In case you missed it, here our latest weekly roundup of top national commercial real estate stories, as reported by our well-connected and in-the-know CoStar News team.
Newmark Grubb Expands National Valuation/Appraisal Practice With Key Hires, Plans for New Offices
After recruiting Cushman & Wakefield's former global appraisal and valuation chief John D. Busi, NGKF has hired four other senior valuation execs to round out a leadership team tasked with growing NGKF's North American valuation/advisory business line. CoStar learned exclusively last week that Busi has recruited Stephen DuPlantis and Helene Jacobson, both previously CBRE senior managing directors, and also added former Cushman exec Ken Audette as well as Jason Hutchins, founder and director of CBRE’s Houston-based valuation operation.
As Fed Raises Rate, Will Higher Cap Rates, Lower Property Values Follow? Not So Fast
With the quarter-point interest rate hike a done deal as of last week, the Fed is signaling that the U.S. economy is another step closer to full health after its slow recovery from the depths of the Great Recession. While many investors believe higher interest rates automatically translate into higher cap rates and lower property values, new research from TH Real Estate calls into question a direct link between the two.
Global CRE Group Bans Dual Agency in UK, Unifying Standards in US May Prove More Elusive
The Royal Institution of Chartered Surveyors (RICS) has published a statement containing more stringent conflict-of-interest requirements, including a ban on dual-agency representation in real estate transactions. Imposing a similar uniform standard would prove difficult in the U.S., where each of the 50 states sets its own laws governing real estate deal-making.
Rethinking Retail: Industry Still Adding Jobs in Shifting, Expanding Sector
Despite the negative headlines on retail store closings, retailers continue to add more jobs than they are cutting. The retail sector logged the most job gains among employment sectors in January with 46,000 jobs added, according to the latest BLS data. In fact, total retail employment surpassed pre-recession peaks two years ago.