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Green Street, the provider of commercial real estate intelligence and analytics, has released its “2024 Sector Outlooks,” a series of forward-looking research reports highlighting operating fundamentals and valuations of commercial real estate.

According to the Newport Beach, California-based company, this year’s reports are accompanied by downloadable back-up Excel data files and historical time series for market-level effective rent, rent growth, and occupancy data that is continuously updated. The eight reports offer deep market-level insight and analysis of the apartment, industrial, office, strip center, mall, self-storage, senior housing, and single-family rental sectors.

“Following the second consecutive year of declines in commercial real estate values, we enter 2024 with signals that the worst may be behind us,” said Seth Laughlin, managing director of U.S. Market Analytics. “Amongst the traditional sectors, strip centers offer the most attractive relative returns with a preference for non-gateway markets Salt Lake City, Nashville, and Austin. The apartment sector will face headwinds from new supply across most sunbelt markets, while coastal markets are expected to outperform on a relative basis.”

Laughlin added, “Despite significant value degradation, the office sector remains the most unattractively priced traditional sector, justifying an underweight. Within the non-traditional sectors, senior housing screens more attractive than self-storage and single-family rentals. This is due to higher starting yields combined with an exceptionally strong NOI growth outlook over the next five years, which has the sector poised to outperform.”

 

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