Tag Archive: recovery

Best Performing U.S. Cities of 2013

Brought to you by the Milken Institute, which is a nonprofit, nonpartisan economic think tank, the Milken Institute works to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health. The MIlken Institute examines which U.S. metros are thriving and which are only…

2013 Commercial Real Estate Review

It’s that time of the year again when everyone and their mother posts their yearend review for 2013 and/or forecast for next year, 2014.  I’m not going to do that, but instead linked is Deloitte’s 2014 commercial real estate forecast, which is long, detailed and usually fairly accurate.  I will summarize and editorialize a bit…

More Product In Single Tenant, Net Lease Retail Market

With 10 year treasuries at just under 3%, we’ve seen about a 100 bp rise in rates over the last couple of months.  Is this finally affecting the super hot, investment grade, single tenant, net leased retail market?  I’m seeing more triple net, single tenant product on the market over the last month or so,…

Westerville, Ohio – Uptown Facade Improvement Grant Money Available

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…

Commercial Construction Rebound Due to New Multifamily Construction

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…

Southern California Home Sales for March 2012

For March 2012, DQ News reported that 19,953 new and resale homes sold Southern California last month. That was up from February by 36% and up 2.8% from the 19,412 sold in March 2011.  The average increase is 37% from February to March since 1988, when DataQuick’s statistics began.  This sounds like great news, but…

Commercial Real Estate First Quarter 2012 Recap

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…

The Joseph Luxury Hotel in Columbus Short North

The Joseph in Columbus' Short North

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…

Southern California Home Sales for February 2012

DQ News reported that 15,573 new and resale homes sold Southern California in February 2012.  That was up from January by 7.2% and up 8.4% from February 2011.  Plus it was the best February since 2007.   The increase in sales between January and February was larger than usual. On average, sales have risen 1.1 percent…

Commercial Real Estate Lending Update

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…

Northeast Ohio Jobs and Utica Shale

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…

Southern California Home Sales for January 2012

DQ News reported that 14,523 new and resale homes sold last month.  That was way down from December by 24.5% but up .4% from January 2011.  Normally, sales are down from December to January because investors frequently want to close before year end and traditional residential buyers hold off until March or so to get back…

Banks Move Carefully Back Into Commercial Real Estate Lending

For the first time in five years, a majority of banks are considering growing their loan portfolio due to improving conditions in just about all sectors of the economy. There’s neither an overwhelming consensus nor a large gain in activity, but most banks feel that they are through the worst of the write downs and…

Strong Comeback for Commercial Real Estate

It’s back!  Business is cranking again and the phone is ringing.  CoStar news reports that the dollar volume of commercial real estate transactions are back up to historical long term average and that’s with a lousy third quarter 2011, due mostly to the debt limit impasse  That’s a total of $291.6 billion last year, which…

Columbus Ohio January Commercial Real Estate Construction Review

DAI-Arena-District-Columbia-Gas

The unseasonably warm January weather has helped keep many of the new Columbus Ohio commercial real estate downtown projects on or ahead of schedule. Walker Evans from Columbus Underground brings us up to date on many new downtown projects such as the new apartments at Grandview Yard, The Columbia Gas Building, FBI Building, Nationwide Offices, Hilton…

Columbus and Central Ohio Retail Market Report 2011

Positive net absorption has continued for the last eight consecutive quarters.  The first half of the year was strong then third quarter weakened due to the uncertainly caused by the U.S. debt ceiling increase negotiations.  Fourth quarter picked back up to make for a decent if not a stellar year. “Retail Markets throughout the country…

Monthly Commercial Real Estate Property Closed Sales Results

November 2011 sales index

CoStar’s monthly National Composite Index of Commercial Real Estate increased for the seventh consecutive month in November 2011.  I know its January 19, 2012, but it takes them around 45 days to get the numbers out to us.  Leading the price recovery again has been investment grade property.  There’s nothing new there as I’ve been writing…

National Retail Federation – Forecasts 3.4% Growth for 2012

America’s largest retail trade organization forecasts a healthy 3.4% growth for 2012.  That’s below the 4.7% of 2011, but the rate of growth for 2012 is sustainable at least until the next bust and there will be one in seven or eight years.  Nothing is going to make the boom bust cycles go away. The…

New Data Shows Broad Gains in Commercial Real Estate Construction

According to Randyl Drummer at CoStar News, non residential commercial construction posted a 4.5% gain in November over same month last year.  All segments showed solid gains. Residential commercial construction starts for apartments resulted in the strongest monthly performance in 18 months. According to Randyl, manufacturing expenditures on new construction was up 12.6% over last…

Investors See Commercial Real Estate as Good Investment

According to Roger Vincent with the LA Times.  “As 2011 came to a close, some commercial real estate experts found promising signs in often troubled markets.” I agree, but that’s quite an understatement in certain segments.  In certain market segments, it’s getting real competitive and in others, it’s still lagging. Primary markets are doing much…