Northeast Feature Archive

Cushman & Wakefield: Manhattan’s Fifth Avenue Remains Most Expensive Street in the World for Retailers

by John Nelson November 29, 2023

NEW YORK CITY — Fifth Avenue in Manhattan has retained its No. 1 ranking as the world’s most expensive retail destination at approximately $2,000 per square foot, which is unchanged from last year. That’s according to the 33rd edition of the Cushman & Wakefield (NYSE: CWK) Main Streets Across the World, an annual report that examines retail rental rates around the world in “high street” locations, referring to bustling, high-end retail districts. Fifth Avenue is world-renowned for its luxury offerings, including Bergdorf Goodman, Prada, Saks and Tiffany, among others. Additions to Fifth Avenue’s retail store count this year include a new store for Harry Winston and newcomers to the corridor Asics, Dyson, Skechers, Johnston & Murphy and Bandier, according to online directory Visit 5th Avenue. While on par with the rents charged last year, Fifth Avenue’s average retail rate is up 14 percent from pre-pandemic levels, making it only one of three high streets in the top 10 that have increased rates since that time span. The No. 2 retail destination in Main Streets Across the World is Milan’s Via Montenapoleone at $1,766 per square foot. The district jumped a spot into second from last year’s report by pushing rental …

November 29, 2023

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Forecast Survey: What’s Your Take on Commercial Real Estate in 2024?

by John Nelson November 14, 2023

The editors of REBusinessOnline.com are conducting a brief online survey to gauge market conditions in 2024, and we welcome your participation. The survey should only take a few minutes to complete. Questions range from property sectors that you are most bullish on heading into 2024 to trends in deal volume to your outlook for interest rates. The results of our 13th annual survey will be compiled and published in the January issues of our regional magazines. Conducting these surveys is part of our mission at France Media to provide readers with indispensable information, and we couldn’t do it without your help. To participate in our broker/agent survey, click here. To participate in our developer/owner/manager survey, click here. To participate in our lender/financial intermediary survey, click here. (Note: Please remember to click on “done” to properly submit the survey.)

November 14, 2023

Features New York Northeast Northeast Feature Archive Office

Hybrid Work is Here to Stay, So What Should Owners Do?

by John Nelson February 15, 2023

By Rod Olivero, senior director at Getzler Henrich It appears that the hybrid workforce is here to stay, leaving the future of traditional office space largely unknown. As return-to-office policies continue to evolve, an increasing number of companies are either embracing, or adjusting to, the reality that accommodating some level of remote workforce is now an inevitability. When workers packed up their laptops and work documents and walked out of their offices in March 2020 in compliance with U.S. stay at home mandates, few employer/tenants, landlords or lenders could have imagined what would ensue. The state of the workforce today isn’t merely a function of employees not wanting to return to an office environment on either a full- or part-time basis. In more cases than one might imagine, companies are coming to realize that they can, in fact, operate effectively and with great efficiency under some level of remote worker scenario. Collectively, these businesses occupy tens of millions of square feet of office space in some of the nation’s most historically valuable urban real estate markets. Regardless of their motivation, as more companies embrace or acquiesce to the reality of remote work, companies have started to shrink their physical footprint …

February 15, 2023

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Forecast Survey: What’s Your Take on Commercial Real Estate in 2023?

by John Nelson November 21, 2022

The editors of REBusinessOnline.com are conducting a brief online survey to gauge market conditions in 2023, and we welcome your participation. The survey should only take a few minutes to complete. Questions range from property sectors that you are most bullish on heading into 2023 to trends in deal volume to your outlook for interest rates. The results of our 12th annual survey will be collated and published in the January issues of our regional magazines. Conducting these surveys is part of our mission at France Media to provide readers with indispensable information, and we couldn’t do it without your help. To participate in our broker/agent survey, click here. To participate in our developer/owner/manager survey, click here. To participate in our lender/financial intermediary survey, click here. (Note: Please remember to click on “done” to properly submit the survey.)

November 21, 2022

Company News Features Heartland Feature Archive Hospitality Industrial Mixed-Use Multifamily Northeast Feature Archive Office Retail Southeast Feature Archive Texas & Oklahoma Feature Archive Western Feature Archive

Forecast Survey: What’s Your Take on Commercial Real Estate in 2022?

by John Nelson November 18, 2021

The editors of REBusinessOnline.com are conducting a brief online survey to gauge market conditions in 2022, and we welcome your participation. The survey should only take a few minutes to complete. Questions range from property sectors that you are most bullish on heading into 2022 to trends in deal volume to your outlook for interest rates. The results of our 11th annual survey will be collated and published in the January issues of our regional magazines. Conducting these surveys is part of our mission at France Media to provide readers with indispensable information, and we couldn’t do it without your help. To participate in our broker/agent survey, click here. To participate in our developer/owner/manager survey, click here. To participate in our lender/financial intermediary survey, click here. (Note: Please remember to click on “done” to properly submit the survey.)

November 18, 2021

Lee & Associates Breaks Down Third-Quarter Economic Outlook by Sector

by Sarah Daniels November 1, 2021

The calculus for which asset classes are likeliest to demonstrate strong growth continues to shift as the pandemic appears to be receding. Patterns in labor shortages, supply chain issues and material costs have managed to solidify through the third quarter of 2021. Lee & Associates’ newly released Q3 2021 North America Market Report dissects third-quarter 2021 industrial, office, retail and multifamily findings, with a focus on where demand is moving and the challenges facing each asset class. Lee & Associates has made the full market report available at this link (with further breakdowns of factors like vacancy rates, market rents, inventory square footage and cap rates by city). Below is a bird’s-eye overview of four commercial real estate asset classes as general categories, broken down to frame each through the trends and complications they faced up to the fourth quarter, according to Lee & Associates’ research. Industrial: Q3 Posts More Record Demand Pandemic-fueled consumer spending drove up third-quarter demand for warehouse and distribution facilities that eclipsed previous records. And despite a nationwide surge in new construction, some metros can barely accommodate the pace of tenant expansion. Additionally, year-over-year rent growth is at a record 6.7 percent for the industrial property sector …

November 1, 2021

Content Partner Features Industrial New York Northeast Northeast Feature Archive Walker & Dunlop

New York Industrial Innovation Spreads Nationwide

by Sarah Daniels November 2, 2020

Despite the negative impact of the pandemic on many areas within commercial real estate, industrial assets continue to attract interest as a favored sector of many lenders and investors. The industrial market is outperforming others throughout this period of disruption. E-commerce growth has resulted in growth in the industrial sector as the need for last-mile delivery and third-party logistics space increases. Similarly, urban infill demand has grown in supply-constrained markets. Finally, the supercharging the industrial sector has created a need for new construction in this asset class, and construction lenders are finding new opportunities to earn higher returns. View higher resolution version of chart above here. Industrial Market Trends In major urban markets — New York City included — residents increasingly expect two-day delivery, next-day delivery and even same-day delivery. As a result of these shrinking delivery windows, the need for local distribution centers and last-mile facilities has increased significantly. The way people purchase and receive products has changed drastically, and the industrial sector must adjust to meet the demand. The nation-wide stay-at-home orders implemented at the outset of the pandemic caused e-commerce to experience exponential growth. People who had never shopped online began adapting to this trend. This created …

November 2, 2020

Content Partner Features Multifamily Northeast Feature Archive Walker & Dunlop

Coronavirus & Capital Markets: Opportunity in the Midst of Caution

by Sarah Daniels August 3, 2020

Lenders and investors may be a little wary when approaching deals under the shadow of COVID-19, but opportunities to employ capital strategically when market prices are low can make for long-term opportunities. Many in commercial real estate hope to lay significant groundwork, strengthening their economic trajectories whenever the market recovery begins. Keith Kurland, senior managing director at Walker & Dunlop, serves as co-head of the company’s New York Capital Markets practice and spoke to REBusinessOnline about the business of sourcing and structuring debt and equity financing in the midst of coronavirus. Kurland joined Walker & Dunlop in January of this year, after the company acquired AKS Capital Partners, which was co-founded by Kurland in 2019. Coronavirus Conditions & the Impact on Lender and Investor Interest “Given our diverse and multi-sector client base, we are still actively financing almost every product type,” Kurland says. “While some sectors and deal types may be more challenging than others due to the impact of COVID-19, we are still tasked with supporting our clients to make sure that they’re either being defensive or offensive, depending upon the lifecycle of the projects that they’re currently invested in. Our team is currently marketing and under application with …

August 3, 2020

Content Partner Features Industrial Lee & Associates Northeast Feature Archive Retail Western Feature Archive

Free Returns: How Reverse Logistics Impacts Industrial Real Estate

by Sarah Daniels April 2, 2020

The industrial sector has been the preferred asset class of commercial real estate in recent years. “The rate of return for industrial real estate has been higher than that of any other class for nearly half a decade,” says Jeff Rinkov, CEO of Lee & Associates. These rates of return are the result of permanent changes in consumer behavior and preferences — and recent events are driving more rapid changes in consumers’ e-commerce shopping. Though it remains to be seen how the economic impact of the coronavirus will influence various sectors of real estate, the pandemic has meant a sudden uptick in reliance upon industrial real estate as consumers turn to online shopping in the face of in-store shortages and shelter-at-home orders or social distancing practices. As brick-and-mortar stores close temporarily, retail companies and logistics professionals grapple with the increased volume of both online orders and e-commerce returns. What do facilities for e-commerce look like as customer expectations for e-commerce grow? How do companies process returns in an efficient and cost-effective manner, a critical element of success for e-commerce companies? Consumers increasingly prefer to shop online instead of going to brick and mortar stores. E-commerce sales accounted for more than …

April 2, 2020

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JLL: Coronavirus Is Impacting Retail Supply Chains

by Sarah Daniels March 12, 2020

With the stock market dropping to lows unprecedented since the Great Recession on Monday and the World Health Organization (WHO) declaring the outbreak of COVID-19 a pandemic, concerns are now rising regarding coronavirus’ long-term impact on domestic investments. But will the disease have any impact on brick-and-mortar retail? According to a research report from JLL, while retail supply chains have already been affected, the health of retail as whole depends heavily on how long the pandemic lasts. Certain sectors have already been impacted, and those in the industry can model their current economic outlook on the course SARS (severe acute respiratory syndrome) took in 2003. However, whether that model will hold as the pandemic evolves remains to be seen. The JLL report explains that the type of short-lived and limited outbreak created by SARS mainly affects the “first and second quarters with many retailers feeling impacts of a disrupted supply chain, but with a subsequent rebound in the following quarters.” Sectors already affected include inventory and complex supply lines. Chinese-manufactured goods may not be able to reach retailers in the coming weeks to months, as the retailers’ existing supply diminishes. Fashion stocks, especially for luxury retailers dependent on Chinese consumers …

March 12, 2020

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