NNN Lease market news
U.S. commercial property prices increased in May for the first time in six months as a rebound in distressed real estate helped boost values, according to Moody’s Investors Service.
The Moody’s/REAL Commercial Property Price Index rose 6.3 percent from April, the largest gain since the measure began in 2000. It’s down 11 percent from a year earlier and 46 percent below the peak of October 2007, the company said today.
“A number of transactions that were recorded in May had their most recent prior sales in 2009 as the market was beginning to bottom and subsequently traded for substantial returns,” Tad Philipp, director of commercial real estate research at Moody’s, said in a separate statement. “We are likely to see a pickup in post-peak repeat sales and expect such transactions to play an important role in helping drive the CPPI higher.”
http://www.bloomberg.com/news
Wednesday, July 20, 2011
Tech Meets the Tenderloin
NNN Lease Market News
The growth in technology businesses that has boosted the San Francisco office market has spilled over into a blighted six-block stretch of Market Street that until now has missed out on most booms in the city's commercial-property valuations.
The "midmarket" office corridor on the southern edge of the Tenderloin district got its first boost in April when Twitter Inc. announced plans to relocate its headquarters to the gritty area better known for empty storefronts and government workers than Internet buzz.
http://online.wsj.com/article
Tuesday, July 19, 2011
U.S. Retailers Shop for Space in Europe
NNN Lease Market News
U.S. retailers expanding abroad include some of the biggest names in the business. Banana Republic, for example, is expected to open its first French store this year. In 2010, Apple opened its largest flagship store in the world in London's Covent Garden. Fashion retailers Tommy Hilfiger and Michael Kors have built flagship stores in Paris.
The outlook is better in some countries than others. According to CBRE, the development pipeline is still "considerably smaller" than in 2007 and 2008 —the most recent peak in shopping-center development. But construction starts are rising in markets such as Turkey, Russia, and Poland. There are 146 shopping centers under construction in Europe today, says CBRE, and the highest level of activity is in Europe's emerging markets.
"The shopping center development market in Turkey has sprung back to life," Neville Moss, CBRE's head of retail research in Europe, the Middle East and Africa, said in a statement.
Another thing in Europe's favor is that American retailers are finding it easier to experiment and try new strategies in new markets than to revamp worn models at home.
U.S. retailers expanding abroad include some of the biggest names in the business. Banana Republic, for example, is expected to open its first French store this year. In 2010, Apple opened its largest flagship store in the world in London's Covent Garden. Fashion retailers Tommy Hilfiger and Michael Kors have built flagship stores in Paris.
The outlook is better in some countries than others. According to CBRE, the development pipeline is still "considerably smaller" than in 2007 and 2008 —the most recent peak in shopping-center development. But construction starts are rising in markets such as Turkey, Russia, and Poland. There are 146 shopping centers under construction in Europe today, says CBRE, and the highest level of activity is in Europe's emerging markets.
"The shopping center development market in Turkey has sprung back to life," Neville Moss, CBRE's head of retail research in Europe, the Middle East and Africa, said in a statement.
Another thing in Europe's favor is that American retailers are finding it easier to experiment and try new strategies in new markets than to revamp worn models at home.
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