Real Assets Investments Blog - Harrison Street Private Wealth

Commercial Real Estate Showing Early Signs of Recovery: What Investors Should Know

Written by Harrison Street Private Wealth | Oct 28, 2025 3:45:00 PM

NCREIF data confirms U.S. commercial real estate prices began to improve in late 2024, and that trend has accelerated this year. Unlike past downturns, NOI (net operating income) stayed relatively strong, which we believe creates a more resilient foundation for growth going forward.

With values still below replacement cost and construction pipelines at historic lows - coupled with persistently strong demand for industrial, multifamily and retail properties - we believe current conditions create the potential for considerable property value appreciation.


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