Higher interest rates are beginning to disrupt commercial real estate deals after a strong third quarter for CBRE, with the firm's chair and CEO noting transactions are being repriced or delayed as uncertainty weighs on the market at the same time corporate spending on real estate is slowing down.

The rising cap rates are causing some deals already under contract to be repriced, while other transactions are no longer proceeding and some expected property sales are turning into refinancing deals rather than trades. CBRE executives also noted capital markets activity slowed in September and expect that weakness to extend into next year.

"Our view is that part of what's going on here isn't just the interest rate situation, and what interest rates are, but what the uncertainty" around interest rates is, CBRE Chair and CEO Bob Sulentic said during the firm's third-quarter 2026 earnings call on Thursday.

"It's our view is that could settle out in the back half of next year," Sulentic added.…