Dees Stribling
Economy Watch: Tech Impact on Office Space Stronger Than Ever
As mobile devices, videoconferencing and other technologies become more commonplace, organizations are increasingly thinking about how they can connect their employees more effectively in the office environment, according to CBRE’s latest Global Prime Office Occupancy Costs report.
Economy Watch: Hotel Development Still Strong
Hotel planning and construction in the U.S. grew again in May, with more than half a million rooms under contract across nearly 5,000 projects, according to a recent STR report.
Economy Watch: Fed Sure of Economy, Raises Rates, Promises Asset Sell-Off
The Federal Reserve unanimously decided to raise rates for the second time in 2017, signaling its belief that the U.S. economy is strong enough to handle more expensive financing.
Economy Watch: Retail Sales Dip in May
By Dees Stribling U.S. retail and food service sales dropped 0.3 percent in May compared with April, the Census Bureau reported on Wednesday. That’s the weakest monthly report for retail sales in more than a year and a half. Compared with the same month last year, however, retail sales were still up by 3.8 percent. As usual, some retail categories fared better than others. A handful of categories experienced month-over-month sales gains in May, such as furniture, up 0.4 percent, and apparel, up 0.3 percent. Grocery stores, as well as health and personal care stores, both eked out 0.1 percent…
Economy Watch: Commercial Construction Planning Sees Uptick in May
Both the commercial and institutional components of the Dodge Momentum index increased for the month, suggesting that construction activity for commercial buildings will continue to rise over the next year, according to the latest Dodge Data & Analytics report.
Economy Watch: Americans Generally Optimistic About Economy
A new Pew Research Center report reveals that nearly six in 10 Americans believe the current economic situation is good, which bodes well for commercial leasing. However, the same participants weren’t as optimistic about future prospects.
Economy Watch: Rents Volatile in Many Markets in May
While nationwide apartment rents are still on the rise, several markets have recently faced spikes in rent, according to a recent ABODO report. Rent decreases going into June, on the other hand, were on the smaller side.
Economy Watch: Fitch Report Optimistic About CRE
In its first annual U.S. Equity REITs Handbook, Fitch predicts continued positive property-level fundamentals across most asset classes in 2017. Industrial REITs and office REITs with properties in technology-focused markets should perform particularly well.
Economy Watch: Construction Spending Takes a Dip in April
Both private and public construction spending declined for the month in almost every property category, according to the Census Bureau, including in lodging and health care.
Economy Watch: Job Growth Tepid in May
The U.S. economy saw below-average job growth for the month, adding only 138,000 jobs, the Bureau of Labor Statistics reported. However, segments of the economy that affect commercial space absorption still had reasonably good job creation.