Best Cities for Job Seekers

12/27/2016 - When you think of job opportunities, maybe New York, San Francisco or Chicago come to mind first. That might be, but when you fold in affordability--a major consideration for first-time job-seekers--that list changes dramatically. In fact, online financial consultant NerdWallet has apparently done the research to show where the best new job opportunities are, and the results appeared in a recent Commercial Property Executive report written by ... [ Read More ]

Industry Proposes Tax Reform Guidelines

12/22/2016 - WASHINGTON, DC--Much was made of tax reform during the heated presidential election.Now, with Donald Trump heading to the oval office, leaders of the commercial real estate industry have sent a letter to Congress spelling out key principles of reform. As reported by the National Multifamily Housing Council, the NMHC/NAA (the National Apartment Association) and a coalition of industry organizations have proposed to House Speaker Paul Ryan ... [ Read More ]

Supply & Rent Growth: Too Much of a Good Thing?

12/19/2016 - RICHARDSON, TX—An expected 10% to 20% increase in the supply of apartment product will be accompanied by a slowing in rent growth, according to RealPage’s MPF Research in a new GlobeSt.com article. In fact, as writer Paul Bubny explains, there are some 353,000 units coming online in 2017, up from the “three-decade high” of 310,000 units delivered this year. Rent growth, meanwhile, will moderate, “with ... [ Read More ]

Supreme Court Punts on Sale Tax Issue

12/19/2016 - CHICAGO--THE US Supreme Court has taken a pass on a ruling that could have set precedents in the ongoing issue of Internet sales tax. Writing for the Institute of Real Estate Management, Beth Wanless and Andrew Lomo state that, “IREM supports the enforcement of the collection of online sales tax as it would level the playing field for our members who manage shopping centers and ... [ Read More ]

4 Key Challenges for 2017

12/14/2016 - KANSAS CITY, MO--Incoming IREM president Michael T. Lanning, CPM, has some very clear ideas on what real estate professionals need to focus on in the coming year, as he explained in a recent article in Bisnow. The article also recently appeared on the IREM news page. According to Lanning, who is also senior vice president and asset services leader for Cushman & Wakefield here, states that the ... [ Read More ]

Brexit, Trump Deliver ‘Economic Nationalism’

12/9/2016 - NEW YORK CITY--The passage of the UK’s exit from the European Union and the election of Donald Trump have delivered a one-two punch of what Fitch Ratings calls economic nationalism described as “reduction in trade openness and international labor migration.” The theory is part of Fitch’s most recent global economic outlook. “At the same time, electoral expressions of discontent are pushing leaders in the advanced economies to ... [ Read More ]

How to Manage Bias in the Hiring Process

12/9/2016 - A recent article on Gallup.com tackles the issue of hiring bias head on.The authors, Adam Hickman and Kevin Campbell (aided by Becky McCarville), admit that bias is part of the human experience. But, as they point out, the key to developing best practices in the hiring process is not to eliminate bias but rather recognize what biases the hiring manager is susceptible to. “Recognizing blind spots ... [ Read More ]

Plenty to Go Around: Single- and Multifamily Activity Rises

12/9/2016 - The push-pull of single-vs-multifamily activity is often described as just that--a tug of war.But statistics from both the National Multifamily Housing Council and Fitch Ratings show that there’s plenty of activity to go around. On the multifamily side, NMHC is reporting that, despite a 20-basis-point rise in vacancies quarter over quarter, apartment vacancies have dropped 50 basis points year over year, marking “the lowest-third quarter vacancy rate since ... [ Read More ]

RealPage: Apartment Rental Gap Widens

12/9/2016 - Greg Willett says the apartment rental gap is widening nationally. The RealPage chief financial officerexpressed this trend to reporter Paul Bubny in a recent GlobeSt.com story. As Bubny reports, in the largest 100 MSAs, the great divide between the top area rents and the bottom is becoming even greater, and “the most expensive class A product now rents for $1,663 per month on average, basically double the average ... [ Read More ]

ULI: We Are Still a Suburban Nation

12/9/2016 - WASHINGTON, DC--You can put away your notions of how the US population--especially those in the younger echelons--are gravitating to the big cities. While there is some truth to that migration, the Urban Land Institute in its newly released Housing in the Evolving American Suburb reveals that we are still a suburban nation. Among other revelations, ULI finds that, in our 50 largest MSAs, the suburbs still ... [ Read More ]

Black Friday: The New Cyber Monday?

12/5/2016 - WASHINGTON, DC–-As everyone knows, the Monday after Thanksgiving is the traditional Cyber Monday.But, early figures out after this year’s Turkey Day may track a not-really-surprising shift. As Erika Morphy reports on GlobeSt.com:“Never before has the divide between online retail and brick-and-mortar retail sales been as stark as it has this holiday season.” She cites an Adobe report that $5.27 billion went to online purchases this ... [ Read More ]

Criminal History & Tenant Applications

12/2/2016 - CHICAGO--Writer Beth Wanless calls it “one of the hottest stories in real estate of 2016.”The senior manager of government affairs for the Institute of Real Estate Management is referring to HUD’s Office of General Counsel’s guidance on the use of an applicant’s criminal history in the approval or denial of a rental application. In a blog she wrote for the Institute,Wanless reports that, “Much to many property managers’ ... [ Read More ]

The Diversity Imperative

12/1/2016 - NEW YORK CITY--Suzann D. Silverman is making a strong case for a diversified commercial real estate management workplace. Writing on the occasion of the CREW Network Convention &Marketplace, the editor of Commercial Property Executive writes in her Editor’s Note that, “remarkable women that have built that powerful organization geared toward increasing opportunities for women in commercial real estate . . . have greatly expanded the variety of perspectives ... [ Read More ]

Top 10 Sustainability Ideas

11/30/2016 - ATLANTA--The Industrial Asset Management Council has developed 100 top ideas to improve sustainability. And while the ideas offered on its web page are geared for real estate professionals focused on industrial assets, the tips, divided into strategic and tactical categories, are pretty universally applicable. Here is a sampling: First, in the tactical category, IAMC’s recommendations include making sure you have the approval and support of ... [ Read More ]

The Mixed Bag of a Trump Presidency

11/18/2016 - CALABASAS, CA--That’s a question that is, for very good reason, on everyone’s mind in the industry. In a special report, Marcus & Millichap sees a mixed bag of outcomes in the months ahead. It is important to note here that the report focuses on industry issues and none of the more controversial social issues associated with the campaign. Here are just some highlights from “Special ... [ Read More ]

Lame Duck Congress Has Work to Do

11/17/2016 - WASHINGTON, DC--The National Multifamily Housing Council is holding the webbed feet of this lame-duck Congress to the fire. NMHC is reporting that there is work still to be done, much of which directly impacts the real estate community. “These potentially include the reauthorization of the EB-5 program,” which would impact investment by foreigners. But also on the docket are such issues as HUD program funding and the ... [ Read More ]

How to Get Yourself Promoted

11/16/2016 - Writing in the Harvard Business Review, Sabina Nawaz has some interesting advice for people who want to move up the corporate ladder: In her article, “To Get Promoted, Get Feedback From Your Critics,” she advocates for what she calls a personal board of directors. She envisions the personal board as a group of “six to eight people you select to help with your professional development—individuals who can help ... [ Read More ]

Are Home Sales Bad for Apartments? No, Says One Researcher

11/15/2016 - CARROLLTON, TX--Multifamily investors, owners, managers and developers can relax about the traditional tug-of-war between home sales and the apartment sector.That was the message that appeared in a recent story appearing on GlobeSt.com, written by Jay Parsons, vice president of MPF Research. In it, he provided myths about the two sectors that he says get perpetuated in almost every news story and industry conference. Here are some of the ... [ Read More ]

Real Estate Job Openings Show Lackluster Interest

11/10/2016 - NEW YORK CITY--We’ve heard for years how the real estate industry has to do a better job of promoting itself to job-seekers. That warning is apparently no less true today as the recent Job Barometer report from SelectLeaders bears out. As GlobeSt.com reports, “Applications to commercial real estate openings beginning in 2015 have fallen dramatically to lows last seen in—you guessed it—2007.” The resulting demand-supply gap ... [ Read More ]

The Suburbs Are Not Dead!

11/9/2016 - WASHINGTON, DC--The newly released Emerging Trends 2017 has good news for managers and owners who have typically plied their trades outside of the major CBDs: There is life in the suburbs. Crediting “Housing in the Evolving American Suburb,” from RCLCO and the ULI Terwilliger Center for Housing, the annual publication of PwC and the Urban Land Institute notes, not surprisingly of course, that there are major differences not ... [ Read More ]

Yelp Helps New Restaurant Concepts

11/8/2016 - CALABASAS, CA--Have you used Yelp to gauge a restaurant’s appeal? Apparently many do as the most recent Retail Spotlight report from Marcus & Millichap reveals. Such social media applications--along with a shift in consumer taste--are “driving rapid change in the restaurant sector,” says the report. Yelp and other sites, such as Urbanspoon, are driving consumers to the best-reviewed venues and creating buzz for eateries that offer “menu differentiation, ... [ Read More ]

Industrial Leads as Best Investment Bet; Apartments a Near Second

11/7/2016 - NEW YORK CITY--The industrial real estate sector comes out on top in a recent ranking by PwC and the Urban Land Institute, reports Commercial Property Executive. So the two firms state in Emerging Trends in Real Estate 2017. The annual work rated industrial on top for development and investment owing to “strong demand drivers, restrained construction and lower perceived risk,” according to CPE writer Dees Stribling. ... [ Read More ]

Driverless Tech Goes Commercial

11/4/2016 - COLORADO SPRINGS, CO--The first commercial use of driverless technology ended here last week as a Budweiser tractor-trailer delivered 2,000 cases of Bud after a journey of 120 miles from Fort Collins. The implications for all real estate food groups is huge. But here are the facts: The shipment was valued at $470, according to Forbes, noting that it was comparable to traditional delivery costs. ... [ Read More ]

Developers Find New Pastures Outside of Luxury Homes

11/2/2016 - CALABASAS, CA--Single-home developers, sated for years now on luxury homes, are at last turning to a largely underserved clientele--first-time homebuyers.A new research brief from Marcus & Millichap reveals that luxury homes have been a focus since the end of the recession, as “buyers of these homes faced fewer credit restraints and remained active in the market while first-time homebuyer activity weakened” in the face of low inventory ... [ Read More ]

Answering the Drone Question

11/1/2016 - SAN DIEGO—“Reduced risk, lower costs and better data.” Those were just some of the benefits of drones as a property-examination tool, said Osprey Assessments’Gordon Dowrey at the recent Fall Conference of the Institute of Real Estate Management. As GlobeSt.com writer Carrie Rossenfeld reported, there are “300,000 drones registered with theFAAas of January and an expected 90 billion by 2025.” In addition, “Property managers who use drone technology ... [ Read More ]

Landlord Protection in ADA Lawsuits

10/21/2016 - WASHINGTON, DC--The Americans with Disabilities Act took another leap forward recently as the National Multifamily Housing Council and National Apartment Association threw their support behind legislation that would deter “costly, frivolous lawsuits against property owners.” According to news from NMHC, Senator Jeff Flake (R-AZ) introduced a companion measure to a House bill intent on “amending the ADA while still upholding the Act’s vital objectives. Ultimately, the ... [ Read More ]

Airbnb: What, Me Worry?

10/20/2016 - NEWPORT BEACH, CA—So, after all is said and done, what is the real threat of Airbnb to the hospitality industry? According to a new report from GlobeSt.com, probably not much. As writer Paul Bubny points out, the home-sharing site was recently valued at $30 billion, “roughly on par with Marriott International and Hilton Worldwide.” But there’s clearly an asterisk there. Green Street advisors has just put out ... [ Read More ]

The Secret to Property Management Success

10/17/2016 - SAN DIEGO--Incoming IREM president Mike Lanning spoke recently with Carrie Rossenfeld of GlobeSt.com on many of the issues critical to a full understanding of property management. Lanning, who is senior vice president and asset services leader of the Kansas City, MO market for Cushman & Wakefield, discussed how to select a property manager. In so doing, he touched on the fiscal responsibility property managers have to their ... [ Read More ]

Women Still Struggle in the Workplace

10/13/2016 - NEW YORK CITY--This might be a country where a woman might soon be president, but for most women in the workplace, a glass ceiling still exists. As the Wall Street Journal reports, a new study reveals that the topic of advancement is very different from gender to gender, and “corporate careers come in two flavors: his and hers.”The study, conducted by McKinsey & Co. and LeanIn.org, shows ... [ Read More ]

Four Truths About Commercial Real Estate

10/12/2016 - CHICAGO--The Institute of Real Estate Management has just come out with its second edition of Managing and Leasing Commercial Properties, and in a recent blog, IREM highlighted four truths about the market, excerpted from the book. The truths are important because, while they seem self-evident, they are so easy to forget. TRUTH 1:Real estate will always be cyclical, and managers must be able to manage through change. The ... [ Read More ]

The Good and the Bad About Lower Oil Prices

10/11/2016 - CHICAGO--Don’t you just love the lower prices at the gas pumps? Believe it or not, such good news has a deleterious effect on certain office markets, as a newly released report from Commercial Property Executive points out. Quoting a Cushman & Wakefield report, Oil: the Commodity We Love to Hate, writer Gail Kalinoski says that prices will continue to stay low, below the $60-per-barrel mark, through the end of ... [ Read More ]

Up With the Suburbs

10/10/2016 - NEW YORK CITY--Development is strong in the major gateway cities. A recently published article in the National Real Estate Investor suggests that, for this reason, maybe it is time for the suburbs to shine. "There are many markets out there that are late-recovery plays offering significant rent upside and limited risk from new construction," said Walter Page, director of office research for CoStar Portfolio Strategy, during a ... [ Read More ]

White House Removes Local Barriers to Affordable Housing Development

10/4/2016 - WASHINGTON, DC--A joint statement from the National Multifamily Housing Council and the National Apartment Association reveals that the Obama Administration has released its Housing Development Toolkit, an initiative to “encourage local governments to remove barriers to the development of apartment homes and increase overall housing affordability.” According to the statement, the Toolkit would “overhaul antiquated land-use policies and bring in more ... [ Read More ]

Addressing the Ongoing Threat of Cyber Attack

9/29/2016 - NEW YORK CITY--Cyber Security is very much in the headlines these days, owing not just to the presidential debate but equally to apparent missteps taken by some of the biggest corporate retail brands in the US.The issue was addressed this week at the second annual ALM CyberSecure conference here. As Rayna Katz reported in GlobeSt.com, major US retailers entrusted with customers’ private information are falling down on the ... [ Read More ]

Nine Keys to Building Security

9/28/2016 - CHICAGO--Especially in this time of heightened threat, building security is more important than ever. But security is also an interactive process, involving the diligence not only of the property manager, but the tenant as well, as this article from Buildings Magazine, reprinted recently by The Institute of Real Estate Management illustrates. And given the times, there seems to be a shift in the way management approaches security. Traditionally, ... [ Read More ]

Violence Against Women, Rural Rental Help: Key Issues on Capitol Hill

9/23/2016 - WASHINGTON, DC--Violence against women and plans to re-amortize properties to retain rural rental assistance. These were only two of the many issues impacting real estate owners and managers of federally assisted properties that IREM’s Federal Housing Advisory Board brought to Capitol Hill recently. Among the members of the board was EBMC president Stephen L. Burger as the team met with a number of key agency officials. With Bryan ... [ Read More ]

Fewer Home-Poor Families

9/22/2016 - NEW YORK CITY--The Wall Street Journal reports that that US housing affordability--both on the ownership and rental side--is starting to rise. According to Jed Kolko, chief economist at job-site Indeed and senior fellow at the Terner Center for Housing Innovation at the University of California, Berkeley, just under 50% of renters were “cost-burdened in 2015, meaning they spent more than 30% of their incomes in rent,” ... [ Read More ]

Pushing Too Hard Will Cost Managers

9/21/2016 - SINGAPORE--How are you as a manager? Do you feel effective in inspiring your teams to go above and beyond? You might be kidding yourself. Two new studies may put the lie to what a recent article in the Harvard Business Review calls “soft coercion.” The article was co-written by Kai Chi Yam Yam, assistant professor of management and organization at the National University of Singapore; Anthony C. Klotz, ... [ Read More ]

Charging On

9/19/2016 - CHICAGO--The Institute of Real Estate Management reports in a recent blog that sales of plug-in electric cars has hit half a million. The implications here are clear for building managers: charging stations. Blogger (and IREM digital strategist) Karen Kazmierczak notes that “The Tesla Model 3 alone had 400,000 pre-salesin less than 21 days in April of this year. Nissan, Audi, Volvo, Volkswagen, Hyundai, Kia and Ford all have ... [ Read More ]

The Good—But Not Great--News of Commercial Real Estate

9/16/2016 - WASHINGTON, DC—The National Association of Realtors seems pretty optimistic about the state of the industry, citing both a slow but steadily improving labor market and strong demand in multifamily. The group, in its quarterly real estate forecast, is predicting an upward trajectory through the next year. As we have stated before, we take with grain of salt long-range predictions, but such forecasts also serve as a good ... [ Read More ]

The Challenge of Airbnb

9/13/2016 - Online rental service Airbnb has taken off in recent years.But as a recent article in GlobeSt.com reveals, there are pitfalls for the unwary building owner. Quoting Greg Offner of the Graham Co., GlobeSt.com reports that while the great majority of Airbnb transactions go off seamlessly, there have been what Offner calls “horror stories,” and while we won’t repeat them here they are of the variety one would expect ... [ Read More ]

Gallup Tracks Poor Management Choices

9/9/2016 - WASHINGTON, DC--While our focus tends to be on property management, there’s disturbing news of another management type--management within an organization--coming from pollster Gallup Inc. While one of the most important company decisions senior executives can make is who they will tap to manage, “companies fail to choose the right candidate 82 percent of the time.” In fact, says the firm, only one in 10 people are fit to manage. ... [ Read More ]

Office Growth: Slow & Steady

9/7/2016 - CALABASAS, CA--We’ve all heard by now that, according to the US Bureau of Labor Statistics, nonfarm jobs grew by 151,000 in August. The fairly steady growth of the labor markets can only bode well for the office sector of commercial real estate, and Marcus & Millichap’s summer Office Outlook report bears that out. “Contributions to total employment have been broad-based this year, with growth in healthcare, ... [ Read More ]

Creating Inclusionary Housing

9/6/2016 - WASHINGTON, DC--According to the Washington, DC-based Urban Land Institute, one in four working renters--and 16% of working homeowners--pay more than half their income for housing. In a recently published study, The Economics of Inclusionary Development, ULI points out that exorbitant housing costs are bad not only for families but equally for local businesses and competition. “They make it harder for companies to attract and retain workers or ... [ Read More ]

E-Retail Growing, But Surprisingly Small

9/2/2016 - NEW YORK CITY--We’ve all heard the impact computerized shopping has had on the traditional brick-and-mortar retail market. But given the press it receives, readers might be surprised to learn that e-commerce makes up only 8.7% of the total retail picture. So says a new report from Commercial Property Executive. But that is still a sizeable chunk of change, and writer Dees Stribling reports that that 8.7% actually represents $1.9 ... [ Read More ]

Once Again, Multifamily Leads the Way

8/31/2016 - NEW YORK CITY--In yet another testimony to the power of the apartment market, the sector is Fitch Ratings’ leading real estate food group in year-over-year NOI increases. So reports GlobeSt.com. In fact, says writer Paul Bubny, while all property types saw increases, apartments led the pack with a 5.4% jump in NOI growth for 2015. This compares with 2014’s 3.8%. And the upside is expected to ... [ Read More ]

Economy Still a Good-News, Bad-News Picture

8/29/2016 - HOUSTON--There’s mixed news in the economic picture as we enter the downside of Q3. Since we all work under the umbrella of the global economic picture, it should be said that the UK’s June decision to exit from the European Union has generally been a positive for the US, and Transwestern reports the resultant flight to capital-market safety has driven down ... [ Read More ]

Best Places to Live in the US

8/25/2016 - NEW YORK CITY--Where in the country would you prefer to live? A new report from the National Real Estate Investor provides guidance on that question in its list of the Top 10 Best--and Worst--Cities in which to live. First the good news. Writer Ryan W. Neal of Wealthmanagement.com reports that the cities were ranked on the basis of 12 factors, including jobs, housing, lifestyle and safety. ... [ Read More ]

How Do Local Real Estate Assets Stack Up?

8/24/2016 - WASHINGTON, DC--The Building Owners and Managers Association International has released its annual Office Experience Exchange Report, in association with research firm Kingsley Associates. This is the 96th running of the report, which essentially provides a national benchmark against which the performance of local buildings can be measured. As BOMA points out, “Data from these interactive online reports offer critical ... [ Read More ]

Millennials Reshape US Communities

8/19/2016 - TORONTO--So says Avison Young in a newly released report, Millennials and Re-urbanization of the City. In a tug of war between the much-touted 18-to-36-year-old cohort and Baby Boomers, AY indicates that Millennials would clearly win. The firm cites Census Bureau statistics putting the younger population at 75.4 million, as opposed to Boomers’ 74.9 million. So clearly, where they choose to live is a major consideration for the ... [ Read More ]

Renters Who Can . . . But Won’t . . . Buy a Home

8/17/2016 - SEATTLE—Well, here’s a twist on the rent-vs-home debate: Renters who can afford to buy a home, but simply won’t. GlobeSt.com reports that according to real estate website Zillow, there are “high percentages of renters who could afford to buy.” According to writer Paul Bubny, a new Zillow study, “cited San Jose, San Diego and San Francisco as metropolitan areas with the largest segments of on-market renters with credit ... [ Read More ]

Autonomous Cars Crash Into Traditional Real Estate

8/11/2016 - WASHNGTON, DC--An article recently published on the website of the Urban Land Institute tallies the impact the much-touted driverless cars will have on the commercial real estate industry.One of the most obvious examples will be in the infrastructure of our cities. According to writers Terence O’Connell and Wes Guckert, autonomous vehicles will dramatically reduce the amount of space dedicated to parking. “Roads, highways, and parking consume ... [ Read More ]

The Winning Number Is: 255,000

8/10/2016 - The Bureau of Labor Statistics revealed its July employment numbers and clearly there is no mid-summer slump--and no reactive panic to low stats as we saw two months ago. Some 255,000 non-farm jobs were added to the economy last month, reports BLS, even though these additions failed to move the needle on the unemployment rate, which happily remains at a very low 4.9%. ... [ Read More ]

Construction Numbers Could be Deceiving

8/9/2016 - NEW YORK CITY--In this month’s construction-performance numbers lies a great example of what happens if we look too closely at stats. Given the rather cloudy economic picture, the fact that construction activity was down in June could be troublesome. In fact, as Commercial Property Executive reports today, the Bureau of Labor Statistics numbers show nonresidential construction down 1.3%, not horrible by any measure. In annualized dollar ... [ Read More ]

Building for Boomers . . . a New Trend?

8/8/2016 - HOUSTON-With all the hype Millennials are getting, it’s refreshing to see a focus on the needs of a now largely overlooked generation . . . the Baby Boomer. As locally based Transwestern Development Co. reports in the latest issue of its Insights Online Magazine, “Astute developers are targeting that rental demographic,” and producing communities “that are as different from traditional multifamily assets as Baby Boomers ... [ Read More ]

As Home Sales Increase, Shrinking Inventory Drives Rentals

8/3/2016 - CALABASAS, CA--Clearly what’s good for the goose is good for the gander, as Marcus & Millichap’s latest research blog proves. The goose in this case happens to be private home sales, feeding the gander of multifamily rentals. “A modest advance in sales activity during the month of May put additional strain on for-sale inventory as the single-family housing market seems to remain caught in a loop that ... [ Read More ]

Slowdown Expectation Grows More Clear

8/2/2016 - CHICAGO--“We feel better being a little more conservative.” So Bill Maher characterized his firm’s investment outlook to GlobeSt.com’s Paul Bubny. Maher heads LaSalle Investment Management’s Americas research team, and his comments mark the release of its Mid-Year Investment Strategy Annual. Post-Brexit and the January stock market upheaval, Maher says the firm has “dialed back” its growth forecast through 2017 and feels more comfortable in a conservative zone as ... [ Read More ]

Does Tech Threaten Classic Property Management?

7/28/2016 - CHICAGO--Can technology de-personalize the highly personal property management business? Chris Mellen, 2016 president of the Institute of Real Estate Management, tackled that very question in his recent column for the National Real Estate Investor. Obviously, as he points out, tech is changing virtually every phase of our lives. “But property managers face a specific challenge in terms of dealing with that reality in that the practice of management ... [ Read More ]

Does GSE Reform Need Reform?

7/22/2016 - WASHINGTON, DC--That seemed to be the question on the minds of Doug Bibby and Bob DeWitt, president and chair, respectively, of the National Multifamily Housing Council. They asked that question in a paper that was part of the Urban Institute’s Housing Finance Reform Incubator. In closing remarks that summarized their essay, Bibby and DeWitt focused on Fannie Mae and Freddie Mac, and praised the government-sponsored enterprises ... [ Read More ]

Do You Have a Succession Plan?

7/20/2016 - CHICAGO--Even though JPM is the official publication of the institute of Real Estate Management, its latest issue raises a question pertinent to every company in the US: the question of proper succession planning. The issue is one that speaks to organization, planning and continuity, and there are some sobering statistics surrounding the process.Taking real estate firms as the example, consultant Christopher Lee, president and CEO of ... [ Read More ]

Hurray for the USA: Standing Alone in Cultural Diversity

7/19/2016 - WASHINGTON, DC--A rather surprising report from the Washington, DC-based Pew Research Center puts the US first--in fact, alone--among nations embracing cultural diversity. According to writers Bruce Drake and Jacob Poushter, most European countries fail to embrace growing diversity as a cultural positive. In fact, they write, “The most common view among the 10 European countries surveyed is that cultural diversity is neither a plus nor a minus ... [ Read More ]

Handling the News in the Workplace

7/18/2016 - CHICAGO--Blogging on the website of the Institute of Real Estate Management, Mindy Wallis writes that, while managing a diverse workforce is always a challenge, in times of trauma, it becomes an even more critical issue. “Too often these days,” she writes, “it seems that we wake up to another tragedy in the news. While we feel for the victims, we also feel helpless and frustrated. ... [ Read More ]

It’s Official: Multifamily Leads Housing Surge

7/11/2016 - WASHINGTON, DC--We’ve all grown accustomed (presumably) to the slow-growth nature of the current economy.But slow growth is still growth, and the Harvard Joint Center for Housing Studies, in its State of the Nation’s Housing 2016, officially declares the housing slump over. Not surprisingly, according to a report from the National Multifamily Housing Council, the multifamily sector leads the charge. “Demographics were the biggest contributing factor to ... [ Read More ]

Study Reveals the Power of Commercial Real Estate

7/11/2016 - WASHINGTON, DC--Commercial office building operations last year contributed $235 billion to the national gross domestic product. That is the key takeaway from the Building Owners & Managers Association International in its bi-annual research report, Where America Goes to Work, The Contributions of Office Building Operations to the Economy 2016. The study measures the 10.5 million square feet of office buildings within BOMA’s 91 local associations, and ... [ Read More ]

“TERM LEASE” ALTERNATIVE

7/5/2016 - BY BILL JOHNSTON, CPM, CCIM Published in the Institute of Real Estate Management (IREM) Journal of Property Management (JPM) magazine, July/August 2016 Whenever I assume responsibility for a multifamily property, one of the first things I look at is the lease structure of the units. In many cases, I find that they are, most of the time, set up on term leases. But does ... [ Read More ]

Critical Choices for Corporate Occupiers

6/29/2016 - HOUSTON--This year, the Financial Accounting Standards Board served up new standards intended to improve financial reporting on lease transactions. According to Mike McLain, chief accounting officer for Transwestern, these new changes “introduce a multitude of scenarios to consider as lease contracts assume a more material role” in corporate finance. In a statement, McLain outlined the impact of these scenarios for both occupiers and owners, stating that: ... [ Read More ]

HUD Takes Lead on Lead-Elimination

6/22/2016 - WASHINGTON, DC--The US Department of Housing & Urban Development is getting more aggressive on the control of lead hazards in apartments. According to the National Multifamily Housing Council, HUD secretary Julian Castro has awarded $46.5 million in grants “to 15 communities for the purposes of eliminating lead and other safety hazards in 3,100 low-income homes.” This, according to NMHC, is part of a comprehensive lead-control plan that incorporates ... [ Read More ]

NAIOP: Office Demand Will Soften

6/17/2016 - HERNDON, VA--GlobeSt.com is reporting this morning an expected slowdown in office demand, projections courtesy of the National Association of Industrial & Office Properties. In the article Paul Bubny reports that this year’s expected absorption of 34.6 million square feet is down nearly half from last year’s more robust 62.1 million feet. The slightly good news is that activity is expected to regain some--just some--ground next year, ... [ Read More ]

The Interest Rate-Hike Guessing Game

6/13/2016 - WASHINGTON, DC--Writing for Commercial Property Executive, Dees Stribling calls guessing the next move of the Federal Reserve a “mug’s game.”Nevertheless, he points out, that isn’t stopping “economist, pundits and bloggers” from predicting what will happen this month with interest rates. Common wisdom in the days after a dismal monthly jobs report is that there will be no rate hike. (You’ll recall that the Bureau of Labor Statistics ... [ Read More ]

Harvard Study: Multifamily is Hot

6/10/2016 - CAMBRIDGE, MA--Multifamily is hot. That’s the upshot of a recent study produced by Harvard University’s Joint Center for Housing Studies. According to the study, over the past 10 years, from 2005 to 2015, the share of US households that rent rose from 31 to 37%, the highest level since the 1960s. A total of 43 million families currently live in rental housing. Why? A number of ... [ Read More ]

Millennials Choose Mommy & Daddy

6/8/2016 - WASHINGTON, DC--Where does the Millennial generation call home? Their parents’ house, according to research from the Pew Research Center. A new analysis of the most recent Census data reveals that in 2014, for the first time in 130 years, adults of ages 18 to 34 were more likely to be living with their parents than with a partner or spouse on their own. “This turn of ... [ Read More ]

The Cost of Saving Money

6/6/2016 - WASHINGTON, DC--Tenants trying to squeeze more workers into less space may find there are some surprising soft costs in this otherwise capital-saving approach to leasing. This is just one of the takeaways from a recently released White Paper from the Building Owners & Managers Association International. (Click here for the White Paper.) “Decoding Densification, Insights and Opportunities for CRE Professionals,” by Phil Mobley, a principal at Koine ... [ Read More ]

The Sustainability Imperative

6/2/2016 - NEW YORK CITY--Writing for the National Real Estate Investor, IREM 2016 president Chris Mellen makes a reasoned argument for sustainability . . . . well beyond the “feel-good” decision to do the right thing. http://nreionline.com/property-management/sustainability-imperative Chris quotes Todd Feist, IREM’s sustainability program manager, who put it best in a recent presentation before our Georgia chapter: “When it first came about, we had this skepticism that there was a cost-savings ... [ Read More ]

GDP: Onward and Upward--Slowly

5/31/2016 - WASHINGTON, DC--Commercial Property Executive is reporting an upward tick in the GDP. https://www.cpexecutive.com/post/economy-watch-gdp-growth-revised-upward/ In an article written by reporter Dees Stribling. CPE says the Bureau of Economic Analysis has upped the GDP growth by a whopping 0.3%, from 0.5 to 0.8%. As Stribling writes, “The second real GDP estimate is based on more complete source data than were available for the advance (first) estimate issued last month. Overall, ... [ Read More ]

Retail Alive & Well at RECon 2016

5/26/2016 - LAS VEGAS--To go by the numbers, the recent RECon retail conference here was a success. Some 36,000 attendees showed up at the Las Vegas Convention Center along with more than 900 exhibitors ranging from real estate REITs and brokerages to such shopping brands as Chipotle, 7-Eleven and Starbucks. According to Tom McGee, president and CEO of The International Council of Shopping Centers, the host of RECon, the attendance ... [ Read More ]

Q1 Underscores ‘Bifurcated’ Commercial Market

5/20/2016 - WASHINTON, DC-The ups and downs of a tumultuous first quarter stand in high relief in the National Association of Realtors’ newly issued report, “Commercial Real Estate Outlook: 2016.Q2” As the report tracks, the first quarter was a rocky one, “as global economic activity throttled back and companies found financial markets’ volatility unsettling.” Soft consumer spending and an equally soft corporate investment outlook seemed to mark the first ... [ Read More ]

Drones Gain as Management Tool

5/16/2016 - CHICAGO—Andrew Lomo, government affairs liaison for IREM, praises the FAA’s recent ruling on the commercial use of drones in a recent blog posted on the Institute’s website. http://irem.org/resources/irem-blog/irem-blogs-blog/2016/05/drones-at-night In late April, Lomo writes, “the FAA approved night flights for a commercial drone for the first time, after 16 months of deliberation and administrative proceedings. Until this decision, the FAA prohibited all drone flights between sunset and sunrise. While this ... [ Read More ]

C&W: Slump? What Slump?

5/13/2016 - NEW YORK CITY--Talk of an economic downturn might be greatly exaggerated.So says Cushman & Wakefield, which in its recently released US Macro Forecast, paints a fairly rosy picture for the months ahead. Nevertheless, in a market still roiled by mixed signals, the good economic news may not translate dollar-for-dollar to the office leasing market. A first-quarter slowdown in investment sales and leasing were the result of fears ... [ Read More ]

Industry Commits to Building Resilience

5/13/2016 - WASHINGTON, DC--Nearly 40 design and construction associations, representing no fewer than 1.7 million industry professionals, have joined together to take a stand on building resiliency.In a recently released statement, “Preparing to Thrive: The Building Industry Statement on Resilience,” this blended group is dedicating itself to the ability of our built environment to withstand a variety of natural and human-made threats. “We recognize that natural and manmade hazards ... [ Read More ]

Apartment Conditions Hold Steady in April

5/11/2016 - WASHINGTON, DC--According to the most recent quarterly survey of apartment market conditions produced by the National Multifamily Housing Council, the market is softening, but only a bit. Of the 120 CEOs and other senior executives of apartment-related firms who responded to this quarter’s survey, 51% report that conditions are pretty much status quo with Q1. This is down slightly, however, from the 56% who reported the ... [ Read More ]

2016 Commercial Real Estate Outlook

2/25/2016 - NAR’s latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets. Highlights The National Association of REALTORS® Commercial Real Estate Outlook: 2016.Q1 report focuses on market performance in both large (LCRE) and small commercial (SCRE) sectors. The report provides an overview of economic indicators, investment sales and ... [ Read More ]

The Bottom Line on Relationships

9/9/2015 - An article by Lori Burger as published on NREI. The family-run company I work for was founded in 1968. The founder, my father-in-law, is now 81 years old but continues to be a vital force in both the company and the industry. In addition to the steady, daily hand he keeps on the tiller of the firm, he ... [ Read More ]

Property Managers Take On More of an Asset Manager’s Role By Lori Burger

8/27/2015 -  Property Managers Take On More of an Asset Manager’s Role.An Article published by NREI National Real Estate Investor.   There's a subtle but definite shift taking place in the real estate industry. New demands and new technologies are coming together to advance the role of the property manager. Traditionally assumed to be a day-to-day role with little to ... [ Read More ]

Does Your Buisness Model Include Professionalism - By Lori Burger

8/21/2015 -  Does Your Business Model Include Professionalism?An Article published by NREI National Real Estate Investor ... [ Read More ]

When the Private Sector Meets Public Policy by Lori Burger

6/1/2015 - An article published by NREI National Real Estate Investor.   ... [ Read More ]

Hiring for a New Age By Lori Burger

4/13/2015 -  Hiring for a New AgeAn article published with NREI National Real Estate Investor.     ... [ Read More ]

Eugene Burger Management Corporation named one of NorthBay biz top 500.

3/17/2015 -                               Eugene Burger Management Corporation is proud to announce that we've been acknowledged as one of the top 500 companies in the North Bay by the North Bay Business Journal. EBMC has been located in Northern California since it was established in 1968. It's been a pleasure to have had our company's corporate location in Sonoma County for 10 years and ... [ Read More ]

Toward Cultural Diversity - An article by Lori Burger

3/5/2015 -  Toward Cultural Diversity By Lori Burger - In addition to her role as IREM 2015 president, Lori Burger, CPM, PCAM, CCAM, is senior vice president of Eugene Burger Management Corp. in Rohnert Park, Calif.  Even in the best of circumstances, communication and understanding are risky propositions. So much depends on both parties’ ability to ... [ Read More ]

Installation of 2015 IREM President

2/25/2015 - In October of 2014 Lori Burger, CPM, PCAM, CCAM, Senior Vice President Marketing / Business Development, was officially installed as the 2015 Institute of Real Estate Management (IREM) President. You can see the official press release on the IREM website detailing the events that took place to install all the 2015 officers. Now you can see a glimpse of the event honoring ... [ Read More ]

Before Disaster Strikes - An article by Lori Burger

2/11/2015 - Before Disaster Strikes - an article from NREI  By Lori Burger - In addition to her role as IREM 2015 president, Lori Burger, CPM, PCAM, CCAM, is senior vice president of Eugene Burger Management Corp. in Rohnert Park, Calif.Before disaster strikes: these are three powerful words that every property manager in every asset type around the nation ... [ Read More ]

Revenue Reserve: A documentary featuring IREM President Lori Burger

2/2/2015 - Revenue Reserve is the first commercial real estate focused documentary to explore how the industry's most successful private investors protect & enhance wealth. Directed by expert researcher, film director and financial advisor Doug Orchard, the film features an insider perspective on the unwritten rules of success that have fostered success despite tough economic circumstances. The film is a must see for ... [ Read More ]

Toward Better Leadership - An article by Lori Burger

1/12/2015 - Toward Better Leadership - an article from NREI By Lori Burger - In addition to her role as IREM 2015 president, Lori Burger, CPM, PCAM, CCAM, is senior vice president of Eugene Burger Management Corp. in Rohnert Park, Calif.  When was the last time you were in a Home Depot? Did you ever notice the ... [ Read More ]

 

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