‘Americas’ Archive

Foreign Investment in San Francisco’s Office Market

I recently spoke on a panel for CREW San Francisco discussing the “New Cash Economy: Foreign Direct Investment in Bay Area Real Estate.” I began with a broad overview of the global investment landscape looking at the increase in investment activity over the last several years with a focus on capital flows today versus the [...]

Houston: More Than Energy

Southeast Texas, specifically the Houston-Baytown-Sugar Land 10-county region, has been one of the most consistently productive and growing metropolitan areas in the country for several years. Since the end of 2011, year-over year (YOY) job growth has remained above 3.0% (often exceeding 4.0%), and ended 2013 with an annual increase of 82,000 jobs. This accounted [...]

U.S. Employment Update: February’s Employment Thaw

Today’s employment report was positive in a number of ways. It indicates that the slower growth experienced in December and January was likely an anomaly caused by the unusually severe weather and not indicative of a slowdown in the general economy. For the real estate sector, this report is particularly encouraging and strongly supportive of [...]

Boston’s Seaport District Rising

Once a predominantly commercial and marine district that fell into a period of steep decline, Boston’s Seaport has, for the past fifteen years, been enjoying a sweeping transformation and resurgence, and today epitomizes the “live, work, play” concept. Crucial to the Seaport’s rebirth was the construction and eventual completion of the Big Dig, a decades-long [...]

Canadian Market Ups & Downs: Expect the Unexpected

Downtown Toronto astonished market watchers around the world when demand spiked in the wake of the devastating 2008 recession. At the time, 4.5 msf of office supply was under development, demand was expected to tank and vacancy was heading for the mid-teens. Instead, absorption reached an average of 330,000 sq. ft. per quarter between late [...]

U.S. Employment Update: January Jumble

U.S. employment growth remained weak in January 2014 as the economy added only 113,000 jobs, the second-smallest increase in the past 18 months. Only December 2013 experienced slower employment growth when just 75,000 jobs were added. This back-to-back weakness follows six months when the average gain was slightly more than 200,000 per month, suggesting that [...]

Transformational Changes Occurring in Lower Manhattan Retail Landscape

Change is constant in New York and retail is no exception.  Perhaps there’s no better example of a changing retail landscape than Lower Manhattan.  Once considered a business address and little else, Lower Manhattan has become a desirable place to live, work and visit.  The residential population has exploded over the last 10 years, tourist [...]

Defining Creative Space

Trying to follow a trend that isn’t clearly defined is challenging. We’ve read about the tech boom for a couple of years now and all the catchy names that have cropped up to delineate tech areas in numerous cities; however, the questions remain: Who is the creative user? What is the creative office? How do [...]

Global Economic Update: Improving Sentiment

As we enter the home stretch for 2013, indicators of business and consumer sentiment reflect growing optimism that 2014 will be a better year than 2013 in every region. In Europe, the transition from recession to recovery continues with mixed results depending on the country. In the Asia/Pacific region both Japan and China continue to [...]

Increased development in the industrial sector – E-commerce is a huge driver for big-box space.

The U.S. industrial market continued to show momentum with strong leasing velocity and absorption, as well as construction levels that have already surpassed last year’s total. The overall vacancy rate fell to 8.2% in the third quarter, 300 bps below its recessionary peak in the first quarter of 2010. The U.S. industrial sector has now [...]