CRE Recovery to Accelerate in 2014 (by JLL)

Commercial Real Estate Recovery to Accelerate in 2014

Hello. I will provide a clean and straightforward summary of the report outlining the 2014 commercial real estate market trends.

The core message of this report is that the commercial real estate recovery is gaining significant momentum. Global investment volumes are expected to show a solid 10 percent growth next year. While the leasing market has been somewhat cautious compared to the investment boom, this imbalance is smoothly narrowing, with the United States market leading the way.

Moving past a stagnant 2013, the leasing market is looking forward to a pleasant growth of 5 to 10 percent in 2014. The flow of the United States office market is exceptionally good. As demand expands beyond the tech and energy sectors into various fields, and new supply continues to shrink, prime downtown areas are creating highly favorable conditions for landlords.

The influence of the Millennial generation is also worth noticing. Their strong preference for urban environments with convenient transportation and abundant entertainment is reshaping the real estate landscape. Naturally, because companies are utilizing office spaces much more efficiently than before, the overall speed of space expansion might feel rather steady and calm.

Nevertheless, office rents are steadily projected to rise by about 5.5 percent. The report summarizes that as job numbers grow and the housing market revives, the commercial real estate market will continue to enjoy a diverse and stable recovery.

Source: http://online.wsj.com/article/PR-CO-20131217-906487.html

This text was thoughtfully prepared with the assistance of artificial intelligence to ensure a refined and accessible reading experience.

안녕하세요. 2014년 상업용 부동산 시장의 흐름을 읽어주는 Jones Lang LaSalle(JLL)의 보고서가 나왔습니다.

이 보고서의 핵심은 상업용 부동산 시장의 회복에 한층 속도가 붙는다는 것입니다. 내년 글로벌 투자 규모가 10퍼센트가량 튼튼하게 성장할 것으로 내다보고 있습니다. 그동안 투자 열기에 비해 임대 시장이 다소 조심스러운 모습을 보였지만 미국 시장을 선두로 이러한 불균형이 매끄럽게 줄어들고 있습니다.

임대 시장의 경우 정체되었던 2013년을 지나 2014년에는 5에서 10퍼센트 수준의 기분 좋은 성장을 맞이할 것으로 기대합니다. 특히 미국 오피스 시장의 흐름이 매우 좋습니다. 기술과 에너지 산업에 국한되었던 수요가 다양한 분야로 넓어지고 신규 공급마저 줄어들면서 주요 도심 지역은 임대인에게 매우 유리한 환경이 만들어지고 있습니다.

밀레니얼 세대의 영향력도 눈여겨볼 만합니다. 교통이 편리하고 즐길 거리가 많은 도심형 환경을 선호하는 이들의 성향이 부동산 시장의 지형을 새롭게 바꾸고 있습니다. 물론 기업들이 사무 공간을 과거보다 훨씬 효율적으로 사용하고 있어 전체적인 임대 면적 증가 속도는 차분하게 느껴질 수 있습니다.

하지만 오피스 임대료는 5점5퍼센트가량 꾸준히 오를 것으로 전망합니다. 전반적으로 일자리가 늘어나고 주택 시장이 살아나면서 상업용 부동산 시장 역시 다양하고 안정적인 회복세를 이어갈 것이라고 보고 있습니다.

원문 출처: http://online.wsj.com/article/PR-CO-20131217-906487.html

이 글은 인공지능(AI)을 활용하여 다듬었습니다.

CIT Survey Finds Middle Market Commercial Real Estate Executives Cautiously Optimistic But Feeling The Strain Of The Taxes And Regulations

http://www.forbes.com/sites/forbespr/2013/12/12/cit-survey-finds-middle-market-commercial-real-estate-executives-cautiously-optimistic-but-feeling-the-strain-of-the-taxes-and-regulations/

12/12/2013 @ 9:11AM
CIT Survey Finds Middle Market Commercial Real Estate Executives Cautiously Optimistic But Feeling The Strain Of The Taxes And Regulations

60% Say Their Go-Forward Orientation Is Opportunistic, With a Mix of Challenges and Opportunities
60% Say the Current Tax and Regulatory Climate Is Placing a Strain on Their Performance
40% Say They Are Negotiating Harder With State and Local Governments to Obtain Tax Credits

NEW YORK – December 12, 2013 – Middle market commercial real estate executives are expressing cautious optimism toward the market and are looking to take advantage of long-term investment opportunities. However, the majority are finding that the current tax and regulatory climate is placing a strain on the performance of their companies. These are some of the findings from a recent survey (cit.com/realestateoutlook) by CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of financing and advisory services to small businesses and middle market companies, and Forbes Insights.

Italy Attracts Real-Estate Investors From Abroad

COMMERCIAL REAL ESTATE
Italy Attracts Real-Estate Investors From Abroad
Confidence in Euro Zone Is Prompting Bets on Weaker Markets

By ALESSIA PIROLO
Oct. 15, 2013 8:26 p.m. ET

Foreign investors are showing a growing appetite for Italian commercial real estate, a sign that the gradual improvement of the European economy is being felt in some of the Continent's weaker property markets.

http://online.wsj.com/news/articles/SB10001424052702304330904579137381040342114

Sneak peek: Yelp's new San Francisco HQ set to open

http://www.bizjournals.com/sanfrancisco/blog/2013/08/sneak-peak-yelp-new-san-francisco-hq.html

Aug 19, 2013, 2:58pm PDT
Sneak peek: Yelp's new San Francisco HQ set to open

J.K. Dineen
Reporter-
San Francisco Business Times

You can say this about the historic Pacific Telephone tower at 140 New Montgomery: they are going to love it on Yelp.

Atlanta's CRE debt woes improving

Jul 23, 2013, 2:22pm EDT
Atlanta's CRE debt woes improving

Douglas Sams
Commercial Real Estate Editor-
Atlanta Business Chronicle

Atlanta’s commercial real estate sector continues digging out of debt, another sign a broad recovery is speeding up.

http://www.bizjournals.com/atlanta/real_talk/2013/07/atlantas-cre-debt-woes-improving.html

$800 Million Loan Sought on Worldwide Plaza

$800 Million Loan Sought on Worldwide Plaza
12/21/2012

The owner of one of New York’s largest office towers is shopping for an $800 million fixed-rate loan.

http://www.cmalert.com/headlines.php?hid=160163

M.D. Anderson snags prime tract in Energy Corridor

Dec 21, 2012, 5:00am CST
M.D. Anderson snags prime tract in Energy Corridor

Shaina Zucker
Reporter-
Houston Business Journal

Alongside the bustling traffic on Interstate 10, an unscathed tract of land in the Energy Corridor has beckoned developers for more than four decades.

http://www.bizjournals.com/houston/print-edition/2012/12/21/md-anderson-snags-prime-tract-in.html

In Race to Recover Peak Commercial Real Estate Values, Boston on Top, Followed by Manhattan

World Property Channel

In Race to Recover Peak Commercial Real Estate Values, Boston on Top, Followed by Manhattan
Posted by Hortense Leon 11/20/12 11:00 AM EST

Commercial real estate prices in Manhattan over the 12 months ending September 30th were up 16.3%, according to Moody's/RCA Commercial Property Price Indices (CPPI). What this means is that New York has joined the exclusive club of major metropolitan areas with the greatest price gains in that period, Boston being the only other market in that category.

A Crucial Leading Indicator Of Commercial Real Estate Hits Its Best Level Since 2007

A Crucial Leading Indicator Of Commercial Real Estate Hits Its Best Level Since 2007
Dec. 19, 2012, 1:07 PM

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment.

From AIA: Architecture Billings Index Signaling Gains for Fourth Straight Month

Billings at architecture firms across the country continue to increase. As a leading economic indicator of construction activity, the Architecture Billings Index (ABI) reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the November ABI score was 53.2, up from the mark of 52.8 in October. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.6, up slightly from the 59.4 mark of the previous month.

Buoyed by the rebounding auto sector, local industry is showing growth

COMMERCIAL REAL ESTATE

Buoyed by the rebounding auto sector, local industry is showing growth
By Norman DeBono, The London Free Press
Friday, December 14, 2012 6:53:11 EST PM

Led by the industrial sector, the commercial real estate market in the London area is showing encouraging signs.

CBD Office Buildings Outperforms Other Commercial Sectors in the U.S.

World Property Channel
EDITION MAIN PAGE | North America Commercial News

CBD Office Buildings Outperforms Other Commercial Sectors in the U.S.
Posted by Hortense Leon 12/13/12 10:40 AM EST

CBD office real estate prices in the US continue to out-shine other core commercial sectors, including suburban office, industrial and retail, according to Moody's/RCA Commercial Property Price Indices (CPPI) report for October, which includes data from August, September and October 2012 (the latest data available for the CPPI). This reflects strong institutional demand even as there was a 1.0% decline in core commercial overall as measured by the CPPI.

U.S. Commercial, Multi-family Mortgage Debt Outstanding Increases for Fourth Consecutive Quarter

World Property Channel

U.S. Commercial, Multi-family Mortgage Debt Outstanding Increases for Fourth Consecutive Quarter
Posted by David Barley 12/11/12 1:10 PM EST

According to the Mortgage Bankers Association (MBA), the level of commercial/multifamily mortgage debt outstanding increased by $6.6 billion, or 0.3 percent, in the third quarter of 2012, as three of the four major investor groups increased their holdings.

U.S. Commercial, Multifamily Mortgage Delinquency Rates Dip in 3Q

World Property Channel

U.S. Commercial, Multifamily Mortgage Delinquency Rates Dip in 3Q
Posted by David Barley 12/07/12 8:00 AM EST

According to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report, delinquency rates decreased for commercial and multifamily mortgage loans in the third quarter.

New $15 Billion Hudson Yards Project Breaks Ground on Manhattan's West Side

World Property Channel

New $15 Billion Hudson Yards Project Breaks Ground on Manhattan's West Side
Posted by Hortense Leon 12/06/12 8:15 AM EST

A city within a city was launched on Tuesday of this week, when ground was broken for the first building in the approximately $15 billion mixed-use Hudson Yards development on the west side of Manhattan.

U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013

World Property Channel

U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
Posted by Hortense Leon 12/05/12 8:18 PM EST

Although the U.S. multi-housing vacancy rate is expected to go up in 2013, it will remain near the historic average.

Many U.S. Office Markets to Improve in 2013, Accelerating in 2014

World Property Channel

Many U.S. Office Markets to Improve in 2013, Accelerating in 2014
Posted by Hortense Leon 11/27/12 8:00 AM EST

The office vacancy rate will continue to decline in 2013 and more so in 2014, according to the CBRE Group. The rate will fall to 14.9% next year and 13.8% in 2014, according to the commercial real estate brokerage firm.

U.S. Commercial Property Sector Enjoying Rising Rents as Vacancies Slowly Decline, Says NAR

U.S. Commercial Property Sector Enjoying Rising Rents as Vacancies Slowly Decline, Says NAR
Posted by Michael Gerrity 11/26/12 11:33 AM EST

According to the National Association of Realtors (NAR) quarterly commercial real estate forecast, most of the major commercial real estate sectors show gradually improving fundamentals and are easily absorbing the relatively small amount of new space that is coming online, with a full recovery already in the multifamily market.

Worldwide Plaza Confirms Recapitalization Plans

Worldwide Plaza Confirms Recapitalization Plans
By Karsten Strauss 11/21/12 1:37pm

Worldwide Plaza will definitely look to recapitalize, following several months of lingering on the auction block. Sellers, George Comfort & Sons and RCG Longview, had purchased the building – located at 825 Eighth Avenue – in 2009 for just under $600 million.

http://commercialobserver.com/2012/11/worldwide-plaza-confirms-refinance-plans/

Worldwide Plaza may be off the block

Worldwide Plaza may be off the block

With bids lagging the $1.5 billion target price, the owners of the 59-story West Side office tower are said to be thinking about holding off and settling for a re-fi now.

BY DANIEL GEIGER
NOVEMBER 19, 2012 1:37 P.M.

The owners of Worldwide Plaza have begun considering a refinancing of their 1.9 million square foot tower, rather than the sale they had been pursuing, several sources say.

http://www.crainsnewyork.com/article/20121119/REAL_ESTATE/121119923

Being Gutsy Is Bringing Some Glory

COMMERCIAL REAL ESTATE
October 9, 2012, 8:12 p.m. ET
Being Gutsy Is Bringing Some Glory
Smaller Firms That Bought Commercial Property During Downturn See Profits

By ELIOT BROWN

The expected sale of a hulking, brick office tower in Midtown Manhattan is on track to net its seller the largest dollar profit to date on any single property that was purchased during the financial downturn.

http://online.wsj.com/article/SB10000872396390443294904578046812154313132.html