Anna Spiewak
Closing “the Gap”
By Craig Tomlinson, Director, Stan Johnson Company: In a commercial property offering, there is invariably a difference between what a buyer wants to pay and what a seller wants to receive. That difference is known as the gap or the spread.
CRE’s Upward Trajectory in 3Q12
By Rick Putnam, Colliers International, Managing Director, Western Region, Capital Markets Group: The U.S. commercial real estate markets have continued their improvement during the third quarter of 2012, albeit at a slower pace than earlier in the year; multi-family product was the exception.
Economy Watch: Home Prices Downtick on Election Day; Job Openings Number Static; Different Day, Same Government
CoreLogic reported on Tuesday that U.S. home prices took a break from their recent upward drift, decreasing by 0.3 percent in September 2012 on a month-over-month basis. The Bureau of Labor Statistics reported in its Job Openings and Labor Turnover Summary that the number of job openings was essentially static. The election is over and the control of the federal government is pretty much where it has been since 2010–a Democratic president and Senate, and a Republican House, mostly at loggerheads.
Economy Watch Weekly: It’s Too Soon to Calculate Hurricane Damages
CPE’s economic analyst, Dees Stribling, gives his update for the week ending Nov. 2.
Binswanger Brokers Sale, Just Closed, of NW Georgia Industrial Building
The Atlanta office of Binswanger has arranged the sale of a former Mohawk Industries facility, a 220,569-square-foot industrial building on 47 acres in Rome, Ga.
Economy Watch: Non-Manufacturing Activity, Employment Trends Index Rise; Inflation Misperception Common
Economic activity in the U.S. non-manufacturing sector grew in October for the 34th consecutive month, according to the latest Non-Manufacturing ISM Report On Business released yesterday. The Conference Board Employment Trends Index increased in October, following a decline in September. U.S. inflation has been relatively low in recent years, but a study released on Monday by the Federal Reserve indicates that the perception of inflation has outrun actual inflation.
Keeping the Faith
When Paul Ellis launched CNL Commercial Real Estate five years ago, he had an unusually short move from the old shop to the new. Glancing out the window at the CNL Center complex on South Orange Avenue in Orlando, he can still see the office from which he once ran Trammell Crow Co.’s North Florida operation.
Vornado’s Sale of Philly Property Tied to Mall Redevelopment
Although Vornado is staying mum, and the chaos wrought by Hurricane Sandy didn’t help, the substance behind the REIT’s announcement earlier this week that it was selling four buildings is becoming clearer.
Economy Watch: Various Businesses Hiring in October; Apartment Industry Growing; Manufacturing Expanding
The Bureau of Labor Statistics’ October employment numbers noted that a fairly wide variety of businesses were doing some net hiring during the month. The National Multi Housing Council reported last week in its latest Quarterly Survey of Apartment Market Conditions that during the third quarter of this year, apartment market conditions are indeed still improving. The Institute for Supply Management’s manufacturing index pointed to U.S. manufacturing expansion in October, the second month of expansion following three months of slight contraction earlier this year.
George Smith Joins S-F Rental Experiment
The concept of pooled single-family rental housing has been slow to catch on in the months since the government launched its official program for distressed assets, yet real estate companies and financiers are increasingly finding ways to get involved with the housing.