Performance and Timing of Secondary Market Investment Activity

By: Sam Chandan, President and Chief Economist, Chandan Economics

Release Date: November 2013

Conditions are ripe for a shift in focus to commercial real estate’s secondary markets. Bolstered by the potential for more stable national economic trends, buyers’ improving tolerance for risk-taking, and a widening disparity in yields across primary and secondary markets, investors are broadening their sights.

Apart from their rankings on the commercial real estate investment hierarchy, secondary markets present investors with distinct opportunities and risks. As the economy expands and the distance from the financial crisis widens, understanding secondary markets’ performance patterns and their risk-return tradeoffs becomes an increasingly important task for investors, lenders and policymakers.


Executive Summary (full report page 4)

Full Report (full report page 5-19)


Full Report with Executive Summary, Report text and Appendices