Archive for the ‘Market Overviews’ Category
Friday, August 27th, 2010
Click HERE to listen to the Commercial Real Estate Report for 8-2-10!
Bob Clark, News Radio 770 KKOB: Walt, you wanted to start with the industrial market, what is the latest with Industrial real estate.
Good morning Bob. There was a little rally in the industrial leasing market, unfortunately, it has reversed its trend and vacancies are heading upward again. The hardest hit buildings are the older buildings that have some functional obsolescence, a real estate term for old, and flex buildings which are used for research and development.
Vacancies have climbed from 8.6% to 9.1% in the second quarter; this is still less than the high of 11.2% in 2005 so hopefully this is a temporary event.
There were a couple of vacancies that affected the industrial lease market; one was Express Scripts vacating 71,000 feet at 4500 Alexander. The Wildfire TV series lease expired in Rio Rancho at the Fulcrum building and that brought 68,313 square feet on to the market.
Bob: What are industrial spaces leasing for in this market?
Unfortunately we have seen a substantial drop in rental rate since 2008 and the overall average asking rate is around $5.60/sf/yr. Downtown rates are under $4/sf/yr which is substantially lower than the north I-25 rates of $6.33/sf/yr.
Bob: What else do you have for us today?
I wanted to comment briefly on a Data Digest report that came out last week. The good news is that on balance economic activity continues to increase. Unemployment rates were lower in about half of the metropolitan areas tracked by the report, unfortunately, many areas were up in unemployment.
This is a preview of Commercial Real Estate Report 8.2.10: Industrial Markets & Data Digest . Read the full post (500 words, 1 image, estimated 2:00 mins reading time)
Tags: albuquerque, commercial, construction industry, cre, demand, economy, for lease, industrial, investment, investors, leased space, listings, market, market report, New Mexico, opportunities, property management, radio show, real estate, rent rates, sperry van ness, unemployment, vacancies, walt arnold
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Wednesday, August 25th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - CRE prices continue to fall, with retail suffering more than other sectors. Ripple effects will continue to be felt, as many current owners want to sell this year, due to higher tax rates after 2010. With so many properties coming to market, one would assume continued downward pressure on prices. From Bloomberg.com:
U.S. commercial real estate prices fell the most in almost a year in June as the economic recovery showed signs of faltering, Moody’s Investors Service said.
This is a preview of Retail Spaces Lead Drop in U.S. Commercial Property . Read the full post (247 words, 1 image, estimated 59 secs reading time)
Tags: commercial, Commercial Real Estate, cre, economic forecast, economy, investors, market, market reports, Moody's, national, prices, real estate, reports, Retail, unemployment
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Monday, August 16th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - According to Costar, more and more money is being attracted to real estate investment funds. When enough of these cash-flush buyers think the bottom has been reached, a buying frenzy may ensue.
Real estate companies and funds reported raising $3.85 billion in July for real estate-related acquisitions. Almost half of the total raised ($1.85 billion) was by commercial real estate-related firms and funds, while pooled investment funds including private equity and hedge funds raised $1.8 billion, according to data compiled by CoStar Group.
This is a preview of Large amounts reported raised or pooled for CRE investments last month . Read the full post (147 words, 1 image, estimated 35 secs reading time)
Tags: assets, banks, buyer, capital, commercial, Commercial Real Estate, cre, economy, financing, fund raising, investment funds, investors, market, national, real estate, reports, transactions
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Friday, August 13th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - The Motley Fool reports that there are strong signs that the CRE market may have finally hit bottom. Deal volume is increasing as investors, and pools of investor funds, are looking to put idle cash to work in something that yield better than investing in treasuries. Even though banks are still holding significant amounts of CRE on their books, and much more is still hanging out there in non-performing loans, Fool sources indicate that equilibrium may have been achieved.
This is a preview of Can “Delay and Pray” Save Commercial Real Estate? . Read the full post (193 words, 1 image, estimated 46 secs reading time)
Tags: assets, banks, buyer, commercial, Commercial Real Estate, crash, cre, deals, defaults, economic forecast, economy, financing, foreclosures, investors, lenders, loans, market reports, national, properties, real estate, reports, transactions
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Wednesday, August 11th, 2010
JPMorgan Chase & Co. recently announced plans to open at least 35 branches in the area over the next two years, while Regions Financial Corp. is touting efforts to recruit bankers from competitors as it plans to move into a new regional headquarters building downtown. Countless smaller banks are increasing their presence, too, by buying failed banks from the Federal Deposit Insurance Corp.
Tags: atlanta, banks, economic forecast, economy, Fed, foreclosures, investors, John Johnson, lender, lenders, market, market reports, national, projections, real estate
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Friday, August 6th, 2010
From Walt Arnold, CCIM, SIOR | Albuquerque NM, August 6, 2010 - The Albuquerque office market slipped in Q2-2010, with a New Mexico Business Weekly report suggesting a historic vacancy rate approaching. The job market continues to struggle and it results in a rising vacancy rate for office space:
Office vacancy rates climbed to 17.9 percent in the second quarter as Albuquerque underperformed the nation. With the economy teetering on the verge of a double dip recession, an historic 20 percent vacancy rate could be coming.
Tags: albuquerque, commercial, cre, economy, for lease, for sale, industrial, investors, leased space, market report, New Mexico, office, office market, real estate, recession, Retail
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Friday, July 23rd, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - In light of the most recent “regulatory reform” bill that was just signed by the President, some in the commercial real estate industry wonder if legislators are doing all they can to kill what appears to be a building recovery in the CRE market. We want to know if our readers view the likely negative consequences of this legislation as unintended, deliberate, or simple ineptness?
The U.S. financial-regulation bill may halt the already diminished market for asset-backed securities by increasing liability risk for credit raters, a securitization-industry group and bank analysts said.
This is a preview of CRE Insiders Say Reform bill might halt the ABS market . Read the full post (260 words, 1 image, estimated 1:02 mins reading time)
Tags: ABS market, commercial, Commercial Real Estate, cre, legislation, lending, recession, recovery, reform bill, SEC, securities, transactions, wall street
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Thursday, July 22nd, 2010
From Walt Arnold, CCIM, SIOR | Albuquerque NM, July 23, 2010 - In our last weekly commercial real estate radio report on KKOB News Radio 770, we talked about the retail markets and how critical job growth is to fortifying consumer confidence. A report this week in the Albuquerque Journal business outlook talks about the road head in job growth as office vacancies have hit a new high. However, the ABQ market is doing better than the national average. Industry experts are looking to past trends to predict the break in the cycle, and ultimately, that prediction is that there will be one… at some point. The article begins:
Tags: albuquerque, commercial, cre, economy, employment rate, for lease, investment, jobs, leased space, market report, New Mexico, office, office market, property, real estate, recession, tenants
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Thursday, July 22nd, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM — Recently, we posted a blog about the many bullish climate predictions for CRE from Time, MSNBC and Fortune, and now Reuters reports that Prudential Real Estate Investors is also prognosticating very positive outlook, potentially much quicker than normal. A quote from a Pru manager in the Reuters article reads, “‘Last time it took five years for real estate values to go down to where they bottomed. … We’ve done that now in about two years,’ he told reporters in New York. ‘So we are going to see a faster recovery, a faster write-up in the market.’”
This is a preview of More Bullish Commercial Real Estate Outlooks In The News . Read the full post (164 words, 1 image, estimated 39 secs reading time)
Tags: bullish, capital, CMBS, commercial, Commercial Real Estate, Fed, financing, market reports, mortgages, property index, real estate, reports
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Wednesday, July 21st, 2010
From Walt Arnold, CCIM, SIOR | Albuquerque, NM
>>> Click here to listen to the Commercial Real Estate Report 7-12-10 <<<
Bob Clark, News Radio 770 KKOB: Walt you had a few things to talk about today. What do you want to start with?
I wanted to talk a little about the retail market which took a cautionary track in June. Although sales numbers were mixed, consumers just aren’t stepping up and spending at the pace retailers expected. This news is part of a larger downshift as consumer confidence slumped last month and consumer borrowing also fell.
This is a preview of Commercial Real Estate Report 7.12.10: Retail Markets . Read the full post (518 words, 1 image, estimated 2:04 mins reading time)
Tags: acquisitions, albuquerque, asset, auction, banks, cre, economy, for sale, industrial, investments, leased space, listings, market, market report, New Mexico, opportunities, property, real estate, Retail, sperry van ness, tenant, walt arnold
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