Both CBD and suburban office acquisitions volumes in the U.S. remain below last year’s levels. The total acquisitions volume is off 17%. CBD is down 10%; suburban 23%.
One of the most important office investment questions is whether the decline in investment volumes has led to a decline in office pricing. In a few weeks, CBRE will reveal the results of its H1 2016 cap rate survey which will go a long ways to provide “pricing discovery.” In the meantime, analysis of the year-to-date data from Real Capital Analytics provides some perspectives.