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Umpqua Bank 2022 outlook report: A challenging office real estate market offers opportunity in 2022; industrial and multi-family will remain strong

Umpqua Bank 2022 outlook report: A challenging office real estate market offers opportunity in 2022; industrial and multi-family will remain strong

January 6, 2022
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Umpqua Bank 2022 outlook report: A challenging office real estate market offers opportunity in 2022; industrial and multi-family will remain strong

by Lisa Pollinger
January 6, 2022
in Commercial & Industrial
RWES RWES RWES

While the office sector of commercial real estate remains in recovery mode, multi-family and industrial will continue to thrive in 2022 due to tight demand and short supply, according to a 2022 outlook report released by Umpqua Bank titled, “Headwinds & Opportunities: Economic Trends & Predictions for Businesses in 2022.”

According Richard Cabrera, Umpqua’s head of middle market banking, small and mid-size businesses have an opportunity to assess their commercial real estate strategy and capitalize on related growth or investment opportunities.

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“Businesses should continue to reevaluate their current real estate position and strategy given all of the shifting realities of the workplace,” says Cabrera. “Growth-minded companies, especially those needing greater industrial space, with a strong cash position and borrowing capacity, should be ready to capitalize and act quickly on opportunities that arise.”

Commercial real estate is one of the focal points of Umpqua’s Headwinds & Opportunities report, which shares insight from West Coast economists and bank leaders on key issues shaping the 2022 economic landscape, their impact on decision-making and what businesses can do to meet both challenges and opportunities with confidence.

Notable insights in commercial real estate from the report include:

  • Uncertainty in the office sector will continue into 2022, as most employers haven’t pinned down their workplace expectations.
  • The shift to hybrid work, or to more suburban locations, will continue to impact downtown office and nearby retail stores for years.
  •  Multi-family housing looks strong moving forward, due to underproduction for the last 20 years, and pro-housing supply policies.
  • Industrial space remains another bright spot. In the West, manufacturers are demanding additional space, and companies are wanting to place inventory closer to customers.
  • The increase of land prices in recent years means purchases are out of reach for many farm families. Long-term leasing in the sector will continue to become more prevalent.

For the full report, visit: www.umpquabank.com/2022-trends

About the Report

For “Headwinds & Opportunities: Economic Trends & Predictions for Businesses in 2022,” Umpqua Bank interviewed leading West Coast economic and policy experts at ECONorthwest, economic futurist Bill Conerly, as well as bank leaders. ECONorthwest is an independent economic consulting firm that provides economic analysis for clients needing to make policy and investment decisions. Its staff includes seasoned economists, analysts, and policy experts. Conerly is a business-focused economist who specializes in connecting the dots between the economy and business decisions. He has worked for more than 30 years helping companies adapt to changing economic conditions. Conerly has written two books on business economics and regularly contributes to Forbes.

About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California, Nevada, and Arizona. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies to Work For,” and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the seventeenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses.


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