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:
Real Estate Chief: Industrial’s future is rosy, By Jarred Schenke, Bisnow
Key Excerpt:
“’The interest level in U.S. real estate from global investors, both institutional and high net worth, has increased incredibly in the last 10 years,’ Atlanta-based Ackerman & Co. president Kris Miller said. ‘The biggest challenge an investor faces today is finding a deal that makes sense.’”
Apartment building developers face shortage of construction workers, By Bendix Anderson, NREIOnline.com
Key Excerpt:
“‘A very tight construction labor market is going to get even worse,’ says Bill McDonald, president and chief investment officer of Mill Creek Residential, a multifamily developer. ‘It could cause a meaningful ramp up in costs.’”
New U.S. jobs report draws quick response from real estate industry, World Property Journal
Key Excerpt:
“‘The boosts to business and consumer confidence over the past few months is evidently leading to faster hiring. The 235,000 net new job additions in February and 2.3 million over the past year will support home buying even in the face of higher mortgage rates.’”
Banks up pace of construction lending for second consecutive year, raising concerns for regulators, By Mark Heschmeyer, Costar
Key Excerpt:
“The construction and development (C&D) lending category for U.S. banks was once again the most rapidly growing loan category in 2016, following a year of outsized lending growth in 2015. Bank’s C&D lending surged almost 14 percent in 2016, topping 13 percent growth in 2015.”
Deal clears way for developers to begin $80 million Beltline project, By Douglas Sams, Atlanta Business Chronicle
Key Excerpt:
“The sale involved one piece of a larger 4.5-acre site where two historic intown Atlanta neighborhoods, Inman Park and Old Fourth Ward, converge along the Eastside Trail, DeKalb and Edgewood avenues. North American Properties and Vantage Realty Partners assembled the land and will develop the site. Brock Hudgins Architects is designing the project.”