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:
Beige Book: ‘Modest’ Economic Growth, Better For Most CRE, By Dees Stribling, Multi-Housing News
Key Excerpt:
“Commercial real estate sales and leasing activity remained stable or improved in almost all districts, the book said. Absorption rate and rent increases were documented in Atlanta and Kansas City, while improving industrial real estate markets were noted in New York, Richmond and Dallas. Office market conditions, however, were mixed among reporting districts.”
U.S. Office Vacancy Rates Decline in Q2, By Michael Gerrity, World Property Journal
Key Excerpt:
“The suburban vacancy rate decreased by 20 bps, to 14.4 percent, while downtown vacancy increased by 10 bps, to 10.5 percent.”
From the Slots to the Stables: Specialty REITs Outperforming, By Susan Persin, Urban Land Institute
Key Excerpt:
“Specialty REITs benefit more from factors that affect specific businesses than from traditional real estate market supply-and-demand fundamentals. The growing economy and population are fueling demand for everything from entertainment to prisons. Within the specialty REIT sector, some businesses are performing better than others, but on the whole, specialty REITs have strong dividend yields, and most have reported robust price appreciation this year.”
3 Creative Ways to Boost Commercial Real Estate ROI, Transwestern
Key Excerpt:
“With Millennials now making up the largest segment of today’s workforce, building owners need to stay abreast of their wants and needs to keep their buildings competitive.”
CMBS Delinquencies Trend Up for Third Month, Impact from Three Large Loan Defaults, By Mark Heschmeyer, CoStar
Key Excerpt:
“The largest new delinquencies were the Skyline Portfolio ($474.6 million), JQH Hotel Portfolio ($203.4 million), and Southern Hills Mall ($101.5 million).”