Simply Commercial Real Estate

Real Estate Awards and Redevelopment Projects

Basis Industrial wins Commercial Observer's Breakthrough Award for Industrial Transaction of the Year. The Cumberland County Board of Commissioners approves the redesigned Crown Event Center. Terreno Realty begins a $64M redevelopment in Los Angeles and Sterling Bay and Key International collaborate on a Miami office tower project.Sources:https://www.prnewswire.com/news-releases/real-estate-owner--operator-basis-industrial-wins-commercial-observers-breakthrough-award-in-industrial-transaction-of-the-year-category-302045331.htmlhttps://bizfayetteville.com/commercial-real-estate/2024/1/26/committee-moves-redesigned-crown-event-center-forward/2626https://www.commercialsearch.com/news/terreno-realty-begins-64m-redevelopment-in-los-angeles/https://www.commercialsearch.com/news/sterling-bay-key-international-to-develop-miami-office-tower/

US Commercial Real Estate Faces Steepest Decline in 50 Years, Dallas Remains Top Spot for CRE Investment

The US commercial real estate market is experiencing one of the steepest declines in decades, surpassing previous rate-hike cycles, according to the International Monetary Fund. Meanwhile, Dallas-Fort Worth maintains its position as the top spot for commercial property transactions in the US, despite a significant drop in annual transaction volume. Additionally, Dallas-Fort Worth leads the country in office construction, defying the national trend of oversupply. Plus, the Florida Department of Revenue allows tax savings for donators of homes and commercial property to charities.Sources:https://www.rprealtyplus.com/allied/us-commercial-real-estate-steepest-price-decline-in-50-years-113795.htmlhttps://www.bisnow.com/dallas-ft-worth/news/commercial-real-estate/dallas-holds-top-spot-for-us-cre-investment-in-2023-despite-plummeting-transaction-volume-122548https://www.dallasnews.com/business/real-estate/2024/01/24/dallas-fort-worth-leads-country-in-office-construction/https://www.einnews.com/pr_news/683663301/florida-department-of-revenue-allows-donators-of-homes-and-commercial-property-to-charities-to-save-on-taxes

Australian Commercial Property Market Surges, IMF Warns of Global Crisis

The Australian commercial property market is projected to reach USD 47.15 billion by 2028, driven by urbanization and flexible working environments. Meanwhile, the IMF raises concerns about the global commercial real estate market, particularly in the US, where prices have tumbled by 11%. Plus, commercial mortgage lending is expected to jump 29% in 2024 after a slow year. Stay informed about the opportunities and risks in the commercial property market with 'Simply'.Sources:https://www.globenewswire.com/news-release/2024/01/24/2814685/28124/en/Australian-Commercial-Property-Market-Forecasted-Growth-to-USD-47-15-Billion-by-202.htmlhttps://www.wsws.org/en/articles/2024/01/24/ntym-j24.htmlhttps://www.wsws.org/en/articles/2024/01/24/ntym-j24.htmlhttps://www.businessinsider.com/commercial-real-estate-mortgage-lending-borrowing-slowdown-default-delinquency-property-2024-1

Commercial Property Rates Surge, Remote Work Impacts Real Estate, AI in Real Estate, Philadelphia’s Office Market

Commercial property rates increase 10.34% in Q4 2023. The shift to remote work during the pandemic has had a lasting impact on the commercial real estate industry. Commercial real estate lending conditions tighten more than any other sector. The Philadelphia office market had a mixed performance in 2023.