Alex Inman

Listed REITs returned +2.1% this week, outperforming the market value weighted S&P by +255bp and the equal weighted S&P by +222bp. The sector has now risen five out of the past 6 weeks. Real estate was the 2nd best of the S&P sectors trailing only energy. Sixteen out of 18 subsectors were positive as cell towers (+4.9%), industrial (+4.4%), healthcare (+3.4%) and shopping centers (+3.4%) led while lodging (-0.7%), apartments (-0.6%), diversified (+0.1%) and specialty (+0.1%) lagged. While YTD returns stand at -4.3%, valuations have risen+6.4% since the YTD trough last month and are nearly 20% above the late October 2023 trough. Here's your pretty picture.

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Interesting #ForeclosureAuction pricing action going on. Wonder if we will see continued downward pressure going into the second part of the year. Here is an interesting question I heard recently: Will home values actually decline or improve with an interest-rate reduction before the end of the year? As more and more homes see price-reductions and more time on the market, will we see an overstaturation of the market? What do you think? Let's talk about it. I'd love to hear a private-investor (boots in the ground) take on the current state-of-affairs. #sharafreport #foreclosureauction #mortgageservicing #specialservicing #privatelending

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Big money is coming back into the CRE space, albeit cautiously. We have seen this in a number of our recent listings, with our 4-property self-storage portfolio generating offers in the very low 5% CAP rate range - with buyers underwriting to low 7% returns in year 2. The de Jong l Becher Self Storage Team has an active pool of listings, connect with the team to discuss this, or to find out what your assets are worth. At this time the inventory of for sale properties is still relatively low and buyers are buying! #selfstorageinvesting #selfstorage #selfstorageindustry #selfstoragefacility #creinvesting

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I had a great conversation with Michael Bull, CCIM about the retail property market last week. Check out the recording here: https://lnkd.in/grHfbEXV #CRE MSCI Real Assets

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Despite high hopes for a rebound, the first quarter of this year saw a continued decline in CRE transaction volume. What's more striking is that this decline is evident even when measured in terms of space, rather than dollars, transacted. Senior CRE Economist @XanderSnyder examines this decline in volume and what may spark a recovery. #cre #realestateinvesting

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At the end of March 2024, we reached an unprecedented milestone with 195.1 million square feet of available sublease space, the highest on record. This represents 0.9% of the total U.S. inventory and 0.6% in sublease vacancy. The trend continued through 2023, particularly impacting large facilities of 300,000 square feet and above. In the first quarter of 2024 alone, there were 127 subleases available in this size category, a notable increase from 107 at the end of 2023. Interestingly, nearly half (49.6%) of these sublessors are general retailer or wholesaler companies. This surge in sublease availability presents both challenges and opportunities in the industrial real estate sector. What are you currently seeing in your markets? 📞 (407) 766-1392 #commercialrealestate #industrialrealestate #cbre #industrialwarehouse #industrialproperty #orlando #florida #industrialbroker #brokerlife #orlando #cretrends #RealEstateTrends #FloridaLeasing #CRE #foryou #explore #realestate #CRE #realestate #supplychain #warehouse #industrial

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NAIOP's CRE Sentiment Index for Spring 2024 suggests conditions for commercial real estate will improve slightly over the next 12 months, the first time the Index has indicated improving conditions since Spring 2022. Respondents' outlook for capital market conditions improved markedly since the Fall 2023 survey, reflecting optimism that interest rates will decline and capital will be more available a year from now. Developers and building owners expect their deal volume will grow over the coming year. #cre #commercialrealestate https://lnkd.in/e9rbCXT

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Great Article by Kim Young, MMLP and MFE Magazine about #proptech trends Fogelman Properties is watching in 2024! Operational Centralization and AI are a few of them. Check out the article! #multifamily #proptechnews

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Interesting tension in the multi-family development space. Given continuously rising housing costs, stalled development due to changing capital cost dynamics seems likely to exacerbate the housing shortage. This should benefit rent growth for incumbents, but at what point do these rates become untenable? #CRE #develoment #multifamily #economy

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GDP, interest rates, #CRE pricing, even foreclosure and default trends, all here in our weekly economic news summary snapshot. What a depressing way to start the week you say?! (It's not by design, I assure you, sorry!). In advance of the Fed OMC meeting this week, this is a great quick brush-up on the economic world that matters for CRE execs.

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What can Brown do for you? Sorry, I couldn’t resist, but if you are in retail or real estate, the answer is A LOT. I’m a 25+ year #cre #research #analyst and #commercialeealestate #economist that has specialized in #retailreakestate for the better part of my career. After a long journey in corporate real estate, I reunited with early friends and mentors at @gallellirealestate where I have been able to rediscover my entrepreneurial roots and launch the most comprehensive retail and reference guide to chains ever created. Something I have long dreamed of sharing with the market . That dream is #thebrownbook If there was ever anything that built my reputation in retail research it was knowing that knowledge of tenant plans and financials and their importance to gauging #shoppingcenter and retail health. As well as informing my team. Hockey great Wayne Gretzky once explained his success, “I go where the puck is going, not where it’s been.” That’s the basis of @TheBrownBook. A tool that helps you go where the puck is going to be and not where it was, in the fastest moving industry of all—retail. Now I am able to share with you all the culmination of my life’s work. All of my data gathering methods, connections, knowledge and endlessly hard work inform the data in #thebrownbook, the ultimate reference guide to retail tenants. An indispensable tool for #landlords, #developers, #investors, #tenants and #retailers (to know what their competition is up to), #facilitesmanagers, #appraisers, #media, anyone that needs solid #businessdevelopment tools that wants to know which #chains are growing, shrinking, new to market (you might not even know), or emerging. And who to call. Please check out samples of what The Brown Book contains. The Brown Book is not a book. It’s actionable knowledge for #businessdevelopment. https://lnkd.in/gTN-9qWT

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The Newmark 1Q24 U.S. Multifamily Market Report indicates that new supply continues to break records and new deliveries are expected to continue to accelerate in the second and third quarters of 2024. Check out the report for more insights and information.

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Really interesting article from Greg Lyon of Nadel Architects regarding office to multi family conversions and potential solutions for vacancy in the urban core. 𝐏𝐚𝐫𝐚𝐥𝐥𝐞𝐥𝐬 𝐭𝐨 𝐨𝐮𝐫 𝐰𝐨𝐫𝐥𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐍𝐖: ·        In downtown Tacoma, three ownership groups have committed to multi family conversions of large-scale office properties. One is successfully completed and stabilized, two are in process and an additional building is on the market with the potential for conversion.   ·        In downtown Seattle, the Queen Anne Plaza building and the former Seattle Post-Intelligencer building have recently traded for residential conversion. We anticipate that we will continue to see Class B and C buildings trade at a low enough basis to justify residential conversions.   ·        Greg mentions that the suburban office market should also be viewed as an opportunity for residential conversion, and we would agree. We currently have a client in the process of converting a suburban office building to residential, and we think this trend will begin to gain momentum.   ·        Another solution for absorbing vacancy in the urban core is catering to the smaller square footage office tenants. The sub 10,000 SF tenants are significantly more active than the larger square footage. We are currently working with ownership groups to multi-tenant floors and deliver spec suites in order to simplify the process for tenants. Drew Frame Kathleen Afichuk https://kmteamframe.com/

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