Overall commercial property/casualty insurance premiums for the first quarter of 2024 increased slightly across all account sizes, averaging 7.7%. According to the Insurance Agents & Brokers Association's first quarter market study, the average increase in the first quarter of 2023 was 7.7%, compared with 7% in the fourth quarter, marking the 26th consecutive quarter of increases, although there were signs of a slowdown in premium increases across individual lines of business. Each line was at or below the previous quarter's level, with the exception of commercial auto, where premiums increased an average of 9.8% compared to 7.3% in the previous…
Author: Private Lending Agent
Eric Sherman May 20, 2024 6:40 AM The big mortgage REITs are shrinking their portfolios. In CRE lending, depository banks are reportedly scaling back lending out of concern that falling real estate values will affect loan amounts, straining banks' assets and creating regulatory risks. But Trepp says it's not just a bank problem. The loan portfolios of the big mortgage REITs have shrunk by a combined nearly 11% over the past year, with most of them drastically reducing lending and turning to troubled loans. That's because mortgage REITs typically lend at variable rates and relatively short-term loans that are intended…
U.S. office vacancy rates rose to 17.5% at the end of the first quarter of 2024, a post-COVID-19 high. This is the second consecutive quarter that the vacancy rate has exceeded 17.0% and represents a 40 basis point increase from the end-2023 vacancy rate. A year ago, the vacancy rate was 16.2%. The Class A vacancy rate was 20.4%, up 130 basis points over the past year.More than 20 million square feet was returned to the market in the first quarter, split almost evenly between Class A and Class B. However, net absorption in the quarter was not as low…
Steven Denholtz receives Charles Kratoskin Lifetime Achievement Award from NAIOP NJ May 17, 2024 Denholtz Properties is pleased to announce that NAIOP NJ, the leading organization for developers, owners and related professionals of office, industrial and mixed-use real estate in New Jersey, has presented CEO Steven Denholtz with the Charles Klatskin Lifetime Achievement Award during the organization's 37th annual Commercial Real Estate Awards Ceremony held May 16 at The Palace at Somerset Park. The annual NAIOP Commercial Real Estate Awards recognize the brightest stars in the state's dynamic and competitive commercial real estate industry, while the Charles Kratoskin Lifetime Achievement…
Hi. I’m Leah College, the Director of Real Wealth Realty. Investing in real estate can be kind of intimidating. I’ve said before, I think the reason more people aren’t doing this strategy is because there’s a huge learning curve and it can be kind of intimidating to get started.At RealWealth we streamline the process of real estate investing, helping people through this process, and navigating what it’s like to buy property out of state for the very first time.In today’s presentation, I’m going to break it down for you step by step and go over a great resource that RealWealth…
Every year on the second Thursday of May, the Keller Williams headquarters in Austin, Texas, falls silent, as do KW market centers across the country and around the world. Instead of turning on their work computers, thousands of KW associates pull on their work boots and gloves to start the day. From Canada to Paraguay, Spain to Japan, it's a day to get out of the office and into our communities with RED (Renew, Energize, Donate). A tradition since 2009, RED Day is an opportunity for KW Market Centers to host community-based activities and fundraisers that unite employees behind a…
Imagine this: You buy a shiny new tool that your friends all rave about. It finally arrives, complete with generic instructions to get you started, but you set the tool aside and never give it a try. A month goes by and you haven't used the tool once, because you've forgotten why you bought it in the first place. You end up asking for a refund for your purchase. When your friends ask you why you're returning it, you say that unfortunately you just couldn't find a use for it. In the SaaS technology world, even the best products fail…
Editor’s note: The following article is not intended to be a ranking, but is only to serve as a list of possible options. As the saying goes, your mileage may vary.Drones are no longer just a fun toy for hobbyists. Commercial drone pilot jobs allow you to do what you love and get paid for it. But you’ll still need to capture footage or photographs according to the task the employer assigns to you. Here’s a look at the top commercial drone pilot jobs in the U.S. and some ideas for what to look for in the best opportunities.Quicklook: Commercial Drone…
Major commercial real estate developments in Upstate South Carolina are in various stages of construction. Here we highlight the progress of some notable projects. Story by Meghan Fitzgerald and Tiare Leiana Solis Fifth Third Park 131 W. Main St., Spartanburg In April 2024, the Spartanburg City Council voted to approve design plans for a future development centered around a new minor league baseball stadium. The $425 million development will be built on the west side of downtown Spartanburg along West Henry and West Main streets. Fifth Third Park will be the new home of the current Downeast Wood Ducks, who…
There are reports of a slowdown in technology hiring. How will this impact commercial real estate? Chris Liddell | SVP | CBRE The north end of Utah County is awash with technology. Technology thrives on cheap capital and it's getting more and more expensive. In the last 18 months, 31 new buildings have been built in Utah County. Most of them are vacant. Once interest rates come down and expectations are reset, some of the buildings may fill up. In Utah County, the growth of large spaces is a real weakness in our market. Jeff Rossi | Executive Managing Director…