CPE’s January 2020 Must-Reads

Catch up on our most important stories, interviews and rankings for last month.

January is generally a particularly busy month for commercial real estate news, as experts continue to look back on the previous year to forecast the prospects ahead. We wrapped up our series of interviews with industry executives about what to expect from 2020, with a focus on the self storage and office sectors; we talked to RICS Economist Tarrant Parsons about what global markets to watch this year, and to Mark Zandi, chief economist for Moody’s Analytics, about which property types are expected to outperform others in current economic conditions.

Big-dollar transactions have also made the headlines in January. In Las Vegas, Blackstone formed a joint venture with MGM Growth Properties to acquire MGM’s casinos and resorts in a record sale-leaseback deal. ElmTree Funds sold its majority stake in an 18-property portfolio of industrial and office assets for $900 million.

On the heels of a new Cushman & Wakefield report about how the data centers market evolved over the past decade, Stack Infrastructure teamed up with Peterson Cos. to develop a 125-acre, multi-phase data center complex in Northern Virginia.

Last month, we also paid close attention to the commercial real estate market abroad. According to JLL’s City Momentum Index for 2020, Indian cities are on the rise, as they scored seven spots on the report. Meanwhile, Hines completed the first closing of its European Value Fund 2, totaling more than $700 million. And also in Europe, Belgium’s largest standalone office building changed hands in January.

Here are CPE’s must-reads for last month:

Top Mortgage Banking Firms 2020

This year’s participating mortgage banking firms originated upwards of $148 billion as direct lenders and more than $131 billion as financial intermediaries over the 12 months ending in September 2019.

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5 Markets With the Greatest Vacancy Loss

Metro-level vacancy rates dropped by at least 170 basis points, more than four times the national average.

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Macy’s Store Closings: What You Need to Know

Nearly 30 of the retailer’s 641 locations will shutter following a moderate decline in comparable sales through the holiday season.

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Another Strong Year for CRE in 2020

In a national survey from RCLCO, senior professionals weigh in on the industry’s prospects this year, the timing of a possible downturn and more.

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UBS Report Offers Investment Strategies for 2020

The firm’s outlook flags oversupply concerns in the apartment sector and sluggish construction in retail.

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Self Storage Rents and Inventory Still Out of Balance

Although metros in the West maintained rent growth, on a national level, street-rate rents have dropped 1.7 percent over the past 12 months.

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Top 10 States for LEED Certification 2019

The latest figures indicate a year-over-year decline in the number of projects awarded the green building label.

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WeWork Leases 45% of Flex Office Space in Major Markets

A report from Savills and Workthere details the state of the sector in New York City, Los Angeles, Chicago and other key metros.

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