John Sullivan, chair of U.S. real estate and co-chair of the global real estate practice at DLA Piper, was a guest on the latest episode of the Nareit REIT Report.

Sullivan shared some of the findings from the DLA Piper Global Real Estate State of the Market Survey 2024. He described sentiment among CRE executives today as one of “cautious optimism.”

“I think the message we're getting is that people think the skies are starting to clear a little bit. Nobody is saying that we're there yet, but people are looking at interest rates having stabilized and there's an expectation of some rate cuts,” Sullivan said.