Browse Tag: economic recovery

When High Vacancy Rates Persist Even As The Economy Recovers

Jim Garringer, CCIM, SIOR

Speaking in national terms, employment growth is tepid, and the pace of economic recovery is not what anybody would consider ideal.  These trends apply unevenly across regions and markets, meaning that in some places, recovery is presenting a “new normal” of economic growth that nonetheless includes a commercial property hallmark of economic recession: high vacancy rates.

The disconnect between national trends and some local realities is easily found: national declines in vacancy for office, retail, industrial and apartments are loudly touted  but not as prominent are reports (taking southwestern Florida only as a handy example — apologies to any Gators) of office vacancy rates mired in the high-mid teens. 

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Grubb Goes Olympic, Hands Out Job Recovery Medals

Okay, not actual physical medals.  But commercial real estate titan Grubb & Ellis had a neat idea the other week.  As part of their “Good News Friday” series, they decided to take a look at the Bureau of Labor Statistics data on job recovery and then award gold, silver and bronze medals to the top three metro areas in each of the nine census divisions.  The results are heartening and a little surprising.  On top and awarded with the gold,  you’ll find Omaha, Pittsburgh, Austin and Boston with some eye-popping numbers — Austin especially.  Cue the Olympic theme music!

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Recovery Not Limited To Biggest Commercial Markets, Says CCRSI

Picture of a small town mall

The June 2012 CoStar Commercial Repeat Sale Indices are a look at a limited number of repeat commercial repeat sales.  The numbers look at a set of repeat sales in April 2012 in two main ways: value-weighted, meaning relevant to premium properties and markets in order to see broader trends in capital flow in commercial markets, and equal-weighted, which focuses on more average-priced commercial properties.

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New NAR Commercial Numbers: Transactions, Income Up In 2011 For REALTORS®

Pictures of raised thumbs

It’s official.  2011 was better for NAR Commercial member practitioners.

REALTORS® who spend some or all of their activity in leasing, commercial sales, brokerage, industrial space, land development, office space, multifamily, retail and property management answered the NAR’s 2011 Commercial Member Profile survey, reporting a rise in their median gross income as well as an increase in transactions.

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