cbre just made a big bet on that sector.na olick is here on set with us and has brought two special guests along. >> i have. >> as well. >> as the news. >> kelly. >> which is that cbre. >> purchased industrials, which was a major. >> player in the flexible. >> office space. >> and that's why i'm thrilled. >> to have. ceo jamie. >> hodari of industrious. >> as well as brendan wallace. >> of fifth wall. >> which helped facilitate the deal. >> but jamie, let's start. >> with you. what is cbre investment say about the state of office right now and the recovery? we're still. >> at a record. >> high vacancy rate. >> i think. >> what it's saying. >> is people talk a lot about space and vacancy percent and things. >> like that. >> and this is actually. >> about experience that you look. >> at the buildings. >> people want to be in. and they don't have one square inch of vacancy. and so. >> the name of. >> the game moving forward is how are you running that building? >> what are the operations? what are the what's the experience. >>

this year with further investment expected into the sector despite persistent challenges according to cbrestate market outlook for 2025. karen gilchrist spoke to the executive director and head of leadership for europe who laid out the challenging facing the market. >> expect a recovery in 2025. are there downside risks? of course. persistent inflation and the other is politics. yes, we have seen turbulence in the bond market. in eurozone, we don't think that expectation for interest rates have changed. if you see our forecast when it was when we did our forecast and where market expectations are now, they are pretty much in line. in the uk, yes, market has revised expectations upwards, but also let's wait and see. there are a lot of things that can happen. we are monitoring all these recent developments. >> karen is joining us now with the story. karen, i can't help but wonder at the moment when i hear them sake there saying there is a revival in the real estate market. >> speaking to him, he said there are fundamentals there that point toward this recovery. this was talk of it in 2024, b