ccim paul johnson erik johnson commercial real estate: Texas office markets struggle in 4Q09
- 02/13/10 04:14 AM
TEXAS' Q4 OFFICE PERFORMANCES VARY SANTA ANA, CA (Grubb & Ellis) - The office markets in Dallas-Fort Worth and Houston struggled in fourth quarter 2009, while Austin and San Antonio showed some positive signs, according to Grubb & Ellis. Dallas-Fort Worth ended 2009 with a total negative absorption of 941,499 sf, 265,402 sf of which was posted in the fourth quarter. Vacancy rose 30 basis points to 22.8 percent in the fourth quarter, its highest level in over four years. Overall asking rents declined $0.20 in the last quarter to $20.68 per sf across all property classes. Houston posted 295,713 sf … (2 comments)
ccim paul johnson erik johnson commercial real estate: Obama takes on banks
- 01/21/10 07:02 AM
Feds want to Control the banks the health care industry the auto industry... what's next? - Erik Stocks tumble as Obama takes on banks By Jamie Chisholm, Global Markets Commentator. Published: January 21 2010 08:24 | Last updated: January 21 2010 17:56 17:35 GMT. Stocks dropped sharply on Thursday as President Barack Obamasaid he intended to prevent deposit-taking banks from undertaking any proprietary trading. The president said he wanted to end the mentality of "too big to fail" in financial markets. "If the banks want a fight, it's a fight I'm willing to have", he added. The FTSE Global Banking index fell 2.3 … (0 comments)
ccim paul johnson erik johnson commercial real estate: Capital Market Recovery Will Take Time, but Could Start in 2010
- 01/21/10 06:05 AM
According to the forecast we should see some deals on CMBS. With the banks cutting loose some of the distressed properties to clean up portfolios means that we should have some bargains for investors with plenty of upside for very good capitalization. - Erik Johnson Capital Market Recovery Will Take Time, but Could Start in 2010 Lenders Should (Finally) Begin Writing Off Their Distressed Assets, Allowing for Deployment of Sidelined Capital The start of 2010 comes with fresh hopes in the realty capital markets, despite the continued impact of persistent recessionary burdens such as weak demand, falling values and constricted lending, … (0 comments)
ccim paul johnson erik johnson commercial real estate: TEXAS CLEAN ENERGY PROJECTS RECEIVE TAX CREDITS
- 01/21/10 02:30 AM
Amarillo and San Angelo combined to receive $6.2M in Recovery Act Tax Credits based on their ability to create more jobs. - Erik TEXAS CLEAN ENERGY PROJECTS RECEIVE TAX CREDITS WASHINGTON (U.S. Department of Energy) - President Obama has awarded $2.3 billion in Recovery Act Advanced Energy Manufacturing Tax Credits for 183 clean energy manufacturing projects across the United States, including eight in Texas. Texas tax credits include: $2.7 million for Alstom Inc. and Subsidiaries' Amarillo wind towers, $495,510 for Cooper Power Systems LLC's Nacogdoches smart grid, $1.4 million for Johnson Plate & Tower Fabrication Inc.'s Canutillo wind towers, $3.5 million for … (0 comments)
ccim paul johnson erik johnson commercial real estate: AUSTIN OFFICE RENTAL RATES MOVE SLIGHTLY
- 01/21/10 01:38 AM
The best and newest retail properties in Abilene are the only commercial real estate offerings that come near the Austin fourth quarter avg rental rates at $25.43 for their office space. Abilene office space for full service facilities top out around $14 annually. - Erik AUSTIN OFFICE RENTAL RATES MOVE SLIGHTLY AUSTIN (Austin Business Journal) - Oxford Commercial Inc. reports that office vacancy increases and price declines in Austin slowed marketwide in fourth quarter 2009. Downtown had a slight rise in rental rates from the third quarter, increasing from $36.35 to $36.72 per sf. South central was the only other area with … (0 comments)
ccim paul johnson erik johnson commercial real estate: Commercial real estate recovery not seen until 2011
- 01/21/10 01:24 AM
Fortunately Texas is not seeing the brunt of the decline. We have managed to stay close to normal. A direct result of not over-inflating pricing and having realistic expectations for resale and investment performace. - Erik Commercial real estate recovery not seen until 2011 By Tom Daykin of the Journal Sentinel Posted: Jan. 4, 2010 Land and Space Journal Sentinel business reporter Tom Daykin blogs about commercial real estate and development The commercial real estate industry, faced with filling empty offices and stores while the nation's unemployment rate hovers above 10%, won't begin its recovery until 2011, according to a forecast released Monday. … (0 comments)
ccim paul johnson erik johnson commercial real estate: BIG BANKS REPAYING TARP FUNDS -- NOT SMALLER BANKS
- 01/21/10 12:53 AM
I have heard similar stories that many banks have already paid back their loans. Many banks may have not needed the bail out money to begin with. I also heard that banks were forced to take the money from the government whether they needed it or not. Control of the banks by the feds may or may not have been a motivating factor. - Erik Just as Bank of America, CitiBank and Wells Fargo get in position to pay back the U.S. Treasury for the investments they received from the Troubled Asset Relief Program (TARP), the Treasury has released a detailed … (0 comments)
ccim paul johnson erik johnson commercial real estate: TRANSWESTERN LANDS LARGEST-EVER MANAGEMENT DEAL
- 12/15/09 06:59 AM
Congratulations to Transwestern on contracting for this tremendous management agreement. - Erik TRANSWESTERN LANDS LARGEST-EVER MANAGEMENT DEAL DALLAS (Dallas Morning News) - Transwestern's Dallas office has acquired one of the largest property management deals on record. Institutional investor RREEF has given operations of almost nine million sf of industrial and office space in North Texas and Oklahoma to Transwestern. The management portfolio includes high-profile projects like the 5950 Sherry Ln. office tower in North Dallas and the 4040 North Central tower near Cityplace. New York-based RREEF previously managed the buildings. … (0 comments)
ccim paul johnson erik johnson commercial real estate: Industrial Recovery Not Expected Till Late 2010
- 12/15/09 06:17 AM
The good news is that the 2Q saw the bottom of absorption and the country is seeing some growth in the existing industrial lease properties. - Erik Johnson Industrial Recovery Not Expected Till Late 2010 New reports from three leading real estate firms agree it will be several more quarters before US markets see a significant increase in demand for industrial property. At the same time, they also generally agree that the worst of the availability increases is over. Both the 2010 National Economic and Property Market Forecast from Jones Lang LaSalle and Third Quarter Global Market Review from CB Richard Ellis … (0 comments)
ccim paul johnson erik johnson commercial real estate: Abilene Industrial Foundation - Commercial Property Snapshot
- 12/15/09 04:42 AM
Thanks to the AIF for helping the local Commercial owners and brokers in marketing our vacancies. You are truly under appreciated for the work you do. - Erik Abilene Industrial Foundation Thank You! The Abilene Industrial Foundation would like to say thank you to all of those who helped in the update of our Commercial Property Snapshot. A new, redesigned version of the snapshot can be found on our website at http://click.icptrack.com/icp/relay.php?r=20993166&msgid=172895&act=E65Q&c=585365&admin=0&destination=http%3A%2F%2Fwww.developabilene.com. This tool is intended to provide a snapshot view of properties available in Abilene for new or expanding businesses to consider. With your involvement, this document can continue to be an … (0 comments)
ccim paul johnson erik johnson commercial real estate: FIVE FACTORS AFFECTING CRE
- 12/15/09 02:52 AM
Fat cash real estate investors may do well if the banks turn out properties with loan defaults in 2010. - Erik FIVE FACTORS AFFECTING CRE NEW YORK (Real Estate Center) - A number of factors could affect commercial real estate transactions going into 2010, Real Estate Center Chief Economist Dr. Mark Dotzour reported after serving on an economic panel at the ninth annual Real Estate Mezzanine Loans and Distressed Debt conference Wednesday in New York City. Among those factors: Banks are hesitant to sell distressed real estate assets. Many loans are going to special servicers and are likely to overwhelm them with volume in 2010. The new … (0 comments)
ccim paul johnson erik johnson commercial real estate: ECONOMY IMPROVING, SURVEY SHOWS
- 12/15/09 02:31 AM
Another positive review for Texas from the national survey in the Beige Book's final look at 2009. - Erik ECONOMY IMPROVING, SURVEY SHOWS HOUSTON (Houston Business Journal) - The Texas economy showed signs of improvement in the past six weeks through November, according to the Federal Reserve Bank of Dallas' Beige Book survey. Industries looking up include high-tech manufacturing, paper, petrochemicals, staffing, housing and energy. New and existing home sales improved over the six-week period, but the level of activity remains weak. The financial services and commercial real estate industries continue to report deteriorating conditions. Overall, prices remained steady during the period and … (0 comments)
ccim paul johnson erik johnson commercial real estate: FED PUTS PRESSURE ON MORTGAGE INDUSTRY
- 12/02/09 02:00 AM
Lack of consumer effort to complete applications for an interest rate reduction is baffling. It should not be a cake walk for participants to be approved for a discount on their mortgages. - Erik FED PUTS PRESSURE ON MORTGAGE INDUSTRY WASHINGTON (Associated Press) - Treasury Department officials yesterday announced plans to increase pressure on the 71 mortgage companies participating in the government's $75 billion loan modification program. They will start this week by sending three-person "SWAT teams" to monitor the eight largest companies' work and requesting twice-daily reports on their progress. Next week, they will publish a list of the mortgage companies that … (1 comments)
ccim paul johnson erik johnson commercial real estate: 7-ELEVEN MAKES DALLAS MORE CONVENIENT
- 12/02/09 01:56 AM
We have seen the changes of the face of convenience stores in Abilene over the past three years. When Alon purchased several hundred Skinny's stores. Most of the stores have changed the signs on the buildings. There is a large 7-Eleven store concept that we may see that does not sell gas. They position them more as a small grocery store for underserved neighborhoods. - Erik 7-ELEVEN MAKES DALLAS MORE CONVENIENT DALLAS (Convenience Store News) - Convenience store retailer 7-Eleven will add over 75 stores to the Metroplex's existing 266 in the next three years. New stores will be concentrated in Dallas, … (0 comments)
ccim paul johnson erik johnson commercial real estate: ORDINANCE COULD CHANGE INSPECTION CODES
- 12/02/09 01:52 AM
The effect on commercial buildings HVAC systems could cause fewer developments on larger construction projects. An additional 25 to 50 cents per sf on a large building could add significantly to the budget. - Erik ORDINANCE COULD CHANGE INSPECTION CODES AUSTIN (Austin Business Journal) - A proposal to adopt the 2009 International Energy Conservation Code and require housing starts to undergo energy inspections has been sent to the city council. The proposed law would mandate testing for every single- or two-family unit by outside contractors. The current rule requires only a sampling of similar new housing by the same builder to … (0 comments)
ccim paul johnson erik johnson commercial real estate: TEXAS' EXISTING HOME SALES CLIMB, PRICES INCH UP
- 12/02/09 12:56 AM
Actual number of homes sold in Abilene in October climbed as the median price dropped slightly. - Erik TEXAS' EXISTING HOME SALES CLIMB, PRICES INCH UP TEXAS (Real Estate Center, Realtor.org) - A total of 19,347 existing single-family homes were sold in Texas last month, a 15 percent increase from October 2008, according to MLS data compiled by the Real Estate Center at Texas A&M University. The median price rose 1 percent to $143,300 during the same period, and the state finished the month with a 6.9-month inventory of existing homes. Here is how select Texas cities fared in October (data current as of Nov. 24, 2009):
… (2 comments)
ccim paul johnson erik johnson commercial real estate: CITY GREEN STANDARDS COULD CHANGE
- 12/01/09 09:51 AM
Check in to LEED Certification if your market is progressive. http://www.usgbc.org/DisplayPage.aspx?CMSPageID=283 - Erik CITY GREEN STANDARDS COULD CHANGE AUSTIN (Austin Business Journal) - In response to developers', city officials' and commission appointees' concerns that the city's energy standards are confusing and that they slow development, Austin Energy is proposing a standardized green building rating system across development types. Currently, different rating systems apply to commercial, residential and multifamily projects. The proposed changes, which are planned to go before the city manager for approval early next year, would implement the same criteria across all sectors that the city council has already adopted … (0 comments)
ccim paul johnson erik johnson commercial real estate: First-time homebuyer tax credit
- 12/01/09 09:43 AM
If you haven't heard it already... CONGRESS APPROVES, EXPANDS TAX CREDIT WASHINGTON (Bloomberg News, Associated Press) - The Senate and the House have approved extending the first-time homebuyer tax credit, settling on an April 30 close date and expanding it to benefit more homebuyers. The plan, which had not been signed by President Obama as of this morning, would allow couples earning up to $225,000 a year and individuals earning up to $125,000 a year to qualify. Current parameters of the credit limit income to $75,000 for individuals and $150,000 for couples. Additionally, buyers who have lived in their homes at least five years would … (0 comments)
ccim paul johnson erik johnson commercial real estate: CCIM what does it mean?
- 12/01/09 09:35 AM
CCIM (Certified Commercial Investment Member) is a professional real estate designation awarded to an individual who has completed extensive educational courses on various real estate topics, fulfilled a production and resume grading procedure, and passed a rigorous comprehensive examination. These individuals are recognized as the best in the business, experts in the disciplines of commercial real estate brokerage, asset management, valuation and investment analysis. There are currently only 8,502 CCIMs internationally and it is considered the "Ph.D." of commercial real estate. go to CCIM.com for more info … (0 comments)
ccim paul johnson erik johnson commercial real estate: CHARTER SCHOOLS: Investment Tool
- 11/24/09 04:14 AM
I recently had a request for a Buyer looking to purchase Charter Schools. Apparently there is a market for the privately owned public schools. Interesting to see how the investment horizon changes from year to year. - Erik Johnson GATES FOUNDATION OPENS DOOR ON CHARTER SCHOOL FINANCING HOUSTON (Austin American-Statesman) - Charter school KIPP Houston has issued $67 million in bonds to finance a new facility - with a little help from Bill and Melinda Gates. The Gates Foundation contributed $10 million to a $20 million bond guaranty that helped the school attain more favorable lending terms. This was the first time … (0 comments)
TEXAS' Q4 OFFICE PERFORMANCES VARY
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