CNBC Features Marcus & Millichap CEO Hessam Nadji Office Sector Faces Dual Track Recovery; The Properties That Best Hedge Inflation Real estate and inflation: The best property types to hedge inflation Urban vs Suburban recovery trends Office market rankings by vacancy

Tech hiring reiterates decentralization. Over the past decade, the tech industry expanded beyond the traditional hubs of the Bay Area, Seattle, Los Angeles and New York City into new frontiers in Atlanta, Austin, Denver and Orlando. Firms sought out new talent and planned expansions in lower-cost areas. Despite this, nearly 50 percent of new tech job openings from 2015 to 2019 were still located in high-profile tech metros. During the health crisis, the decentralization of… Read More

Hiring continues amid low unemployment. Employers added 428,000 new jobs in April, on par with the previous month. While the employment base remains about 1.2 million positions short of the February 2020 headcount, multiple signs point to a recovered labor market. Last month 5.9 million people were unemployed, only 200,000 above the pre-pandemic mark. The underemployment rate also fell to 7.0 percent in April, matching the February 2020 level. This measure takes into account part-time workers… Read More

Fed continues along established stratagem to combat inflation. On May 4 the Federal Reserve raised the Federal Funds rate by 50 basis points in the second of seven planned rate hikes for the year. Now at a target range between 0.75 percent and 1.00 percent, the effective overnight lending rate is expected to climb to the 2 percent to 3 percent zone before the start of 2023 if the Fed continues with this strategy. Numerous forces… Read More

First quarter GDP contraction not a concern. Gross domestic product fell by an annualized rate of 1.4 percent in the opening quarter of 2022. The reduction was driven predominantly by a widening trade deficit, as import volumes climbed rapidly while exports declined. With stimulus concluded, less government spending also contributed to lower GDP. Excluding these two categories, metrics were much more positive. Personal consumption and private investment both added to GDP last quarter, and domestic… Read More

Tangible locations account for larger slice of total retail sales. Store-based retail sales, which excludes online purchases and spending at restaurants and bars, represented nearly two-thirds of all retail sales in March, the largest proportion this year. The 2.1 percent rise in store-based spending recorded last month suggests consumer mobility is improving, and physical stores are noting a rise in foot traffic as health conditions improve and mandates are lifted. Receding online sales during the… Read More

Leasing volumes robust. After encountering a disproportionate number of hurdles in 2020 and early 2021, apartment demand has soared in the nation’s gateway metros. During recent months, New York, Los Angeles and Chicago challenged Sun Belt and Mountain/Desert hot spot metros like Dallas-Fort Worth, Houston and Phoenix for the country’s largest increases in occupied units.

Inflation pressures persist. The Consumer Price Index increased by another multidecade high margin in March as multiple factors drive ongoing upward price movements. The widespread economic shutdown in 2020 led to unprecedented levels of fiscal stimulus, engorging the money supply, while the Federal Reserve also boosted liquidity by cutting lending rates and offering new programs. Aided by this support, consumer demand leapt ahead of supply as the economy unevenly reopened, hindered by a logjammed global supply… Read More

TD Ameritrade Features Marcus & Millichap CEO Hessam Nadji Commercial Real Estate Investment Sets Record Pace, Marcus & Millichap Outperforming Broader Sector Gains Why demand for commercial real estate is likely to remain strong despite some headwinds How positive underlying real estate space demand underpins sector momentum outlook Marcus & Millichap outperforms sector through expansion and infrastructure enhancements    

Bloomberg Features Marcus & Millichap CEO Hessam Nadji  Pandemic Still Restraining Urban Office, But Some Traction Beginning to Emerge Perspective on the 2022 urban office space outlook U.S. markets already facing office space shortfalls The long-term perspective – opportunities many overlook