REBusinessOnline

Seattle’s Industrial Market Pauses During COVID-19

By Jeff Forsberg, Principal, NAI Puget Sound PropertiesIt has been interesting, to say the least, since our governor issued the stay-at-home order on March 23 and we all started contemplating a future where we’d never have to get out of our pajamas.  Though our market’s industrial sector isn’t immune to disruptions, the immediate fallout from the COVID-19 pandemic is not quite as dire as some might have projected.The Seattle industrial market comprises about 223 million square …

Multifamily Trends Remain Positive in Phoenix

By Brian Tranetzki, Principal, Taylor Street AdvisorsMultifamily is staying strong despite COVID-19. That’s because this product type was coming off an extremely hot market at the end of 2019 and early 2020 before the pandemic hit. The Phoenix metro area remains one of the few markets nationally with positive rent growth due to the steady population increase. Now, just months away from 2021, the market is faced with many unknown factors, such as unemployment, election outcomes, continued …

In Search of Relative Value in Orange County’s Apartment Sector

Orange County offers residents all the key elements of the American dream. Its virtues are numerous and faults few. Indeed, Moody’s Analytics ranks the quality of life in the OC 10th highest among the 378 U.S. metros it reports on, just a half-step behind leaders Santa Barbara and Santa Cruz.Orange County is a terrific place to live, but is it a good place to invest? Gauging by observed capitalization rate trends, one may conclude that county apartment properties are highly prized gems. …

Cedar Rapids Shows Resilience, Growth in Times of Crisis

By Scott Olson, Skogman Commercial Since starting a series of annual articles on Cedar Rapids in 2013 after the recovery from the historic floods of 2008 and 2016, I never anticipated the city would be facing an event in 2020 that would reach beyond those levels of flood impact. Now, the COVID-19 pandemic has given our city new challenges for this year and beyond. Hopefully this is a once-in-a-lifetime health event that, unlike the floods, has impacted nearly every city in the country in many …

Is it Time to Start Investing in Richmond’s Office Market? All Signs Point to ‘Yes’

Richmond has been considered a secondary market in the eyes of many national investors, and for good reason. Rental rates don’t compare to Washington D.C., New York City or other major primary markets. But a strong leasing market mixed with a large-scale population shift leads to one question: is now the time to start investing in the Richmond office market?[caption id="attachment_273583" align="alignleft" width="100"] Cameron Maxey, NAI Dominion[/caption]Home to seven Fortune 500 …

Three Key Trends to Monitor in Philadelphia’s Multifamily Market

By Christine Beechan, area vice president, Morgan Properties If there’s one certainty about the unusual year that is 2020, it’s that COVID-19 has significantly impacted every industry across the globe. For apartment owners and operators, we’ve entered uncharted territory in terms of changing renter demands, unconventional leasing methods and new operational procedures. Consequently, it’s especially important right now for apartment professionals to understand the complexities of the …

Texas Multifamily Developers, Architects Improvise

By Taylor Williams The sudden merging of a healthy pipeline of multifamily product in Texas with a global pandemic that has caused a drastic increase in working from home is forcing apartment builders and designers to get exceedingly creative with all facets of their projects. Unit interiors and common areas of apartment buildings must now provide makeshift workspaces for adults across a wide range of industries, as well as for the preexisting members of the gig economy and for children who …

Downtown Sioux City Experiencing Explosive Growth, Transformation

By Marty Dougherty, City of Sioux City Downtown Sioux City, Iowa is currently experiencing growth and transformation on an unprecedented scale. This emerging and vibrant place is not only celebrating its rich and colorful history with multiple historic property renovations, but has made strides to re-invent itself and take the downtown to new levels. These efforts include the growth of new residential options, an increasing number of cultural attractions and quality-of-life amenities, new …

New Jersey Industrial Market Displays Remarkable Resiliency Amid Pandemic

By Mark Russo, director of research, Newmark Knight Frank The industrial markets of Northern and Central New Jersey have held strong thus far in 2020 as heightened e-commerce activity has offset the disruption caused by COVID-19. Total e-commerce sales rose by 31.8 percent in the second quarter relative to that period in 2019, according to data from the U.S. Department of Commerce. While demand for retail and office space has been negatively impacted, steady rent growth and stable vacancy …

Opportunity in the Midwest: Why Indiana Is Gaining Favor with Investors

By Chris Bruzas, Berkadia While the COVID-19 pandemic has had a dramatic impact on the commercial real estate industry, bright spots have emerged across the multifamily landscape. Nationally, secondary and tertiary markets demonstrate resilience and strong performance, despite challenging circumstances. One of these bright spots is Indiana. Since the start of the year, Berkadia’s investment sales and mortgage banking teams have closed more than $498 million in combined sales and financing …

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