Is the Asheville CRE Market “Inflated”?


Brisk, heated and inflated are some of the words brokers have used to describe the Asheville area’s commercial real estate market’s performance through this year’s first two quarters.

Demand and rental rates are increasing. Inventory and vacancy rates are dropping. Those trends are occurring across product types: industrial, office, retail, land and multifamily.

“It’s an indication of the market’s velocity,” said Austin Walker, a broker with Whitney Commercial Real Estate Services in Asheville.

“There’s an insatiable appetite for investment real estate,” Walker said, referring to developed property that tenants lease and produces income for owners. Whitney is receiving more investment real-estate inquiries now than a year ago at this time – and “five times as many as the year before that,” Walker said.

Though Jeremy Goldstein agreed the sector has been very active, the broker in charge and principal agent at Asheville’s G/M Property Group expressed that some caution might be in order.


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