I went out to the Inland Empire this morning to look at a recently developed retail center. The center is market anchored and has built-out shop space and a few national tenants operating on pads. The shop space is approximately 90% vacant. Here is a photo of the interior of one of the shop buildings: [...]
Kevin Kleen has a good post up today about the market stability of college towns. He references an article from The Creative Class which looks at unemployment rates in various cities. I’m going to stop short of saying that the article concludes that college towns are definitively recession-proof but I do believe the data offers [...]
This is an interesting chart. I don’t think it means these other countries don’t have problems but I do think it means our problems are significantly larger than most. The chart could also be used as a springboard for social commentary on the consumerist nature of Americans. (HT – Zero Hedge)
I don’t know what is more brutal, a 44% decline in effective rental rates or the fact that office rates ever reached $70 PSF in the first place. Calculated Risk has the post here which summarizes an article from Rueters. I love the analogy put forth by the guy CR calls Brian in which he [...]
Goldman reported great 2Q numbers this morning with a 65% surge in earnings. A good portion of their profit came from recent underwritings of REIT offerings. On their press call this morning, Goldman disclosed a $700 million loss in commercial mortgage loans and a $500 million loss in RE principal investments – ouch. The piece [...]
Zero Hedge has a post up chronicling a recent trip to Europe taken by Tyler Durden (not his real name) in which he writes about his observations of the “Commercial Real Estate Apocalypse” occurring in Central and Eastern Europe. There are some pictures included which show some nice, albeit totally vacant office properties. Interesting.
It seems to me like we are still in the same market rut we have been in for several months now. Don’t get me wrong, we are still doing deals and moving transactions forward but they are all one-off deals and there is really no uniform theme to any of the deals. When I look [...]
The chart below is interesting to me. It shows the best and worst retail markets in terms of vacancy. The markets with the highest vacancy are no surprise; however, the markets with the lowest vacancy rates show a couple of cities that I would have thought would be in the other column. With all of [...]
This guest post is written by Thomas Galvin of Colliers International. Thomas is a commercial real estate analyst for Colliers International with a regional focus on the Inland Empire. You can learn more at his commercial real estate economic blog www.inlandecon.blogspot.com. The lifeblood of retailers are consumers. The industry adage that “retail follows rooftops” is [...]
An article in the Phoenix Business Journal points to a survey done by Places Magazine which ranks Phoenix as the worst retail market in terms of vacancy rates and speed of deterioration, new inventory in the pipeline, net absorption and preleasing activity. The remainder of the top 5 were Las Vegas, Kansas City, Atlanta and [...]
