Even as banking regulators and politicians deal with the fallout from the collapse of commercial real estate values and the subsequent impact on the banking systems, it appears that an increasing number of lenders are more inclined to jump back into the sector. Total renewals of existing commercial real estate accounts increased 57% from November to December of last year, according to numbers released this week by the U.S. Department of Treasury. Treasury completes a monthly tally of lending activity of the nation’s 20 largest bank, which control 57% of all U.S. banking assets. (more…)
Commercial real estate in downtown Glendale had a rough year in 2009, with vacancy rates soaring close to 20% and demand for space almost nonexistent, but a small sale at year’s end may offer validation that the city’s commercial core remains desirable, brokers said. A private real estate investment firm, MO&M Investment, bought the $2.5-million two-story brick building at 344 N. Central Ave. in December. While the sale of a small property during a slow real estate market was not unique, the price — at about $510 a square foot — caught some by surprise. (more…)
I don’t know anyone who will not be happy to see 2009 in the rear view mirror. To say it was a challenging year is an understatement. Before we take a look at what commercial real estate market participants should be watching in 2010, let’s take a look back at some key events which took place in 2009:
In January, Barack Obama is sworn into the office of president of the United States making him the first African-American president in U.S. history.
Great article from Globest.com Check it out:
SUGAR LAND, TX-Companies plan to spend 2.7% less on North American industrial project construction next year, according to Industrial Info Resources Inc. (IIR) The Sugar Land-based company forecasts the value of industrial project construction in 2010 will be $147.2 billion, compared to about $151 billion this year.
Tax Credits are Great Incentives to Go Green Now!
There’s never been a better time to “go green.” Federal tax credits for energy efficiency (available through 2009 and 2010) are amazing incentives to build energy efficient homes and upgrade existing homes.
Through 2010 existing home owners can save 30 percent of the cost of upgrades, up to $1,500, according to the US Environmental Protection Agency and US Department of Energy’s Energy Star program.
The concept of building an environmentally friendly home or business is more than just a passing political fad. According to the U.S. Environmental Protection Agency, buildings have a tremendous impact on energy consumption and the natural environment.
Following are statistics reported by the EPA online:
In the United States, buildings account for:
There’s no news like good news and Federal Reserve Chairman Ben Bernanke delivered some great news to a gathering of financial gurus in Jackson Hole, Wyo. Friday (Aug. 21) according to an Associated Press report released Friday morning.
Bernanke told participants at a conference sponsored by the Federal Reserve Bank of Kansas City that the U.S. economy is on the verge of recovery. While optimistic about the future of the U.S. economy, Bernanke emphasized the importance of continued (more…)