Investment in office properties across the country fell 68% in the first quarter to $10.7B, the lowest level since 2010 and an indicator of the degree of deep freeze property markets plunged into after their most challenging year in more than a decade. Sales of all property types declined, according to Colliers, citing new MSCI data. But in the face of rising interest rates, shriveled office demand and grave uncertainty about the direction of the economy, office trades fell furthest and fastest, with many owners selling for a loss as valuations dropped through the floor. 
“It’s a frightening tsunami of problems coming at us, because there’s not a lot of demand for office — especially for Class-B and C buildings,” Compass Vice Chair Adelaide Polsinelli told Bisnow. "This is absolutely the new normal where properties, especially office, are selling at losses. Valuations have…  Read the full story here. | 
