Market Data
International Beat(4)
Australia’s Big Deal
The Indigenous Land Corp. purchased the Ayers Rock Resort for US $300 million from GPT Group in one of Australia’s largest single-asset transactions. The resort is the country’s biggest hospitality asset, comprising six hotels, a lodge, a campground, the town of Yulara, the Ayers Rock Airport, and more than 24,000 acres of land.
2011: Direct
Commercial Real Estate Investment
Projected at more than $350 billion, 2011 global direct commercial real estate volumes will be the highest since 2008.
Source: Jones Lang LaSalle
Markets to Watch
EMEA — Retailers plan to expand into 38 countries by year-end 2011; Germany, Poland, France, Spain and the U.K. are their top five targets, according to CB Richard Ellis. However, more than 25 percent of retailers surveyed also picked Russia, Czech Republic, Italy, and Austria as potential retail locations.
2011: CBD Office Rental Increases
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+20%
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+20 to 10%
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+10 to 5%
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+5 to 0%
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0 to -20%
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|
Hong Kong
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Moscow, Singapore, Tokyo, London, New York, San Francisco, Washington, D.C.
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Shanghai, Sao Paulo, Paris, Toronto, Sydney
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Mumbai, Frankfurt, Amsterdam, Brussels, Chicago, Los Angeles
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Mexico City, Madrid, Dubai
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Source: Jones Lang LaSalle
“Overall, during the past year, the vacancy rates for [Moscow] warehouse space declined from 18 percent to 7 percent. By the end of 3Q10, class A rents rose from $100 per square meter to $110 psm annually.”
— Vladislav Ryabov, Colliers International, Moscow