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Do YOU know? What’s the Impact of Nearby Transit on Office and Multifamily Property Values? Being located near public transit can have a substantial impact on the value of office and apartment buildings. Check out this article to learn more... https://lnkd.in/gqp78FDY

Year-over-year, trophy #office buildings in #Manhattan that charge rents in excess of $100 per square foot has increased, and now encompass 80 buildings. Many of the best building owners and managers in the city are actively marketing and leasing these high-end spaces including, SL Green Realty Corp., Vornado Realty Trust, Brookfield Properties, Tishman Speyer, RXR, Rudin, Related Companies, Silverstein Properties, The Durst Organization, Boston Properties (BXP), Empire State Realty Trust, Paramount Group, L&L Holding Company, The Moinian Group, Hines, RFR, and so many more amazing owners, managers, architects, engineers, and consultants with an unwavering commitment to excellence. The growing trend of flight-to-quality combined with a rapidly shrinking development pipeline will produce higher rents with less space available. Tenants are making investments in corporate #culture and #productivity, are paying their rents, and employees are coming to work >> https://lnkd.in/euzzPc4S JLL - Andrew Lim

NAI Charter's Vice President, Frazier DeVaney, published an article in the Southeast Real Estate Business Journal on the current state of the Office Market in Chattanooga. While national headlines may be grim, Chattanooga's office market remains strong. Read the full article here: https://ow.ly/Y2wz50SoChM If your business is looking to relocate or needs up-to-date market information, call us at 423.267.6549! #Chattanooga #OfficeMarket #RealEstate #MarketTrends #NewDevelopments

A great article from NAIOP, the Commercial Real Estate Development Association, highlighting that nearly 2,000 buildings have been transformed into apartments throughout the U.S. during the past 70 years — and 800 in the past decade alone. While there are obstacles to office-to-residential conversions, with the right support and pre-planning future conversions could help address affordable housing needs across the country.

The Wharf's Maine Avenue has ousted downtown's Pennsylvania Avenue as D.C.'s priciest commercial street, per a new study by real estate group JLL. Maine Avenue SW is the country's 10th-most expensive street, clocking in just below Miami's Brickell Avenue, per the report. The Wharf avenue's average asking rent in 2023 was $80.44 per square foot, with its highest hitting $95 per square foot. It had a 2.5% vacancy rate at the end of 2023, compared to Pennsylvania Avenue's 15.3%. Meanwhile, D.C.'s overall office vacancy rate was 21.6% in the first part of 2024. #cre #rent #downtowns https://lnkd.in/egG_CF4i

One of the most prominent office buildings in Baltimore's Inner Harbor will soon be without its anchor. To read the full article, head to:  https://lnkd.in/g7B25bCP For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

Over the past year, South Florida's commercial real estate market has shown resilience despite broader economic challenges. BUT we’re seeing slower rent growth, especially in the industrial sector, where rent hikes have dropped from 10% to 5%. A slowdown in leasing, particularly from big logistics companies, has led to lingering empty space (+/- 700k SF in Fort Lauderdale). This is a positive sign for tenants. Retail is holding steady with low vacancy rates of around 3%. With limited new construction on the horizon, don't expect to see this number expand much. Tough sledding with limited optionality will continue for retail tenants. Offices are 'struggling' with vacancies of over 8% - although this remains well below the US average of 13%. Miami’s still buzzing with new office builds, but with companies downsizing, there’s a lot of uncertainty. Tenants continue to have a wide range of feasible options within both urban and suburban submarkets - adding to the already lengthy decision-making timelines. On the multifamily front, vacancies are creeping up in areas like Palm Beach and Fort Lauderdale. Developers are throwing in big concessions—think two months of free rent—to fill these spots. Rather than taking a hit on rates, Landlords are getting creative with rent abatement and improvements to stay competitive, especially for luxury spaces and older offices. It’s an interesting time for South Florida real estate as the market keeps shifting.

The most expensive street for office real estate in #LosAngeles is Avenue of the Stars on the Westside, according to a new report from JLL. Here's how it ranks nationally. #commercialrealestate

The residential real estate market in Boston's suburbs is only getting hotter with million-dollar homes attracting multiple bids in towns that have experienced unexplained growth over the past two years especially with interest rates so high. However, the scenario starkly contrasts with the challenges faced by commercial real estate in urban centers, where properties are struggling. Is this shift indicative of a return to office, or are more individuals opting for suburban living, driving up residential costs while deflating office values? https://lnkd.in/eAJMc2pT

South Florida has been a thriving market, with Miami leading the way. Despite the challenges faced in the lending market, South Florida has remained resilient, with office spaces thriving and apartment rents steadily rising. The past year has seen numerous projects taking shape, demonstrating the determination and ingenuity of the real estate players in this region. Commercial Observer recently released its annual Power South Florida list, featuring the most influential individuals in the real estate industry. This list includes a diverse group of investors, owners, builders, brokers, developers, architects, legislators, and dealmakers. These individuals have successfully positioned themselves to seize opportunities and have overcome obstacles through their hard work and innovative approaches. One key aspect of South Florida's real estate landscape is the condo development sector. With Miami at the forefront, the skyline is continuously being reshaped with stunning branded towers and boutique beachfront residences. These developments, often featuring luxurious amenities, have become a symbol of Miami's brand, which has gained significant recognition both locally and internationally. Furthermore, Miami's influence has expanded beyond its borders. Iconic New York brands and restaurants are now opening outposts in South Florida, while Miami brands are making a mark in New York and Las Vegas. This exchange of culture and ideas has created a vibrant and dynamic real estate scene. As South Florida continues to grow, it is crucial to make thoughtful policy and planning decisions. These choices will have a profound impact on the region's future, including climate resiliency, affordable housing, and creating a livable and accessible 21st-century region. South Florida's unique natural assets, from the ocean to the Everglades, offer endless possibilities for creating a region that is envied by all. We are excited about the opportunities that West Palm Beach presents, and we believe that our expansion in this area will further strengthen our presence in the South Florida Real Estate market. We look forward to sharing more details with you in the near future.