Commercial real estate activity positive in some markets

Boston experienced commercial activity improvements.

The Federal Reserve's July edition of its Beige Book showed that property management companies in some cities have fared better than other markets, but the overall recovery may be heading in the right direction.

St. Louis, Boston and Atlanta all experienced commercial activity gains, while overall demand jumped in San Francisco, the report elaborated. However, Richmond and New York both had a slowdown of demand during the past month. Dallas and Philadelphia did not experience significant changes in the past month.

Boston saw an improvement in construction activity, and both Kansas City and Minneapolis witnessed improved figures in the category as well. The report elaborated that demand in Chicago for construction was on the rise. Cleveland also experienced a jump in demand when compared to last summer. Atlanta did not have a large change in activity when looking at last July, and Richmond had a slowdown in activity, overall.

Despite this, the report explained that many commercial real estate industry members felt that the market was on the right track and it was fair to be optimistic about the situation at this juncture.

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