It’s been a big year. 
Interest rate adjustments, tariff roller coasters, major geopolitical shake-ups — to say commercial real estate has whiplash would be an understatement. But when we take a step back and look at 2025 as a whole, what are the key takeaways, and most importantly, what’s in store for 2026? 
To answer these questions, Bisnow Editor-in-Chief Mark F. Bonner sat down with CBRE Global Client Strategist and Senior Economic Advisor Spencer Levy for the last First Draft Live of 2025.
Their wide-ranging discussion touched on several key CRE topics, including the cities that will be hot markets next year and the “durable demand…