July 14, 2016
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In This Issue |
Top Stories
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Local News
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National News
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There’s no question that commercial real estate is becoming an increasingly mobile industry – brokers are constantly on the move and they need to run their leasing business from their phone. Here’s a list of go-to apps for commercial real estate brokers.
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Both Ulta, which plans to open 100 stores in fiscal year 2016, and Sephora pamper shoppers with complimentary consultations and mini-makeovers. Those services are not just tertiary in the battle to stay competitive. Ulta Beauty, for instance, posted a same-store sales increase of 15.2 percent for stores and e-commerce, along with a 23.7 percent increase in net sales.
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The four palettes—Noir, Holistic, Intrepid, and Unbounded—were developed by a team of design and color experts.
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Suburban office markets have been slow to climb out of the recession. Added competition from downtowns isn’t making that recovery any easier. But the suburbs and suburban campuses are by no means falling by the wayside.
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Developer Mike Lynd has shelved a midrise building planned for suburban Austin with 325 units, and a tower of more than 30 stories in Houston. Lenders have started tightening underwriting, and land costs in Austin have doubled in three years, "choking off the ability to add supply to Austin in a big way," he said.
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Multifamily has been a large percentage of construction nationwide this cycle, but WoodWorks senior national director Scott Lockyear says that will probably ease soon.
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Tangible assets have pulled ahead this year as a popular alternative investment option for high-net-worth investors. According to a recent U.S. Trust survey, nearly 60% of HNW clients were optimistic about land, timber and investment real estate — more so than were enthusiastic about stocks, bonds, hedge funds and private equity.
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For the fourth time since 2008, ARA Newmark negotiated the sale of a 300-unit multifamily property called The Current, once known as Bluffs at Town Lake. This time around, the property was sold to Avesta for an undisclosed price. At close of escrow, The Current was 93% occupied.
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The US real estate market could get a boost in the coming months, some analysts are predicting, thanks to the UK’s vote to leave the European Union. The news could add further fire to the already overheated property markets in some of the U.S.’s biggest cities.
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Recently, the U.S. Senate passed the Energy Policy Modernization Act of 2015 (EPMA), which promises to make energy more abundant, affordable, and efficient, as well as update the energy grid. On the energy efficiency front, the Act would create and strengthen several programs devoted to improving energy efficiency in buildings, such as state efficiency programs, which directly impact the multifamily industry.
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Tech firms are creating a highly-detailed virtual planet available instantly for those who would like to scrutinize it. SmithGroupJJR's Stephen Conschafter details the new technologies being used to map our world.
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One of the most important protective barriers to an apartment is the roof. They come in a few shapes and sizes, but for the most part are pretty standard on most multifamily properties. When maintained properly, apartment roofing can last for many years, even a few decades.
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