Industrial Remains the Driver for CORFAC Members Into 2026

At year-end 2025, CORFAC members reported a commercial real estate landscape defined by industrial strength, selective optimism, and persistent macroeconomic challenges. Results from the network’s Fall 2025 Member Market Survey offer a snapshot of where deal activity is occurring, what’s driving it, and what challenges continue to shape members’ decisions worldwide.

“What stands out in this survey is the resilience of our members,” said 2026 President Joe Santaularia, Bradford Commercial Real Estate/CORFAC International in Dallas, Texas. “Even in a market marked by higher costs, tariff uncertainty and longer deal cycles, CORFAC professionals are finding ways to create value, particularly in industrial, logistics and markets benefiting from population and corporate migration.”

Industrial is the Engine of Deal Flow

Industrial continues to dominate both current and anticipated business activity across the network. Nearly two-thirds of respondents cited industrial/manufacturing and warehouse/distribution as key business drivers.

Respondents point to supply-chain realignment, port-driven logistics demand, corporate relocations, and tight industrial inventories as key contributors. Several respondents also highlighted increased industrial investment sales activity in the last quarter of 2025, underscoring continued investor confidence in the sector.

Office and Retail Show Signs of Resilience

While industrial leads the pack, office (44%) and retail (40%) are contributing to member activity. Return-to-office mandates are a top positive influence on transaction activity, signaling gradual stabilization within the sector.

Retail demand is being shaped by adaptive reuse strategies and localized factors, creating opportunities for redevelopment, repositioning, and tenant optimization, according to respondents.

When comparing 2025 year-end activity to the previous year, responses revealed stability and caution. One-third of firms reported an increase in activity, while another third said transaction activity held steady year-over-year. While no respondents reported a significant decrease, the remaining third of respondents said activity had decreased slightly.

These dynamics reflect a market adjusting to new financial realities, according to respondents. Several members mentioned full pipelines paired with longer decision timelines, reinforcing the importance of patience and execution when it comes to closing transactions.

Expansion, Migration and Referrals Drive New Business

Growth opportunities continue to stem from clients expanding operations (56%) and new companies moving into local markets (52%). Population migration, particularly out of higher-cost or heavily regulated regions, was a recurring theme among respondents.

Referrals remain a key strength of the CORFAC network, with nearly half of respondents citing referrals from existing clients or allied service providers, alongside in-network referrals from fellow members contributing to new business.

Tariffs and trade policies, high construction and labor costs, and difficulty obtaining financing were cited as the most significant negative influences on transaction activity at year-end. Interest rate uncertainty continues to delay decision-making, with many clients waiting for clearer economic signals.

At the same time, stabilizing interest rates were frequently cited as a positive factor, suggesting that even modest clarity may fuel some stalled transactions in 2026.

2026 Outlook: Measured Confidence and Market Expertise

Despite ongoing challenges, the survey reveals that the network remains engaged, adaptive, and forward-looking.

“In these market conditions, it requires experience and collaboration to get deals across the finish line,” Santaularia noted. “CORFAC’s ability to share insights across borders and sectors is more important than ever as clients navigate uncertainty.”

As 2026 progresses, industrial demand, regional growth, and cross-market collaboration continue to define opportunities across the network. For CORFAC members, success in the months ahead will depend on sector expertise, local intelligence, and reliance on trusted cross-market relationships.