The cost of renting office space in Manhattan set new records in the third quarter amid strong leasing activity that was driven by a job creation rate in New York that exceeds the nationwide average. Leasing activity across Manhattan is 13.8% above the city’s 10-year average, and year-to-date is 11.1% better than 2015, a banner year… Read More »
Thailand’s biggest warehouse developer WHA Corp said on Monday it plans to launch a real estate investment trust (REIT) worth 8.02 billion baht ($230 million) in November with underlying assets in industrial estates of its Hemaraj unit. This will be the first REIT under the Hemaraj brand after WHA, builder of bespoke warehouses for lease, acquired… Read More »
With a view to spread footprints in global market, realty player Godrej Properties (GPL) has opened an international representative office in Singapore. This is the second overseas office of the city-based developer with the first one set up in Dubai two years ago, the company said in a statement issued on Wednesday. GPL has been working with… Read More »
Propstack is delighted to announce that Brandon Sedloff has joined the Board of Advisors this week. Brandon is the Managing Director/ Head of Business Development at Juniper Square, a San Francisco-based technology company that provides fundraising, investor reporting, and investment management software to real estate managers. Brandon has over 15 years of experience in the commercial… Read More »
London, New York and Singapore top preferred investment destinations According to international real estate consultant Cluttons, Gulf Cooperation Council (GCC-based) high net worth individuals are set to continue investing in global real estate for the remainder of the year, with the 63% claiming that they are likely to invest in their most preferred real estate… Read More »
UK commercial property values fell 3 percent in July according to preliminary figures for the closely-watched IPD real estate index, index compiler MSCI said on Friday. Central London values fell by 3.8% on the month, MSCI said on its website. Expectations of a sharper fall in property values led retail investors to flee UK property funds last… Read More »
A jump in Manhattan office leasing activity in July indicates more resilience in New York’s commercial real estate market than recent data has suggested, with asking prices poised to surpass their record high in 2008. Data showing more companies are renewing their leases rather than moving to a new location have been seen as a sign… Read More »
Capital values for offices in the City of London dropped 6.1 percent in July from a month earlier, in the aftermath of Britain’s vote to leave the European Union, a real estate firm said on Monday. Capital values for offices in central London and the rest of the UK dropped by 4.1% and values for all… Read More »
Foreign buyers are helping to drive a jump in sales of top-tier Canadian office buildings, industry players say, with a soft currency and the country’s relative stability helping attract interest from abroad. While the Canadian economy is struggling with the drag from weak oil prices, global events like Britain’s vote to leave the European Union have… Read More »
Office leasing activity in Manhattan remains strong but tell-tale signs – such as rising landlord concessions and companies that renew contracts rather than take new space – indicate a market in correction. The Manhattan office market provides a snapshot into the economic health of New York and offers an indication of future business activity. The commercial real… Read More »
