NAI Global Arranges 5 Year Lease of Manufacturing Facility at Keystone Industrial Port Complex
Jul 12th
CSC Sugar to Use Facility to Refine and Produce Liquid Sugar for Food Industry
CSC Sugar has leased the Bar Mill building in the Keystone Industrial Port Complex (KIPC) in Fairless Hills, Pennsylvania. CSC Sugar will use the industrial property to import raw sugar in bulk via ship and rail, and refine the sugar into a liquid product called Sugaright that will be provided to food manufacturers as an additive in beverages, gums, candies and other foodstuffs. More >
FDI in Latin America on the Rebound
Jul 9th
According to news from the UN Economic Commission on Latin America and the Caribbean, FDI is roaring back into the region after last year having dropped by 42% (US$76.7 billion) over the previous year (US$131.9 billion). Investors are confident that the region is indeed healthy and rebounding where it needs to. The commission foresees an increase in FDI of between 40-50% and should surpass US$100 billion. This would be at least a 20% increase over the region’s FDI in 2009, but still below the US$131.9 billion record achieved in 2008. Although the Commission attributes the increased FDI to improved monetary policies that boost domestic demand and higher commodity prices, I attribute it also to the political and economic stability and their institutionalisation within most countries in the region, the diversification of industry within the region’s larger and some medium–sized economies (e.g. Brazil, Mexico, Chile, Colombia, Argentina, Costa Rica) and slightly improved fiscal and investment policies. If truth be told, most of the companies now increasing or beginning their investment in the region had their sights set on it even during the deepest point of the economic crisis. They could not tactically or financially divert investment funds to Latin America. More >
Restructuring Process Slows as More Distressed Properties Enter Special Servicing
Jul 8th
Lenders and servicers continue to be inundated with properties entering special servicing, expanding from multi-family housing to office, retail and other commercial assets. As we originally anticipated, 2012 will be the major year for defaults in commercial properties, especially office properties throughout the United States. Momentum has slowed as servicers are bogged with the influx of properties. More >
Robust Recovery in 2010 Will Just Return U.S. to Middling Economy, Says NAI Global Chief Economist Dr. Peter Linneman
Jul 8th
Strong, steady economic growth over the next two years will just return the U.S. economy to a pre-2008 level, giving us back what we needlessly lost due to government-induced panic and poor lending practices, according to a new white paper from NAI Global Chief Economist Dr. Peter Linneman. The white paper examines the overall outlook for the job market and provides a forecast for the next three years. More >
Manhattan Sees Decline in Vacancy Rates
Jul 7th
For the first time in more than two years, office vacancy rates in Manhattan are on the decline. Vacancy rates dropped from 11.6% in the first quarter to just 10.8% at the end of the second quarter as nearly 7 million square feet of space was leased across the market.
There are still millions of square feet available, and buyers/tenants currently have the upper hand in sale/lease negotiations. With an uncertain economic recovery ahead, it is unknown if this drop in vacancy rates signals the start of the end of a difficult market, or if a double-dip recession will further delay a recovery market-wide.
