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Ohio Capital Markets 2020 Research Report

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First recession since mid-2009

In 2020, the U.S. recorded its first recession since mid-2009 when annualized GDP growth for Q1 2020 slipped into negative territory as the COVID-19 pandemic began to impact global markets. Then came the record loss of 31.4% in Q2 as states and cities across the country implemented strict restrictions on businesses and shelter-in-place orders to minimize the spread of the deadly disease.


But, unlike many recessions, this downturn was not a financial shock, which freezes asset liquidity and debt markets. The shock was self-induced through a temporary, intentional suppressing of economic activity. As soon as government-mandated restrictions were eased, the economy surged, recovering as quickly as it had tanked and posted record GDP growth of 33.4% in Q3 before normalizing to a 4% growth rate in Q4.

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Ohio Capital Markets 2020 Research Report

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Related Experts

Loren DeFilippo

Director of Research | Ohio

Cincinnati

Loren oversees all  research activities for Colliers'  Ohio markets including, Cincinnati, Cleveland, Dayton and Akron/Canton.  His responsibilities include the collection, aggregation and analysis of data regarding office, industrial, retail and  multifamily asset classes, along with capital markets.  He prepares reports documenting current economic and commercial real estate market  conditions and provides forecasts to assist brokers  and clients in making informed business decisions. A firm believer in the power of knowledge, Loren utilizes research as a marketing tool in conjunction with the firm's marketing and business development efforts. Loren leverages  his 30+ years of career experiences as an architect, a broker specializing in the leasing and sale of office properties and market researcher to accelerate the success of our brokers, clients and stakeholders.

 

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Shenan Murphy

CEO & Principal | Cincinnati & Dayton

Cincinnati

Growing up, I always knew I wanted a job where I would be in control of my career path, and commercial real estate has allowed me to do that both personally and professionally. I began my career as a retail and investment broker in 1989. Today, I leverage my previous brokerage experience and knowledge to oversee the strategic and daily operations of Colliers International | Greater Cincinnati and Dayton. As the CEO, I make it a priority to provide the best strategic leadership and oversight to a truly remarkable team. In addition to commercial real estate, I have created a diversified and innovative family of companies providing brokerage sales, investment services, construction services, information technology services and property management services.

The experience I gained from holding a variety of positions throughout my career has allowed me to reach a broad base of clients and establish valuable relationships throughout Greater Cincinnati and Dayton. These relationships have provided the opportunity to aid some of the region’s most successful companies in making sound real estate decisions.

In addition to my daily responsibilities with Colliers, I find great joy being involved in my community. One of my personal goals is to help the Cincinnati community and those around me to move forward and grow with energy and purpose. I am a member of various organizations serving the community such as the University of Cincinnati Foundation (Board Member), the University of Cincinnati UCATS (Board Member), the University of Cincinnati Diamond Club for Baseball (Chairman), the University of Cincinnati College of Business (Real Estate Board Member), the Greater Cincinnati Regional Business Committee, and Cincinnati Young Presidents Organization.

I hold the CCIM commercial real estate designation and have affiliations with ICSC (International Council of Shopping Center), ULI (Urban Land Institute), and NAIOP (National Association of Industrial and Office Properties).

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Joe Wiles

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I have spent the past 20+ years as a Professional B2B Executive Sales Leader that has served in many roles within the sales arena. Roles included: direct sales leader, consultant, new business generator, developer of existing accounts, sales manager, Sr Director of Sales and Managing Director. I am a loyal and dedicated sales leader who understands and values relationships while delivering solutions to specific client needs.

I have prospected and developed new business accounts, taken over existing under performing accounts and teams; grew them, sold re-branded products and solutions, all while maintaining and growing current business. I have excelled at building and growing sales teams while achieving sales goals and maintaining a focus on ebitda and revenue. Through each of these roles and learning experiences, I have come away with a singular understanding - my passion is for delivering results for my B2B clients and being a quantifiable leader within an organization. I have come to understand sales operations and processes throughout my career, but I have learned that my true value is using B2B relationships to garner solutions and results for my clients. 

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