News
While commercial real estate investors generally take a positive view on coworking, maintaining a balance of traditional and coworking space in a building is critical when it comes to creating long-term capital value. According to a CBRE survey, investors say that a coworking occupancy of a third of the space or less, with a qualified operator, supports a healthy capital value.
The top two markets for the multifamily sector from last year trade places for 2018, according to Marcus & Millichap’s 2018 Multifamily North American Investment Forecast. Driven by robust employment in the tech sector and soaring home prices that keep rental demand ahead of elevated deliveries, Seattle-Tacoma ranks first on the chart. The metro area outperforms last year’s leader, Los Angeles, which slid one spot.
The North American tower crane tally is holding relatively steady as of the first half of 2018, according to the Rider Levett Bucknall Crane Index. A total of 383 cranes were counted in January 2018, up two from July 2017, a 0.5 percent increase.
The Winter/Spring 2018 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey reflects the favorable changes to the commercial real estate market caused by the recent federal tax overhaul. Survey participants predict that it will cause moderate though uneven growth.
Improved U.S. office market fundamentals should continue, downtown markets will receive a disproportionate amount of new supply, the tech sector likely will remain a primary demand driver, and occupiers will pursue space efficiency and agility this year, according to a CBRE report.
ULI’s Women’s Leadership Initiative (WLI) has received a $90,000 gift from Hines, the global real estate organization, to support the creation of the WLI Hines Innovation Grants, with the goal of helping raise the visibility and number of women in leadership roles in the real estate industry and within ULI’s membership.
According to a recent report from RCLCO, home sales at America’s 50 top-selling master-planned communities surpassed the 2016 totals by more than 17 percent last year. The Villages in Central Florida’s 2,231 sales puts them in the top spot again, while California’s Irvine Ranch, with sales of 1,814, comes in at second place, followed by Florida’s Lakewood Ranch, with 1,206 total sales.
The Federal Housing Authority (FHA) provided some news the housing industry can be thankful for this holiday season—an increase to loan limits across 3,011 counties. In particular, some of the markets that have faced the most rapid price appreciation over the past few years saw a sizable jump. Seattle saw the largest absolute value increase of $75,000 and a 13 percent change. Other notable year-over-year movers include Salt Lake City (8.4 percent), Minneapolis (7.3 percent), and Denver (7.2 percent).
With e-commerce’s stake in U.S. retail at less than 10 percent, suggestions of a “retail apocalypse” of brick-and-mortar stores is greatly exaggerated, panelists said during a ULI North Texas event on the retail sector. Still, panelists at an event in Dallas said the industry has to find new ways to reinvent itself and connect with customers in order to thrive.
Hong Kong has surpassed London’s West End as the world’s most expensive office market, according to new research from Cushman & Wakefield. Using proprietary data, the report ranks occupancy costs per workstation as well as workplace densities for newly developed or refurbished office space globally. At a global level, the average annual cost per workstation rose by 1.5 percent over the past 12 months.
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