the Editors of Commercial Property Executive
JLL’s Margaret Caldwell and Kris Cooper: Retail Around the World
The United States: A More Promising Start to 2013 Although there will continue to be headwinds throughout much of 2013, there are signs that the United States’ retail property market may soon turn a corner. In the first quarter of 2013, $8.2 billion in of retail properties transacted in the United States, and the retail pipeline remains robust. The sector has tremendous pent up demand for core properties. Interest rates are still incredibly low, and will be low for the foreseeable future compressing cap rates for quality product. Net absorption easily outstripped new supply during the quarter by nearly one…
Sampson Morris to Redevelop Wholey’s Building into Apartments
Sampson Morris Group is planning to redevelop the seven-story New Federal Cold Storage facility in the Strip District into 144 one- and two-bedroom loft apartments. Also known as the Wholey’s building, the windowless property is located at 1501 Penn Avenue.
How to Better Expose & Market Your Commercial Property
By Randolph T. Mason, CCIM, SIOR, Partner, Commercial Realty Specialists: Exposing and marketing your commercial property is one of the bigger challenges landlords have in any market.
The Road to Retail Recovery: The Southeast Rebounds
In order to lead JLL Retail’s local market expansion in the Southeast, my wife and I recently returned to Atlanta from Montgomery, Alabama. We’ve enjoyed getting reacquainted with the city and the retail market in the region, and have realized that the retail landscape is as diverse as it is prevalent. Each market has something different to offer, and when you look at the recovery of retail real estate in cities throughout the region, you see that not all markets are created – or recovering – equally. During our exploration of Southeast retail, three markets stood out as important to…
Milhaus’s $26M Downtown Redevelopment Obtains Rezoning, Design Approvals
Milhaus Development has received design and rezoning approvals from the Historic Preservation Commission to repurpose the former Mitchell & Scott industrial site in downtown Indianapolis into a five-building apartment complex.
Located in the Chatham-Arch historic district, the $26 million project will bring a total of 236 apartments, including studio, one-, two- and three-bedroom units. Rents will range between $900 and $2,000 per month.
Will Investors in Nonperforming Loans Flock to Europe?
Chris Seyfarth, Partner, Ernst & Young L.L.P.: Only a year or so ago, global investors in distressed loans were primarily focused on the U.S. Today, as our fifth annual survey of the Nonperforming Loan (NPL) sector attests, investors increasingly are seeking investments in Europe’s emerging market for distressed debt.
How E-commerce is Impacting Retailers’ Real Estate and Construction Needs
E-commerce has become an important sales channel for traditional brick-and-mortar retailers, which are now vying for market share from e-commerce shopping sites that have set the bar on customer experience. Specifically, retailers are increasingly adopting a “multi-channel strategy,” resulting in changes in the design, construction and development of the buildings that comprise the supply chain – for both speculative and build-to-suit facilities. Below are just a few of the ways retailers are preparing for and executing their multi-channel strategy – and it’s all about design: Mezzanine areas are multiplying: E-commerce companies typically have large mezzanine areas, which require ceiling heights…
Blackstone to Acquire Hyatt Regency Waikiki
The Blackstone Group has agreed to purchase the leasehold interest in the 1,230-room Hyatt Regency Waikiki Beach Resort and Spa in Honolulu.
According to the Real Estate Alert, the property’s current owner – a joint venture comprised of Goldman Sachs’ Whitehall Street Real Estate Fund and the Hyatt Hotels Corporation – is selling the hotel for approximately $450 million, or $366,000/room. Eastdil Secured is brokering the transaction on behalf of the seller.
Fishers Medical Office Building Wins BOMA’s TOBY Award
The Building Owners and Managers Association (BOMA) has named the St. Vincent Medical Center Northeast, a medical office building in Fishers, the North Central Region winner of The Outstanding Building of the Year (TOBY) program.
Developed and managed by Duke Realty, the approximately 119,800-square-foot facility at 13914 Southeastern Parkway opened in 2008. The building is part of Ascension Health’s newly built St. Vincent Fishers Hospital.
Shannon Robertson: Green Generating Growth
Real Estate Investment and Development Trends in Latin America By Shannon Robertson Multinational business expansion, commodity demand and foreign direct investment are driving economic growth in Latin America. As a result, real estate investment opportunities are growing throughout many of the largest markets and cities in Latin American countries, and sustainability initiatives are playing a role in advancing economic stability. Recent industry research released by Jones Lang LaSalle analysing Latin American real estate suggests a trend in these markets: that the strongest-performing economies, which are best positioned to grow and accommodate urbanization, are those that have made investments in sustainable…
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