CRE Shows First Signs of Stress From Tariff Uncertainty
Published Wednesday, July 9, 2025 11:00 am
by Erik Sherman

This is a summary

"Worries have been swirling around the commercial real estate sector as tariff increases and global uncertainty loom, but so far, the data has painted a mixed picture of their direct impact.

Despite major players like Blackstone acknowledging that tariffs have influenced their commercial real estate investments, the market has largely remained stable, according to John Chang at Marcus & Millichap. Yet, some experts believe the warning signs may just be beginning to surface.

MSCI’s Jim Costello, writing in a recent blog post, noted that while the effects of “tariff turmoil” haven’t become glaringly obvious, early indicators are flashing signals that trouble could be ahead. The slow-moving nature of commercial real estate—where deals can take more than six months to close—means that any fallout from tariffs might not be fully visible until the third quarter of 2025. Still, Costello argues that certain metrics can already offer a glimpse of how the sector might respond to broader economic shocks."

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CRE Shows First Signs of Stress From Tariff Uncertainty | GlobeSt

Image credit to Jakub Żerdzicki on Unsplash

CRE Shows First Signs of Stress From Tariff Uncertainty | GlobeSt

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