What noteworthy transactions or deals from this year best exemplified key market trends or shifts? 
Rather than focusing on a single transaction, I want to highlight a broader market shift that occurred when the Federal Reserve began cutting interest rates. This move toward a lower-rate environment made projects more appealing to both banks and developers, leading to a significant increase in transaction volume. Our closing volume in the second half of the year was more than double that of the first half. This momentum has continued into the fourth quarter and I expect it to carry over into 2025.

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024? 
2024 was another successful year for our team. We expanded our market share, grew our staff, and further strengthened the Rockland brand on the North Shore. Key accomplishments include hosting several events where clients had the opportunity to engage with Rockland’s senior and executive management teams, often at client-owned businesses. Additionally, our team maintained a strong presence in the community, dedicating significant time to initiatives such as Habitat for Humanity, Build a Bed, and The Valedictorian Project. It’s truly rewarding to be part of a team that gives back to its community. 

What emerging trends will drive investment and development in 2025? 
In 2024, the commercial real estate market faced challenges, particularly a reduced availability of debt. However, in the coming year, we expect this trend to reverse. Lending from non-bank sources including CMBS, CLOs, and Life Companies is expected to increase, freeing up bank balance sheets and improving overall market liquidity. Combined with an overall positive outlook for the real estate industry, these factors will drive investment and development, despite some remaining challenges.