{"id":1004134889,"date":"2016-01-15T14:30:21","date_gmt":"2016-01-15T22:30:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004134889"},"modified":"2022-12-01T00:45:59","modified_gmt":"2022-12-01T08:45:59","slug":"decoding-2016","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/decoding-2016\/","title":{"rendered":"Decoding 2016"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/paul.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004134895\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/decoding-2016\/paul\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/paul-e1460486842891.jpg\" data-orig-size=\"800,589\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D90&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1268383228&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;42&quot;,&quot;iso&quot;:&quot;160&quot;,&quot;shutter_speed&quot;:&quot;0.05&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"paul\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Paul Rosta, Executive Editor&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/paul-e1460486842891.jpg?w=800\" class=\"alignright size-medium wp-image-1004134895\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/paul.jpg\" alt=\"paul\" width=\"199\" height=\"300\" \/><\/a>When I was in grade school, I was a pushover for the special offers that often turned up on the back of a cereal box. You collected the requisite number of box tops, mailed them in and waited impatiently for your prize. Maybe you\u2019d get a decoder ring capable of unraveling super-secret messages.\u00a0Lately I\u2019ve been wishing that I could still send away for a decoder, but one that can unscramble messages about what\u2019s ahead for commercial real estate in 2016. It\u2019s hard to recall a time when the signals were more intriguingly varied.<\/p>\n<p>For example, I\u2019ve been thinking a lot about some provocative comments made last October by <a href=\"https:\/\/www.commercialsearch.com\/news\/special-report-how-long-will-multifamily-defy-gravity\/\" target=\"_blank\" rel=\"noopener\">Ryan Severino<\/a>, REIS Inc.\u2019s senior economist &amp; director of research. Speaking at Multifamily Executive\u2019s annual conference in Las Vegas, Severino offered a contrarian view to the notion that the multifamily sector will continue full steam ahead indefinitely. \u201cIt\u2019s going to be very challenging going forward because everybody and their mother is building apartments today,\u201d Severino warned. \u201cBe careful\u2014it\u2019s not going to be as easy over the next four or five years.\u201d<\/p>\n<p>Or take retail investment. During the International Council of Shopping Centers\u2019 annual New York City convention in early December, Faris Lee Investments\u2019 CEO <a href=\"https:\/\/www.commercialsearch.com\/news\/where-are-we-in-the-cycle\/\" target=\"_blank\" rel=\"noopener\">Rick Chichester<\/a> told me that business is bustling, the market looks generally sound and retail rents are stabilizing. Most encouraging of all, buyers are \u201cgoing through a very disciplined process to underwrite the value of the investment.\u201d One side effect of that discipline, however, appears to be occasional pricing dislocation. Chichester explained that buyers and sellers sometimes find themselves far apart on values for multi-tenant power centers and older grocery-anchored properties.<\/p>\n<p>CPE\u2019s 2016 forecast issue reflects this variety. In his quarterly column on economic issues, the National Association of Realtors\u2019 George Ratiu makes the case that sound fundamentals and untapped investment potential portend a strong year. In FPL\u2019s annual survey of hiring and compensation, Jeremy Banoff writes that payouts for 2015 are likely to reach record levels. Unlike the past few years, compensation will also vary considerably by property category and geographic market. Elsewhere in the issue, Dees Stribling notes that leading investors are planning robust programs, even as speculation grows that pricing is near its peak.<\/p>\n<p>These apparently contradictory signals might actually add up to a realistic snapshot of the market. Keeping that in mind, CPE will continue exploring the trends, opportunities and challenges that shape strategy. The issues keep evolving, so we\u2019ll apply that time-honored way of decoding them, and ask the right questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paul Rosta, executive editor of CPE, shares his insights on what&#8217;s ahead for 2016.<\/p>\n","protected":false},"author":1165,"featured_media":1004134895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21788],"tags":[],"class_list":["post-1004134889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-editors-notes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Decoding 2016 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/decoding-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Decoding 2016\" \/>\n<meta property=\"og:description\" content=\"Paul Rosta, executive editor of CPE, shares his insights on what&#039;s ahead for 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/decoding-2016\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-01-15T22:30:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T08:45:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/01\/paul-e1460486842891.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"589\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mallory Bulman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/decoding-2016\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/decoding-2016\/\",\"name\":\"Decoding 2016 - 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