Key TakeawaysNew supply: Approximately 500,000 square feet (compared to 154,000 square feet last quarter) Net absorption: 287,900 square feet (down from 321.8k square feet in Q4), but an improvement from the negative absorption in early 2023. Overall vacancy rate: 22.5% (up slightly from 22.4% in Q4 2023), reflecting continued challenges in the market Asking rent: $41.52/sq ft (down slightly from $43.12/sq ft in Q4 2023) In the first quarter of 2024, Austin's office space market continued to face challenges due to fluctuating leasing activity and an increasing supply of office space. Austin's commercial real estate sector maintains a delicate balance…
Author: Private Lending Agent
Key InsightsWith high institutional ownership, Apollo Commercial Real Estate Finance's share price could be affected by their trading decisions.The top 15 shareholders own 50% of the company. Recent insider sales Investors in Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) should be aware of the most powerful shareholder groups. And the group with the largest shareholding is institutional investors, with 58% ownership. This means that this group stands to gain the most if the share price rises, and lose the most if the share price falls.With vast amounts of capital and research capability at their disposal, institutional ownership tends to carry…
Rapid population growth in the Southeast is driving demand for many types of commercial real estate, including retail space, office buildings and residential developments. This is historic downtown Charleston, South Carolina. (File Photo: Jeffrey Greenberg/Universal Images Group via Getty Images) Every six months, an organization called the Society of Industrial and Office Real Estate (SIOR) meets to share ideas about what's going on across the country. This year's soiree is taking place in Florida and starts today. I'll have more to say about this year's spring conference in next week's column. However, we hadn’t yet seen places like Savannah, Charleston,…
Small business owners continue to struggle in the U.S. economy due to factors outside of their control, but they're still holding out hope that 2024 will be a strong year, according to new figures released by the Federal Reserve. The Federal Reserve said in its latest “Beige Book” survey that economic activity has expanded since the start of the year, with eight of the 12 federal districts experiencing slight to moderate growth. Business sectors such as retail, hospitality and food services saw some cooling in January and February, but overall the U.S. remains on track for a relatively swift economic…
More than 1.8 million U.S. businesses are owned by people with disabilities and a higher percentage of working-age people with disabilities rely on self-employment compared with working-age people without disabilities, according to a National Disability Institute report published in April 2022. Starting and running a business can require significant capital, and finding business loans and grants can be challenging for any entrepreneur, including people with disabilities and other members of underserved communities who often face barriers to financing[0].However, there are business funding options as well as other resources for people with disabilities.We’ll start with a brief questionnaire to better understand…
Shelves at the Nordstrom at Westfield Topanga Mall in Canoga Park were vandalized and merchandise worth an estimated $60,000 to $100,000 was stolen on Saturday, Aug. 12, 2023. (Courtesy of Spectee) As California business owners struggle with rising operating costs, exploitative labor laws, and the highest unemployment rate in the country, they're faced with another challenge straining their budgets: soaring commercial property insurance costs. Business owners are seeing commercial property insurance rates double, triple, and in some extreme cases, increase by as much as 400 percent in Southern California. Why are insurance premiums getting out of control? It's a combination…
Downward angle icon Downward angle icon. Reuters Moody's Mark Zandi said the Fed risks “disturbing” the economy if it delays cutting interest rates. Higher rates increase the chance of recession and bank failures, he warned. “If I were king for a day, I'd really cut rates at this point,” Zandi told Yahoo Finance. Mark Zandi, chief economist at Moody's Analytics, said the Fed would be better off cutting interest rates as soon as possible because there's a risk that parts of the economy will “collapse” if rates don't fall.Zandi warned Yahoo Finance on Thursday about the consequences if the Fed…
Exploring the Frank Church Wilderness of No Return in Idaho Nestled within the rugged landscapes of Idaho lies the Frank Church Wilderness of No Return, a sprawling wilderness area that beckons adventurers and nature enthusiasts alike. Spanning over 2.3 million acres, this untamed wilderness offers a sanctuary for wildlife, a playground for outdoor enthusiasts, and a glimpse into the rich history of the region. In this multipage article, we embark on a journey to uncover the wonders of the Frank Church Wilderness of No Return, delving into its origin, geological history, scenic beauty, and much more. Origin, Location, and Geography…
The commercial real estate industry is facing an unprecedented series of challenges that center around a shift to Work-From-Home (WFH) and Hybrid strategies. Corporate occupiers have instituted WFH and Hybrid schedules to hire talent regardless of where they live, to retain their best employees, and to save money. These series of challenges are compounded by the sky-high interest rates which make refinancing underwater assets and buying/selling new properties (a key component of the primary commercial real estate business model) incredibly difficult, and oftentimes impossible. Some markets across the country are showing signs of improvement, and trophy properties (especially newly constructed ultra-premium…
First quarter GAAP net income (loss) of $(12.3) million or $(0.23) per diluted common share and Distributable Earnings (Loss)(1) of $(33.5) million or $(0.62) per diluted common share- Subsequent to three months ended March 31, 2024 -Declared second quarter 2024 dividend of $0.25 per common shareNEW YORK, May 09, 2024–(BUSINESS WIRE)–Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company engaged in originating and investing in commercial real estate assets, reported generally accepted accounting principles (“GAAP”) net income (loss) of $(12.3) million or $(0.23) per diluted common share and Distributable Earnings (Loss)(1) of $(33.5) million or $(0.62) per…