Industry panel: Office and Industrial sectors expected to stay busy in 2017

The industrial and office markets should continue to be busy over the next year or two, according to a panel of commercial real estate professionals who spoke this month.

At “Riding the Wave: What’s Next?”, an event hosted by Minnesota NAIOP in conjunction with MNCREW, MNCAR, the Minnesota-Dakotas Chapter of CCIM and SIOR, eight industry leaders took a look at key trends and existing demand in the office and industrial markets today, as well as giving a packed Hopkins Center for the Arts an idea of what may be yet to come.

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Tom O’Brien featured on panel of CRE experts

Tom O’Brien, ​Executive Director-Capital Markets, was among the industry leaders featured on the panel of experts at the CCIM Minnesota-Dakotas Investment Real Estate Symposium this past week.

Along with leaders of other brokerages with Twin Cities presences, Tom weighed in on the state of the CRE investment industry, biggest surprises of this real estate cycle, the ongoing impact of Millennials on the industry and more.

Among the highlights: Tom said that investors from top markets continue to like Minneapolis-St. Paul for its solid fundamentals and yields that are often higher than you can find in primary markets such as New York or Los Angeles. He also opined that today’s market rests on more realistic underwriting and better fundamentals than it did at the top of the last cycle.

The panel also featured an economic update from Dr. Mark Dotzour, a Real Estate Economist. The event was hosted by Casey Hankinson, Vice President of Development for Ryan Cos. and former United Properties employee.

By: Adam Rae Voge