More workers are back in the office today, at least on a part-time basis, than you might think. According to the third quarter U.S. Office Outlook from JLL, 47% of workers were back in the office in some capacity in the third quarter. That’s a post-pandemic high.

It’s also an improvement. JLL reported that at this time last year, only 35% of workers were back in the office. JLL predicts that by the first quarter of 2023, 65% of workers will be back to the office, at least in a hybrid mode.

Other news in JLL’s report, though, wasn’ as positive. According to JLL, only 45.5 million square feet of office leases closed in the third quarter of this year. That’s down 3.6% from the second quarter. JLL pointed to a slowdown in the amount of tech leases for this drop-off.

Companies are still uncertain about the future, too, which has led to shorter office leases. JLL reported that the average lease term was 6.2 years in the third quarter. The average office lease term had grown to 9.1 years during the past 12 months before this drop.

Overall office vacancy rates continue to rise, increasing by 20 basis points in the third quarter to 19.1% nationally.

When tenants are moving into new space, more of them are looking for higher-quality space. This flight-to-quality has created 1.7 million square feet of positive net absorption in trophy-quality office space.

Self-storage has become one of the most profitable real estate investments out there.

One of the “quieter” sectors, its numbers reflect broader shifts in consumer behavior, such as the permanent adoption of hybrid work schedules, the rebirth of recreational activities in the wake of the pandemic, and the continued migration of households to lower-cost metros, all of which are contributing to demand.

Marcus & Millichap’s recently released Q3 Self-Storage National Report gives us more insight.

Self-storage entered 2H 2022 in a strong position, having accumulated additional renter demand during the peak of COVID-19, and it has continued to outperform itself for the last few years.

The average asking rent for a standard 10-foot by 10-foot unit in June was up 15% compared to the end of 2019 and vacancy contracted 190 basis points to 6.6%. Chicago, specifically, experienced a more than 20% increase in rents—among the highest in the U.S.—between 2019 and 2022.

The report lists a few reasons for this. Properties, for one, have benefited from remote work, as well as population growth and migration.

Another reason for the sector’s continued growth is due to increased relocation activity. More than half of the millennial generation is now over the age of 30, which is spurring relocation as people pursue larger residences in more affordable metros. Many baby boomers have also reached the age of retirement, with the transition to a fixed income encouraging a migration to cities with lower taxes.

As for the future of self-storage, Marcus & Millichap said the pendulum could swing both ways. There’s a chance that softening consumer sentiment, due to inflation and climbing interest rates, could impact demand soon, as fewer new possessions and higher costs may cause storage renters to end leases. On the other hand, a recessionary period might prompt households to consolidate to mitigate expenses, translating to increased storage usage, based on the report.

Texas’ office market has proven itself to be one of the strongest in the U.S. The market has continued to reflect positive trends throughout its post-pandemic recovery, though the numbers differ slightly from city to city.

Houston, for example? Vacancy and availability continue to rise, despite office brokers reporting increased activity and leased commitments. To break it down, Partners recently analyzed the area’s activity during the first eight months of the year — August 2022 compared to August 2021.

Houston Office Vacancy at 25.5%

Overall vacancy was at 25.5% in August 2022, based on the report, up 100 basis points from last year’s 24.5%. Availability was nearly 30%, up 80 basis points from August 2021. Partners said the difference between this figure and the vacancy rate reflects expected future move-outs. Houston has recorded 9.3 million square feet of leasing activity of both new leases and renewals, which is down 13% from the 10.7 million square feet recorded at this time last year. Net absorption is at negative 100,000 square feet, up from negative 2.2 million square feet year-over-year. In addition, the amount of construction underway is at 2.5 million square feet — down almost 30% from last year. Click to read more at www.rednews.com.

Need more proof that the U.S. industrial market is still in boom mode? Just take a look at the September National Industrial Report from CommercialEdge.

According to the report, the country’s industrial sales volume hit $57.6 billion during the first eight months of this year. And in August, the industrial vacancy rate fell 30 basis points when compared to July, dropping to a low 4.1%.

One of the reasons for industrial’s current hot streak? CommercialEdge points to the reshoring. As the company’s report says, during the pandemic, U.S. manufacturers realized that making good abroad came with risks. Today, then, many businesses are reshoring the production of their goods to the United States. The semiconductor industry in particular is already beginning this process.

Congress and Pres. Biden this summer signed the CHIPS Act into law. This act allocates $53 billion in funding to support the domestic manufacturing of semiconductors. The government’s Inflation Reduction Act includes incentives to encourage companies to produce renewable energy products in the United States.

According to numbers from the Bureau of Labor Statistics, there are more workers in the U.S. manufacturing sector now than at any time since 2008. This sector’s employment growth has been higher than 3% year-over-year every month in 2022.

With the added boost of reshoring, then, it’s little surprise that the country’s industrial market continues to thrive. CommercialEdge reported that national in-place rents for industrial space averaged $6.64 a foot in August, a jump of four cents from July and an increase of 5.5% during the last 12 months.

Construction crews are racing to meet the demand for new industrial supply, with 703.5 million square feet of industrial space now under construction across the country, according to CommercialEdge. This pipeline of new construction continues to grow despite concerns over rising interest rates and inflation.

AUSTIN , TEXAS, September 26, 2022 /EINPresswire.com/ — The Central Texas Commercial Association of REALTORS® (CTCAR) has partnered with commercial real estate technology platform, MyEListing.com, to upgrade and improve their commercial real estate listing software.

MyEListing.com’s software provides a comprehensive suite of broker-focused digital services to CTCAR, including but not limited to enhanced market data collection, property marketing, and other broker tools.

“In fulfilling our continued mission to provide valuable products, programs, and services to the greater Central Texas commercial real estate community,” says Jake Bellonzi, CTCAR Board of Directors, “CTCAR is pleased to announce our partnership with MyElisting.com, and offer their comprehensive suite of services through our website. MyElisting.com is truly a platform designed by brokers and for brokers, and we are proud to have them aboard.”

“Partnering with CTCAR is a privilege,” says Caleb Richter, CEO of MyEListing.com, “and their leadership team has made the relationship smooth and very efficient. It is clear they want the best for their members, and the CRE space as a whole. We are proud they have allowed us to provide the software they use to display their listings on their website. Onward and upward!” Click to read more at www.einnews.com.