The CBRE Capital Markets Q1 2022 report shows Commercial Real Estate Investment in the U.S. jumped 45% year-over-year. Phoenix ranked 7th for overall investment in the top 20 cities tracked.
Total U.S. CRE investment totaled $150.4B in Q1. New York led the country at $63B, followed by Los Angeles at $62B. Orlando had the most year-over-year investment growth at 272%.
The six sectors’ Q1 national totals and their year-over-year percent changes were:
- Multifamily: $56.7B, +41.8%;
- Industrial: $32.2B, +44.3%;
- Office: $31.9B, +45.9%;
- Retail: $17.1B, +87.3%;
- Hotel: +62.5%, and
- Other: -46.2%
Multifamily led the six sectors tracked with 37.7% of the market share, followed by Industrial at 21.4%.
Despite Phoenix finishing 7th in terms of total investment at $31B, a 133.6% year-over-year increase, Industrial was the only sector in which the metro placed in the top ten locations for volume growth. With a volume of $6.338B, the Phoenix area’s year-over-year industrial investment volume grew 145.8%.