New stats out from a PricewaterhouseCoopers Korpacz Real Estate Investor Survey show that investors remain strongly interested in commercial property despite credit market volatility and concerns about an economic slowdown. The survey adds that the major limitation to investment activity is a lack of properties coming to market. The interest is strongest in office, retail and industrial properties, but there are growing concerns about oversupply in the multifamily and hotel sectors.
In Ohio, particularly Central Ohio, there are definitely more investors than there are properties coming to market. We do not, though, have an oversupply of multifamily and hotels in the region. In fact, pressure on multifamily is driving up rents and values -- good for current investors but making for a more expensive proposition for investors looking for product.