For the second year, Westerville’s Uptown District will be awarding up to $15,000 in grant money per property for improvements ranging from paint, new windows, awnings to concealing rooftop wiring. Eight local businesses will be receiving grant dollars from the Westerville Industry and Commerce Corp., acting in behalf of the City of Westerville. $200,000 is…
CoStar News reports that new apartment construction at four or five times the national average for other types of commercial construction in certain markets will cause vacancies to increase. “Apartment construction has been on a tear in certain markets,” CoStar says. “With the inventory growing at more than four or five times the national rate,…
There were 22,915 homes sales for all of 2012 and that was up 15.5 percent from 2011. These are the best numbers since 2007. Average sales price was up 7.2 percent to $167,459 for 2012 and December was $158,898, which is up 7.5 percent from December 2011. Median price was also up 8.7percent to $144,500…
Developers report that although money is still tight for new commercial development, money is far more available that it was a year ago, especially for new multiunit development. “It’s a good time to be a multifamily developer,” says David Cardwell, vice president of Capital Markets for the National Multi-Housing Council. “I don’t know of any…
New data show major rebound in both commercial and residential construction led almost entirely by multifamily and single family development. Developers and builders started construction on the highest number of single family homes and apartments since July 2008. Multifamily rose 10% in October 2012 to an annualized rate of 285,000 units. Single family building application…
CoStar’s CCRSI index show strong pricing gains across all commercial real estate segments for September 2012. Third quarter commercial real estate transactions closed with with strong pricing gains. CoStar’s two broadest indexes that measure aggregate pricing movement for commercial real estate properties, the CCRSI’s U.S. Value-Weighted Composite Index and the U.S. Equal-Weighted Composite Index, posted…
Reis Reports announced that the 126,022 unit Columbus / Central Ohio multifamily market vacancy rate had fallen to 6.1 percent by the end of the second quarter 2012, which is the latest quarter we have numbers for. That’s down 30 basis points over the prior quarter and down a whopping 190 points from second quarter…
I did a short post on the Dublin, Ohio, Bridge Street development a couple of weeks ago. I’ve since located much more detail regarding the long term development, which is at the link thanks to Walker Evans of the Columbus Underground blog. The development will bordered by I-270 on the north and west and State…
Today, I’m going to take a look at the preferred type of product for most of my buyers, and frankly for most buyers on the market these days, and that is triple net or absolute net, single tenant, single parcel, corporate leased retail. We’re talking the Wal-Mart’s, Kohl’s on the large end. Walgreens and CVSs…
Today, I’m going to take a look at the preferred type of product for most of my buyers, and frankly for most buyers on the market these days, and that is triple net or absolute net, single tenant, single parcel, corporate leased retail. We’re talking the Wal-Mart’s, Home Depots, Kohl’s on the large end. Walgreens…
We analyze, list, market, and sell, single and multiple tenant retail properties all over North America using the latest high tech tools available. Retail Lease Terminology/ Recommended Clauses for Commercial Lease Agreements/ Triple Net Single Teanant Retail/ Commercial Transactions – SNDA and Tenant Estoppel Agreements/ For commercial real estate properties for sale, see my listings tab…
Many folks are aware that Starwood Capital Group agreed to acquire $1 billion in seven shopping centers from Westfield and KKR. As Starwood is starting to acquire retail commercial real estate we expect other REITs to do the same across the country as an expected surge in new retail properties are expected to hit the…
It was just announced by Mark Heschmeyer at CoStar News that Blackstone, DRA Advisors and AEW Capital invested in large industrial portfolios valued at a total of $1.5 billion. That’s over one third of all industrial sales completed this year. The industrial segment has been healing nicely this year with vacancy falling almost a full point…
First quarter 2012 softened a bit as compared to fourth quarter 2011, but net absorption remained positive according to Mark Heschmeyer of CoStar news. Plus, a mild slowdown in the rate of recovery is balanced by the lack of new commercial space coming out of the ground so as a result, vacancy rates are still…
An Atlanta Developer has signed on to build a $50 million apartment complex with groundbreaking scheduled for late this summer and completion for late winter 2014. The complex will consist of three six story buildings with 300 units over 23,000 sq ft. of first floor retail. Apartments will be built to “condo specifications,” Capitol South Community…
Dublin Ohio’s 800 acre core has been slated for a massive redevelopment effort along Bridge Street from Frantz Road to Sawmill Road. Now, Dublin has a plan that will redevelop the corridor “into a mix of high density uses – an urban, walkable community that will include new options in housing, entertainment, retail and areas…
The Puzzuti Company expects to break ground shortly for an 11 story hotel with office and parking garage. The hotel will be on the east, Italian Village, side of the street with a six story office and five story parking garage on the west, Victorian Village, side of the street a block north of the cap. There…
It’s a mix of both moderately good news and some bad news. Starting with the bad news is that we had a major drop off in construction and development funding from $321 billion last to $240 billion this year. I was pretty optimistic back during the second and third week of January when I was…
Randyl Drummer of CoStar News wrote an interesting article on adaptive reuse, and primarily of surplus U.S. government property. Since construction financing is still very difficult to obtain and there’s a bunch of surplus GSA properties around, much of it in primary or strong secondary markets, it makes much sense to look at creative uses for…
The Utica shale gas resources are forecasted to bring an addition 65,000 at an average $50k per year to the long suffering Northeast sector of Ohio. The area has been Ohio’s highest chronic unemployment since the steel industry shut down in the late 70s and early 80s. According to the study Ohio’s gross domestic product…