Deal flow in Australia’s commercial property market fell by 24 per cent year-over-year to $16.4 billion, according to The Australian Financial Review. Third quarter office building investments dropped by 10 percent from a year ago to $7.9 billion and in … Continue reading →
In recent weeks, UK office occupancy rates were around 30 percent, compared with an estimated pre-pandemic average of 80 percent, according to Reuters (citing data from Remit Consulting). In central London, 2.6 million square feet of space was leased in … Continue reading →
According to a survey of major Manhattan office employers conducted by the Partnership for New York City, on an average weekday (as of September 2022), forty-nine percent of Manhattan office workers are in the workplace. Nine percent of Manhattan office … Continue reading →
In Q3–2022, about 1.34 million more square feet of office space was vacant and placed on the market than were leased, according to the National Association of Realtors (“NAR”). In this weakest of all commercial real estate sectors, the vacancy … Continue reading →
The legal industry is returning to the office at higher rates than other businesses, according to research from Kastle. In metropolitan Chicago, legal office usage is at 86 percent of pre-pandemic levels compared with 41.9 percent for all industries. Nationally, … Continue reading →
Adaptive reuse is the process of updating an existing structure and adapting it for a new use. In 2020 and 2021, a total of approximately 32,000 converted apartment units were delivered to market, according RentCafe, with Philadelphia and Washington, DC … Continue reading →
According to a paper by Gupta, Mittal and Van Nieuwerburgh, the pandemic has had large effects on both current and expected future cash flows for office buildings. Revaluing the stock of New York City commercial office buildings and taking into … Continue reading →
Retail, office and industrial sector national asking cap rates fell in the first quarter of 2022 from the previous quarter, according to The Boulder Group. Retail cap rates fell by 13 basis points to 5.75 percent, office cap rates fell … Continue reading →
Office vacancy rates in London have risen from 5.3 percent in March 2020 to nine percent in June 2021, with the vacant spaces mostly in older properties, according to Financial Times (citing Savills). The number of people coming to work … Continue reading →
Single-tenant net lease cap rates registered at historic lows in Q4-2020, according to The Boulder Group. Single-tenant industrial cap rates compressed by 13 basis points to 6.75 percent. Single-tenant retail cap rates compressed by six basis points to 6.00 percent … Continue reading →