Situs RERC, Deloitte, and the National Association of REALTORS® have once again partnered together to provide you with insight into the commercial real estate market. The year 2016 was certainly filled with surprises, but commercial real estate was able to withstand the external pressures and offer solid risk-adjusted returns. As many investors continue to take a more risk-averse approach, commercial real estate is expected to continue to provide a safe haven for investment in 2017.The economy grew at a sluggish to moderate pace in 2016, and commercial real estate retreated from the active pace set in 2015.Transaction volumes were weak in the beginning of 2016, but gained momentum as the year progressed. Fundamentals were strong in 2016; increased demand for most property types led to low vacancy rates and rising rent growth. In 2017, commercial real estate growth is expected to be more moderate and even flat for some property types. According to Situs RERC institutional investment survey respondents, the market is fully-priced and a correction is looming. However, because of President Trump’s expected positive influence on economic growth, the correction is likely to be staved off for a couple more years.As 2017 gets underway, it is increasingly evident that global uncertainty is the new normal. The implementation and execution of Brexit, acts of terrorism and uncertainties surrounding the policies of the new presidential administration will keep investors on their toes in 2017. Navigating these waters will be a difficult task, but with this edition of Expectations & Market Realities in Real Estate 2017 – Intersection of Global Change: Embracing a New Era, we will provide you with analysis and insight to help you steer ahead.