Jul 10, 2012 2:17 PM, By Jennifer Popovec, Contributing Writer
After several years of little new apartment construction, development activity has ramped up. But industry experts aren’t worried about overbuilding. The number of units under construction is still below historic norms. Plus, most properties coming online today are leasing quickly—with some rental rates well above expectations.
“We’re coming off two exceptionally low years of new deliveries, and we’re still well below the long-term average,” says Michael Ging, Alliance Residential Company’s (ARC) Florida managing director of development. “I don’t see where we’re going to have an oversupply condition.” ARC’s newest property, [Full Article]
Jul 10, 2012 2:29 PM, By Elaine Misonzhnik, Senior Associate Editor
A property manager’s job is never done. Especially not in today’s world, where the need to retain old tenants and attract new ones, combined with those tenants’ heightened expectations for round-the-clock service, have left property managers with more responsibilities than ever.
Just a few years ago, property management was about basic building services: contract negotiations, rent collection, cleaning and maintenance, says Dan Pufunt, president of property management with Jones Lang LaSalle in Chicago. Today, property managers also have to [Full Article]
by Matt Hudgins (http://www.reforum-digital.com)
When Clarion Partners acquired the Plantation Apartments at the Woodlands late last year, the 432-unit, luxury complex north of Houston was just three years old and required only minor upgrades and leasing to increase the revenue stream and boost value. Clarion expects an easy task of maintaining full occupancy at its new multifamily
asset. After all, the Houston metropolitan area’s economy is one of the strongest in the nation, having added more than 85,000 jobs in the 12 months that ended in [Full Article]
May 30, 2012 4:09 PM
Fred Schmidt, president and CEO of Coldwell Banker Commercial, talks about the optimism in the retail sector. Coldwell Banker has offices in primary, secondary and tertiary markets across the country and sees across-the-board decreases in vacancies and increases in demand. Coldwell Banker’s deal volume is increasing, mirroring national trends and seeing slow and steady growth as the year progresses. One particularly hot area [Full Article]