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Foreign Investment Tide Shifts: As Asian investors continue to divest of U.S. real estate, Canadian and European interests quietly have increased their U.S. holdings, gradually offsetting the sharp decline in Asian investment. According to the Labor Department’s Bureau of Economic Analysis, direct foreign investment
Hawaii's Real Estate Markets Thrive Despite Slow Tourism: Geographically and culturally situated between the United States and Asia, Hawaii offers residents and tourists diverse natural attractions, recreational activities, and an agreeable climate. However, “contrary to mainland impressions, tourism makes up less than 30 percent of the state gross
Georgia Real Estate on My Mind: For commercial real estate in Georgia the theme has been growth, though concerns about overbuilding remain for the state’s capital and largest city, Atlanta, an economic hub of the Southeast. Brokers are guardedly optimistic about the prospects of various property
International Beat(12): Markets to Watch London &mdash &ldquo London repriced very sharply,&rdquo says Tony McGough, global head of forecasting at DTZ in London. &ldquo So much of the bad news is out of the way and rents dropped so much that even
Institutional Investors Rethink Their Real Estate Holdings: Pension funds and life insurance companies traditionally have been long term real estate investors. However, recent market changes have made these institutional investors rethink how these assets fit into their portfolios. Real estate historically has appealed to these investors because
International Beat(6): “By 2050, 19 of the 30 largest economies will be from the emerging world. … The rise in income per capita in the emerging world will dwarf that of the U.S.” The World in 2050, a report by HSBC Global
Investors Flock to Washington, D.C., Commercial Real Estate Markets: While the rest of the country copes with job losses, an uncertain economy, and diminished corporate spending, the Washington, D.C., metropolitan area remains strong because of increased government spending. In fact, the government added nearly 50,000 office jobs in the
The Internet Rewrites the Rules for Brokers: Clearly, the Internet has changed how commercial real estate is leased and sold. Web sites in use that are run by commercial real estate professionals range from those that provide simple information to sites that assist buyers and sellers or
International Beat(7): New York’s Big DealSpanish clothing retailer Zara paid $324 million for the former NBA stores at 666 Fifth Avenue in New York, which will become its North American flagship store. At $8,300 psf, a record even at New York prices,
International Beat(9): Mexico's Big DealHSBC sold 90 bank branches and regional offices in Mexico to eight local investors in a $90 million sale leaseback deal, according to Jones Lang LaSalle, which assisted with the transaction. More than 100 foreign and local investors
International Beat(3): Poland’s Big Deal Horizon Plaza office complex in Warsaw sold for around $136 million, as Poland’s property market heats up. Total property investment volumes are up 50 percent, on track to reach €2 billion by year end. The office sector
International Beat(14): Markets To WatchSydney, Australia — Industrial developers found 4Q08 difficult due to a lack of financing and a slowdown in tenant demand, according to Cushman & Wakefield. But despite very little rent growth, Sydney’s submarkets experienced several sales. A vacant
International Beat(5): “ China and India are starting small and carefully, identifying partners they can trust. Long term relationships will flow from that process. We are already seeing this with the space needs of Chinese banks in Western financial centers.” — Colin
Debt Capital Remains Available Despite Market Changes: Despite rising interest rates and increasing spreads, debt capital remains available and in demand for commercial real estate. While institutional lending was up significantly as of second quarter 1999 and all institutional lenders have been active, some interesting changes in
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&rsquo s largest transaction since 4Q09, according to Cushman & Wakefield. Moscow office properties traded in 11
Land of Lincoln Is Looking Good: Due to its “robust economic development activity from Chicagoland to the juncture of the Ohio and Mississippi Rivers,” Illinois was named the top state for business development in 2001 by Site Selection magazine. The state ranked first in three criteria
International Beat(11): MARKETS TO WATCH Warsaw &mdash As Poland&rsquo s most affluent city and largest retail market, Warsaw has some of the lowest retail vacancy rates in Europe. The city&rsquo s large shopping centers average between 0 percent and 3 percent vacancy.
Job Growth Heats Up Arizona Outlook: Arizona has become a preferred destination for businesses as several recently have relocated to the state. “The Phoenix metro area — and the state in general — is attracting new significantly sized employers,” says Steven Nagy, CCIM, of Nagy Property
Investors Find Value in Japan's Nonperforming Mortgage Loans: As a result of the Asian economic crisis, Japanese banks have a large number of nonperforming mortgage loans that will require a significant effort to resolve. The Japanese Ministry of Finance estimates that problem real estate assets held by Japanese
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,
International Beat(8): China's Big Deal Scheduled to open this summer, Parkview Green FangCaoDi is China's first Leadership in Energy and Environmental Design platinum certified urban mixed use building. Located in Beijing, the four building structure is enclosed by an environmental shield, which
International Beat(2): Brazil's Big Deal U.S. developer Tishman Speyer already has leased half of the first phase office space in the Castelo Branco Office Park, a six tower, 27 acre development in suburban Sao Paulo. BRICs Lead the Way The BRICs &mdash
International Beat(10): Japan&rsquo s Big Deal In Japan&rsquo s largest real estate deal of 2009, Secured Capital of Japan purchased Pacific Century Place, a 32 story class A office property located adjacent to Tokyo Station in the city&rsquo s Marunouchi business district.
The Keystone State Holds Strong: Host to the creation of the Stars and Stripes, the drafting of the Constitution, and four games of the first World Series, Pennsylvania is steeped in U.S. history. Today the state claims the nation's largest rural population, which contributes to
Lessons Learned: What has the commercial real estate market taught us in the past three years? Humility in many cases, and perhaps balance, as market participants measure the pain of a 40 percent loss in value against more intangible items, such as