NEWS
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November 2011
Nimblebit, LLC has leased 735 square feet of Office space  [more]
Gregory W. Staffon, DDS, A Dental Corporation has Leased 2,156 sf of Office  [more]
Warehouse Solutions, Inc. has subleased 54,100 square feet of Land.  [more]
October 2011
Cap rates fell in first half of 2011, report says  [more]
Masanobu Takada leased 1,256 sf of Retail space  [more]
Daniel and Candarlaria Klein has leased 2,615 sf of Industrial space  [more]
September 2011
U.S. in Strong Global Position, Economist Tells Conference  [more]
August 2011
Payless, Stride Rite stores to shutter  [more]
Pacific Sunwear trades stock for rent relief  [more]
Commercial Building on Friars Road sold  [more]
Lourdes Mexican Food, Inc. (dba Lourdes Mexican Food) has leased 1,250 sf of Retail space  [more]
July 2011
Global Polishing Solutions, LLC has leased 1,500 sf of Office space  [more]
Farley Holdings, LLC has leased 1,063 rsf of Office space  [more]
June 2011
Neal Electric Corporation has leased 140,700 sf of Land  [more]
JB & More, Inc. has leased 625 sf of Retail space  [more]
Klassic Kleaners has leased 1,860 sf of Retail space  [more]
Jack Montogomery has leased 3,980 sf of Industrial space  [more]
Industrial building on Danielson Street sold  [more]
May 2011
Carl Karcher, Inc. has Leased 4,004 sf of Retail space  [more]
Multi-Family Apartment on 1510 38th Street sold  [more]
Multi-Family Apartment on 1520 38th Street sold  [more]
Multi-Family Apartment on 1530 38th Street sold  [more]
Multifamily Investment, Leasing Fundamentals Off to Solid Start In 2011  [more]
Metro Furniture has leased 7,080 sf of Retail space  [more]
April 2011
Multi-family Apartment on 1540 38th Street sold  [more]
Jack-In-The-Box restaurant site in San Antonio, Texas sold  [more]
Evans Mobile Veterinary Care, Inc. has leased 2,225 sf of Retail space  [more]
March 2011
SAMCO has leased 5,400 sf of Retail space  [more]
Scott Bourke has leased 930 sf of Retail space  [more]
February 2011
Shopping center development hit 40-year low in 2010  [more]
US commercial property prices may be outrunning rents
January 2011
Multi-Family four-unit on 1404 38th Street sold  [more]
CRE Sales Deal Volume Returning to 'Normal' Levels  [more]
Victory Cultural Dissemination, LLC has leased 3,740 sf of Office space  [more]
Jersey Mike's Subs has leased 2,210 sf of Retail space  [more]
December 2010
Nabors Express Corporation has leased 4,875 sf of Retail space  [more]
UpWind Solutions, Inc., has leased 10,075 sf of Industrial space  [more]
Ecademy California Charter School has leased 460 sf of Office space  [more]
October 2010
Global Polishing Solution, LLC has leased 10,000 square feet of Industrial space  [more]
Dave's Wholesale has leased 6,000 square feet of Industrial space  [more]
Tierra Mesa Veterinary Clinic has leased 1,860 square feet of Retail space   [more]
Restaurant site on Rancho Penasquitos sold  [more]
September 2010
Edward D. Jones & Co. has leased 1,029 square feet of Retail Space.  [more]
August 2010
Giovanni's Restaurant has leased 5,580 sf of Retail space  [more]
Restoration Hardware, Inc. has leased 5,391 square feet of Industrial space.  [more]
Alberto Palomino, LLC has leased 2,790 square feet of Retail space.  [more]
Pure Mororsport, LLC has leased 2,821 square feet of Industrial space.  [more]
Prime Selection, Inc. has leased 4,050 square feet of industrial space  [more]
July 2010
Alexander M. Zvegintzov (Plaza Home Mortgage) has leased 1.409 square feet of Office space.  [more]
May 2010
National City Cable, Inc. has leased 2,640 square feet of Office/Warehouse space  [more]
Paylease, Inc. has leased 3,921 square feet of Office space  [more]
Noor Clothing, Inc. has leased 2,630 square feet of Retail space  [more]
Yu Le Weng dba China Express has leased 930 square feet of Retail space  [more]
Vy Nguyen and Edwin Widjojo dba Ocean Foot Massage has leased 2,790 square feet of Retail space  [more]
April 2010
Plural Publishing has leased 8,000 square feet of space  [more]
March 2010
JJC Foods, LLC (Taco Bell) has leased square feet of Fast Food Drive Thru space  [more]
Alfred Angelo Brides Studio #3 has leased 7,000 square feet of Bridal Salon space  [more]
Richard and Tiffany Trevino dba Indigo Cafe has leased 1,310 square feet of Retail space  [more]
Chris Nikolsky has leased 1,375 square feet of Industrial space  [more]
Jerry Mooney dba FOAMCO has leased 9,138 square feet of Industrial space  [more]
Subway Real Estate Corp. has leased 1,860 square feet of Retail space  [more]
February 2010
Sign-a-rama has leased 1,860 square feet of Retail, Office, Industrial space  [more]
VIEW CURRENT
US commercial property prices may be outrunning rents

By:  IIaina Jonas - Reuters

 

US commercial property prices may be too rosy -Vornado CEO

 

NEW YORK Feb 8 (Reuters) - Prices on some U.S. commercial real estate prices have gotten so high they may not be able to generate enough cash to justify the price tag, Vornado Realty Trust's (VNO.N) CEO said.

Although prices are up over the past two years, rents in most U.S. commercial real estate markets are lagging.

"I think we've bottomed, and we're going in an upward trend," Vornado CEO Michael Fascitelli said on Tuesday while speaking at a real estate event hosted by De La Salle Academy, a private, independent, nonsectarian middle school for economically disadvantaged boys and girls located here in Manhattan.

"The question is what's the slope of that line going upward," he said. "The pricing is indicating a much more robust recovery in three to five years than I think we might have."

Since hitting lows in mid-2009, U.S. commercial property prices are up 33 percent but still off 18 percent from their peak in 2007, according to the Green Street Advisors Commercial Property Price Index.

Vornado chiefly owns office and retail properties in key U.S. markets, with most of the properties located in Manhattan and in the Washington, D.C. area. Those markets have been the primary beneficiaries of federal spending, either from the bailouts of Wall Street or the expansion of the federal government.

But elsewhere the U.S. commercial real estate market has been sluggish, mirroring job growth.

Interest rates still pose a risk for U.S. commercial real estate, whose sales depend on using a great deal of borrowed money, Fascitelli said. Low rates have helped owners hang on to their properties and have lifted prices by keeping borrowing costs low. The lower the borrowing costs, generally, the higher prices rise.

But it is unlikely interest rates will fall further, so real estate values will have to depend on income the properties generate from rent.

"I worry about rates spiking up without inflation in assets," he said. "You have to make the money by income going up. The risk is that you do OK on the front rentals for a while, but interest rate rises take all the juice away."

Shares of Vornado on Tuesday were off 14 cents at $87.09.