Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days.
• Reis Reports Strong 2Q15 Growth, but Challenges Are on the Horizon By Les Shaver of Multifamily Executive.
Key Excerpt:
“As vacancy stayed the same, at 4.2 percent over the past six quarters, Reis reported that effective and asking rents each grew 1 percent, rebounding from 0.6 percent in the first quarter. For asking rents, that was a 3.4 percent 12-month change; for effective rents, 3.6 percent. “
• Global Economy’s Grinding Recovery Now Norm, Hooley Says By Doug Alexander of Bloomberg.
Key Excerpt:
“'We are at that point of inflection: the stabilization of developed economies, the improvement of advancing economies,' Hooley said. 'The hope is that those things will come together and that 3.5 percentage global GDP growth rate will be sustainable and improving over time.’"
• Economy Watch: Why Boomers and Millennials Will Have the Greatest Impact on Real Estate By Dees Stribling of Multi-Housing News.
Key Excerpt:
“Two key groups—large numbers of retiring Baby Boomers (born between 1946-1964), and the next mass population wave, the Millennials (born between 1980-2000)—will have the greatest impact on real estate through the lifestyles they choose in coming years, the Counselors assert.”
• Strong Demand Fills Student Housing By Bendix Anderson of National Real Estate Investor.
Key Excerpt:
“The demand for student housing is stronger than the supply on average across the country—and in the strongest markets for student housing, privately-owned housing properties were already full as of May for the academic year that will begin this fall.”
• Retail net-lease cap rates hold as supply jumps 23 percent by Shopping Centers Today.
Key Excerpt:
"An influx of new properties has slowed cap-rate compression in the single-tenant, net-lease property market, according to The Boulder Group’s quarterly survey. National asking cap rates for retail net-lease properties were at 6.4 percent in the second quarter, unchanged from the previous quarter. Meanwhile, the number of retail net-lease properties for sale jumped by 23 percent quarter on quarter, to 3,372."