Helping Fast Growing Companies Find The Best Space
The COVID-19 pandemic has taken its toll on office investment sales with transaction volume falling to its lowest level since the Great Recession. U.S. office investment sales volume dropped in the second quarter of 2020 to $11 billion, the lowest quarterly level posted since 2010, according to a recent report from data firm Real Capital…
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 87.7% of apartment households made a full or partial rent payment by May 13 in its weekly survey of 11.4 million units of professionally-managed apartment units across the country. This is a 2.1-percentage point decrease in the share who paid rent through May 13, 2019…
Joseph Pimentel and Jon Bannister In the first month after the coronavirus ground the U.S. economy to a halt, the opportunity zone marketplace had slowed along with the rest of the commercial real estate industry. The opportunity zones program has been described by the Trump administration as a tool to inject hundreds of billions of…
Dean Boerner, Bisnow San Francisco Bay Area The coronavirus and stay-at-home orders to contain the pandemic have accelerated retail trends underway long before this year, experts said this week. The steady growth of e-commerce had already hit markets across the U.S., with sites from coast-to-coast seeing vacancies rise and cities looking for ways to react….
(Bloomberg)—Real estate investors are rushing to take advantage of incentives for investing in low-income areas under last year’s U.S. tax overhaul. Joining the mix: Normandy Real Estate Partners LLC, a firm that once owned Boston’s John Hancock Tower. Morristown, New Jersey-based Normandy has started raising a $250 million fund to make investments in “opportunity zones,”…
City Council Committee on Government Operations Hearing on Docket #0106 A hearing on an order approving a petition for a special law re: The Jim Brooks Stabilization Act. The Chair of the Committee is Councilor Flaherty and the Sponsor Mayor Martin J. Walsh, and referred to the Committee on Government Operations on January 11, 2017….
It has been a conundrum in the office market throughout the last few years: the job market has been fairly steady, especially for office-using industries. So why has office occupancy growth been so sluggish? Is it because employers are squeezing new staff into smaller spaces, especially Millennials who are more tolerant of this? Or is…
Multifamily rents are likely to keep rising in 2016—just not as fast as before, according to forecasts for the coming year. “Rising vacancy rates will take the wind out of landlords’ sails and remove some of their ability to keep pushing rent growth at such a febrile pace,” says Ryan Severino, senior economist and director…
Hilton Worldwide has unveiled the debut of a new chain of hotels that will aim to court younger travelers by touting mobile features and lounge spaces in a bid to compete with a space that has been upended by home-sharing purveyor Airbnb. The brand, called Tru by Hilton, is the 13th hotel concept by Hilton…
Ending 2015 with the strongest quarter for multifamily investment sales on record, investors poured $150.6 billion into apartment properties in 2015, shattering the total set the previous year by about 16%, according to preliminary apartment sales data for the year compiled by CoStar. The $47.3 billion in apartment sales for the fourth quarter of 2015…
The most wonderful time of the year wasn’t all that wonderful for Macy’s Inc. The department store chain saw its same-store sales fall 4.7 percent in November and December. Shortly after announcing its disappointing holiday results, Macy’s issued an announcement outlining its strategic plans to cut costs and possibly monetize its real estate. The retailer…
Congress extended the U.S. Immigrant Investor Program known as EB-5 through Sept. 30, 2016 as part of the year-end omnibus federal spending and tax bill, effectively punting on bipartisan proposals to reform the popular but controversial program used to finance the massive Hudson Yards redevelopment project in New York City, among other large commercial developments….
The American middle class is losing its hold on the reins of the U.S. economy, not only because of the drop in incomes and net wealth, but also because the commercial real estate industry is catering to the luxury and working class consumers instead. According to a recent Pew Research Center study, the recession and…