Transcript:

The office market—there’s been a little bit of, maybe, a sigh of relief. Everyone kind of sees the writing on the wall that we are trending back toward a more typical market cycle. Rates are going to continue to come down, and hopefully, that will cause more deals to happen.

As we get more and more distance between us and the pandemic, I think the office market is going to continue to strengthen. You’re still seeing a lot of deals hit the market, and a pretty good amount of office buildings that are occupied and coming up for sale as investment opportunities.

Current owners who have toyed with the idea of selling their investment properties have held off because of the rate environment. Those owners who were thinking, “Maybe I should wait for the rates to drop a little bit,” I think, as rates continue to ease, the buyer pool will open up a bit.

As that happens, more sellers will realize, “Okay, now’s the time. If I’m going to transact and put this property up for sale, the stars are aligning, and it’s time to do it.”