Commercial Real Estate News Roundup For May 15, 2015
The Wire goes food court, CBRE beats first quarter national forecasts, falling oil prices could create new multifamily investment markets, industrial investors eye niche markets and more: It’s all here in the Commercial Real Estate News Roundup for May 4 2015.
- CBRE first quarter beats forecasts and jumps 37%. Dallas Business Journal, April 30, 2015 – CBRE’s profit of $92.9 million or 28 cents per share reportedly due to performance in the Americas.
- Falling oil prices could create new preferred markets. BisNow, April 29, 2015 – Atlanta, Denver, Charlotte and other non-energy dependent markets are the new preferred multifamily investment markets.
- New alternative construction defect reform package hits Denver condo market. Denver Business Journal, April 21, 2015 – There are four bills currently being shepherded by Democrats in the Colorado state house that could potentially increase the number of available condominiums, bring down the cost of condo construction and potentially lower insurance rates for highly rated builders.
- Retail REITs rise in first quarter. International Council of Shopping Centers (ICSC) April 29, 2015 – Average rental rates increased on new leases and renewals. Average base rents were up 4% and tenant fallouts were down 24% from 2014.
- National communications firm revamps management offices in Dallas. Dallas Business Journal, May 2, 2015 – Fast-growing Imagine Communications, with offices in Dallas, California, New Jersey, Colorado and London give us a glimpse of their new design for their revamped executive management office in Dallas.
- 10/60 Corporate Center in Tempe gets noticed with redesign. BisNow, May 1, 2015 – Tempe’s 10/60 Corporate Center’s redesign includes an open floor plan and a 7 spaces : 1000 sq. ft parking availability that draws one new large tenant, Freedom Financial Network for one of the center’s 45K SQ buildings.
- Industrial investors eye niche markets. GlobeSt., April 23, 2015 – Niche markets like food-grade buildings, freezer-cooler buildings, data centers and truck terminals are getting renewed attention. The recent growth and on-shoring that is going on in the US in driving investors to look at all asset classes in the industrial sector.
- Blighted section of East Baltimore attracts 16M food hub. BisNow, April 16, 2015 – A former film location for the popular TV series, “The Wire” will soon be a $16M food hub. The Baltimore Food Hub’s 15K sq. ft. space will house a commercial kitchen and incubator for a variety of food related businesses.
- ICSC RECon 2015 in Las Vegas from May 17-20th. Cushman Wakefield, May 2015 – Cushman Wakefield will be ISCS’s global partner for the 2nd year in a row for the ICSC RECon 2015. Keynote speakers include Denver Broncos quarterback, Peyton Manning, New York Times best selling author on leadership John Maxwell. Find the program here.
- New Hampshire could soon lose dozens of fuel stations. CSPnet, Convenience Store and Fuel News, April 8, 2015 – New regulations requiring double-walled underground fuel storage tanks could push several stations out of business as soon as December 2015. There are 745 mostly gasoline and diesel tank systems across the state that will need replacement. This could cause many stations to close down rather than having to pay to retrofit their systems.