January 2010

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Matter of Debate: Bottom in Commercial-Property Values

Submitted by jbonica on Wed, 01/27/2010 - 17:34

Bubblenomics

By CHRISTINA S.N. LEWIS

While the pace of commercial real-estate sales remains anemic, a few gutsy real-estate experts are saying prices have stabilized and are even, in some cases, rising from their lows of the recession.

Ohio's Struggling Commercial Real Estate Market Provides Opportunities for Investors

Submitted by jbonica on Mon, 01/25/2010 - 22:55

Bubblenomics

Although the economy seems to be on the mend, the commercial real estate market is still facing an uphill battle.

To provide information and insight into the challenges and opportunities of the commercial real estate industry in the state of Ohio, Smith Realty Partners recently released its annual Smith Report, and the firm conducted the Central Ohio Commercial Real Estate Survey as part of the report. According to the results, central Ohio business professionals say the commercial real estate market has a way to go.

N.J. commercial landlords tack on incentives to fill vacant space

Submitted by jbonica on Mon, 01/25/2010 - 22:50

Bubblenomics

By Sean Sposito

The deserted office building off Prospect Plains Road in Cranbury looks as if it could still be occupied, with 42 acres of manicured landscaping and traffic signs advising employees where to park.

But it’s been more than two years since Aetna Insurance moved out of the space at 1 Continental Drive, leaving the 500,000-square-foot building empty as the day it was built.

Regulators close five banks in U.S.

Submitted by jbonica on Mon, 01/25/2010 - 22:45

Bubblenomics

* Banks in Fla, Missouri, New Mexico, Oregon, Washington

WASHINGTON, Jan 22 (Reuters) - Regulators seized five U.S. banks on Friday, driving up the tally in what is expected to be a busy year for bank failures.

The failed banks are, the Columbia River Bank of Oregon, which had about $1.1 billion in assets and $1 billion in deposits as of Sept. 30; Charter Bank of Santa Fe, New Mexico with about $1.2 billion in assets and $851.5 million in deposits as of Sept 30; Evergreen Bank of Seattle; the Premier American Bank in Miami; and the Bank of Leeton in Missouri, which had a single branch.

Commercial Real Estate and NBC Weigh Down G.E.

Submitted by jbonica on Mon, 01/25/2010 - 22:40

Bubblenomics

General Electric’s decision to shrink its commercial finance arm and eventually divest itself of NBC Universal couldn’t have come fast enough.

G.E.’s 19 percent drop in fourth-quarter earnings may have beaten analyst estimates, but the firm’s bottom line was still hurt by continuing weakness in GE Capital, notably in commercial real estate, and NBC Universal.

The conglomerate’s $3 billion in earnings, off $41.1 billion in revenue, amounted to 28 cents a share, beating the consensus forecast of 26 cents a share according to Bloomberg News.

Bair Says CRE Woes Aren't Confined to Small Banks

Submitted by jbonica on Mon, 01/25/2010 - 22:35

Bubblenomics

For months, analysts and industry experts have assured the markets that the downturn in the commercial real estate (CRE) sector won’t be enough to send the financial system into a second crisis – that it won’t be the dreaded “next shoe to drop” because exposure is, for the most part, isolated to smaller, community banks.

But at the Commercial Mortgage Securities Association Annual Conference in Washington, D.C. this week, FDIC Chairman Sheila Bair presented some sobering data that paints a very different picture.

Property Bonds Beat Corporates as Simon Sells: Credit Markets

Submitted by jbonica on Mon, 01/25/2010 - 22:29

Bubblenomics

By Gabrielle Coppola and Sapna Maheshwari

Jan. 20 (Bloomberg) -- Real estate borrowers are leading the rally in U.S. corporate bonds as investors add to bets property companies will weather an increase in commercial mortgage defaults.

http://www.fwbusinesspress.com/display.php?id=11757

Submitted by jbonica on Mon, 01/25/2010 - 22:25

Bubblenomics

BY ALESHIA HOWE

All indicators show the commercial real estate depression that has gripped the country for the past year has started to appear in Tarrant County as vacancy averages in two of the local industry sectors are reporting higher numbers than the national averages.
According to presenters at the 2010 Tarrant County Commercial Real Estate Forecast held today at the Fort Worth Convention Center, vacancies in both the Tarrant retail and industrial sectors currently are higher than national averages – a trend that has not appeared to date in the current recession.

How high, how long? Commercial real estate vacancies expected to stay high through 2010

Submitted by jbonica on Mon, 01/25/2010 - 22:15

Bubblenomics

By Brian Duggan

While the housing market could hit bottom this year, commercial real estate is expected to have a bleak 2010 no thanks to high vacancy rates and tight lending, industry insiders said Wednesday at the Builders Association of Northern Nevada annual forecast in Reno.

Baltimore-area office vacancies hit 15-year peak in 2009

Submitted by jbonica on Mon, 01/25/2010 - 22:08

Bubblenomics

By Lorraine Mirabella

Office vacancies in the Baltimore area climbed to the highest level in at least 15 years in 2009, when demand for space fell as businesses scaled back or put expansions on hold. And industry insiders warn that commercial foreclosures will likely rise in the coming months.

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