Now & Then: Understanding CRE in 2023
2023 was a challenging year for commercial real estate, driven by sharply rising interest rates, economic uncertainty and continued slow progress on return-to-office plans. Join us as we look back at everything from market conditions to labor issues to office amenities to emerging technologies and more.Insights to Share: · The commercial real estate market in 2023 was challenged by sharply rising interest rates, but fundamentals largely held up, aside from the office sector.· Technological advancements, particularly artificial intelligence (AI), played an increased role, especially in Data Centers but elsewhere as well.· U.S. seaports made strides in solving pandemic-era bottlenecks and other challenges.