Distressed U.S. office properties have lost more than half their value, threatening billions in losses for commercial mortgage investors, according to a CoStar analysis of 270 specially serviced loans in commercial mortgage-backed securities deals that have been reappraised in the past 12 months. The scale of distress, $19.2 billion in troubled debt backed by only…
Interesting rankings for domestic manufacturing locations! No big surprise that the Southeast & Midwest are leading the way as labor is the largest single cost component followed by utility costs. Great opportunities for re-shoring manufacturing operations for sure!
For the first time in 15 years, U.S. logistics tenants have vacated more space than they moved into during a given quarter, a phenomenon that was driven by businesses slowing expansion plans over the past year in the face of deteriorating consumer confidence and uncertainty over global trade as well as new speculative build deliveries…
While there has been strong recovery in the office market driven by RTO initiatives, damage has already been done. This issue is greatest/most concentrated in class “B” & “C” office assets where landlords haven’t invested in the assets enough to make them most desirable to prospective tenants. While these assets/owners will suffer during the next…
A very interesting view of Micropolitans. We most often see rankings for larger metros, that carry significant weight in the world of corporate site selection. However, these smaller cities often offer better opportunities for talent attraction and retention and overall quality of life. Well worth a look! 2024 Top Micropolitans (By Number of Projects)
While programs change and vary significantly from state to state, key determinate factors always include industry sector, level of incremental headcount capital investment, and estimated wages. Interestingly, states that offer more robust incentive packages usually have higher tax rates. Therefore, for better perspective, we’ve included each state’s Tax Competitiveness rate in parentheses below (lower is…
Interesting stat from YE 2024. We are still underwater in available workers to open jobs. Talent wars will remain hot in 2025. Talent centered site selection strategy will be a big key to success for corporations relocating or establishing new facilities. As of year-end 2024, there are 85 available workers for every 100 open jobs…
No surprises at the top, but a few great opportunities in historically non-traditional tech markets like Atlanta, Chicago and Dallas. A great move would be to identify the top 3 or 4 secondary markets in this category while they are still under the radar!
The city’s office tour activity surged 25.3% YOY, closing the year with a VTS Office Demand Index (VODI) of 94 after briefly topping 100 in November. Tech and finance drove growth, solidifying NYC as the top U.S. office market. National office demand rose 12.3% in Q4, with the VODI up 39.1% since December 2022. San…
While return to office is in full swing in most industries, 2024 still ended with a wave of loan defaults in the office sector. Refilling pandemic driven vacancies and the associated rental abatements/ concessions take time, so borrowers, particularly in the hardest hit office sectors haven’t been able to keep up with loan payments. Five…