On Wednesday, January 7
th, CREW Boston members gathered at Holland & Knight LLP for an exclusive group viewing of the CREW Network webinar featuring Spencer Levy, CBRE Global Client Strategist & Senior Economic Advisor. The afternoon began with networking among members, followed by a timely and insightful presentation on the “Global Economic Outlook for 2026 and the State of Commercial Real Estate Markets.”
Spencer Levy shared a data-driven overview of the current global economic landscape and discussed key trends expected to shape the commercial real estate industry in 2026. Attendees gained valuable perspective on navigating market uncertainty, identifying emerging opportunities, and strengthening strategic decision-making in an evolving CRE environment.
The program offered meaningful takeaways for professionals at every stage of their careers and reinforced the value of coming together in person for education, connection, and conversation around the issues impacting our industry. Key insights included:
- 2025 was a “two-act year.” Strong momentum early and late, with a midyear pause driven by tariffs, higher yields, and foreign capital pulling back. A good year, not a great one.
- “Ignore the noise. Focus on the math.” Fear dominates headlines, but fundamentals and pent-up demand drove a solid second half.
- 2026 outlook: optimistic, not euphoric. Growth around 2%, rates drifting lower (~100 bps over 12–18 months), but no return to 2021 conditions.
- Selective strength by sector: office favors top submarkets, multifamily continues to work through oversupply, retail open-air remains a standout (something Spencer predicted long before most), and data centers show powerful demand with long-term tech risk.
- Risks to watch: Fed leadership changes and a potential stock-market correction.
Thank you to Holland & Knight LLP for hosting and to all members who joined us for this engaging and informative event.
