According to a new report by Jones Lang LaSalle, continued global uncertainty as Europe's sovereign debt crisis weighs heavily on the financial markets. This has already led to a sharp downturn in liquidity across nearly all fixed income sectors, including CMBS. Lenders have struggled to amass enough loans to package into securities ... Read More
According to Jones Lang LaSalle's North America Year-end Retail Outlook report, the retail sector continues to edge tentatively toward recovery, buoyed by a stellar start to the holiday shopping season, as retailers, landlords, and investors capitalize on pent-up consumer demand. Read More
SL Green Realty and The Moinian Group announced this week that one of the world's leading consolidated marketing communications companies, WPP's Young & Rubicam Group, is relocating Y&R, Wunderman and their network companies to 3 Columbus Circle. Under the agreement announced today, the Young & Rubicam Group is taking approximately 340,000 square feet ... Read More
Based on Trepp's CMBS Delinquency Report released today, the delinquency rate in November for U.S. commercial real estate loans in CMBS fell 26 basis points to 9.51%. This was the second biggest drop in 2011, surpassed only by August's 36 point drop. The rate has now fallen in four of the eleven months of 2011. The value of delinquent loans is now $58.5 billion. Read More
According to the U.S. Census Bureau of the Department of Commerce, construction spending during October 2011 was estimated at a seasonally adjusted annual rate of $798.5 billion, 0.8 percent (±1.6%) above the revised September estimate of $792.1 billion. The October figure is 0.4 percent (±1.9%) below the October 2010 estimate of $802.0 billion. Read More
According to Jones Lang LaSalle's third annual Port, Airport and Global Infrastructure (PAGI) report, the air freight industry is having a bumper year from a surge in global trade and higher cargo volumes. This surged has spurred additional demand for warehousing space around many U.S airports. Read More
According to the National Association of Realtors (NAR), commercial real estate markets have been relatively flat this year, but improving fundamentals mean a more positive trend is expected in 2012. Lawrence Yun, NAR chief economist, said there is little change in most of the commercial market sectors. Read More
(MIAMI, FL) -- "Don't bet against real estate" was one of the themes at a recent Realtors Commercial Alliance (RCA) conference this past week at the Biltmore Resort in Miami, a day-long event sponsored by the Miami Association of Realtors that focused on the current conditions of the U.S. commercial real estate investment and development marketplace Read More
Based on new research from CBRE Group, New York City remains the world's most expensive shopping destination as retailers focus on the major fashion capitals, but as the Eurozone crisis continues to impact consumer confidence; rents have leveled off in all global regions in the third quarter of 2011. Read More
Prolonged economic uncertainty in the U.S. is still taking its toll on the architectural community. According to the American Institute of Architects (AIA), after a sharp dip in September, the Architecture Billings Index (ABI) climbed nearly three points in October. Read More
Based on a new report by Jones Lang LaSalle, Manhattan's primary office rental markets posted mixed results in October 2011. Class A vacancy moved higher in October, up to 11.4 percent, after falling for the last several months. Although the rate declined through the summer months, it has not fallen below 11.0 percent since November 2009. Read More
Miami-based brokerage and advisory firm Blanca Commercial Real Estate has announced that the Consulate General of Mexico will relocate its South Florida office to 1399 SW 1st Avenue in Miami's Brickell Financial District. The Consulate General will occupy approximately 23,000 rentable square feet of space ... Read More
According to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations, third quarter 2011 commercial and multifamily mortgage loan originations were 98 percent higher than during the same period last year and 10 percent higher than the second quarter of 2011. Read More
Based on the most recent data from the U.S. Census Bureau of the Department of Commerce, construction spending in the U.S. during September 2011 was estimated at a seasonally adjusted annual rate of $787.2 billion, ... Read More
According to Jones Lang LaSalle's mid-2011 U.S. Data Center overview, the U.S. data center market will continue to grow in the latter half of the year as demand shows no signs of slowing. Due to the thawing capital markets, providers and users of data center space are now able to make decisions, ... Read More
According to Jones Lang LaSalle's High-Technology Industry Report, the resurgence of the high-tech industry has made a substantial contribution to Manhattan's office market recovery that began in mid-2010. After a significant decrease in 2009 caused by the economic downturn, high-tech employment has been consistently increasing ... Read More
Based on a Manhattan-based Massey Knakal Realty Services' Third Quarter 2011 Property Sales Report for the entire New York City area (Manhattan, Northern Manhattan/Bronx, Brooklyn, and Queens), during the first three quarters of 2011 (1-3Q11) there was $19.1B in NYC property sales, a 111% increase from 1-3Q10. Read More
According to Jones Lang LaSalle's Third Quarter 2011 United States Office Outlook Report, the U.S. office market absorbed approximately 9.4 million square feet of space in the third quarter of 2011, bringing the year-to-date total to more than 24.5 million square feet, eclipsing 2010 levels by more than 75 percent. Read More
(MIAMI, FL) -- Beyond the coming Panama canal expansion boom in 2014, the new Free Trade Agreements with Colombia, Panama and South Korea will offer additional new opportunities to expand international trade and commerce that will be a direct and significant benefit the Port of Miami and the State of Florida overall. Read More
Freddie Mac announced today a new offering of Structured Pass-Through Certificates ("K Certificates"), multifamily mortgage-backed securities. The company expects to offer approximately $1.0 billion in K Certificates ("K-015 Certificates"), which are expected to price this week or the week of October 24, 2011, and settle on or about November 9, 2011. Read More
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What do you think the economy will do during the rest of 2012?
| U.S. Office Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Inventory (sf in 1000s) |
3,577,546 |
3,575,039 |
| Completions (sf in 1000s) |
2,507 |
1,386 |
| Absorption (sf in 1000s) |
3,304 |
8.566 |
| Vacancy Rate | 16.2% |
16.2% |
| Net Asking Rent ($ per sf) |
24.63 |
24.67 |
Source: CBRE Econometric Advisors
| U.S. Industrial Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Inventory (sf in 1000s) |
12,730,225 |
12,723,912 |
| Completions (sf in 1000s) |
6,313 |
5,128 |
| Absorption (sf in 1000s) |
34,595 |
26,462 |
| Vacancy Rate | 13.7% |
13.9% |
| Net Asking Rent ($ per sf) |
5.37 |
5.37 |
Source: CBRE Econometric Advisors
| U.S. Retail Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Inventory (sf in 1000s) |
2,759,474 |
2,757,091 |
| Completions (sf in 1000s) |
2,383 |
1,335 |
| Absorption (sf in 1000s) |
3,493 |
-2,982 |
| Vacancy Rate | 13.2% |
13.3% |
| Net Asking Rent ($ per sf) |
18.15 |
18.32 |
Source: CBRE Econometric Advisors
| U.S. Multifamily Market | Current Qtr. (Q3 - 11) |
Prior Qtr. (Q2 - 10) |
|---|---|---|
| Rentable Inventory (units) |
14,506,567 |
14,491,920 |
| Rentable Completions (units) |
14,647 |
12,501 |
| Absorption (units) |
67,382 |
92,619 |
| Vacancy Rate | 5.0% |
5.4% |
| Same-Store Rent Index ($/unit) |
$1,254.76 |
$1,239.12 |
Source: CBRE Econometric Advisors
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