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MARCH 7, 2020

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Finance & Investment

Coronavirus Caution Slowly Grows in the CRE Market

By Beth Mattson-Teig, Contributing Writer

Fears related to the potential global economic fallout from the coronavirus sparked a meteoric drop in the stock market last week, including a more than 4,000-point plunge in the Dow. Even as jittery global stock markets have worked to claw back from steep losses in trading this week, the question is how much of that contagion will spill over to impact commercial real estate?

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Hotels

How Badly Will Conference Cancellations Batter U.S. Hospitality REITs?

By John Egan, Contributing Writer

As the coronavirus epidemic intensifies, corporate giants including Cargill, Facebook, Google, Indeed, Intel, L’Oreal, Nestlé and Twitter are dialing back employee travel. Globally, cancellations of major tech conferences have reportedly triggered an economic loss of more than $500 million. “Companies are taking a conservative approach to travel, especially non-essential trips, and we’d expect this trend to continue in the near term,” says Michael Bellisario, a senior research analyst at investment bank R.W. Baird & Co. who covers lodging REITs.

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Analysis

Office

Analyzing 2019’s 100 Largest Office Leases

NREI Staff

An exclusive look at CBRE anlaysis of the top 100 office leases signed in 2019 reveals that the tech industry was the most active sector inking deals. According to the firm, tech companies accounted for more than 32.4 percent, by square footage, of the 100 largest leases, which topped the sector's 22 percent share of overall office leasing in 2018.

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Industrial

Last-Mile Industrial Investment Opportunities Expanding to Smaller Markets

By Patricia Kirk, Contributing Writer

Investors are expanding their search for last-mile industrial product to secondary and tertiary markets from their previous focus on established locations near large population centers. “This is creating a ton of opportunities for investors,” says Joseph Yiu, managing partner at ElmTree Funds, which funds industrial projects, noting that last mile industrial sales are growing by 15 percent annually.

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Retail

If a Bank Branch Has to Close, What Are the Most Likely Reuse Scenarios?

By Sebastian Obando, Staff Writer

The typical closed branch encompasses around 8,000 sq. ft. to 14,000 sq. ft. of space, with some branches reaching up to 25,000 sq. ft. or 35,000 sq. ft., says Walter Bialas, vice president of research with real estate services firm JLL. This is where creative reuse of space comes into play.

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Podcast

Finance & Investment

NREI's Common Area: Episode 29

By NREI Staff

David Bodamer sits down with Walker & Dunlop's Adam Schwartz to talk about the recent deal that brought Schwartz and his partners to the firm and the state of the New York market.

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Resource

Property Management

Commercial Real Estate Industry Coronavirus Resource Center

By NREI Staff

A page centralizing commercial real estate association responses, guides and resources in dealing with the ongoing coronavirus outbreak.

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NREI Wire

Co-Work Startup The Wing Saw Its Worth Shrink in WeWork Deal

Bloomberg

The sale implied a valuation for the Wing of about $165 million, a significant discount to its earlier value, according to some of the people familiar with the deal.

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