Property Metrics
Top 5 Retail Space and Office Building Sales
PropertyShark compiled the top 5 sales in office and retail for July 2017 in New York City.
Investment
The average price per square foot for all property types came to $207,000 in the second quarter of 2017, with CBD Office commanding the highest value at $397,000.
Development
New development (on a square-foot basis) decreased compared to July 2016 for all property types.
Demographic Shifts Pick Up Speed in Orange County
Employment gains, a moderate supply of new development and a high barrier to homeownership have bolstered strong multifamily demand in Orange County, pushing up rents and keeping occupancy over 96 percent.
Oil Prices, Supply Still Influence Houston’s Market
The outlook for Houston’s multifamily sector will stay cloudy as the market continues to show signs of instability, mostly due to negative rent growth and decreasing occupancy in the upscale Lifestyle segment.
Steady Growth Cultivates Building Boom in Columbus
Rents are escalating due to steady employment gains and net in-migration, driven by activity associated with Ohio State. Average rent reached $876, well below the national figure of $1,316.
Eds and Meds Spur Growth in Pittsburgh
Despite a slowly shrinking population, the city’s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors. Through May, rents rose 0.3 percent, trailing the nation’s 1.5 percent rate, Yardi Matrix data shows.
Tech Scene Stays Hot, Rent Growth Cools in San Jose
Rent growth has been decelerating since it reached double-digit levels in 2015. As of May, the metro’s $2,675 average rent was more than double the national average of $1,316, according to Yardi Matrix.
CMBS Delinquencies
Delinquencies continued to drop year-over-year as of June 2017, except for the lodging sector, which increased by $1 million.