CORFAC Spring Market Survey: Transaction Activity Rebounds

The commercial real estate sector as a whole and transaction activity within specific sectors are seeing positive growth this year, according to CORFAC’s 2026 Spring Market Survey. Respondents from across the global network are expressing optimism about the market’s performance and the prospects for their businesses this year.

Industrial Remains Strong

Industrial and logistics-related sectors continue to dominate transaction activity across the network so far this year. Manufacturing and warehouse/distribution are the top two subsectors driving business activity. Office continues to fuel select markets, and investment sales are seeing a network-wide uptick as well. Meanwhile, retail transaction activity has slowed for the majority of respondents.

Members project industrial will continue to fuel business across the network for the remainder of the year. One member noted, “Small-bay industrial is driving growth in this underserved sector,” while another pointed to “advanced manufacturing users continuing to drive industrial demand.”

The survey also revealed growing diversification of activity. Land transactions, particularly tied to multifamily development, are gaining traction. One respondent reported having “over $200 million under contract in land deals driven by multifamily development to combat the affordable housing crisis,” signaling a shift toward development-driven opportunities in select markets.

Office and Retail Are Evolving
While office remains a smaller share of expected growth, it is far from stagnant. Respondents highlighted a continued shift toward smaller, more efficient spaces. As one member explained, companies maintaining hybrid schedules are “looking to downsize and leasing smaller spaces with more buildouts.”

Retail also shows pockets of strength, particularly tied to development and experiential uses. One respondent reported recently completing a “25-acre land assembly for a grocery-anchored retail development,” reflecting how necessity-based retail continues to fuel activity.

Transaction Activity Is Increasing
Compared to last fall, transaction activity is growing across the network. More than 50% of respondents reported increased transaction activity, and just over a quarter of members said activity has remained stable since last fall. While others noted performance remains “highly dependent on the sector,” just over 20% said transaction activity has declined in the first quarter.

Deal highlights reinforce this trend. Members reported significant transactions ranging from a $24 million industrial sale to multiple office leases exceeding 20,000 square feet. Another highlight reported is a 165,000-square-foot corporate headquarters project. These examples underscore continued deal flow across asset types and geographies within the network.

Referrals, Relationships, and Resilience
Top sources of new business among CORFAC firms so far this year include client expansions, business relocations into the market, and referrals from local service providers. Collaboration and in-network referrals between CORFAC firms also continue to drive business.

When it comes to operational efficiencies, AI and technology are playing a growing role. AI and data availability were among the top positive influences on brokerage operations, along with attracting top talent and connections made through CORFAC. Although AI is having a positive impact on operations, some respondents also cited it as a disruptor. The question of how to incorporate AI effectively into daily workflow remains a key concern.

Despite improving sentiment about the commercial real estate market overall, respondents reported inflation and interest rates as the most significant negative influences on transaction activity. Other factors, such as high costs for labor and construction materials, lack of available space, and difficulty obtaining financing, are plaguing some markets.

For CORFAC members worldwide, continued success this year will hinge on navigating the rapidly changing market, capitalizing on strong sectors while adapting to evolving client needs, economic realities, and technological change. Leveraging the network’s collective expertise is an asset CORFAC members bring to each transaction in these uncertain market conditions.