Office
Initial signs of a turnaround are beginning to appear in the U.S. office market. The national office vacancy rate dropped during 2010’s third quarter for the first time since 2007. The upshot for ULI members is that the overall recovery in the U.S. office market is expected to be slow and long. Here are lists of major metros with the best year-to-date net absorption in downtown and suburban Class A office space.
Several hundred real estate professionals recently gathered at a Sustainability Summit in Washington, D.C., to hear Washington-area experts discuss the current and future status of sustainable development. Read what the experts had to say about where we’ve come, where the future is with USGBC’s Leadership in Energy and Environmental Design (LEED) rating system and the current rollout of LEED 2012 for its first public comment process.
Many holders of commercial property loans made from 2000 through 2007 will not be able to pay on time when their loans come due in the next few years. Borrowers will simply be unable to raise enough additional equity capital to make such payments. Learn about the five potential sources of equity for commercial loans coming due and which is most likely to fill the equity gap.
America’s obsession with social networking on sites such as Facebook and its fascination with new technology are spurring one of the hottest trends in the real estate industry today: construction of data centers. Increased demand has also been noted by Doug Hollidge, CEO of Charlotte, North Carolina–based Five 9s Digital. Read about where this development is happening and read advice for those considering development of data centers.
A freestanding Smart & Final warehouse grocery store in Modesto, California, was sold to a private investor for $1.9 million—and at an 8.56 percent cap rate. A nearly 9 percent cap rate in today’s market? It was a triple-net-lease property in a tertiary market. Philip D. Voorhees, senior vice president in the Newport Beach, California, office of CB Richard Ellis Inc. and an expert on triple-net leases offers advice for developers.
What are the latest trends in commercial property values and prices in the U.S, and what is the trajectory for values/prices going forward? A review of four U.S. property price/value indices reveals that investment grade commercial property values and prices were either down 3.3 percent, flat, up 1.61 percent, or up 5.48 percent in the most recent reporting periods. What is the prevailing trend?
Thousands of examples exist of successful energy efficiency renovations of hospitals, schools, and other public buildings. And companies are willing to secure the capital for the renovation and guarantee the energy savings, virtually eliminating the owner’s risk. With all these opportunities and benefits, why are energy efficiency retrofits not happening faster?
The Urban Land Institute’s new Health Care and Life Sciences Council formed to bring private sector developers and investors together with institutional representatives, and others, in order to share knowledge and ideas unique to these asset classes. Read what three of ULI’s members have to say about best practices for successfully developing and managing medical and life sciences real estate.
As a result of current market conditions, commercial landlords are facing fierce competition. One way to distinguish your property from that of the competition is to invest time and energy – not necessarily dollars – in a tenant relations program that is focused on addressing tenant needs and delivering meaningful and high-quality services. Learn how to design and execute a successful tenant relations and retention plan.
Buildings with sustainable design features may cut energy costs and have less impact on the environment than conventional buildings, but there has been little data about the economic benefit for their owners. Is there now evidence that even in the current economic downturn, the green premium holds true?