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Commercial Real Estate

Want To Buy The Empire State Building?

This is not something that will only be asked by native New Yorkers to the rubes visiting from out of town. Instead, Empire State Realty Trust, owners of the Empire State Building have announced it will take the company public. Yes, you too can own the most iconic building in Manhattan. Empire State Realty Trust, owners of the iconic Empire State ... Read More »

Borders Bookstore Liquidation Puts More Pressure on Commercial Real Estate Market

The sudden demise of Borders is another hit the commercial real estate market. The market has been buffeted by a huge influx of inventory from 2006 to 2008 followed by the recession that has put many companies out of business. The addition of the 6.3 million square feet of space that Borders will now put on the market is going ... Read More »

Mort Zuckerman says “Home Prices Will Decline For Years”

If you are in commercial and residential real estate, take a look at this CNBC interview with Mort Zuckerman. The editor of US New and World Report and owner of the Daily News and more importantly Boston Properties talks about the demand in residential and commercial real estate. He is pessimistic about the residential real estate market. So much so ... Read More »

E-Verify Coming To a Construction Site Near You

E-Verify, the government program designed to determine if an employee is legally able to work in the United States, is about to be required at all city run job sites in Denver if a bill passes the City Council. I bet it is meeting a great deal of resistance by every construction contractor in Denver. Resistance mixed in with a little ... Read More »

Commercial Real Estate To Stay 40 Percent Off Peak Prices

There is an interesting dynamic happening in commercial real estate these days. We are looking at cheap real estate everywhere we look, yet there is still very little demand for it. The combination of the recession, overbuilding in 2005–2007, and a new paradigm in the work environment will probably not help the matter much. A new report from Pimco says ... Read More »

Simon Property Looking To Buy Bankrupt General Growth

It looks like the commercial real estate market is finding the bottom and starting to consolidate. Simon Property Group has made an offer to absorb General Growth Properties for 10 billion dollars. General Growth is a major mall operator owning such showcase properties as Faneuil Hall in Boston and The South Street Seaport in New York. They got buried under ... Read More »

Commercial Large Project Lending Improves

I found some good news for the commercial real estate market, lending is improving for large projects. The drought in lending in these markets as property valuations plummeted has been disconcerting to say the least, down right terrifying if you are looking to roll over a commercial real estate loan. But as banks start to see the bottom, they are much ... Read More »

Freefall in Commercial Real Estate Slowing, Occupancy Rates at Record Highs

A report from Grubb & Ellis, a leading commercial real estate brokerage and management company, was released to start the new year. The report is a candid appraisal of the commercial real estate market. The news is that 2009 was a brutal year for the commercial market and that 2010 will be a year of slowing down the pain before ... Read More »

Commercial Real Estate At Lowest Level Since 2002

The commercial real estate market has been in free fall the past couple of years. We think that residential real estate took a hit, but the commercial markets are down 44% since the peak in October 2007, a scant 26 months ago. On a good note, declines are expected to slow down in the coming months. But the caveat is ... Read More »

General Electric Expects to Lose 7 Billion in Commercial Real Estate

GE is a bellweather for the commercial real estate market as their vast holdings are fairly well diversified. Unfortunately the picture the company paints is dim. General Electric expects to lose 13 percent more of it’s portfolio in 2010. That is on top of a 34 percent loss since it’s highs of 2007. So if you are looking at commercial ... Read More »