U.S. Commercial Real Estate Market Showing First Signs of a Thaw

(Bloomberg) — U.S. commercial real estate deals tumbled in the third quarter as Covid-19 continued to hammer the economy, but prices showed signs of improvement, according to Real Capital Analytics Inc.



Philip Gaucher et al. sitting at a bus stop: Customers sit in the outside dining area of a restaurant in front of an empty storefront displaying a retail space information on Madison Avenue in New York, U.S., on Saturday, Sept. 26, 2020. The pandemic has battered New York City businesses, with almost 6,000 closures, a jump of about 40% in bankruptcy filings across the region and shuttered storefronts in the business districts of all five boroughs.


© Bloomberg
Customers sit in the outside dining area of a restaurant in front of an empty storefront displaying a retail space information on Madison Avenue in New York, U.S., on Saturday, Sept. 26, 2020. The pandemic has battered New York City businesses, with almost 6,000 closures, a jump of about 40% in bankruptcy filings across the region and shuttered storefronts in the business districts of all five boroughs.

While investment volume fell 57% from a year earlier, prices climbed 1.4% on average, the research firm said in a report Wednesday. Deals picked up from the previous quarter, exceeding typical seasonal changes.

“Everything is not gloom and doom in the commercial property markets today,” analysts led by Senior Vice

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Starboard Commercial Real Estate Announces Sale of 893 Folsom Street in San Francisco

SAN FRANCISCO, Oct. 21, 2020 /PRNewswire/ — Starboard Commercial Real Estate, privately owned and locally-based San Francisco commercial real estate firm, announced the sale of 893 Folsom Street, located on the Folsom Street Corridor in the SOMA neighborhood of San Francisco.

This centrally located property offers more than 12,293 total square feet and quick and convenient access to both Caltrain and BART, as well as several popular restaurants, bars, and specialty cafes. The property also includes an additional 8,500 square foot lot, allowing for future development including housing, office space, hotel lodging, or mixed-use.

“Properties like 893 Folsom do not come around often. The location is so central and the building offers very flexible zoning, which allows for investors to have stable cash flow during development opportunities down the road. It’s just half a block from the new 4th street muni line and walking distance to

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Mega-Buy Launches Foray into Commercial Real Estate

HOUSTON—Privately held real estate search portal Realty.com recently acquired the entire commercial real estate portfolio of Texas-based Oxley Leasing. The transaction includes approximately 1 million square feet of office space in Houston and Dallas.

The acquisition was led by Realty.com CEO Lance Custen. The purchase price was undisclosed.

The properties are located at 2646 S. Loop West and 8303-8313-8323 Southwest Freeway, both in Houston, 213 W. Southmore Ave. in Pasadena, TX and 5787 S. Hampton Rd. in Dallas. The mega-buy will result in the renovation of all buildings into class-A office spaces with amenities including full-size restaurants, arcades and gyms.

The reasoning for the acquisition is two-fold, says Custen.

“Realty.com Is on a mission to disrupt the real estate market. Up to this point, the primary focus has been in the residential market by providing real estate agents the ability to be the exclusive premium Realty.com agent in their city,”

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New York Commercial Eviction, Foreclosure Ban Extended

Gov. Andrew Cuomo (Getty, iStock)

Gov. Andrew Cuomo (Getty, iStock)

Landlords looking to boot non-paying commercial tenants will have to wait until the new year.

New York’s moratorium on commercial evictions and foreclosures due to non-payment of rent will be in place through Jan. 1, 2021, Gov. Andrew Cuomo announced in a press conference Tuesday.

The governor can only extend the ban for 30-day periods — meaning the latest order will need to be renewed again on Nov. 19. A spokesperson for the governor’s office said the ban would remain in place.

Cuomo said the commercial eviction and foreclosure moratorium would align with the rules governing residential evictions, although the legislation limiting some residential evictions is not a blanket moratorium — it allows tenants to raise a defense in non-payment cases, and allows landlords to seek a money judgments instead of eviction if the tenant is eligible. As of last week in Rochester, 27 eviction

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New York commercial eviction, foreclosure halt extended again

Albany, N.Y. — New York’s halt to commercial evictions and foreclosures has been extended through Jan. 1.

Gov. Andrew Cuomo announced a moratorium on commercial evictions and foreclosures earlier in the coronavirus pandemic and has extended the order several times. He announced the latest extension today.

Residential evictions have also been halted.

“The health and economic impacts of this pandemic have been devastating, and we are continuing to do everything we can to support people who are suffering,” Cuomo said in a press release.

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Building Engines Launches Partner Network to Create the First Comprehensive Building Operations Ecosystem for Commercial Real Estate

Network brings together CRE tech partners and service vendors in industry’s new centralized building operations hub, Prism

Building Engines, the leading provider of building operations software for modern commercial real estate (CRE), has launched a comprehensive Partner Network. The Network is comprised of technical partners that offer various levels of integration into Building Engines’ new building operations software platform, Prism, as well as vendor partners that offer best-of-breed services, such as cleaning, carpentry, landscaping, and roofing to CRE property owners and operators. The Partner Network will play a central role the growth of Building Engines as it executes its build, partner and buy strategy.

Today, many CRE owners and operators struggle with tech stacks that are overly-complicated and require multiple log ins and replicating data sets across systems. Evaluating, selecting, implementing and managing additional point solutions that focus on solving a single problem further complicates the technical environment. To make

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CVB Financial: One Of The Best Commercial Real Estate Lenders In The Country (NASDAQ:CVBF)

Investment Thesis

Headquartered in Ontario, California, CVB Financial Corporation (CVBF) is a $13.8 billion asset holding company and parent to Citizens Business Bank. While primarily located in the Southern California region, CVBF offers a wide range of financial services through its 58 branch locations and three trust offices. While size and scale are very advantageous factors when determining the root causes of success in the banking world, CVBF has managed to carve out a very reputable commercial real estate (CRE) lending franchise. With more than 64% of its portfolio associated with either owner-occupied CRE or non-owner occupied CRE, the bank has a solid grasp on the credit underwriting associated with buildings and real estate loans. Because the combined CRE portfolio has a weighted average of 52% loan to value, I would contend that CVBF is one of the best underwritten banks in the nation.

When thinking about the bank’s valuation,

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Unsanitized: Commercial Real Estate and the American Lifestyle Shift

Universal Family Care

All week long, we are rolling out our special issue on family care: the crisis that exists today, and how it can be fixed. We have seen family care exacerbated in the pandemic, between child care deserts, the lack of paid family and medical leave, and nursing home facilities turned into death traps. But I started talking with advocates about a family care issue before the pandemic, because the needs were so great. The current system hurts families, who cannot access or afford care; hurts care workers, who paradoxically make up one of the fastest-growing and lowest-paid professions in our society; hurts care providers, who are on the verge of going extinct (at least the ones that aren’t nursing homes owned by private-equity financiers which exploit workers and patients).

We can fix this for all generations across the life cycle, and we can do it through social

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Read the plan commercial real estate firm JLL used to reopen offices

  • There are a lot of things to consider before reopening your office. 
  • Jones Lang LaSalle (JLL), a commercial real estate company, shared a slide deck that the company used to reopen nearly 140 North American offices and over 200 international offices across Asia, Europe, and the Middle East. 
  • Ray Hall, the HR head at JLL Americas division, and Kathryn Ditmars, managing director at JLL’s Americas division, explained what companies should keep in mind when planning to bring people back to the office. 
  • Visit Business Insider’s homepage for more stories.

Reopening offices during a global pandemic is a complicated process. 

As the coronavirus continues to surge across the world, companies are acknowledging that changes need to be made to safely reopen offices. IBM, for example, had to completely revamp its office before beginning to reopen earlier this year. 

Large companies are announcing delays to their reopening plans. In the past week,

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Unsolicited Offers For Commercial Real Estate

Even in today’s uncertain commercial real estate market, long-term family owners of commercial real estate often get phone calls or emails out of the blue from someone offering to buy their property. Often those communications include a very impressive number that the caller says it would probably be willing to pay. The caller typically wants to make a quick off-market deal by getting the owner’s attention quickly with a big number.

It’s not always clear whether the caller is a principal or a broker. Even if the caller sounds like a principal, if you ask some questions it becomes clear they’re just trying to put together a deal. If they succeed, they will go out and find someone to take over the deal. But their number is still pretty impressive so maybe it’s worth a conversation.

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