What I'm Reading Long in the Tooth: The average US warehouse is 42 years old and only 14% of warehouses are less than 10 years old. This is a big problem in an industry that is changing rapidly where older product tends to be functionally obsolete. Newer buildings typically have...
November 19th – Perfect Disguise
What I'm Reading Narrative Shift: Distressed debt funds are rebranding themselves as "opportunistic credit" as they come to the realization that distressed opportunities don't really exist at the moment. WealthManagement.com Turning Point? North American sublease office sector inventory declined for the first time since the pandemic began. Cushman and Wakefield...
May 18th – Everything Must Go
What I'm Reading Everything Must Go: San Francisco's biggest tech companies are sitting on a mountain of empty office space that has come available for sublease. Unlike landlords, these companies are not in the business of leasing real estate and are willing to take big impairments to sublease at a...
February 12th – Green Machine
What I'm Reading Green Machine: As if brick and mortar retail landlords and businesses don't already have enough cause for concern, a new study by the MIT Real Estate Innovation Lab found a tangible environmental benefit to online shopping. In particular, the study concluded that carbon emissions from online shopping...
December 21st – Temporary Move?
What I’m Reading Temporary Solution: The number of renters seeking short term (less than 6 month) lease arrangements when moving to new cities is way up this year. This suggests that the move away from urban markets may be more temporary than thought. Apartment List Sweet Spot: Pent up demand, healthy...
November 13th – Pile Up
What I’m Reading Pile Up: Corporate tenants put a record 42 million square feet of space on the office market in the second and third quarters, according to data firm CoStar Group Inc. That increased the total sublease space in the U.S. to roughly 157 million square feet, or 1.7% of...