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Apartment rents have risen steadily across the country and while most people know that the cities with the most expensive rents include markets in the Bay Area and New York City, those markets did not see the largest growth on a percentage basis in the past decade.
That's according to a recent analysis by PropertyClub, an apartment rental listing service.
Using data from Zillow, PropertyClub measured the 100 most populated cities in the U.S. and found the greatest percentage difference in median rents from 2010 to 2019.
The overall blow from COVID-19 has proven to be too much for many companies. Scores of firms have filed for Chapter 11 restructuring. Some have managed to successfully restructure and emerge from bankruptcy protection. Others have been forced to liquidate entirely.
The 20 largest bankruptcies all include liabilities of more than $1 billion, topped by The Hertz. Corp. with more than $24 billion in liabilities at the time of its filing.
While some retailers are closing thousands of physical stores and cancelling expansion plans due to sharp increases in online shopping and widespread shutdowns to curb the spread of the coronavirus, other brands are still growing their bricks-and-mortar footprints.
In fact, some are planning to add dozens and even hundreds of stores in 2020 and beyond.
“There are definitely tenants on my radar who are actively expanding despite current market conditions,” says Lanie Beck, director of corporate research at Stan Johnson Co., which specializes in net lease investments.
Millennials are the largest living generation in size and are increasingly taking up a greater share of the U.S. workforce. For this reason, commercial real estate professionals are keeping close tabs on where millennials prefer to live, especially as a large portion of them continues to rent rather than own their homes. Last year, 18.4 million of the estimated 45.9 million households that rent apartments identified as millennials, according to the Pew Research Center.
The following report by RENTCafé identifies the cities where millennials are currently moving to, ranking them by the highest share of millennials who applied for apartment rentals.
Around 2,000 old buildings in the U.S. have been converted into apartments over the past 70 years, with 778 of those conversions taking place in the last decade, according to a new report from RENTCafé. That figure represents an all-time high for multifamily conversions. In the 2010s, offices became the most common building type to be turned into apartment rentals, with factory conversions dominating the 2000s while hotel to multifamily adaptive reuse projects were the most popular from the 1950s through the 1990s. The highest number of multifamily conversions occurred in 2017, when builders redeveloped 119 buildings originally designed for other uses into apartments. In total, there are now more than 240,000 apartment rentals in large converted buildings in the U.S., according to the report.
We look at the top 10 apartment conversion types in the U.S., according to RENTCafe.
If you are looking to beef up your knowledge of commercial real estate over the holiday break or for a gift for someone who’s interested in learning more about the industry, there is no shortage of books on the topic. And there’s more variety among them than you might think—some are pure advice books, others are biographies and autobiographies of the industry’s luminaries and some read like straight-out real life thrillers.
Here, in no particular order, are 17 of the most prominent books about the science and art of commercial real estate and what it takes to succeed in this business.
New data, new technology and new property types are all changing the game for the experts who estimate the value of real estate properties.
CBRE has identified 10 innovations and disruptions that will impact property valuation around the world in the coming years. CBRE has released these insights in its new report, “Building a Smart Future: Identifying, Understanding and Leveraging Property Valuation Disruptors.”
The pandemic has disrupted a number of high-profile real estate deals, including stand-alone building sales, portfolio transactions and entity-level equity infusions. Some had fallen apart because the buyer couldn’t secure financing in a market that had become less liquid. In others, the acquisition just no longer made sense, given the economic outlook. A number of these disrupted deals have even led to legal disputes, with the seller insisting the buyer uphold its end of the contract.
In March, 1.1 percent of real estate investment sales under contract had fallen through, according to New York City-based research firm Real Capital Analytics (RCA). From 2016 through 2019, the average for such transactions was 0.4 percent.
For landlords eager to see their restaurant tenants succeed and once again drive shopper traffic to their centers, helping restaurant operators navigate reopening can be critical. So, in addition to some solutions we covered in a previous article, NREI asked readers for recommendations on how landlords can help restaurant tenants shore up their bottom lines.
Cancelled ocean vessel routes became a frequent phenomenon early this year as consumer demand for many discretionary products dropped off during the COVID-19 pandemic, according to the recent U.S. Seaports Outlook Report from Colliers International. At a result, the volume of twenty-four equivalent units (TEUs) handled by U.S. ports in 2020 has declined. But Colliers researchers expect the impact from the pandemic and widespread lockdowns to level off as the manufacturing sector in China continues to return to normal operations and shutdown limitations ease in the United States.
Here is the list of the nine busiest U.S. seaports that Colliers ranked by most TEUs loaded inbound and TEUs loaded outbound January through April.
