Industry News




07/08/2010

Are Office Fundamentals Turning Upward?

Rents show signs of bottoming out, and select high-quality assets have opportunities to pursue

 
Are Office Fundamentals Turning Upward?

Kurt Padavano, COO, Advance Realty Group (left) and Henry Chamberlain, President and COO of BOMA International, deliver the “State of the Industry,” a mid-year market outlook at the BOMA 2010 International Conference & The Every Building Show.

Commercial construction continues to slacken in 2010, yet stabilization is taking hold in the office market, according to presenters in a mid-year outlook at the BOMA 2010 International Conference & The Every Building Show, which took place in Long Beach, CA, at the end of June.

The presenters – Henry Chamberlain, President and COO of BOMA International, Washington, DC, and Kurt Padavano, COO, Advance Realty Group, Bedminster, NJ – noted that April’s year-over-year commercial construction value was down 36.8 percent, and office construction was down 29.4 percent. However, office vacancy has swelled only marginally so far this year, from 17.4 to 17.8 percent. San Antonio and San Jose have reported declines in office vacancy this year. Moreover, the NCREIF Property Index turned positive during the first quarter at 0.76 percent.

Other signs of improving market fundamentals include an increase of 3 points to 76 in the Real Estate Roundtable’s overall sentiment index during the second quarter. Padavano and Chamberlain also noted that property pricing is stabilizing and capital markets are showing some signs of thawing.  

For the near term, Chamberlain and Padavano see several opportunities for high-quality office assets in this market, including sustainable, energy-efficient product as well as transit-oriented development.

 

Xcel Energy’s Data Center Efficiency program can help data centers and large-scale IT operations improve reliability and energy efficiency.


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.

When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality. 

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.

Xcel Energy’s Data Center Efficiency program can help data centers and large-scale IT operations improve reliability and energy efficiency.


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.

When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality. 

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


 
comments powered by Disqus
08/28/2015

Temperatures reach highest point since 1880.

08/27/2015

Large improvements drive water conservation on West Coast.

08/26/2015

Data breaches becoming more common.

08/25/2015

Research shows link between extreme weather events and long power disruptions.

08/24/2015

Specifications to improve wall resiliency.

08/21/2015

New resource can help FMs create scope of custodial work.

08/20/2015

Rule created to stem Legionnaires’ disease outbreak.

08/19/2015

Portable devices encourage sedentary workers to exercise while seated.

08/18/2015

PACE program to drive building improvements.

08/17/2015

Survey shows management systems can streamline work order process.

08/14/2015

Tool will help schools improve air quality.

08/13/2015

Proposed ASHRAE rule to improve communication about energy consumption, forecasts.

08/12/2015

Installations rise as electricity costs drop to an all-time low.

08/11/2015

Linear, low-bay/high-bay LEDs spotlighted as best choices for commercial retrofits.

08/10/2015

Wind, solar set for big increases.

08/07/2015

New requirement will cut food waste.

08/06/2015

ICC, ASHRAE will streamline compliance path for IgCC and Standard 189.1.

08/05/2015

Benefits inspire positive health changes for workers.

08/04/2015

New program from the EPA will cut GHG emissions.

08/03/2015

LED, smart control adoption will help FMs meet energy goals.

Page 1 of 56
FirstPrevious[1]2345678910NextLast

Sponsored Links