[Article] The firm will cut its office space as it moves from its longtime downtown location. #CRE #office #realestate #downtown #Baltimore
Baltimore Business Journal’s Post
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Curious about the pulse of Los Angeles' office market? Look no further! Bisnow's recent article offers valuable insights into the ever-evolving landscape of commercial real estate in the Los Angeles market, and shares why new leases and return to work pushes are giving office owners renewed hope for LA >> https://ow.ly/izEJ50PzZyc #cre #commercialrealestate #losangeles #la #office
New Leases And Return-To-Work Pushes Give Office Owners Hope For LA Market
bisnow.com
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The Commercial Observer's annual Spring State of Office symposium at the new Penn 2 building by Vornado Realty Trust showcased optimism in New York's office sector. Deputy Mayor Maria Torres-Springer opened the event, highlighting the Adams administration's efforts to enhance the city's real estate environment through the "City of Yes" initiative, which aims to revise outdated zoning laws to encourage diverse urban development and increase affordable housing options. The symposium featured discussions on various facets of the office market, including the recovery and future prospects of office leasing. Notable speakers like Glen Weiss of Vornado and Bruce Mosler of Cushman & Wakefield expressed confidence in the ongoing recovery, citing strong governmental collaboration and strategic economic policies. Despite a current slowdown in new constructions, Weiss argued that this scarcity could balance supply and demand, suggesting cautious optimism about not initiating new projects prematurely. Looking forward, industry experts forecast that the next 18 to 24 months will see a balance in supply and demand due to limited new constructions, potentially leading to a more stable market. The emphasis was also on reimagining core business districts and the importance of sustainability, indicating a proactive approach to adapting the office market to modern needs and challenges. Subsequent panels delved into the capital markets, the impact of commercial mortgage-backed securities, and the challenges and strategies for attracting and retaining tenants in a post-COVID world. Industry leaders discussed the importance of creating a 24/7 livable and workable environment in core business districts, enhancing sustainability, and efficiently using space. The event emphasized New York's resilience and the collective efforts toward reimagining its commercial real estate landscape to accommodate modern demands. #CommercialRealEstate #NewYorkOfficeMarket #RealEstateSymposium #UrbanDevelopment #SustainableCities #OfficeLeasing #NYCRealEstate #FutureOfWorkSpaces #CityofYes
New York City Office Owners and Brokers Tout Recovery
https://commercialobserver.com
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Michael Arnold is a Global Corporate Tenant Rep Commercial Real Estate Advisor providing strategic solutions & best-in-class options reflective of your culture, brand, and vision for your company and firm’s future
My perspective on Tenants ability to maximize their opportunity in today market! #commercialrealestate #losangeles #tenantrep #leasing #stateofthemarket NAI Capital Commercial NAI Global Tenant Consulting Group #Tenants #office
Weak demand for #LosAngeles County office space is boosting tenant leverage at a time when landlords seek to uphold property value. NAI Capital broker Michael Arnold spoke with L.A. Business First on leveraging tenants' upper hand. #commercialrealestate
How L.A. office tenants can leverage high vacancy and weak demand
bizjournals.com
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🌆 2023 Q3 OFFICE & OFFICE CONDO NEWSLETTER 🏢 Despite challenges, the Valley secures its spot as a top-performing market, with a 4.38% increase in average asking rents. 💡 Discover why Phoenix continues to attract businesses...Click below! 🔗 https://loom.ly/iYPmGFs #PhoenixOffice #Q3Newsletter #svndca #commercialrealestate #officecondos #markettrends
3Q2023 Metro Phoenix Office Newsletter | SVN | Desert Commercial Advisors | Phoenix, AZ
https://svndesertcommercial.com
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Did you know that the downtown San Antonio office market is outperforming other major Texas cities, including Austin, Dallas, and Houston? CoStar Group analyst Daniel Khalil pointed out that San Antonio has the highest room for rent growth in its office market, about 3% versus the national average of 0.8%. Check out the San Antonio Business Journal article to learn more. #SABJ #SARealEstate #OfficeMarkets #CommercialRealEstate https://lnkd.in/gQJaR6kS
San Antonio's downtown office market is outperforming every other major Texas city - San Antonio Business Journal
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With Encor place listing for $60 PSF at $21.5MM or 359K SF, it will be interesting if 7-10 years down the road this asset could be seen as a major bargain. Looking at Altus 2024 cost guide, min costs for a Class B Office Tower in Calgary being $235 PSF represents an approximate 75% discount to cost. While WFH has put a dent in RTO, we have a growing population in the city with rough numbers expected conservatively to average 40-50K for the foreseeable future. By 2030, that could potentially increase the city's population by close to 25%. There is not likely to be any new office planned and further office to residential conversion is only going to increase overall office absorption. 2024-2030 will be an interesting time and some of these purchases largely by institutional groups exiting the office sector may be seen as bargains for private families / private equity groups taking a contrarian view.
Cadillac Fairview to sell two downtown Calgary office buildings
renx.ca
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CRE research professional and head of a national commercial real estate research platform for Newmark in Canada providing thought leadership, operational excellence, team building and market insights
Positive momentum from local and out-of-state investors in San Francisco’s office investment market over at least nine months has helped reset pricing and inspired newfound hope in the beleaguered property sector, reported Bisnow. "But a glut of unoccupied office space means the local office market is not quite out of the woods. Transaction activity began to thaw in late 2023 and gained momentum in Q1 2024, JLL wrote in a Q1 San Francisco office market report. Five buildings in Downtown San Francisco are on the market, and two buildings are scheduled to close in the next two months." https://lnkd.in/dewwTGdf #sanfrancisco #office #sales
'A New Era': San Francisco's Office Prices May Have Hit Bottom
bisnow.com
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We Develop / Convert Unused Office Buildings & Parks into Residential, Hotel, and Condos. All with State of art Prefabricated Solutions, Sustainable Materials, and Methods. All to get Heads in Beds Faster.
There's no question that the Marquee "A" Buildings are starting to preform better in the Big Apple. The real question for New York City is what to do with over 110 Million Sq. Ft. of vacant "B & C" office space that will never again be rented as an Office? We have an answer Arthroto Industries Inc. #nyc #newyork #commercialrealestate #commercialbroker #commercialoffice #adaptivereuse #officetoresidential #officeconversions #housing ##realestate
New York City Office Owners and Brokers Tout Recovery
https://commercialobserver.com
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Workplace and Real Estate Solutions | Hybrid & Remote Model Design | Retail & Office Building Adaptive Reuse
Miracle Max beautifully described the difference between "mostly dead" and "all dead." See the short video in the comment box below. Peter Grant at The Wall Street Journal reassures us that the San Francisco office market is not all dead...there are "flickers of life." Company searches for office space in the city are the highest they have been in years. Firms in the growing artificial intelligence industry are leasing and negotiating for legacy office space, signaling that the city’s appeal as a tech hub hasn’t evaporated...yet. To date for 2023, 5 deals for the sale of major office buildings have sold or are awaiting closure this year. But the collapse in building value is stark. 350 California Street sold for $61 Million. In 2019, the transaction value for this building was $305 Million. The highest sale of these 5 buildings was established at more than a 50% discount to pre-pandemic valuation. Rents are showing a corresponding drop in rate. Rents at 350 California have fallen from $90/SF to $50 -$70/SF. These asking rents appear to be very high given the sale price for the building represented an 80% drop in value. So there is clearly room for tenants to negotiate much lower rents Despite the good news in the flickers of life reported, the first half of 2023 reported the largest negative change in occupied office space in the 1st half of each year, 2019 - 2023. Negative absorption for the first half of this year is already at a whopping -4 Million SF. See the chart in the comment box below. Normal cycles of the past will not be replicated this time. Historically, in real estate recessions, demand will slow, even go negative as we see today, but after a period of time, it's back to normal with growth. Don't count on that this cycle.
San Francisco Office Market Shows Signs of Life
wsj.com
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"A recent analysis by commercial real estate data company CompStak found effective rents for New York's "prime" Class A #office space — considered to be new construction, trophy space or a property that was recently renovated — are up from 2019 on the whole but dipped in the past two quarters. Effective rents for that so-called prime Class A office space are up 18.8% from the 2019 quarterly average, compared to 2023 levels." 📊 🗞️ Read more in American City Business Journals' recent article: https://hubs.ly/Q02nh6MS0 #flighttoquality #commercialrealestate #realestatedata #data #realestate #rents #nycoffice
Flight-to-quality trend in office market has its own set of nuances - The Business Journals
bizjournals.com
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