REAL ESTATE

CBRE: Retail real estate shows strongest growth

BY Michael Fickes

Los Angeles — Retail real estate showed the strongest growth in capital values and rents of all property types globally in the third quarter of 2013, according to CBRE Group, Inc.

“Commercial real estate capital values generally rose faster than leasing fundamentals across all property types in Q3 2013, reflecting several capital markets trends that have been prevalent for some time,” said Dr. Raymond Torto, Global Chairman, CBRE Research. “First, returns in commercial real estate have been very strong relative to other major asset classes, attracting institutional capital sources to the sector. Second, the number of assets available for sale remained relatively limited. Finally, commercial real estate fundamentals are expected to improve and catch up with capital markets demand as regional economies continue to recover. This optimism is buttressed by the lack of new construction resulting in a tight leasing availability, especially in mature commercial real estate markets.”

The CBRE Global Retail Capital Value Index showed the strongest growth among property types, rising 2% during the quarter, and by 8% year-over-year. During third quarter 2013, the Global Industrial Capital Value Index rose 1.4%, and the Global Office Capital Value Index rose 1.1%.

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J.Smith says:
Jan-29-2014 06:04 am

Real estate
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J.Smith says:
Jan-29-2014 06:04 am

I must say that overall I am really impressed with this blog.It is easy to see that you are impassioned about your writing.

J.Smith says:
Jan-28-2014 06:33 am

Real Estate
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J.Smith says:
Jan-28-2014 06:33 am

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REAL ESTATE

Texas retail center valuations boom

BY Michael Fickes

Houston — Exceptional job growth, population gains and improved retail fundamentals have significantly elevated the sales prices for shopping centers in Texas over the last year, according to Deal Sikes & Associates, a Houston-based real estate valuation and counseling firm.

Some retail properties have increased in value more than 20 percent in 2013, compared to last year, added Matthew Deal, principal at Deal Sikes & Associates.

“The residential market has improved significantly in recent years and that has increased the demand for shopping center space to serve the growing population,” Deal said. “Construction of new retail space has been very modest over the last three or four years. This imbalance in supply and demand has been pushing up the values of existing retail-oriented real estate.”

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REAL ESTATE

Sarah’s Kitchen inks Midtown Manhattan lease

BY Michael Fickes

New York — Sarah’s Kitchen has signed a lease for a 9,150-sq.-ft. space at 270 Madison Ave., between East 39th and East 40th Streets in Midtown Manhattan. Expected to open in third quarter 2014, the eatery will occupy approximately 6,350 sq. ft. on the ground floor and 2,800 sq. ft. in a mezzanine.

PD Properties represented Sarah’s Kitchen, which is part of the same restaurant group that operates Delmonico’s Gourmet Food Market. Winick Realty Group represented the landlord, ABS Partners in the transaction.

The 5,200-sq.-ft. corner restaurant space in the building, formerly occupied by Salute is now available. A 13,250-sq.-ft. space on the second floor will also become available in first quarter 2014.

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