REBusinessOnline

Value-Add Opens Doors For Multifamily Buyers

Capital sources of all types see opportunity in the apartment sectors of core Texas markets, which regularly lead the nation in employment and population gains. With so many investors trying to park money in this space, sales prices have risen, cap rates for multifamily properties in major markets have compressed and lenders are competing among themselves to finance acquisitions. When lenders compete, borrowers win. For multifamily lending in sizable markets, value-add borrowers are seeing …

Influx of Supply Begins to Impact Minneapolis Multifamily Market

Like several other markets across the country, the Twin Cities is experiencing the peak of the post-recession construction cycle. However, the traditionally tight multifamily market is in one of the best positions to absorb new units. In fact, Minneapolis-St. Paul has consistently reported one of the lowest vacancy rates in the nation due to a strong economic base and pent up demand for new units. Metro Minneapolis is the second-largest economic center in the Midwest and the local economy …

Labor, Population Growth Drives Las Vegas Multifamily Market

Las Vegas continues to benefit from a strong labor market, which is driving demand and strong fundamentals in the multifamily sector. Employment in Southern Nevada increased by 3.4 percent over the past year, reaching one million workers, while the total population in Southern Nevada increased 2.2 percent, surpassing more than 2.2 million people. With a well-documented shortage in housing, developers added more than 3,200 new apartment units during the year and still saw vacancies decrease 30 …

Texas Summer Heat Is No Match for DFW Multifamily Market

To say the multifamily investment market in Dallas-Fort Worth (DFW) is healthy would be an understatement. With nearly 36,000 units across 183 properties sold in the first half of 2018, according to Real Capital Analytics, a more accurate assessment would be that the sector is — figuratively — on fire. Investor demand for workforce housing remains at an all-time high. With strong economic fundamentals, buyers remain bullish on the DFW multifamily market. Historically low interest rates …

Grocery Stores, Restaurants Dominate Retail Development in Kansas City Market

As most that pay attention to commercial real estate know, the retail real estate market is constantly evolving. That said, with change comes opportunity, and we are both recognizing and capitalizing on that opportunity in the Kansas City market. As has been the case for the last few years, we continue to see a significant amount of “right-sizing” from big box and junior box retailers. Although e-commerce remains a prevalent means of purchasing for consumers, retail closures are not as …

New York City Retail Opportunity Never Better, Nor as Challenging

2018 is a compelling time to be in retail real estate, especially in New York. Sure, rents are probably still too high, but the vacancy rate keeps pressure on landlords and developers. There is no doubt Amazon will continue to disrupt and dominate, but reports of retail’s demise have been greatly exaggerated. The lower rents and vacancies are creating opportunity for retailers who can adapt to the factors driving consumers’ shopping habits. Perhaps more importantly, many of the city’s …

Vegas’ Retail Market Supports Economy Beyond Gaming, Hospitality

There is a lot of buzz in the Las Vegas market a full 10 years after the Great Recession. Much of this buzz surrounds sports with the new Golden Knights hockey team; the Las Vegas Lights professional United Soccer League team; Las Vegas Aces WNBA team; and the NFL Raiders team. The new Raiders stadium is under construction now and is widely considered the most talked-about major development happening in Vegas. In a city that offers unmatched access to world-class gaming, shopping, tradeshows …

Class A Office Buildings in North Texas Evolve With New Tech

Over the last decade, Dallas-Fort Worth (DFW) has been consistently recognized as one of the fastest-growing metropolitan areas in the nation, and there are no immediate signs that the growth is stagnating. Particularly in the last several years, DFW has experienced a wave of corporate relocations and expansions from a wide variety of industries. This activity has brought an assortment of valuable economic opportunities to the metroplex, resulting in a robust construction pipeline. This new …

Economic Incentives Fuel Industrial Development in St. Louis Market

It has been a banner year thus far for the St. Louis industrial market with yet another milestone achieved. Mid-year absorption totaled 2.5 million square feet of space, a number more closely suited for the entire year versus the halfway point. Fueled by continued absorption, the market has more than 5 million square feet of space under construction with vacancy of approximately 4.9 percent. The continued success is no surprise. But economic incentives, often overlooked and underappreciated, …

Office Market Picking Up the Pace in Manhattan

After a sluggish start to the year, the Manhattan office market has experienced a strong rebound. In the second quarter, more than 10 million square feet of space was leased, the highest quarterly total since 2014, pushing year-to-date leasing activity to just over 17 million square feet. At mid-year 2018, there were 17 new leases exceeding 100,000 square feet and 35 new leases of more than 50,000 square feet.  Although the economy has been at a peak for an unusually long time, the …

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