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Active Real Estate Market Warms Up Minnesota: Minnesota’s economic growth recently has faced a labor shortage and high property taxes. “We will continue to be among the strongest performing states in the Midwest,” says Keith Collins, CCIM, of CB Richard Ellis in Minneapolis. “However, because of the
Brokers Predict Continued Multifamily and Industrial Investment: An experienced investment broker's perspective may be the most accurate and reliable measure of market trends that is available today. Of all the parties involved in investment transactions, only brokers have the broad perspective derived from multiple direct experiences and
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(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: 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
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
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
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(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.
International Beat(16): Markets to Watch Shanghai, China — Normally a thriving office market, Shanghai office demand slowed in 3Q08 due to the global economic slump. With vacancies reaching 9.8 percent, prime rental rates stayed flat at 9.9 renminbi ($1.44) per square meters
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(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
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(13): CANADA Toronto Office Nears Completion At far right, Bay Adelaide Centre West, a 1.2 million sf office tower in Toronto&rsquo s financial district, is the first major CBD development in 17 years. Designed by WZMH Partners, the 51 story Leadership
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.
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
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
Market Trends(5): Briefly NotedHospitality — Respondents to Ernst & Young’s Hospitality Investment Survey chose Washington, D.C., Manhattan, Los Angeles, Chicago, and San Francisco as the top five hotel investment markets, despite the fact that Washington and Chicago are not among the top
Market Trends: Briefly Noted Hospitality — Hampered by lack of construction financing, new hotel supply is projected at 1.7 percent for 2010 and 1.3 percent annually for 2011 and 2012, according to Lodging Econometrics. The modest increases will aid hospitality’s recovery, allowing
Market Trends(6): Waterparks Make a SplashWaterparks are no passing fad, according to hospitality experts. Thirty three resorts with waterparks opened in 2007 and 55 are scheduled to open this year, a 32 percent increase that will result in 224 U.S. waterpark resorts
Lifestyle Centers Capitalize on Shoppers' Need for Speed: Despite the economy negatively affecting retailers' sales, the retail real estate market's overall tone is positive. While activity varies by location, investors demonstrate continued interest in retail properties nationwide. As always, tenant mix is critically important Owners of centers with
Market Trends(9): Moving UptownThe urge to move into the city even has reached small markets, including Sioux Falls, S.D., where developer Craig Lloyd is spearheading the $150 million Uptown at Falls Park on a 5 acre downtown site. Containing 500 residential units
Market Trends(10): Residential CrossoverAlthough the majority of 1.3 million members of the National Association of Realtors specialize in residential real estate, many have secondary specialties in the commercial sector. Percentage of NAR Members With Second FocusCommercial brokerage18%Land development18%Commercial property management11%International4%Auction2%Commercial appraisal1%Source 2007
Market Trends(7): Downtown ConvenienceAfter becoming a suburban staple, convenience stores now are entering the urban market in search of new growth opportunities, primarily in successful 24 hour cities that have the residential base to support retail. And the opportunities are there, reports
Market Trends(1): Briefly Noted Hospitality &mdash Instead of trying to time the market, investors should consider a short term hold strategy for hotel assets, according to Stephen R. Hennis, director of STR Analytics. On average, between 2002 and 2006 investors who purchased