Medical Office Update: Healthcare Coming Down With Symptoms of Ailing Economy
June 24th, 2009Once considered by some as a recession-resistant office niche, medical office buildings (MOB) are beginning to look increasingly like their non-medical counterparts with declining demand, lack of financing and price impasses between buyers and sellers…
For Those with Money: “You Won’t Find a Better Time to Be a Buyer”
June 24th, 2009Although the future of commercial real estate remains murky, current operating conditions are crystal clear: There is very limited capital, extremely tighter underwriting, shrinking net operating incomes, shrinking space demand and declining property…
CONVENIENCE RULES: 7-Eleven, Others in Convenience Category Proving Resilient Through Recession
June 24th, 2009The convenience store / gas station category have been an unsung hero in the current retail real estate landscape, proving to be more recession-resistant than most other retail property types, even continuing to expand and account for a significant amount…
PwC Survey Sees No Turnaround ’til 2011, Steep Value Declines
June 24th, 2009The majority of the commercial real estate industry is expected to remain in recession through 2011, according to the quarterly findings of PricewaterhouseCoopers’ Korpacz Real Estate Investor Survey. While a recovery is expected to start to materialize…
Foreign Investors See Turnaround a Year from Now, but Activity Will Pick Up This Year
June 24th, 2009Foreign real estate investors say they expect to see a recovery in the U.S. real estate market by the end of the second quarter of 2010, according to the results of a survey by the Association of Foreign Investors in Real Estate (AFIRE).
Respondents…
Bank Watch (June 21-27): Emigrant Bank’s Commercial Book Leads to Downgrade
June 24th, 2009Fitch Ratings downgraded the long-term issuer default ratings of Emigrant Bancorp Inc. to ‘B-’. In addition, Emigrant’s subsidiary Emigrant Bank’s long-term and short-term issuer default ratings were downgraded to ‘B’ and ‘B’, respectively. Fitch also…
Lease Cancellations (June 21-27): GM Cancelling 41 Corporate Leases
June 24th, 2009General Motors has presented its request to cancel 41 leases across the country to the U.S. Bankruptcy Court. Among the leases asked to be cancelled is the automaker’s 120,000-square-foot lease with Boston Properties at 153 E. 53rd St. in New York City…
ASHRAE Unveils Design of New Building Energy Label
June 24th, 2009The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) this week unveiled a flurry of new details about its building energy labeling program, including a prototype label design.
A select group of building stakeholders…
BREAKING NEWS: ASHRAE Unveils Design of New Building Energy Label
June 24th, 2009The American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) this week unveiled a flurry of new details about its building energy labeling program, including a prototype label design.
A select group of building stakeholders…
Cobalt Spends $57M On Pair of Portfolios
June 24th, 2009Cobalt Capital Partners purchased a 1.7 million-square-foot industrial portfolio in Atlanta for $47.8 million. Prudential Insurance Co. of America sold the nine buildings in Shawnee Ridge business park for approximately $28 per square foot. Cobalt, a…
