| Apartment Market Updates |
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With vacancy rates remaining in double digit territory for many areas, communities are continueing to offer concessions which are pushing rental rates lower. Rent sepecials are stimulating demand with absorption numbers improving, however, there has been a cost with economic occupancy being negatively impacted.
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Columbia
Real Data
11-15-2009
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Development activity comes to a near stand still...
Columbia's apartment development boom, which spanned the past three years, has finally come to a stop with only 162 units started in the last six months... Read More |
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Real Data
10-25-2009 |
Strong demand with limited supply growth...
The Tallahassee market recorded its strongest demand in three years which helped the vacancy rate improve to 11.2%. However, the high vacancy rate continues to put downward pressure on rental rates... Read More |
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Greensboro
Real Data
10-20-2009 |
Development activity finally slows down...
Over the past two years developers have built over 4,300 new units which has helped push vacancies to nearly 14%. Fortunately, there are less than 700 units currently underway which should signal the worst is behind us ... Read More |
| Regional News Updates |
National
Commercial Property Executive
10-06-2009 |
Apartment REITs see record jump in returns
While its probably early to label it a full-fledged resurgence, apartment REITs bounced back in a big way last quarter... Read More |
Charleston
Charleston Post and Courrier
10-28-2009 |
Boeing lands in North Charleston
North Charleston will be home to a new Boeing 787 jet assembly plant, ending a hotly sought-after deal that thrusts the state into the front lines of aircraft manufacturing.... Read More |
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National
Bloomberg
11-05-2009
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Congress extends and expands homebuyer tax credit
Congress gave final approval to legislation expanding an $8,000 tax credit for first-time homebuyers, extending unemployment benefits and providing tax refunds to money-losing companies... Read More |
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11-01-2009
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Closures sting but region has not lost manufacturing base
International Paper, Smithfield Foods South Plant and Cooper Vision. Combined, the three shutdowns will cost the region at least 2,300 jobs. Will anything be made anymore in Hampton Roads? Definitely - from power tools to auto parts to Navy warships... Read More |
Orlando
Orlando Business Journal
10-08-2009
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Burnham dedicates Lake Nona medical facility
The Burnham Institute for Medical Research officially dedicated its new 175,000-square-foot scientific facility on Thursday and marked the opening of Orlando’s “medical city” as a life science center.... Read More
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National
Multi-Housing News
10-13-2009
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Investors plan to increase activity in multifamily in 2010
The multifamily market has not escaped the ravages of the economic downturn, but investors are bullish on the commercial real estate sector for 2010. According to Jones Lang LaSalle's 2010 Multifamily Forecast Survey... Read More |
Jacksonville
Jacksonville Business Journal
10-23-2009 |
Jacksonville port to see uptick in military business
Twenty-five percent more military cargo could come through the Port of Jacksonville as the Iraq War winds down and equipment is shipped home, said the commander of the port’s military operations... Read More |
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National Real Estate Investor
11-09-2009 |
Real estate economists parse October job announcements
The October employment report released by the U.S. Bureau of Labor Statistics last Friday reflects a familiar but troubling pattern for a commercial real estate industry desperately seeking green shoots... Read More |
Gainesville
Jacksonville Business Journal
10-23-2009 |
Shands debuts $388M hospital
Shands Health System has unveiled the latest addition to its hospital network: a 192-bed, $388 million cancer tower in Gainesville... Read More |
Charlotte
Charlotte Business Journal
10-30-2009 |
Catalyst condo tower to convert all units to rentals
In a move expected for weeks, the new owner of the 27-story Catalyst has confirmed it will convert the residential tower to apartments due to sluggish condo sales... Read More |
