In the first two installments (see below) of our series regarding the potential impact of a recession on the commercial property sector, we discussed the probable reduction in transaction velocity, a flight to quality that would negatively impact functional obsolete properties, an increase in institutional ownership and a cap on the prolific rent growth we have seen over the past few years.
This combination alone would be enough to precipitate a substantial correction in property values.
However, there is more to story which we address in this third installment.
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