Slowing economic growth, trade wars and a pipeline that is delivering new supply to the market may force investors to adjust return expectations for industrial properties, but it doesn’t appear to be putting much of a dent in buyer demand.
Developers are planning their biggest year yet for 2019, on track to open 13,000 new apartments in the Seattle metropolitan area, according to CoStar (not including communities built for seniors, students or low-income renters). That’s more than the 10,880 new apartments they opened in 2018. It even breaks the record of the peak year in 2015, when 11,010 new units hit the market. Even Seattle’s strong economy will need time to absorb all of the apartments planned for 2019, according to CoStar.
The New York Times looks at the health and wellness boom in malls. WeWork’s billions in lease obligations worries potential investors ahead of its IPO, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
