Commercial property sales accelerated in 2013, continuing a years-long recovery after activity came to a near-halt during the financial crisis and recession. Buoyed by steadying job growth, improving real estate fundamentals and eager capital, buyers throughout the first 11 months of 2013 ponied up more than $305 billion to acquire office buildings, industrial properties, retail centers, hotels, apartments and development sites around the U.S., according to Real Capital Analytics, which tracks commercial real estate sales of more than $5 million. The dollar volume already had outpaced sales in all of 2012 by about $5 billion, Real Capital notes. The firm is scheduled to release final 2013 sales numbers later this month, but it anticipated close to $360 billion in total dollar volume for the year.
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Posted by Scott A. Baldwin at 02:30 PM on Thursday, January 23, 2014