Real Estate

Retail – Falling Vacancy and Rising Demand = Rent Growth

Employment growth and rising demand coupled with an empty pipeline of new product coming online means rent growth by the end of 2011.  Construction financing is becoming available, but lender standards are still much tougher than before 2008.  We’ll see some new supply coming, but not like 2003-2007 so CoStar expects vacancies to fall as [...]

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US Cities Ranked for Job Growth – 2011

One of the primarily keys to a robust commercial real estate market, beside lenders willing to lend, is job growth.  Everything being equal, a robust employment market will equal a thriving commercial real estate market.  Here are the numbers from January 2010 to January 2011 and segmented by small, medium and large cities.  In the [...]

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Some States Vote to Exclude Foreclosures From Apprasials

Three states, Nevada, Illinois, and Missouri have proposed bills that ban the use of short sales and foreclosures from the use as comps for appraisals for residential lending purposes.   Maryland withdrew their bill.  Proponents say that short sales and foreclosures artificially depress market values over what it otherwise would be.  However opponents say that including [...]

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IRS Audit Statistics – 2010

IRS Audit statistics from the IRS 2010 Data Book.  This should make good bedtime reading to help you sleep better or a good storybook for the kids. http://www.irs.gov/pub/irs-soi/10databk.pdf

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Franklin County Property Tax Appeal Deadline

 Just a reminder for my Columbus, Ohio / Central Ohio / Franklin County readers – your property tax valuation appeals must be filed by today, March 31.  If filing in person it must be done by close of business today or by midnight if filing electronically.  Of course, if you’re reading this we all know [...]

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IRS 1031 Exchange Update from Steve Rosansky

At the link is tax attorney and qualified intermediary Steve Rsansky’s 1031 update.  Steve Rosansky – 1031 Update

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Scarce – Single Tenant Retail

Mark Heschmeyer at CoStar News discusses exactly what I’m running into out there in the recovering commercial real estate market and that is rapidly dwindling supply of something good to sell.  Most of my buyers are located in the Los Angeles area and cap rates in Southern California have always been a couple points lower [...]

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CoStar to Buy Loopnet

This, in my opinion is not good news.  We then will have no national competition for commercial MLSs.  I’m not going to editorialize much here, but I’m not one iota happy to see this happen CoStar News – CoStar and LoopNet To Join Forces

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Distressed Versus Non-Distressed CRE Prices

This is a tale of two very different worlds.  Moody’s Investor Services reports that larger properties in major markets are recovering nicely while distressed properties remain well off of their October 2007 peaks. The Moody’s/REAL Commercial Property Price Index (CPPI), demonstrates a major variance in property values depending on asset quality.  The CPPI shows prices [...]

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Commercial Real Estate – Office Roaring Back in Some Markets

Office transaction volume for 1st quarter 2011 is double last year at a preliminary $12 billion and as more closed transactions are verified it might approach $15 billion for the quarter.   Of this, $2 billion was in New York City and Washington DC.  Average price in these two markets plus San Francisco, Los Angeles and [...]

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Commercial Debt Levels Still Falling

Outstanding commercial debt fell by $12.1 billion in fourth quarter 2010.  It was the fifth consecutive quarterly drop since the recession began, although the decline was less severe than past quarters as lenders get back into the game. blogs.wsj.com – Developments – Commercial Real Estate Debt Levels Fall Again

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Commercial Real Estate Recovering Fast

And now, back to the news:   NAR reports that the commercial real estate market is recovering far faster than many of us thought it would.  I’ve sure seen antidotal evidence of this.   I have many Southern California buyers looking for decent returns by going out of state.  Since they will be hundreds if not thousands [...]

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1031 Exchanges with Related Parties

As the commercial real estate market gets back to whatever normal is you can expect to see the utilization of 1031s to get moving again.  So in Steve Rosansky’s March 2011 newsletter, he goes into detail regarding 1031 exchanges involving related parties. In enacting section 1031, Congress was concerned that a taxpayer with a high basis [...]

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Commercial Real Estate – Inflation Hedge?

With the big spike in oil and food prices in early 2011, its expected that the overall CPI will spike up a bit for 2011 to a level of 2% and maybe slightly higher depending of course on what happens in the Middle East and the resultant affect on oil prices.  I guess this begs [...]

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Investment Grade Properties Hot in 2011

CoStar News reports that Investment grade transactions are up 54% in January over a year ago, but dipping slightly from December.  The increase reflects buyers’ appetite for investment grade office, retail, hotel, and apartment properties.  General grade is down 1% from January last year.  The investment grade increase hit a five year high, which illustrates [...]

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2010 Census – Interactive Map

Here’ s a fun one to play around with a bit.  You can see that growth slowed in the last ten years in most major Metros. USA Today – Population Growth Slows Below is the interactive census map by state.  See how your state, county or city did over the last ten years and then compare that [...]

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Impressive Retail Expansion Plans for 2011

Retail expansion plans for this year are up 40% over last year buoyed by 2010 holiday season’s strong performance.  Nearly every region in the United States is experiencing resurgence with strongest growth in areas with the lowest unemployment. Growth plans are up and interest rates are down plus lenders are competing again.  It sounds like [...]

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Coastal Commercial Markets Overpriced?

Here we go again.  Institutional Investors are moving inland as prices for class A properties in major coastal markets hit precession levels or higher.   Institutions are flush with money and according to a recent survey IREI (institution Real Estate Inc), the largest tax exempt investors are expected to put $30 billion into commercial real estate [...]

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CMBS Market Back in 2011

CMBS activity is way up with $6.5 billion in new securitization coming to market in the last few weeks.  The activity to date in February is 2/3rds of the total CMBS deals offered for all of 2010.  Additionally, Freddie Mac brought two multifamily offerings totaling $1.86 billion to market.  This is reminiscent of 2006 and [...]

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SBA 504 Refinance Program – Commercial Real Estate Loans

Although, I’ve written about this in February, I thought it might be a good time for reminder, that as of April 6th the SBA Small Business Administration will open its 504 refinancing option to businesses with commercial real estate balloon payments due after that date. “With the collapse of the real estate bubble, many small business [...]

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NAR Reports – Cash Deals Boost January Residential sales

Existing home sales were up for the third consecutive month as investor purchases and all cash deals picked up from December, NAR said today. SFRs, Townhomes, condos and co-ops were up 2.7% in December to a seasonally adjusted rate of 5.36 million homes. That’s up 5.3% from a year ago and is the first year [...]

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Scioto Commercial Realty Group, LLC
1225 Dublin Road 
Columbus, OH 43215 

614-388-9667

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