Tariffs imposed by President Donald Trump of the United States have disrupted a large portion of the property investment sales market, sidelining some investors just as buyers and sellers were coming closer together on pricing, according to Marcus & Millichap President and CEO Hessam Nadji.
About 50% of investors the brokerage is tracking have paused activity until more of the tariff issues are settled, Nadji said in an interview at the ICSC Las Vegas industry convention this week.
Even so, other investors are taking advantage of the uncertainty created by the tariff policies and being aggressive, looking to "pounce" in the sales market, he added.
In April, Donald Trump imposed a 10% unilateral tariff on goods imported into the United States. However, the tax on Chinese goods coming into the United States now stands at 30% as the administration and China negotiate during a 90-day pause in their trade war.
Tariffs aside, retail real estate is leading a rebound in commercial property pricing, Nadji said, and it is in "a much better position than it's been in 20 plus years."
Watch the video to hear Nadji discuss how the management reorganization that Calabasas, California-based Marcus & Millichap announced last month will help the brokerage's sales growth.