Marcus & Millichap Points to Signs of Improvement in Retail, Hospitality Real Estate

Marcus & Millichap said its retail and hospitality brokerage business showed signs of improvement in the first half of the year, a sign the sectors of the U.S. commercial property industry that were hardest hit in the pandemic are recovering as increased investor optimism fuels more deals.

The U.S. shopping center, hotel and senior-housing sectors are beginning to recover more than a year after the onset of the pandemic, joining grocery stores and other so-called necessity based retailers, warehouses, apartments and self-storage assets that fared better through the economic disruption, CEO Hessam Nadji said.