Commercial sublease availability hits record high

Sublease availability in Tampa Bay’s commercial real estate market is at a “historical high,” according to a new quarterly report on the local office space market.



a man holding a football ball: South Africa's goalkeeper Momeeb Josephs during the African Cup of Nations soccer match, Senegal vs South Africa in Kumasi, Ghana on January 31, 2008. The match ended in a 1-1 draw. Senegal failed to qualify for the next round of the competition. Photo by Steeve McMay/Cameleon/ABACAPRESS.COM


© McMay Steeve/ABACA PRESS/Abaca
South Africa’s goalkeeper Momeeb Josephs during the African Cup of Nations soccer match, Senegal vs South Africa in Kumasi, Ghana on January 31, 2008. The match ended in a 1-1 draw. Senegal failed to qualify for the next round of the competition. Photo by Steeve McMay/Cameleon/ABACAPRESS.COM

The commercial real estate services firm JLL reported this week that 1.4 million square feet of space in Hillsborough and Pinellas counties is available for sublease, and nearly half of that has hit the market since March, when the coronavirus pandemic forced companies to send most workers home.

Kyle Koller, JLL’s research director in Florida, said 2020 1/4 u2032s sublease inventory boom rivals that of the dot-com era 20 years ago. But it doesn’t

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How Will Fewer Halloween Pop-Ups Impact Commercial Real Estate?

Fall isn’t just the season of colored leaves and pumpkin spice; it’s a season when Halloween dominates. Consumers spend billions each year on Halloween, from candy to costumes to decorations.

This year, however, things are looking different. Many Halloween plans will be canceled due to the coronavirus pandemic, and many consumers will limit their purchases due to financial constraints. All told, the National Retail Foundation anticipates an $8 billion drop in spending, which means retailers who pay to open seasonal pop-up stores may not get their money’s worth.

In fact, Party City (NYSE: PRTY) has reduced the number of its Halloween pop-up stores by 91% given the circumstances at hand. The retailer is opening 25 pop-ups, compared to the 275 locations it normally operates this time of year. And that’s undoubtedly been hard on commercial landlords nationwide.

Losing pop-up tenants is a huge blow

Property owners and landlords rely on

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United Bankshares: Confident In The Q3 Results But Exposure To Commercial Loans Remains (NASDAQ:UBSI)

Introduction

United Bankshares (UBSI) still needs to report its Q3 results and ahead of the release (next week), I noticed the option premiums have reached interesting levels as market makers are bracing for the uncertainty surrounding the Q3 results. An excellent cue for me to have a look at how the bank performed in the first half of the year and how the bank’s risk management department has been dealing with the balance sheet.

ChartData by YCharts

The H1 results indicate a strong profitability

In the first half of the year, United Bankshares saw its net interest income increase as the interest expenses decreased at a much faster pace than the interest income. This even accelerated in the second quarter as although the interest income decreased by a little bit less than 0.5%, the interest expenses decreased by more than 40% resulting in a $20M expansion of the net interest

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

(Bloomberg) — Prices on U.S. commercial real estate deals showed signs of improvement in the third quarter, though the number of transactions tumbled as Covid-19 continued to hammer the economy, 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.

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“Everything is not gloom and doom in the commercial property

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ZK International Group Co., Ltd. Approved as a Key Supplier to China’s Top 5 Commercial Real Estate Enterprise

WENZHOU, China, Oct. 22, 2020 /PRNewswire/ — ZK International Group Co., Ltd. (ZKIN) (“ZK International” or the “Company”), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, today announced that the Company has been approved as a Qualified Supplier for the Suning Real Estate Co., Ltd (“Suning Real Estate”), which in 2019, Suning Real Estate ranked among the TOP 5 of China’s Top 100 Commercial Real Estate Enterprises, the TOP 20 of China’s Most Valuable Real Estate Brands and the TOP 50 of China’s Top 100 Chinese Real Estate Enterprises.

On October 19, 2020, the Company was approved as a Qualified Supplier for Suning Real Estate, which now gives the Company the ability to increase its order flow by being able to supply stainless steel piping products to all of Suning’s projects across China. The subsidiaries

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Dallas is 2020’s top commercial real estate market

Even with the pandemic, Dallas is leading the country in commercial real estate deals.

North Texas topped much larger markets – including Los Angeles and Manhattan – as the U.S. metro area with the largest volume of commercial property transactions, according to a just released report from Real Capital Analytics.

Almost $12.8 billion in real estate acquisitions in the Dallas area were recorded through September.

“Dallas sits at the top of the leader board for deal volume in the first nine months of the year,” analysts with the respected research firm said. “Normally, Manhattan would occupy the #1 slot.”

Houston ranked ninth with about $5.5 billion in transactions.

Dallas was in third place for property purchases in Real Capital Analytics’ 2019 comparison, behind LA and Manhattan.

North Texas rocketed to the top of the list this year for the first time because of some huge property purchases in the first

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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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