New York City Commercial Real Estate Booms : The Real Estate Bloggers

New York City Commercial Real Estate Booms

April 30th, 2006 • Related • Filed Under

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An interesting article from the New York Times about how commercial real estate is taking off in Manhattan and the other boroughs. The demand for real estate is so high as the economy is doing very well and as they say business is good.

In fact, investors who put their money into the companies that broker deals, manage buildings and provide related services have reaped particularly rich returns.
“The real pickup has been on the transaction side — with the commercial real estate brokers,” said William L. Baldwin, a principal at Baldwin Anthony Securities of Dallas, who follows the stocks of companies in the sector.
Shares of the biggest publicly traded commercial real estate services companies, bolstered by robust earnings, outpaced most other stocks in 2005 and are trading near their 52-week highs this year.
Leading the pack is CB Richard Ellis, whose shares are up 167 percent for the 52 weeks that ended on Friday. The stock of Jones Lang LaSalle has soared 131 percent in that period, while Trammell Crow has climbed 82 percent. The stock price of Grubb & Ellis, which struggled in the early part of the decade, has gained 128 percent in the most recent 52 weeks.
By contrast, the Standard & Poor’s 500-stock index has gained 16.8 percent in the last 12 months.  via  New York Times.

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