Tech-Heavy CRE Markets at Risk of Slowdown
By
Tony Seruga
While the recent tech boom has been beneficial to several CRE markets, can the momentum last in the face of current U.S. economic concerns?
Stephen Boyd, Senior Director of U.S. REITs, Fitch Ratings
The tech boom since end of the recession has been manna for a number of commercial real estate markets, but can it last in the face of recent jitters about the future of the economy and softness in some tech sectors? According to a
recent report by Fitch Ratings, tech-oriented U.S. CRE market fundamentals have cooled, but are unlikely to collapse. More specifically, office and multifamily owners are most at risk from lower tech-tenant demand in markets such as San Francisco, Silicon Valley, Seattle, New York and Los Angeles…
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