Posts tagged Commercial Real Estate
The Manhattan office market continued on its road to recovery in Q2 with the overall vacancy rate falling to 12.7%, a slight 10 basis-point decline from the previous quarter, and asking rents rising to $48.64, a 1.9% increase from Q1.
Leasing activity was dominated by financial services and media companies, which accounted for 16 of the 20 largest leases completed during Q2. Two blockbuster deals were completed in the quarter, with Conde Nast signing a lease for 1 million SF to anchor the under-construction 1 World Trade Center, and Nomura moving from Downtown to 900,000 SF at 825 Eighth Avenue in Midtown.
As we round the 3th quarter 0f 2011, we are seeing that lenders are increasingly willing to sell notes/assets to clear up their books. With the real estate recovery under way, more sideline capital are chasing the few opportunities on the market and The increased demand is prompting distressed debt owners to place more of their inventory on the market. More >
Since the beginning of 2011, there has been a torrid level of M&A activity in the commercial real estate services industry. Recently announced deals include CBRE’s acquisition of the ING Real Estate fund management business; the sale of Newmark to financial derivatives house BGC; Colony Capital’s loan and exclusive look period with Grubb & Ellis; the recapitalization of DTZ by investment group SGP and the possible follow on merger with BNP Real Estate; and the hotly rumored takeover of King Sturge by JLL. And that is just on the services side. On the information side, Argus is selling to Altus and Costar is acquiring Loopnet.
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it is expanding its coverage into Mumbai, India with the signing of Sure Shot Suggestions ( India ) Pvt. Ltd. The firm will now operate as NAI Sure Shot Suggestions.
NAI Global, the premier network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced that 84 NAI member firms and 132 NAI agents were named 2010 Power Brokers by CoStar Group, a leading information provider for the commercial real estate industry. NAI received a total of 216 Power Broker Awards across 56 markets for its performance in 2010. Only one other brokerage firm received more awards.