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Senior executives confident about commercial real estate market

Commercial real estate market set to rise, according to senior execs.

Commercial real estate market set to rise, according to senior execs.

How financially successful a person or family is after moving to a new area is largely dependent on the vitality of its commercial sector. And according to a survey of some of its senior executives, the commercial real estate industry is looking up.

After their annual State of the Industry meeting last week, Jeffrey DeBoer spoke on behalf of his colleagues in highlighting the bounceback he foresees in the commercial real estate market.

"The commercial real estate marketplace is improving, particularly in top-end urban cities," said DeBoer, CEO for the Real Estate Sentiment Roundtable Index.

On a scale of 1 to 100 - 1 being the worst, 100 being the best - overall sentiment regarding the commercial real estate market was 77. That's four points higher than what the survey found last quarter and the highest sentiment since the survey began in 2008.

Despite the improving sentiment, DeBoer believes real stability won't return until better tax policies go into effect, helping to curb the debt levels the commercial real estate market has accrued.

Greater optimism in the commercial real estate comes on the heels of a survey issued last week by National Real Estate Investor magazine, which found the biggest jump in commercial real estate sentiment since 2004.