It’s time for another roundup of the week’s top national commercial real estate stories reported by the CoStar News team.
Timing May Be Right for Speculative Office Development in the Suburbs
From San Francisco to Manhattan, cranes are competing for air space to build large CBD office projects. Developers and investors may do well to tap into markets and submarkets where competition with other projects isn't so keen and the barriers to entry aren’t as daunting, according to CoStar Portfolio Strategy’s top economists and advisors.
Outstanding CRE Debt Keeps Growing, Expected to Surpass Pre-Recession Peak
Commercial nonresidential real estate debt outstanding increased 5.4% in the past year and is just $14.4 billion shy of the last peak in 2008, according to the latest data from the Federal Reserve for the second quarter. The $34.6 billion increase last quarter sets a pace likely to surpass its pre-recession peak this quarter.
CCRSI Closes Out Summer With Continued Gains
The latest results of the CoStar Commercial Repeat-Sale Indices show that commercial property price growth continued to log steady gains across the board in August, powered by the trinity of low interest rates, steady capital flows and strong fundamentals.
JLL Pushes Into US Valuation, Appraisal Market With Acquisition of IRR's Houston Office
Jones Lang LaSalle is the latest CRE services provider to bulk up its valuation, counseling and appraisal operations in the U.S. JLL announced an agreement to acquire the Houston affiliate of Integra Realty Resources (IRR), adding 40 valuation and advisory professionals and establishing a base for its national valuation business.