NAI Global is one of the leading commercial real estate services providers worldwide. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 325 offices in over 55 countries, and completes over $45 billion in transaction volume in a typical year.
Posts by NAI Global
NAI Global and Deloitte recently partnered on a web conference exploring the impact of the FASB 13 rule changes on the commercial real estate industry. How will corporations adapt and move forward as they are compelled to report all lease transactions on their financial statements? How will that change a broker’s approach to a lease agreement, renewal or extension? All these questions and more were discussed in an hour-long web conference exclusive to NAI Global, presented by Deloitte Financial Advisory Services.
You can tap into the web conference by clicking here.
The First Round of Quantitative Easing, or QE1, instituted by the Federal Reserve, covered a period from January 2009 to March 2010, and involved the purchase of approximately $1.4trillion of mortgage-backed securities (MBS) and Treasuries. This did not include the TARP stimulus package which amounted to another $2 trillion. Theoretically, these stimulus efforts staved off a collapse of the US economy, but this $3.7 trillion rescue package did little to repair the economy. It did have the visible impact of inflating stock prices, and reducing borrowing rates for homeowners and commercial property owners. More >
With a change in Congress taking place in the next few weeks, the “Bush” tax cuts expected to be reconfirmed and the President starting to move to the middle as he plans for re-election, business decision makers will be more optimistic. This is an ideal opportunity for brokers to motivate tenants to make long range commitments before rents start to escalate. More >
Firm Doubles Space at 415 Madison Avenue to House Growing NYC Brokerage, Global Services
NAI Global today announced it has doubled the size of its New York City operations and is expanding its lease at 415 Madison Avenue to accommodate its growing Manhattan base. Upon completion of the buildout, NAI Global New York City will occupy 14,000 square feet, taking over the entire 7th floor.
NAI Global announced today that Arthur Zuckerman has joined its New York City office as Senior Managing Director.
Zuckerman joins NAI Global New York City after nearly 30 years of brokerage with Helmsley-Spear. At NAI, Zuckerman will focus on office, multifamily and hotel brokerage.
Zuckerman managed 1,700 residential apartments and commercial properties for the late Harry Helmsley and Irving Schneider prior to launching his sales career. His first sale of five properties in Lower Manhattan was to the late William Gottlieb. Some of his subsequent sales include the Scott Hotel, Roger Williams Hotel (Leasehold), Blackstone Hotel, Ruxton Hotel, Parc Lincoln Hotel, La Rochelle apartment building, and Commander Hotel, all in New York City.
Zuckerman is a graduate of Upsala College. He is a licensed real estate broker and a member of the Real Estate Board of New York.
NAI Global’s New York City office is located at 415 Madison Avenue.
Two of Germany’s open end funds platforms, Aberdeen’s DEGI Europe and Morgan Stanley’s P2-Value, have decided after a two year closing period that they will close the funds and sell all of their buildings.
Most of the investors that have put money into those funds are institutional investors, large funds of funds, and are now under pressure from their investors to pay the money back. Because most of the money is in real estate assets and there is not that much liquidity left in the funds to repay the investors, management has decided to close the funds, collecting fresh money from new investors or selling some buildings to meet the request from investors who want to get out. More >
Apple has set the groundwork (as usual) with a very interesting and pretty device called the iPad. But beyond reading a book and watching videos, the business community is about to be offered a plethora of finally useful choices in Pad computing. More >
There are many signs and indicators that 2011 is going to be strong and productive for the overall economy in general and the real estate industry in particular. The stock prices of some of the larger REITs and brokerage companies such as Vornado, SL Green, JLL and CBRE have all risen considerably in the past few months. With the expected changes in Congress there will be a psychological lift throughout the business community that will encourage corporate executives to hire and expand. The recession and low interest rates have resulted in companies having more cash in reserve and higher profits due to reduced payrolls. More >
As the economy strengthens and vacancies begin to decline, landlords and owners will begin to try to recover some of the rental rate ground they lost during the recession. The recovery does not appear to be swift, but landlords will need some relief going forward or they will not be able to maintain the properties to the prior standard. More >
A front page article in the Wall Street Journal on October 5 was titled “Signs of Recovery for Office Market.” However, the truth can be found in the details, some of which are also disclosed in the same article. The national vacancy rate for office as of September 2010 inched up to 17.5%, the highest rate in 17 years, but still below the 1992 record of 18.7%. The reasons for office markets continuing to weaken are many: In the last few years many businesses that held on to excess vacancy because they couldn’t sublet a portion of their space or expected they would begin hiring by this point are now realizing they may not increase staff for some time; and many firms are figuring out how to squeeze more workers into less space. More >