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Monthly Archives: April 2013

District of Columbia Faces Apartment Glut

Washington, DC is poised to be one of the only major U.S. cities with a decline in apartment rents this year after a surge in construction outpaced job growth, leaving the nation’s capital with a glut of properties.

The dollar volume of Washington-area multifamily sales increased 22 percent last year to $6.08 billion, according to data from global commercial real estate data and information firm Real Capital Analytics Inc. There were 126 properties that changed hands, the most since 2007.

Read this full article on Bloomberg

District of Columbia Faces Apartment Glut

Washington, DC is poised to be one of the only major U.S. cities with a decline in apartment rents this year after a surge in construction outpaced job growth, leaving the nation’s capital with a glut of properties.

The dollar volume of Washington-area multifamily sales increased 22 percent last year to $6.08 billion, according to data from global commercial real estate data and information firm Real Capital Analytics Inc. There were 126 properties that changed hands, the most since 2007.

Read this full article on Bloomberg

Vornado Plans Renovations on Building in Penn Plaza

REIT Vornado Realty Trust is planning renovations on 7 West 34th Street. Vornado plans to convert the 450,000 square-foot property from showroom space to an office building to attract technology and media tenants.

“I’m not sure how much the showrooms would pay, but obviously Vornado thinks the highest and best use is office space,” Dan Fasulo, managing director at global commercial real estate information and data firm Real Capital Analytics, told The Commercial Observer. “I’m sure they will be able to raise income of the property after renovation.”

Vornado Plans Renovations on Building in Penn Plaza

REIT Vornado Realty Trust is planning renovations on 7 West 34th Street. Vornado plans to convert the 450,000 square-foot property from showroom space to an office building to attract technology and media tenants.

“I’m not sure how much the showrooms would pay, but obviously Vornado thinks the highest and best use is office space,” Dan Fasulo, managing director at global commercial real estate information and data firm Real Capital Analytics, told The Commercial Observer. “I’m sure they will be able to raise income of the property after renovation.”

Industrial Properties Attract Institutional Investors

More investors have begun to see industrial properties as safe bets and have even started buying up product in tertiary markets according to figures just released by global commercial property analytics and data firm Real Capital Analytics. The sales of significant industrial properties totaled $2.2 billion in February, an increase of 22% from the previous February, bringing the total for the year’s first two months up to$4.8 billion, up 26% from last year, the data provider found.

For more information on industrial properties, read “Institutional Buyers Getting Into Industrials” and read the latest issue of US Capital Trends.

Industrial Properties Attract Institutional Investors

More investors have begun to see industrial properties as safe bets and have even started buying up product in tertiary markets according to figures just released by global commercial property analytics and data firm Real Capital Analytics. The sales of significant industrial properties totaled $2.2 billion in February, an increase of 22% from the previous February, bringing the total for the year’s first two months up to$4.8 billion, up 26% from last year, the data provider found.

For more information on industrial properties, read “Institutional Buyers Getting Into Industrials” and read the latest issue of US Capital Trends.