Market Data

International Beat

Russia's Big Deal

Pharmstandart recently purchased the 62,700-sm Northern Tower Business Center in Moscow for an estimated $260 million. This was the region’s largest transaction since 4Q09, according to Cushman & Wakefield. Moscow office properties traded in 11 out of 15 of Russia’s investment sales during the first half of the year, with five of those deals exceeding $100 million. Investor and tenant demand in Moscow for quality office space is almost back to pre-crash levels.

Markets to Watch

Asia Pacific — This region continues to see strong cross-border interest in quality assets, according to Jones Lang LaSalle. Among several notable 2Q10 transactions were Mori Trust Sogo REIT’s $1.2 billion purchase of a 50 percent joint ownership in the Tokyo Shiodome Building and a $200 million retail portfolio sale in Australia. Overall, investment sales volumes were up 21 percent in 2Q10 from 2Q09. Though the region saw a 34 percent decline in overall sales volume from 1Q10 to 2Q10, several large transactions are pending, and improving fundamentals are expected to fuel an uptick in investment activity before year-end.

It Costs How Much to Park Here?

There’s no better real estate investment than a parking garage in a busy city — especially if it’s in London’s CBD where the monthly parking rate of $933 topped Colliers International’s 2010 survey of world parking rates. London’s West End, Hong Kong, Tokyo, and Rome rounded out the highest monthly rates, which ranged from $873 to $615. In comparison, Midtown Manhattan’s monthly rate of almost $540 seems like a bargain. And go for the $200 monthly pass in Abu Dhabi, United Arab Emirates, instead of paying the world’s highest daily rate of $55.

Recommended

This Is the Altered Normal

Fall 2020

Esri’s data on consumer behavior, demographics, and employment can help real estate adapt in the COVID-19 world.

Read More

Building Progress

Fall 2020

Moody's Analytics Reis Chief Economist Victor Calanog, Phd, CRE, outlines how construction in many sectors will fail to meet expectations for 2020.

Read More

Market Trends in Commercial Real Estate

Summer 2020

Office Renters Change Priorities in Wake of Pandemic | Recreational Real Estate on the Rise | Case Study: COVID-19's Impact on Eastern PA Big-Box Market | Hospitality Owners Have Reservations as Occupancy Drop | Seniors Housing Responds to Mounting Pressure from Pandemic | Mixed-Use Developments Can Keep It Local | Supply Chain Reacts to Social Distancing | Self-Storage Weathers Early COVID-19 Storm

Read More

The CMBS Stress Test

Summer 2020

The commercial mortgage-backed securities market is particularly vulnerable amid the COVID-19 pandemic, with borrowers and lenders looking for creative solutions to unprecedented problems.

Read More