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.

 


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.

Yaskawa drives offer quality performance for air handlers and cooling towers on the roof to secondary chilled water pumps in the basement

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.

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.


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.

Yaskawa drives offer quality performance for air handlers and cooling towers on the roof to secondary chilled water pumps in the basement

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.

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.


 
07/22/2014

How to keep building occupants safe during the hot season.

07/21/2014

Spaces grow denser as the industry emerges from a slump.

07/18/2014

Study ranks states on fuel and consumption.

07/16/2014

Enhance cleaning practices at your educational facilities.

07/11/2014

Tenants have low tolerance for even one pest sighting, a new survey reveals.

07/10/2014

Battery installations will fuel federal research.

07/03/2014

An ongoing pilot program targets carbon neutrality.

06/27/2014

Potential substitute chemicals boast a low global warming potential.

06/26/2014

Tap into the DOE’s new data stream for renewable energy.

06/23/2014

What to do when the rain stops and the flood recedes.

06/18/2014

Mitigation policies grow in response to changing climate.

06/17/2014

The 2014 World Cup welcomes six LEED-certified arenas.

06/11/2014

An updated study now observes local consequences.

06/06/2014

New survey reveals increasing interest in off-site work.

06/04/2014

Gain ground on sustainability goals.

05/30/2014

With World Environment Day quickly approaching, now is the perfect time for cleaning professionals to think about implementing a green cleaning program or review green products currently in use.

05/28/2014

In 2013, approximately 6.5 million people were employed in the renewable energy industry worldwide.

05/27/2014

Saving money through energy management strategies in Canadian healthcare institutions just got easier.

05/22/2014

A recent study has revealed that the bacteria Legionella, commonly found in fresh water, is able to survive in certain automobile windshield washer fluids.

05/21/2014

Industrial symbiosis is essential to a company’s environmental efforts and can even drive profits.

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