GITNUXREPORT 2026

Commercial Property Industry Statistics

The commercial property industry faces a complex post-pandemic reality of shifting values and demands.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

Our Commitment to Accuracy

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Statistic 1

U.S. industrial vacancy rate fell to 5.3% in Q1 2024.

Statistic 2

Rents for modern logistics facilities rose 8.2% YoY in 2023.

Statistic 3

U.S. industrial absorption totaled 400 million sq ft in 2023.

Statistic 4

E-commerce drove 60% of industrial leasing demand in 2023.

Statistic 5

New industrial construction deliveries hit 500 million sq ft in U.S. 2023.

Statistic 6

Bulk warehouse rents averaged $9.50 psf nationally in 2023.

Statistic 7

Inland ports saw 12% rent premium over coastal in 2023.

Statistic 8

Industrial cap rates compressed to 5.2% for prime assets 2023.

Statistic 9

Manufacturing reshoring added 50 million sq ft demand in 2023.

Statistic 10

Speculative industrial builds reached 70% of pipeline in 2023.

Statistic 11

Data center industrial space under construction doubled to 10% of inventory.

Statistic 12

Industrial tenant sales growth averaged 15% for logistics firms 2023.

Statistic 13

U.S. flex space vacancy dropped to 6.8% in 2023.

Statistic 14

Cold storage rents surged 15% due to food supply chains 2023.

Statistic 15

Industrial loan maturities peaked at $200 billion in 2024-2025.

Statistic 16

Last-mile facilities averaged 100k sq ft size in new builds 2023.

Statistic 17

Southeast U.S. industrial rents hit $10 psf in 2023.

Statistic 18

Industrial ESG retrofits covered 20% of portfolio in 2023.

Statistic 19

Robot density in warehouses reached 150 units/10k sq ft 2023.

Statistic 20

Global industrial investment volume $250 billion in 2023.

Statistic 21

U.S. CRE investment sales volume $450 billion in 2023, down 50% YoY.

Statistic 22

Private equity dry powder for CRE hit $500 billion in 2023.

Statistic 23

REIT market cap totaled $1.4 trillion for U.S. public CRE in 2023.

Statistic 24

Debt funds deployed $150 billion into CRE in 2023.

Statistic 25

Core CRE funds returned 7.2% net IRR in 2023.

Statistic 26

Foreign investment in U.S. CRE fell to 5% of volume in 2023.

Statistic 27

Opportunity zone CRE investments exceeded $100 billion by 2023.

Statistic 28

Green bonds for CRE issuance reached $50 billion globally 2023.

Statistic 29

Value-add strategies outperformed core by 300 bps in 2023.

Statistic 30

Pension funds allocated 12% to CRE in portfolios 2023.

Statistic 31

CRE crowdfunding platforms raised $10 billion in 2023.

Statistic 32

Distressed CRE debt trading volume $80 billion in 2023.

Statistic 33

Joint ventures accounted for 30% of CRE deals 2023.

Statistic 34

Sovereign wealth funds invested $60 billion in CRE 2023.

Statistic 35

CRE preferred equity volume grew 25% to $40 billion 2023.

Statistic 36

NAV discounts on public REITs averaged 25% in 2023.

Statistic 37

Insurance companies held $300 billion CRE loans 2023.

Statistic 38

Recapitalizations saved 15% of maturing CRE debt in 2023.

Statistic 39

Data center REITs returned 20% total in 2023.

Statistic 40

Family offices increased CRE allocations to 10% in 2023.

Statistic 41

Mezzanine debt spreads widened to 800 bps in 2023.

Statistic 42

Sector rotation favored industrial over office 3:1 in investments 2023.

Statistic 43

CRE exchange funds grew to $5 billion AUM in 2023.

Statistic 44

Bridge loans originated $120 billion for CRE in 2023.

Statistic 45

Impact investing in CRE reached $30 billion globally 2023.

Statistic 46

The global commercial real estate market size reached approximately $24.5 trillion in 2023, driven by urbanization and economic recovery post-COVID.

Statistic 47

U.S. commercial property investment volume totaled $564 billion in 2022, down 36% from 2021 peak.

Statistic 48

Vacancy rates in U.S. commercial real estate averaged 12.5% across major property types in Q4 2023.

Statistic 49

Commercial property prices in the EU rose by 4.2% year-over-year in 2023, led by logistics assets.

Statistic 50

Asia-Pacific commercial real estate transaction volume hit $150 billion in 2023, with China contributing 40%.

Statistic 51

ESG-compliant commercial buildings command a 10-15% premium in rental rates globally as of 2023.

Statistic 52

U.S. commercial mortgage-backed securities issuance reached $120 billion in 2023.

Statistic 53

Global commercial real estate debt outstanding stood at $15 trillion in 2022.

Statistic 54

Construction costs for commercial properties increased 8.5% YoY in the U.S. during 2023.

Statistic 55

Remote work adoption reduced office demand by 15% in major U.S. metros by 2023.

Statistic 56

Commercial real estate yields compressed by 50 basis points across Europe in H2 2023.

Statistic 57

U.S. CRE cap rates averaged 6.8% for all property types in Q1 2024.

Statistic 58

Global data center real estate investments surged 25% to $45 billion in 2023.

Statistic 59

Multifamily vacancy rates in the U.S. hit a record low of 5.9% in 2023.

Statistic 60

Commercial property insurance premiums rose 20% globally in 2023 due to climate risks.

Statistic 61

U.S. CRE distressed assets reached $1.2 trillion in debt as of mid-2024.

Statistic 62

PropTech investments in commercial real estate totaled $18 billion in 2023.

Statistic 63

Energy efficiency retrofits in commercial buildings saved $50 billion annually worldwide.

Statistic 64

Global CRE supply chain disruptions delayed 30% of projects in 2023.

Statistic 65

U.S. suburban commercial rents outperformed urban by 5% in 2023.

Statistic 66

Commercial lease renewals dropped 10% in major markets due to relocations in 2023.

Statistic 67

AI-driven CRE analytics adoption grew 40% in investment firms in 2023.

Statistic 68

Global CRE carbon emissions from operations totaled 2.7 GtCO2e in 2022.

Statistic 69

U.S. CRE transaction velocity slowed to 45% of 2021 levels in 2023.

Statistic 70

Hybrid work models increased flexible space demand by 22% in 2023.

Statistic 71

Commercial property tax assessments rose 12% in U.S. cities in 2023.

Statistic 72

Global CRE M&A activity hit $300 billion in 2023.

Statistic 73

U.S. CRE e-commerce impact boosted industrial demand 15% YoY.

Statistic 74

Sustainability certifications covered 40% of new CRE developments in 2023.

Statistic 75

Global CRE portfolio diversification into emerging markets rose to 25% in 2023.

Statistic 76

U.S. office vacancy rate reached 20.1% in Q1 2024, highest since 2010.

Statistic 77

Asking rents for prime CBD offices in NYC averaged $85 psf in 2023.

Statistic 78

Sublease space in U.S. offices hit 250 million sq ft in 2023.

Statistic 79

Trophy office buildings saw 2% rent growth despite market downturn in 2023.

Statistic 80

Flight to quality drove 15% absorption in Class A offices in 2023.

Statistic 81

Return-to-office mandates increased occupancy by 10% in mandated firms.

Statistic 82

U.S. office construction deliveries peaked at 100 million sq ft in 2023.

Statistic 83

Speculative office development fell 70% from pre-pandemic levels by 2023.

Statistic 84

Co-working space penetration reached 12% of U.S. office inventory in 2023.

Statistic 85

Office-to-residential conversions totaled 50 million sq ft underway in 2023.

Statistic 86

European office rents declined 1.5% YoY in prime markets in 2023.

Statistic 87

U.S. office cap rates expanded to 7.9% for Class B assets in Q1 2024.

Statistic 88

Tech sector office leasing accounted for 25% of absorption in 2023.

Statistic 89

Office building energy use per sq ft dropped 20% with smart tech in 2023.

Statistic 90

Downtown office foot traffic recovered to 60% of pre-pandemic levels.

Statistic 91

U.S. office tenant retention rates fell to 55% in 2023.

Statistic 92

Premium office amenities boosted lease-up rates by 18% in 2023.

Statistic 93

Office mortgage delinquencies hit 10.3% in mid-2024.

Statistic 94

Global office supply growth slowed to 1.5% in 2023.

Statistic 95

U.S. Sun Belt offices saw 5% vacancy compression in 2023.

Statistic 96

Office fit-out costs rose 15% due to supply chain issues in 2023.

Statistic 97

Female-led office leasing decisions increased to 35% in 2023.

Statistic 98

Office parking demand dropped 40% with hybrid work in 2023.

Statistic 99

U.S. gateway city office investment yields hit 8% in 2023.

Statistic 100

Retail sales per sq ft in U.S. malls averaged $450 in 2023.

Statistic 101

U.S. shopping center vacancy rate stabilized at 5.2% in Q4 2023.

Statistic 102

Grocery-anchored centers outperformed with 4.8% vacancy in 2023.

Statistic 103

E-commerce captured 15% of U.S. retail sales, pressuring brick-and-mortar.

Statistic 104

Open-air shopping center rents rose 3.5% YoY in 2023.

Statistic 105

U.S. retail bankruptcies totaled 150 major chains in 2023.

Statistic 106

Experiential retail leasing grew 20% in prime locations in 2023.

Statistic 107

Mall redevelopments into mixed-use added 10 million sq ft in 2023.

Statistic 108

U.S. street retail rents in NYC averaged $650 psf in 2023.

Statistic 109

Retail cap rates tightened to 6.5% for top-tier assets in 2023.

Statistic 110

Omnichannel retailers occupied 25% more space in 2023.

Statistic 111

U.S. power center vacancy hit record low 4.1% in 2023.

Statistic 112

Retail foot traffic recovered to 95% pre-pandemic levels by end-2023.

Statistic 113

Luxury retail sales grew 12% in U.S. high streets in 2023.

Statistic 114

Retail lease terms shortened to avg 5 years in 2023.

Statistic 115

Mixed-use retail absorption reached 15 million sq ft in U.S. 2023.

Statistic 116

Retail CMBS loan delinquencies stayed below 3% in 2023.

Statistic 117

Neighborhood centers saw 2% rent growth in suburbs 2023.

Statistic 118

Pop-up retail spaces increased 30% in availability 2023.

Statistic 119

U.S. outlet center sales per sq ft hit $380 in 2023.

Statistic 120

Retail sustainability features boosted tenant demand 15%.

Statistic 121

Global retail rents declined 2% outside U.S. in 2023.

1/121

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In a market where a staggering $24.5 trillion in global assets coexists with a record $1.2 trillion in U.S. distressed debt, navigating the commercial property industry today requires decoding a powerful story of divergence, resilience, and reinvention.

Key Takeaways

The global commercial real estate market size reached approximately $24.5 trillion in 2023, driven by urbanization and economic recovery post-COVID.
U.S. commercial property investment volume totaled $564 billion in 2022, down 36% from 2021 peak.
Vacancy rates in U.S. commercial real estate averaged 12.5% across major property types in Q4 2023.
U.S. office vacancy rate reached 20.1% in Q1 2024, highest since 2010.
Asking rents for prime CBD offices in NYC averaged $85 psf in 2023.
Sublease space in U.S. offices hit 250 million sq ft in 2023.
Retail sales per sq ft in U.S. malls averaged $450 in 2023.
U.S. shopping center vacancy rate stabilized at 5.2% in Q4 2023.
Grocery-anchored centers outperformed with 4.8% vacancy in 2023.
U.S. industrial vacancy rate fell to 5.3% in Q1 2024.
Rents for modern logistics facilities rose 8.2% YoY in 2023.
U.S. industrial absorption totaled 400 million sq ft in 2023.
U.S. CRE investment sales volume $450 billion in 2023, down 50% YoY.
Private equity dry powder for CRE hit $500 billion in 2023.
REIT market cap totaled $1.4 trillion for U.S. public CRE in 2023.

The commercial property industry faces a complex post-pandemic reality of shifting values and demands.

Industrial Sector

U.S. industrial vacancy rate fell to 5.3% in Q1 2024.
Rents for modern logistics facilities rose 8.2% YoY in 2023.
U.S. industrial absorption totaled 400 million sq ft in 2023.
E-commerce drove 60% of industrial leasing demand in 2023.
New industrial construction deliveries hit 500 million sq ft in U.S. 2023.
Bulk warehouse rents averaged $9.50 psf nationally in 2023.
Inland ports saw 12% rent premium over coastal in 2023.
Industrial cap rates compressed to 5.2% for prime assets 2023.
Manufacturing reshoring added 50 million sq ft demand in 2023.
Speculative industrial builds reached 70% of pipeline in 2023.
Data center industrial space under construction doubled to 10% of inventory.
Industrial tenant sales growth averaged 15% for logistics firms 2023.
U.S. flex space vacancy dropped to 6.8% in 2023.
Cold storage rents surged 15% due to food supply chains 2023.
Industrial loan maturities peaked at $200 billion in 2024-2025.
Last-mile facilities averaged 100k sq ft size in new builds 2023.
Southeast U.S. industrial rents hit $10 psf in 2023.
Industrial ESG retrofits covered 20% of portfolio in 2023.
Robot density in warehouses reached 150 units/10k sq ft 2023.
Global industrial investment volume $250 billion in 2023.

Industrial Sector Interpretation

The industrial real estate market is sprinting at a robot-assisted, e-commerce-fueled pace, but with rents climbing and loan maturities looming, let's hope this isn't just a beautifully packaged speculative bubble built on next-day delivery promises.

Investment Trends

U.S. CRE investment sales volume $450 billion in 2023, down 50% YoY.
Private equity dry powder for CRE hit $500 billion in 2023.
REIT market cap totaled $1.4 trillion for U.S. public CRE in 2023.
Debt funds deployed $150 billion into CRE in 2023.
Core CRE funds returned 7.2% net IRR in 2023.
Foreign investment in U.S. CRE fell to 5% of volume in 2023.
Opportunity zone CRE investments exceeded $100 billion by 2023.
Green bonds for CRE issuance reached $50 billion globally 2023.
Value-add strategies outperformed core by 300 bps in 2023.
Pension funds allocated 12% to CRE in portfolios 2023.
CRE crowdfunding platforms raised $10 billion in 2023.
Distressed CRE debt trading volume $80 billion in 2023.
Joint ventures accounted for 30% of CRE deals 2023.
Sovereign wealth funds invested $60 billion in CRE 2023.
CRE preferred equity volume grew 25% to $40 billion 2023.
NAV discounts on public REITs averaged 25% in 2023.
Insurance companies held $300 billion CRE loans 2023.
Recapitalizations saved 15% of maturing CRE debt in 2023.
Data center REITs returned 20% total in 2023.
Family offices increased CRE allocations to 10% in 2023.
Mezzanine debt spreads widened to 800 bps in 2023.
Sector rotation favored industrial over office 3:1 in investments 2023.
CRE exchange funds grew to $5 billion AUM in 2023.
Bridge loans originated $120 billion for CRE in 2023.
Impact investing in CRE reached $30 billion globally 2023.

Investment Trends Interpretation

The market is frozen with uncertainty, yet absolutely pulsing with capital, clever strategies, and a Darwinian shift towards sectors that actually work, proving once again that commercial real estate is less about buying buildings and more about strategically navigating a minefield of discounts, debt, and data centers.

Market Overview

The global commercial real estate market size reached approximately $24.5 trillion in 2023, driven by urbanization and economic recovery post-COVID.
U.S. commercial property investment volume totaled $564 billion in 2022, down 36% from 2021 peak.
Vacancy rates in U.S. commercial real estate averaged 12.5% across major property types in Q4 2023.
Commercial property prices in the EU rose by 4.2% year-over-year in 2023, led by logistics assets.
Asia-Pacific commercial real estate transaction volume hit $150 billion in 2023, with China contributing 40%.
ESG-compliant commercial buildings command a 10-15% premium in rental rates globally as of 2023.
U.S. commercial mortgage-backed securities issuance reached $120 billion in 2023.
Global commercial real estate debt outstanding stood at $15 trillion in 2022.
Construction costs for commercial properties increased 8.5% YoY in the U.S. during 2023.
Remote work adoption reduced office demand by 15% in major U.S. metros by 2023.
Commercial real estate yields compressed by 50 basis points across Europe in H2 2023.
U.S. CRE cap rates averaged 6.8% for all property types in Q1 2024.
Global data center real estate investments surged 25% to $45 billion in 2023.
Multifamily vacancy rates in the U.S. hit a record low of 5.9% in 2023.
Commercial property insurance premiums rose 20% globally in 2023 due to climate risks.
U.S. CRE distressed assets reached $1.2 trillion in debt as of mid-2024.
PropTech investments in commercial real estate totaled $18 billion in 2023.
Energy efficiency retrofits in commercial buildings saved $50 billion annually worldwide.
Global CRE supply chain disruptions delayed 30% of projects in 2023.
U.S. suburban commercial rents outperformed urban by 5% in 2023.
Commercial lease renewals dropped 10% in major markets due to relocations in 2023.
AI-driven CRE analytics adoption grew 40% in investment firms in 2023.
Global CRE carbon emissions from operations totaled 2.7 GtCO2e in 2022.
U.S. CRE transaction velocity slowed to 45% of 2021 levels in 2023.
Hybrid work models increased flexible space demand by 22% in 2023.
Commercial property tax assessments rose 12% in U.S. cities in 2023.
Global CRE M&A activity hit $300 billion in 2023.
U.S. CRE e-commerce impact boosted industrial demand 15% YoY.
Sustainability certifications covered 40% of new CRE developments in 2023.
Global CRE portfolio diversification into emerging markets rose to 25% in 2023.

Market Overview Interpretation

Despite the immense $24.5 trillion global market, it's a tale of two hemispheres: while ESG premiums, data centers, and logistics assets thrive, the sector grapples with soaring construction costs, distressed debt, and the stubbornly persistent ghost of remote work haunting office corridors.

Office Sector

U.S. office vacancy rate reached 20.1% in Q1 2024, highest since 2010.
Asking rents for prime CBD offices in NYC averaged $85 psf in 2023.
Sublease space in U.S. offices hit 250 million sq ft in 2023.
Trophy office buildings saw 2% rent growth despite market downturn in 2023.
Flight to quality drove 15% absorption in Class A offices in 2023.
Return-to-office mandates increased occupancy by 10% in mandated firms.
U.S. office construction deliveries peaked at 100 million sq ft in 2023.
Speculative office development fell 70% from pre-pandemic levels by 2023.
Co-working space penetration reached 12% of U.S. office inventory in 2023.
Office-to-residential conversions totaled 50 million sq ft underway in 2023.
European office rents declined 1.5% YoY in prime markets in 2023.
U.S. office cap rates expanded to 7.9% for Class B assets in Q1 2024.
Tech sector office leasing accounted for 25% of absorption in 2023.
Office building energy use per sq ft dropped 20% with smart tech in 2023.
Downtown office foot traffic recovered to 60% of pre-pandemic levels.
U.S. office tenant retention rates fell to 55% in 2023.
Premium office amenities boosted lease-up rates by 18% in 2023.
Office mortgage delinquencies hit 10.3% in mid-2024.
Global office supply growth slowed to 1.5% in 2023.
U.S. Sun Belt offices saw 5% vacancy compression in 2023.
Office fit-out costs rose 15% due to supply chain issues in 2023.
Female-led office leasing decisions increased to 35% in 2023.
Office parking demand dropped 40% with hybrid work in 2023.
U.S. gateway city office investment yields hit 8% in 2023.

Office Sector Interpretation

The American office market has become a stark Darwinian drama where, despite a record 20.1% vacancy rate and soaring delinquencies, a handful of trophy buildings are thriving on lavish amenities while everything else frantically tries to convert into apartments or desperately hopes you'll return your parking spot.

Retail Sector

Retail sales per sq ft in U.S. malls averaged $450 in 2023.
U.S. shopping center vacancy rate stabilized at 5.2% in Q4 2023.
Grocery-anchored centers outperformed with 4.8% vacancy in 2023.
E-commerce captured 15% of U.S. retail sales, pressuring brick-and-mortar.
Open-air shopping center rents rose 3.5% YoY in 2023.
U.S. retail bankruptcies totaled 150 major chains in 2023.
Experiential retail leasing grew 20% in prime locations in 2023.
Mall redevelopments into mixed-use added 10 million sq ft in 2023.
U.S. street retail rents in NYC averaged $650 psf in 2023.
Retail cap rates tightened to 6.5% for top-tier assets in 2023.
Omnichannel retailers occupied 25% more space in 2023.
U.S. power center vacancy hit record low 4.1% in 2023.
Retail foot traffic recovered to 95% pre-pandemic levels by end-2023.
Luxury retail sales grew 12% in U.S. high streets in 2023.
Retail lease terms shortened to avg 5 years in 2023.
Mixed-use retail absorption reached 15 million sq ft in U.S. 2023.
Retail CMBS loan delinquencies stayed below 3% in 2023.
Neighborhood centers saw 2% rent growth in suburbs 2023.
Pop-up retail spaces increased 30% in availability 2023.
U.S. outlet center sales per sq ft hit $380 in 2023.
Retail sustainability features boosted tenant demand 15%.
Global retail rents declined 2% outside U.S. in 2023.

Retail Sector Interpretation

While the ghost of e-commerce still haunts the mall, the resilient brick-and-mortar landscape is being shrewdly remodeled, with grocery-anchored and experiential concepts leading a charge that’s more about curated community than mere commerce.