Nationally speaking, the finance of owner-occupied commercial real estate seems to never get significantly easier. Our current national economic conditions of recovery have not yet heated up the average enthusiasm of bankers for financing sub-$2M expansions in most real estate sectors, which ensures a more or less permanent lending gap affecting small business that Congress has recognized and addressed with the creation of the Small Business Administration.
Dating back to the Herbert Hoover administration, what eventually became the SBA was established by Congress to help businesses hurt by the Great Depression of 1929-39. Shepherded along by Franklin Roosevelt, the program evolved during World War II to assist smaller suppliers with loans in competing against huge corporations for manufacture of war materiel. The SBA we know today was created in 1952 by Congress and signed into law the next year by Dwight Eisenhower, spinning it off from the US Department of Commerce into the standalone agency “under the general direction and supervision of the President”.
7(a) – The SBA’s Keystone Loan Program
SBA’s lending and programs are many, but the biggest and most used is called 7(a) Loan Guaranty, where loans up to $5M are available to business for a wide range of purposes including real estate financing. Terms can reach as long as 25 years while most loan repayments are shorter than that.
Fixed-rate 504 loans
While SBA offerings under its 7(a) program are fairly well known, less widely known is the 504 Certified Development Company loan program. Offering long-term fixed-rate loans for purchases of real estate or equipment, 504 is lauded for lower costs because the fixed interest rates tend to be below-market.
Intermediaries called Certified Development Companies commonly secure 40% of such loans, with 10% coming from borrowers and the remaining 50% coming from a private lender under SBA guarantee. According to the most recently published SBA Quarterly Lending Bulletin, the aggregated number of small business loans outstanding reached almost $600 billion, reflecting a rise year-over-year of 1.7%.
Both commercial industrial (C&I) and commercial real estate (CRE) loans make up small business loans.1 A careful look at these loans shows that they continue to indicate progress in capital availability for small businesses. For example, C&I continues to maintain a positive uneven growth (Figure 2). In addition, the decline in the small business share of CRE loans has slowed. C&I loan standards changed little in the first quarter of 2015, but bankers reported easing standards and terms on loans secured by nonfarm nonresidential borrowing (Federal Reserve’s Board Senior Loan Officer Opinion Survey). While there was not a significant change in demand for C&I loans, respondents reported that the demand was stronger for all CRE loan size categories.
The reminder is that SBA financing is a heavily-used option for the commercial real estate deals that are in the reach of professionals in secondary and tertiary markets. As the recovery struggles to spread itself evenly across all the scales of local market in the US, 7(a) and 504 programs are there to make that recovery felt in every corner of the economy.
Big mergers, global buyers desire one-stop-shopping, industrial pricing may be at its peak, Wal-Mart shrinking, Apple’s fresh look, booming multi-family market — and more. It’s all here at the Commercial Real Estate National News Roundup for September 8, 2015.
- Cushman & Wakefield Takes Historic Leap Forward, Commercial Property Executive, September 3, 2015 – Consolidation continues to shake up the CRE industry.
- The Cloud’s Impact on CRE is Clear, GlobeSt.com, September 1, 2015 – Construction pipeline for data centers surges.
- How the Global Economy is Affecting US CRE, GlobeSt.com, August 31, 2015 – Lower oil prices coupled with few jobs overseas cause investors to continue to be bullish on the US property market.
- Top Tech Cities in U.S. Commanding Hefty Office Rent Premiums, World Property Journal, September 2, 2015 – Opportunities for CRE investment trending way up in markets that command up to an 87% rental premium.
- It’s Not About Where You Do the Work, GlobeSt.com, September 2, 2015 – Productivity trumps location for many in today’s office market.
- The Most Dominant Office Market Trend, GlobeSt.com, August 31, 2015 – Tenants are expanding and bringing out of state divisions to the Tampa office market.
- Hot Baltimore-Washington Corridor Industrial Market Sees Another Sale, Commercial Property Executive, September 4, 2015 – Investors rush to buy property in industrial “promised land”.
- NY Investor Grabs East Baltimore Industrial Site, Commercial Property Executive, September 2, 2015 – Existing tenants make acquisition very attractive.
- Industrial Pricing Heads Toward Peak, GlobeSt.com, September 1, 2015 – Sales activity for industrial properties approaches 2007 high.
- Can Wal-Mart Support 5,200 Stores?, 24/7 Wall St., September 4, 2015 – Will Wal-Mart’s empire expand or decrease in 2016?
- Apple Stores are About to Change in this Huge Way, Fortune, September 2, 2015 – Apple stores to get a fresh new look soon.
- Retail Development Picks Up in Louisville, GlobeSt.com, September 2, 2015 – National retailers flock to the I-65 corridor in Louisville’s metro area.
- High Walk Score Makes MF Stand Out, GlobeSt.com, September 4, 2015 – Value-added properties that offer high walkability and family fun are very desirable in suburban areas.
- The Latest on Rent Growth, Commercial Property Executive, September 1, 2015 – Multi-family rent growth holding strong, but volatile international stock market may trigger a cooling soon.
- Steady Hiring Favors Multifamily, GlobeSt.com, August 31, 2015 – Consumer confidence and a record number of 20 somethings in the market drive multifamily income opportunities.
- The Largest Company in Each State (247wallst.com)
- ‘Game-changing’ $2B deal to merge Cushman & Wakefield, DTZ complete (bizjournals.com)
- Commercial Real Estate News Roundup For August 31, 2015 (commercialsource.com)
Since 1990, the EB-5 visa program has been a tool for converting international capital flows into local economic development and employment, creating jobs in targeted areas and offering foreign investors visas for doing so. Funds from foreign investors are often channeled into capital for commercial development projects and a cottage industry around the process has arisen in the years since it first came online. Commercial brokers and developers across the country have participated in projects funded in part by EB-5 investors, and the interest level is on a steady rise.
Since the time when I published a large list of EB-5 Regional Centers, we’ve seen the program in the news, backing interesting and sometimes even exciting projects all over the U.S.
With Finance Sometimes Comes Allegations Of Fraud
Along with this spike in interest and EB-5 participation has come charges of fraud and abuse from the SEC, such as the recent case of two commercial property developments that allegedly weren’t, both in Seattle. Using private placement memos and subscriptions that, according to prosecutors, did not accurately reflect the project to investors, has landed one developer in hot water. While non-EB-5 proposals are just as susceptible to fraud as those under the program, other cases abound, and concerns about lack of transparency as to the program’s effectiveness have been raised.
Report Cites Successes, Challenges, Provides Perspective
A recent Report by the Brookings Institution cites EB-5’s increased utilization despite a “dearth of reliable and publicly available data [on] the economic impacts of regional center investments.
An hour spent with the Brookings report will very well serve the reader interested in understanding the broad shape of the EB-5 program. It’s invaluable for parsing out the network of intermediaries in the program, understanding compliance requirements and learning the history of successful partnerships between regional centers, investors and the communities they serve.
Baby boomers and millennials have more in common than we thought, office construction surges in largest commercial market, medical offices in residential centers are very desirable, retail and multifamily rentals are getting harder to find — and more. It’s all here at the Commercial Real Estate National News Roundup for August 31, 2015.
- The Future That Boomers, Millennials Have in Common, GlobeSt.com, August 28, 2015 – “New urbanism” trend requires city centers to be more attractive to boomers and millennials.
- Can Blackstone’s Real Estate Business Keep Growing?, The Real Deal, August 26, 2015 – Continued growth for the giant seems likely due to fund investors holding stakes in Blackstone’s private equity and/or hedge funds.
- A Whole New Set of Demographics, GlobeSt.com, August 24, 2015 – GlobeSt’s 15th Anniversary triggers contemplation about the current market drivers and how most didn’t see the trends of boomers, immigrants and millennials leading the way in CRE in 2015.
- 5 Best Office CBDs to Invest In, National Real Estate Investor, August 27, 2015 – Office buildings in central business districts evaluated on cost and rising expected returns across the country.
- New York City Office Construction Heats Up, The Wall Street Journal, August 26, 2015 – Construction of new Gotham office space hits 25 year high.
- Medical Office Properties Command Investor Attention, National Real Estate Investor, August 24, 2015 – Boomers aging over next 10 years push demand for single and multi-tenant medical office buildings (MOBs) located near residential urban centers.
- JLL Wins $103M Industrial Portfolio Gig, GlobeSt.com, August 27, 2015 – Nine-figure deal includes class A, B and C industrial space that is located in submarkets between Tampa and St. Petersburg area.
- Strongest Landlord Market for Chi. in 30 Yrs., GlobeSt.com, August 25, 2015 – Greater Chicago area’s Q2 absorption, vacancy, leasing and level of new construction activity potentially historic.
- Marijuana Producers Gobble Up Warehouse Space in Denver Area, The Wall Street Journal, August 25, 2015 – Small businesses are struggling to find warehouse space due to 400 marijuana distributors’ constant need for more grow space.
- Consumer Confidence Soars, Retail Spending Follows, National Real Estate Investor, August 27, 2015 – New Cushman & Wakefield research shows consumers are in a good place and finally spending again.
- Resuscitating Dead Malls, Commercial Property Executive, August 25, 2015 – Creative use of space requires service providers like banks and law firms to be flexible and adjust to outside of the box options for new uses for large spaces.
- Cause and Effect of Shrinking Retail Inventory, GlobeSt.com, August 25, 2015 – Landlord’s market means rising rents and lack of retail space should drive redevelopment and new projects over the next few years.
- The Biggest Shift in Apartment Management, GlobeSt.com, August 28, 2015 – Value-add deals and Class-B product now more attractive to investors.
- Investors Charmed by LA’s Rosy Economics and Hot Multifamily Market, National Real Estate Investor, August 25, 2015 – Multifamily, hospitality and a booming job market are all making LA highly attractive to investors.
- In Demand: Top Cities for Multi-Family Rentals, Commercial Property Executive, August 24, 2015 – Developers can’t keep up with demand for multi-family housing in 11 U.S. cities by population.
On a morning of Wall Street and global equity market correction, sell-side signs in commercial RE mount, yet the secondary and tertiary markets that lagged and logged the least recovery look best from an investment standpoint. It’s all here at the Commercial Real Estate News Roundup for August 24, 2015.
- How Technology Is Shaping CRE, National Real Estate Investor, August 21, 2015 – The national leader in 20K+ sq ft. leases is tech and it’s not even close.
- Commercial Real Estate is Believed to be Overpriced, Realty Today, August 19, 2015 – More rumblings of a national price top from another research report.
- With Property Prices Hitting New Peaks, Where Do Brokers See Investment Opportunities?, CoStar, August 19, 2015 – Where? In a word, secondary and tertiary markets. Wait, that’s two words.
- Commercial Real Estate Market Getting Overpriced — Report, Pensions & Investments, August 18, 2015 – More from the sell side, this time with an institutional investment spin.
- Why I’m Optimistic about CRE for the Next Few Years, National Real Estate Investor, August 18, 2015 – Capital markets, low unemployment and more factors will extend the hot streak, says David Lynn.
- U.S. Top Country for Asian Outbound Property Investment, London Top City, World Property Journal, August 19, 2015 – Chinese capital’s record of landing in western capitals extends another year.
- Foreign Investment in U.S. Real Estate Assets to Hit Record High, National Real Estate Investor, August 19, 2015 – CoStar and RCA publish the numbers on foreign investment, and the numbers are big.
- Where Is the Demand for Office?, National Real Estate Investor, August 20, 2015 – Flat vacancy rates are driven by suburban gluts and other factors tallied up here.
- Office Today, Apts. Tomorrow: Office-To-Residential Conversions Expanding Across More U.S. CBDs, CoStar, August 19, 2015 – KC, St.Louis, Milwaukee and Cleveland are among the downtowns leaping on the trend.
- US Real Estate Emerging Market: Converting Upper Floors of Unused Brooklyn Retail Space into Offices, Realty Today, August 18, 2015 – Meanwhile in Brooklyn, even more surprising conversions.
- US Leads the Way in Logistics Clusters, GlobeSt.com, August 20, 2015 – 80 square feet per household: that’s how much warehousing and logistics space the US sports.
- Why the outlook is strong for industrial REITs, The Globe and Mail, August 18, 2015 – In Canada, the picture is rosy for industrial demand and so for investors looking to participate in the bonanza with share buys.
- Port Export Cargo Volumes Plummet, GlobeSt.com, August 18, 2015 – Perhaps in part fueled by Chinese and global equity market correction, west coast exports are down
- Too Much Atlanta Industrial Spec?, GlobeSt.com, August 18, 2015 – New industrial projects in Atlanta add up to concerns about saturation.
- Investor From Down Under Goes All In, Commercial Property Executive, August 20, 2015 – All in on retail with anchor stores such as Sears, says $175MM Aussie investor
- Skirmishing German Discount Grocery Rivals Roll out U.S. Store Plans, CoStar, August 19, 2015 – Grocery wars heat up in Los Angeles. A German company is guaranteed to win.
- Here Are 7 Online Retailers Going Brick-and-Mortar, BISNOW, August 18, 2015 – Upscale, upscale and upscale are how you’d describe these e-tailers foray into personalized customer service under a roof.
- Some MF Markets May Be in the 7th Inning, GlobeSt.com, August 20, 2015 – Once again, the greener pastures and more relaxed competition found in secondary markets, says veteran of multifamily sector.
- U.S. Developers Focus on Luxury Apartments Puts Added Pressure on Renters, World Property Journal, August 20, 2015 – How a boom in apartment construction actually adds up to fewer options for renters.
- Why Investors in Washington Multifamily Deal Don’t Stand Out from the Crowd, Commercial Property Executive, August 17, 2015 – Crowdsourced financing for a deal outside a Washington State airbase.
(Above: Fed Chair Janet Yellen addresses Congress).
Will she or won’t she (raise rates)?, Chinese capital jetting around the globe, Facebook’s $1B like-button storage facility, and hospitality sector optimism put to the test. It’s all here at the Commercial Real Estate News Roundup for August 20, 2015.
- CRE Market Plateauing? New Sentiment Survey Shows This May be the Case, National Real Estate Investor, August 13, 2015 – A note of caution is creeping into the red-hot national market for commercial space, says one survey.
- CRE Surge Sparks Bubble Fears, The Real Deal, August 13, 2015 – More anxiety about a market top.
- Market indicating Fed won’t raise rates in September, CNBC, August 12, 2015 – Will she or won’t she raise rates? CNBC, speaking for all fans of cheap money, hopes aloud that she won’t.
- New York Real Estate Just Got More Expensive For Chinese Investors, Realty Today, August 14, 2015 – The travails of pacific rim capital finding a home on Manhattan island.
- Chinese Investors Flocking to Thailand Property Deals, World Property Journal, August 13, 2015 – Stromg currency and a giant resort marketplace practically next door are adding up to a rise in Chinese investment in Thai property.
- Apartment-Construction Market Thrives in Berlin, Commercial Property Executive, August 11, 2015 – Cosmopolitan amenities including advanced housing concepts are making Berlin even more attractive to apartment developers and renters.
- Chinese Developer Buys Two Seaport Sites, GlobeSt.com, August 10, 2015 – At first I misread this as “buys two seaport cities,” and thought ” that seems like overkill”. But the fact that I even considered the possibility speaks volumes about how much capital is pouring out of China.
- Need Big-Box Space? Good luck, Industrial Experts Say, National Real Estate Investor, August 14, 2015 – Big-box new space demands are still there despite the ongoing war with e-commerce. Construction pace is lagging, says JLL industrial broker.
- Self-Storage Keeps Hitting Historic Highs, GlobeSt.com, August 13, 2015 – Growth in self-storage – at least as reflected by four key REITs – is pointed skyward.
- Data Centers Demand Rises as High as the Cloud(s), National Real Estate Investor, August 10, 2015 – Facebook’s $1B data center shows a growing sector passing a milestone and promising to knock down all future milestones.
- Economy Watch: See-Saw Retail Sales, Commercial Property Executive, August 14, 2015 – Census figures on retail sales look like a yo-yo from month to month, but year-over year are up 2.4%.
- Luxury Retailers Flourish, But Create Limited CRE Demand, National Real Estate Investor, August 13, 2015 – Revenues climb for the ritziest names in retail, but has that translated into expansions?
- Retail Supply Hasn’t Caught Up With Demand, GlobeSt.com, August 13, 2015 – On the west coast, product shortages are defining the commercial property market.
- Macy’s (M), Tishman Speyer Enter Real Estate Purchase-and-Sale Agreement in Brooklyn, StreetInsider.com, August 12, 2015 – Macy’s hops the borough border in a Brooklyn deal.
- The Future of Multifamily: Demand Continues to Rise, But How Will We Keep Up?, National Real Estate Investor, August 14, 2015 – How high does this rollercoaster go, anyway?
- MF Landlords Go All Out with Amenities, GlobeSt.com, August 14, 2015 – It’s not enough to offer apartments and space on the US’s most expensive land. Now, creativity has to appear in the Manhattan multifamily mix.
- Investors Bank Lending Grows in MF Sector, GlobeSt.com, August 13, 2015 – Investment bankers discover multifamily sector, suddenly realize their jobs include stepping away from the casino table to, you know, allocate capital.
- Multifamily Investors Flocking to the Granite State, Commercial Property Executive, August 12, 2015 – New Hampshire’s MF sector
- DC’s Unquenchable Thirst for Apartments, Commercial Property Executive, August 10, 2015
- French Lick Resort’s $600 Million Restoration Completed, World Property Journal, August 14, 2015 – A massive restoration of a classic resort in Indiana captures the imagination — and hundreds of millions in budget.
- Hotel Transaction Activity Reenergized in Charleston, Commercial Property Executive, August 14, 2015 – Take a look at the details of a $29MM 250-room JV transaction in Chucktown.
- Hoteliers Safe from Airbnb, For Now, GlobeSt.com, August 11, 2015 – Tech disruption of hospitality has reached its limits, say CEOs, but bond ratings agency wonders aloud if that’s pollyanna talking.
- Builders Plan Hundreds of Homes, Apartments in $700 Million Richardson Project, Dallas News, August 13, 2015 – North Texas: where the apartment deals run as big as the cattle ranches.
- Abele Fast-tracks Park East Land Sale to Bucks, Awaits Action by Comptroller, Milwaukee Business Journal, August 12, 2015
- Avon, Amherst commercial land sales top $1M, The Morning Journal, August 12, 2015 – Meanwhile, on the shores of Lake Erie, land deals are shaking the rust off the Rust Belt.
- John Paulson Reaps Real Estate Gains in Land Sales, Bloomberg Business, August 12, 2015 – A big, big land portfolio enters the sell side.
A distinguished panel of six commercial real estate experts took the stage in Chicago last week to share perspectives on the radically changing property market for health care.
Assembled at Bisnow’s 4th Annual Chicago Healthcare Real Estate event was a collection of operators, brokers, designers and developers of medical space, including Loyola University Health System’s Director of Real Estate Mike Becker, who kicked things off with an answer about what’s driving consolidation in the space.
“Size drives leverage and size drives scale,” said Becker. “It’s very important to a lot of folks acquiring space [that they get] to that significant size. The reality is that $130 billion has been pulled out of Medicare/Medicaid reimbursements, commercial payers have cut reimbursements significantly, so the larger you are, the more ability you have to negotiate buying power and larger reimbursements. Also, the play today is access to capital, and health care is still a bricks and mortar business…access to capital is easier and flows more freely if your size is more significant.”
John Wilson, President of healthcare property advisors HSA Primecare, added that consolidation was a confluence of three major trends: “Demographics, regulation and technology. In demographics, you have baby boomers, an estimate of 10,000 a day turning 65. So there’s ongoing pressure to the systems. With regulation, of course front and center is the Affordable Care Act, which is not only bringing the newly insured to the health care industry, it’s also shifting payment method from a fee based method to a value-based method, which is really driven by quality of care outcome. And then of course, technology – more and more procedures are moving to outpatient settings.”
Watch The Source for more coverage of the Bisnow Chicago Health Care Real Estate event.
This week’s announcement that Google will restructure itself and become one of a portfolio of companies under an umbrella named Alphabet adds even more mystery to the already guarded real estate plans of the technology giant. Headquartered in Mountain View, CA, Google owns or leases around 10 million square feet of space in locations across the US including 3.8 million sf. in Mountain View alone. Where is Alphabet’s business headed and what kind of space needs are in the cards?
A look at the SEC Form 8K they’ve filed telling stakeholders about the restructuring contains only a few clues. Their plan to create a holding company called Alphabet appears to accomplish a milestone separation. The core web and advertising services (which would include YouTube, Search, Maps, Android, and others) would remain within Google while the company’s major recent moves into biotech (Calico), internet service provision (Google Fiber), environmental controls (Nest), cutting-edge research and development (Google[X]) will be brought into Alphabet and under the direct financial guidance of founders Larry Page and Sergey Brin. At the same time, Larry and Sergey will hand the CEO role of Google to Sundar Pichai.
I see in this a classic sorting of business lines where the most capital-intensive and most speculative ventures are being pulled closer to the founding executives, making it so that an investment in Alphabet is a more direct investment in the vision of those executives.
While there’s no way to tell what direction Alphabet will take in space acquisition, I believe the loudest signals would come in the form of successes in its projects for driverless cars and national fiber optic rollout. Viable automotive designs mean industrial real estate in Alphabet’s future, and probably lots of it. And the more fiber Google can provide, the greater expansion demand for its own already-large data center construction.
More women needed in CRE, Orlando retail and office buildings are in great demand, industrial market strong in Kansas City and more. It’s all here at the Commercial Real Estate Real Estate Roundup for August 10, 2015.
- How Can CRE Industry Attract More Women?, GlobeSt.com, August 5, 2015 – Miami CREW builds network for women.
- Commercial Mortgages Rise 29% Y-O-Y, GlobeSt.com, August 4, 2015 – Going strong with the commercial mortgage rate rising 16% quarter to quarter.
- U.S. Construction Spending Climbs 0.1% in June, Market Watch, August 3, 2015 – Yes, 0.1% in residential, but flat in non-residential and commercial building.
- Orlando Retail and Office Spiking, GlobeSt.com, August 7, 2015 – According to commercial real estate brokerage firm, Marcus & Millichap job growth will be up in Orlando by 3.9 % this for a total of 44,000 more jobs.
- 5 Secondary Office Markets to Watch, National Real Estate Investor, August 7, 2015 – Real estate services firm, JLL reports office property sales were up 19.6 % this last year with Q2 2015 being the best quarter since the downturn of 2008.
- 5 Takeaways from Half-Year Office Sales Performance, National Real Estate Investor, August 3, 2015 – First half of 2015 shows 400% gain in sales in two secondary markets, Raleigh/Durham, N.C. and St. Louis, MO. according to New York’s RCA a data and analytics company.
- Industrial Developers Confident but Careful, GlobeSt.com, August 5, 2015 – Kevin Matzke with Clarius Partners reports ground will be broken for more large industrial space in Chicagoland in 2016.
- Kansas City Industrial Market Surges, GlobeSt.com, August 4, 2015 – Bureau of Labor Statistics reports a healthy outlook for Kansas City industrial employees this coming year.
- Who’s Opening and Closing Stores?, National Real Estate Investor, August 6, 2015 – Bed, Bath And Beyond looking fluffier as time goes on, while old-line grocery names are drooping.
- Retail Investors Prefer Coastal Markets, National Real Estate Investor, August 6, 2015 – The water brings the commerce, the commerce brings the customers.
- Retail is ‘A Big, Interconnected World’, GlobeSt.com, August 5, 2015 – JLL’s Leasing board welcomes a new expert.
- U.S. Builders Remain Optimistic about Senior Housing Market, World Property Journal, August 7, 2015 – The demographic truth behind the graying of the baby boomer generation has groundbreaking consequences.
- New Trends in MF Rental Patterns, GlobeSt.com, August 4, 2015 – Handling the disruption to decades-old patters of suburban migration is an apartment market near you.
- How Multifamily Developers Can Do Well and Do Good, BISNOW, August 3, 2015 – Why do good when you can do well AND do good? Well, you can do both. Which is good.
- Commercial Real Estate Roundup For August 3, 2015 (commercialsource.com)
Like-kind exchanges get a census, Q2 sales slump, office construction booms in ten markets, an intergovernmental turf war, and what does $12 million get you in Milwaukee? It’s all here at the Commercial Real Estate National News Roundup for August 3, 2015.
- Jim Mc Shane Shares His Thoughts On The Next Generation Of Leaders – REJournals, July 31, 2015 – A giant in spec buildings and leasing muses on the state of leadership.
- Like-Kind Exchanges: Highlights from Arizona -NAR, Economists’ Outlook Blog, July 31, 2015 – NAR article counts some 1031 exchanges and comes up with some interesting figures.
- Sales Growth Slow in Second Quarter – GlobeSt.com – July 27, 2015 – Is lower volume due to higher CAP rates, concern over potentially rising interest rates or something else?
- The 10B Real Estate Class : Lessons from the Case of WeWork – Coydavidson.com – July 30, 2015 – Shared office space matchmaker company snags giant valuation – Coy Davidson muses on the fallout.
- Top ten US markets for office construction from Len Rockwell – Lllenrock.com – July 29, 2015 – Raleigh at number ten and Houston at number one. Where is your market?
- 15 Years for Mega Office Leases – GlobeSt.com – July 30, 2015 – What starts with AutoTrader and ends with Google?
- Cincinnati Industrial Market Hits Historic Low – GlobeSt.com – July 31, 2015 – Just like the Cincinnati Reds 2015 baseball season, industrial markets in the Queen City are similarly slumping.
- Biotech Real Estate Boom Shows No Letup – GlobeSt.com – July 29, 2015 – Biotech growth reaches many corners of the country, says Boston conference.
- Twin Cities Industrial Market Accelerates – GlobeSt.com – July 29, 2015 – Minnesota’s submarket leads industrial growth with 90% new construction in bulk warehouse facilities.
Grandbridge Real Estate Capital Closes $8million Loan for Minnesota Apartment Complex – REJournals.com – July 30, 2015 – Minnesota apartment deal comes in with $8 million in insurance dollars.
Why You Shouldn’t Worry (yet) That Developers Are Bringing Too Many Apartment Units To Your City – ReJournals.com – July 31, 2015 – Apartment markets not saturated yet, says July Matrix survey.
Office of Inspector General Challenges HUD Policy Regarding Public Housing For Over-Income Families – JDOffice of Inspector General challenges HUD, intra-governmental turf war results.
- National Spotlight: Walmart Announces New Small-Footprint Stores in St. Louis – Llenrock.com – August 1, 2015 – Wal-Mart, The largest employer and retailer in the US gets small.
- App-less mobile tool strives to engage shoppers, boost traffic and sales – Retailcustomerexperience.com – July 31, 2015 – Exciting shoppers with apps in a marriage of brick and click.
- Marcus & Millichap sells Wisconsin department store for $12 million– REJournals.com – July 29, 2015 – What does $12 million get you in Milwaukee? Why, a shopping mall, of course.