Final answer:
Investors expect moderate return from commercial real estate compared to marketable securities due to its illiquidity, large size, and lack of portability.
Step-by-step explanation:
Investors expect moderate return from commercial real estate due to its illiquidity, large size, and lack of portability, compared to marketable securities. Commercial real estate is a tangible asset that typically generates capital gains in the form of property appreciation. However, selling real estate and converting the capital gains into cash can be a lengthy and energy-intensive process. On the other hand, marketable securities such as stocks and bonds are more liquid and can be easily traded in the financial markets, providing investors with greater flexibility and access to immediate cash.