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Commercial Real Estate Investing

40 Million Americans Receiving Food Stamps

May 10, 2010

Tweet 1 in 8 Americans is now receiving food stamps, a new record. Despite the economy purportedly adding jobs again, it is also adding to the number of people on food stamps. The USDA numbers show that 39.68M Americans were receiving food stamps in February, up 260,000 from January. And the problem is expected to […]

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Mark to Market: Sunnyvale R&D Trades For $40 PSF

May 7, 2010

Tweet Well there you go, $40 psf on a building, and less than $1M/acre for a Sunnyvale R&D project. We’re back to the lows of 2003 as far as land costs go when Gilbane acquired the 12-acre site of Kifer Commerce Park for about $19 psf. The purchase of 645 Almanor by Trumark sets a […]

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What The Market Told Us Today

May 6, 2010

Tweet We were told that a trader put in a “B” (for billion) instead of an “M” (for million). Then we’re told it was tied to the E-Mini futures. Let’s say we’re naive enough to believe the B vs M scenario is accurate. The total market capitalization of the US stock market is probably somewhere […]

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Richard LeFrak on CNBC With a Wait and See Attitude

April 27, 2010

Tweet Richard LeFrak of the LeFrak Organization was on CNBC with Maria to discuss commercial real estate. He continues to be somewhat cautious and is taking a “wait and see” approach, though there is certainly more cautious optimism out of him. Echoing his comments, multifamily continues to be hot with investors scrambling to take a […]

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JLL Squeezes Out a Profit in Q1

April 27, 2010

Tweet Jones Lang LaSalle (JLL: 143.14 -0.12%) posted earnings this afternoon and they managed to squeeze out a small profit in a continuing sign of stability in the brokerage business. The company reported a profit of $200,000, which although paltry, is a vast improvement from the $60M loss they posted a year ago for the […]

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Moody’s CPPI Index Down 2.6%

April 20, 2010

Tweet In our previous post we indicated that risk was back, alluding to our belief that many investors are likely getting ahead of themselves in believing that we’ve seen the worst of it. In a market where the government is willing to artificially provide support to markets at nearly any cost (debt), it ultimately leads […]

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GS Whitehall Funds Down to Last $30M … From $1.8B!

April 16, 2010

Tweet And you thought that Morgan Stanley Real Estate Funds were the only players in town who had an expertise in losing massive amounts of money. The Financial Times is reporting that Whitehall Street International, GS’s international REF has essentially been wiped out. The fund is down to its last $30m, from about $1.8bn, a […]

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Sobrato Nabs McAfee for 240K SF and What It Means For The Market

April 2, 2010

Tweet Sobrato has managed to bag McAfee for ~240K square feet – and potentially more – at its Santa Clara campus. The Registry has some info on the deal as well. The deal is a great one for Sobrato, which has Yahoo! on lease until the end of July. The buildings are located at 2811 […]

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Westbrook Partners Gets a Deal on Four Seasons

March 22, 2010

Tweet Westbrook Partners has moved in to the aid of Millennium Partners, including the San Francisco Four Seasons which was in foreclosure. The deal is seemingly a good one for Westbrook but what this deal signals is that the market was shifting. Banks, which for some time were unfit and/or unsure of what to do […]

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Deloitte’s Theory on CRE: Could Be, May Be, and Expected To

March 22, 2010

Tweet Deloitte is out with a report titled “Perspectives on Real Estate: Uncovering Opportunity in a Distressed Market”. It’s a good read. It pretty much tells you everything we already knew was broken, that we are facing problems with: Declining Real Estate Values Debt Maturity and Credit Access Stalled Construction The rest of the report […]

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