Friday is finally upon us and that means it’s your time to review the CRE news articles affecting your deals. This week we found apartment vacancies and rents on the rise, the future of industrial design, downtown Detroit in the midst of a resurgence, and a lot more. See the 10 CRE news articles below to get a better all around view of the industry:
Apartment vacancies and rents are on the rise – Demand for apartment units stayed strong in fourth-quarter 2015, but it did not keep pace with supply growth as a number of markets are starting to show the impact of too much development. (Scotsman Guide)
2. Hotel, Motel, Airbnb’s In? – Founder patrons of the event, CBRE Hotels, took the opportunity to gauge the mood of IHIF delegates through a survey that aimed to uncover some of the key trends and issues facing the international hotel sector. (CBRE Capital Watch)
3. The Future of Industrial Design – The surge of e-commerce, a return of some manufacturing to the U.S., and the demand for industrial space in every size, shape and location have yielded some positive changes in the design of the big box. NAIOP chatted with Douglas Petrone, regional strategic accounts manager, Dematic Corp., on what he sees next in industrial design. (NAIOP)
4. REPORT: RAIDERS MOVE TO LAS VEGAS MORE LIKELY – While the team, developers and government officials are actively talking about construction and financing, relocation plans haven’t been finalized. The Southern Nevada Tourism Infrastructure Committee has until July 31 to submit an official recommendation to Nevada Gov. Brian Sandoval. (Bisnow)
5. Downtown Detroit sales prices rise to ‘insane’ levels – The booming market in greater downtown shows that years of efforts at recovery are at least beginning to pay off. And with more improvements coming in the form of the new arena district, the M-1 Rail (Qline) opening next year, and more, prices seem likely to rise even higher. (Detroit Free Press)
6. Why Millennials Like Working In This Office Building – Transit-oriented developments are gaining momentum in today’s commercial real estate market. But Atlanta’s original TOD is still making waves. Peachtree Center hosts a dedicated MARTA rail station, regional bus station and on-site parking. It’s home to office, retail and services. (Globest.com)
7. Former Sony Building to be flipped for a $300M profit – Barely three years since buying Midtown Manhattan’s former Sony Building, wily investor Joseph Chetrit is poised to sell it for at least a $300 million profit, The Post has learned. (New York Post)
8. Here’s Why Investors Are Skittish About the Marriott/Starwood Mashup – The Starwood deal soon will test Marriott’s management skills. Starwood has 1,300 properties, upping Marriott’s size by nearly 30%. And the company will have to not only integrate two global enterprises but also make them leaner. (Fortune)
9. Green Buildings: Good for the Environment, Occupants and the Bottom Line – A recent report from the World Green Building Council tackles that matter head-on, looking at the impact of environmentally friendly construction on user productivity and well-being in the retail sector. But the question isn’t a new one. In fact, says Scot Horst, chief product officer at the U.S. Green Building Council, it has its roots in the very beginnings of the green building movement. (CBRE Blueprint)
10. Take a Ride on the CMBS Rollercoaster – The Commercial Mortgage-Backed Securities (CMBS) market has experienced a series of ups and downs, creating a very uncertain start to 2016. According to Commercial Mortgage Alert, U.S. CMBS issuance has totaled up to $19.0B thru Q1 2016, which is a 30% decrease from issuance volume reported for the same period in 2015. We are seeing signs that Q2 could be a different story. (Metcapital)
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