Market Data

International Beat

London's Big Deal

A European office REIT and a Chinese property developer joined  forces to buy a trophy office building in London for approximately  $391 million. NorthStar Realty Europe Corp. and China Resources Land Limited acquired 20 Gresham Street from AXA Investment Managers. This investment is the first commercial real estate investment in Europe for CRL. Located in London's largest business district, the 242,807-sf property is close to St. Paul's Cathedral and the Bank of England. The building is fully leased with blue-chip financial service firms, which include ICBC Standard Bank Plc, TSB Bank plc, Sacker & Partners LLP, and TLT LLP. 

SO17_42a

 


Global Markets to Watch

Rents in Grade A office buildings in Beijing's CBD are expected to decline 15 percent by 2021 as supply continues to rise in 2017, according to the China Daily. The vacancy rate for premium office buildings in Beijing rose to 6.1 percent in Q1 2017, up 0.5 percent from Q4 2016, leading to a 0.2 percent decrease in the average monthly rent, according to Savills in London. High-end leasable office space has grown to 10.08 million square meters in Beijing.


According to Real Capital Analytics, U.S. cross-border monetary flow has slowed down over the past four quarters.

Continue Reading

SeptOct2017_Cover

Recommended

Market Trends

September.October.17

What are the top 10 cities to start a business? | Skilled labor needed to boost manufacturing. | Projected shortage in 2026 for senior housing equilibrium.

Read More

Regional Outlook

September.October.17

 Chicago's Willis Tower starts $500 million renovation.| Cannabis expands Denver's industrial market. | The retail market in Boston is strong.

Read More

Market Trends

July.August.17

Current Market Trends: Millennials are moving the needle on retail. | Disruption is coming for grocers. | Retirement properties grows as a niche investment market. | Artificial Intelligence is the new user interface. | What's in store for medical office buildings in 2017?

Read More

International Beat

July.August.17

 

Read More