It’s the Friday before Mother’s Day and even though you probably aren’t all mothers we got you a little gift. You guessed it! It’s our weekly round up of CRE news articles. This week we found Camden Property trust fleeing Las Vegas, young Bay Area residents fed up with high cost of living, fast-casual restaurants making an impact in real estate, WinnResidential winning a big contract in California, and a lot more. See the 10 CRE news articles below to get a better all around view of the industry:
1.JLL Report Sees Solid Year Ahead for CRE – Despite recent market volatility, JLL’s latest U.S. economic outlook predicts good market fundamentals will allow commercial real estate to hold strong in the coming year. (Commercial Property Executive)
2. Camden Property Trust Flees Vegas with $630M Selloff – Multifamily REIT Camden Property Trust is selling a $630M Vegas portfolio, bidding farewell to the last of its Sin City holdings. (Bisnow)
3. Houston Office Markets Melts Down – Office leasing activity in Houston in the first quarter plunged 25% from the already beaten-down levels a year ago, to 1.56 million square feet (msf), worse even than during the Financial Crisis, according to commercial real estate services firm Savills Studley. (Wolf Street)
4. Boston Announces Plan to Ramp Up Housing Supply – The City of Boston released its quarterly housing report this week, and among other things, it detailed how Boston remains on target to meet its goal of creating 53,000 units of housing by 2030. (Multi-Housing News)
5. Survey says: 34 percent of Bay Area residents are ready to leave – Residents noted that the most serious problems facing the Bay Area included high cost of living, poverty and income inequality, crime rates and homelessness. The biggest concern for the Bay Area is the potential loss of its young labor force, though. (CNBC)
6. How the Fast-Casual Boom Is Changing the Restaurant Real Estate Game – Competition is fierce for restaurant real estate all across the country. But one type of restaurant space has proven particularly elusive: one with a small-ish footprint that’s ideal for fast-casual dining. (Eater)
7. Atlanta, E-commerce and the Hot Industrial Market – Atlanta is a great place to live, work and play. The market is thriving – it’s a great place to be right now, said Chris Riley, vice chairman with CBRE’s Investment Properties Group, based in Atlanta, in remarks to the NAIOP Board of Directors at the National Forums Symposium 2016.
8. Winn Secures Contract for 4,420 Units in California – Boston-based WinnCompanies announced this week that WinnResidential has won a contract to manage 48 California properties totaling 4,420 apartments. The units are owned by Gardena, Calif.–based Highridge Costa Investors (HCI). (Multifamily Executive)
9. Three REITs Find Their Way To Better Capital – An anecdotal tour of US banks’ earnings reports and investor calls for Q1 last week suggested that their appetite for commercial real estate lending remains strong, despite hints of a regulatory crackdown and suggestions that pricing may be peaking. (Globest.com)
10. CITI: The Fed would attempt one last ‘Hail Mary’ before announcing negative rates – But economists who think the US economy is too weak to withstand even one hike this year ought to consider then that the Fed’s next move could actually be a rate cut, according to Steven Englander, Citigroup’s global head of G10 FX strategy.
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