The SVN | Second Story team outpaced other regional CRE agencies in the first quarter, completing more than $12 million in total volume, with our listings averaging just 10 weeks on the market, outpacing general averages for commercial real estate listings. Significant sales in retail, office, and multi-family helped push our success in the first quarter.
While second-quarter numbers are down for commercial real estate overall, at SVN | Second Story, sales and leases are shaping up to hold steady compared to last year, and the team is closely watching interest-rate timing. There are many promising opportunities expected to lead to a busy fall season for commercial real estate sales.
"The wildcard remains interest rate timing. If the Federal Reserve makes changes later than expected, it could compress that Q3 lift. Our team is keeping an eye on the Fed's July meeting as a signal for how that plays out," stated Kelly Fitzgerald, Senior VP of Commercial Brokerage.
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