Last week, Yahoo became the most recent large tech company to announce layoffs and office closures as it explores alternatives for its web business. Moves like this highlight the growing issue of sublease space among tech and energy companies, whose expansion drove demand for office space in recent years. Are new availabilities relieving tight conditions or a sign of something more severe? Plus, interest rate survey data from Trepp.Read More
When the Pritzker Architecture Prize jury selected Alejandro Aravena of Santiago, Chile, as the 2016 laureate, it was not only for what Aravena designs, but also for what he does not design. The firm for which he serves as executive director, Santiago-based Elemental, has earned international attention for designing low-cost social housing that provides “half a house”—a home that people can inhabit, plus a framework that allows them to double the size of their dwellings as they have time and resources.Read More
Richard Rogers, an internationally renowned architect recognized for people-oriented building design and development, has been named the 2015 recipient of the ULI J.C. Nichols Prize for Visionaries in Urban Development. Rogers was honored as part of the ULI Europe Conference in Paris.Read More
Apartments had a very strong year in 2015, with rent growth averaging 4.8 percent and occupancy averaging 95.8 percent according to MPF Research, a division of Real Page. But apartment market activity slowed late in the year, and opinions are mixed about whether it was seasonal slowing or a sign that markets are cooling. Plus, interest rate survey data from Trepp.Read More
Over the next decade, 20 markets worldwide—including south Florida; Santiago, Chile; El Bajío, Mexico; and Philadelphia—are set to emerge as global logistics hubs, according to a new report from CBRE Group Inc.
Stock market volatility is raising questions about the strength of U.S. commercial real estate markets. Retail availability stood at 8 percent in the third quarter of 2015, according to CBRE—100 basis points above the low reached in 2006. Market fundamentals have been strong, but will negative headwinds change the outlook for the retail sector this year? Plus, interest rate survey data from Trepp.
Philadelphia has historically been known as “a city of firsts”—the first library, hospital, and post office in the United States were all founded there. So perhaps it is fitting that it has become the first World Heritage City in the United States, a designation that could be a boon for local tourism.
Underlying real estate property fundamentals are healthy and asset valuations are high. However, interest rates are moving higher and a market misalignment has been created where many real estate investment trusts are trading below net asset value. Tax, policy, and legislative changes also are helping set the stage for REIT activity this year. Plus, interest rate survey data from Trepp.
Real estate investment trusts (REITs) ended the year with a total return of 3.13 percent. Healthy demand for all types of space led to higher revenues and improved REIT profitability; rising property values created an attractive environment for sales. But high property valuations also made acquisitions difficult and left many REITs considering alternatives for expansion. Plus, interest rate survey data from Trepp.
Last week, the Federal Reserve raised its target funds interest rate by 25 basis points to 0.50 percent—the first increase since 2006. Residential mortgage REITs gained 3.37 percent Wednesday on the belief that higher interest rates will benefit the sector, and the manufactured-homes sector also posted strong gains.