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(% population age 0 to 4 by Designated Market Area [DMA]) Click on images to enlarge.  

  Despite seasonal volatility in the first quarter, commercial real estate prices across the board posted strong annual gains, demonstrating the breadth of the pricing recovery as investment activity expands across the property types. Multi-family prices have had the best recovery by far of the four major property segments.  After posting the strongest results in the first quarter, pricing in this segment is now up 33 percent from its trough in 2009.  While the multi-family sector’s outperformance is partially driven by relatively stronger fundamentals, it is also a function of lenders, largely the GSEs, providing cheap debt financing following the…

By Louis Pashman An option in a contract is considered to be a “time of the essence” provision. Thus, the parameters for exercise of the option must be strictly met. Because the property owner cannot unilaterally withdraw the offer contained in the option, courts will require the holder to adhere strictly to its terms. As is often the case, however, courts have carved out exceptions based on fairness or equitable principles. Every party to a contract is bound by an implied duty of good faith and fair dealing. A prime example of that involved a tenant who had an option…

Startups aim to change the face of online CRE brokerage

When Transwestern announced it would manage a 2 million-square-foot portfolio in the New York City region for the Metropolitan Transportation Authority, the news was significant—and not only because of the size of the contract.