Manhattan Flex Office Space Growth Explodes, 15 Million Square Feet Added in Last 5 Years

CBRE | September 16, 2019

According to a new report from CBRE, the flexible office space footprint in Manhattan has tripled to 15 million square feet over the last five years as providers offerings have evolved, new players entered the market and new flexible space models have arisen. Manhattan is the largest U.S. flex office market by far, with nearly three times the inventory of Los Angeles, which placed second. Manhattan is also the second-most-penetrated market in the nation, with flexible space accounting for 3.6 percent of total office inventory, trailing only tech-centric San Francisco at 4 percent and far surpassing the national average of 1.8 percent. CBRE indicates that the 10 largest flex markets will continue to increase their flex-office penetration faster than other markets, after growing by 70 percent since 2017, compared to 43 percent in other markets.

Spotlight

Housing affordability challenges are affecting more households and communities than ever before. The implications are profound—for families facing unsustainable costs, for communities confronting shortages of needed workers, and for developers dealing with increased local.

Spotlight

Housing affordability challenges are affecting more households and communities than ever before. The implications are profound—for families facing unsustainable costs, for communities confronting shortages of needed workers, and for developers dealing with increased local.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

Leading Nationwide Property Management Company Launches Property Investment Tool

Real Property Management | December 13, 2022

For intentional property investors, the right property management company can take the guesswork out of generating the best return on investment (ROI). Real Property Management, a Neighborly company, has been offering residential property management services throughout North America for more than 30 years, and recently launched the Wealth Optimizer Tool designed to support property investors looking to optimize their rental property's ROI. Smart property investors use a variety of metrics to analyze real estate investments. These metrics allow for comparing and tracking performance, but with the metrics, there is a balance of understanding real-world variables. Real Property Management's Wealth Optimizer Tool is available to anyone and can help investors determine if a property is a good investment. The free property investment tool provides expert data on a rental property's performance, future capital expenses, helps them analyze the potential of a future purchase and can help analyze the potential of a future purchase. "Our franchise owners have been offering this type of hands-on assistance for analyzing the potential of a rental property for single and multi-property owners for the past five years. We wanted to build an online, user-friendly calculator that allowed rental-property investors to make their own custom adjustments on parameters, With access to advanced reporting in this tool, our streamlined processes and one-on-one intel help investors analyze current and future properties to maximize their rental income while minimizing expenses and inefficiencies." -Jeff Pepperney, president of Real Property Management The interactive report pulls available data on property valuation based on users' specified investment parameters. The tool allows users to view revenue, expenses, equity changes, cap rate, cash flow, gross yield, annualized return, and cash-on-cash return, in addition to some advanced reporting features. A key feature of the Wealth Optimizer Tool is the option to compare up to three properties when considering adding properties to their portfolio. We're always looking to improve our value-add to property owners and provide comprehensive property management with superior service. This includes preserving investors' assets and optimizing their ROI, This tool is one more proof point of our brand promise, offering greater visibility into the performance of rental property portfolios,said Pepperney. Along with helping intentional property investors realize rental property potential through wealth optimization, Real Property Management provides full-service leasing, move-in, and move-out property inspections, property maintenance, management of tenant requests and emergencies, advertising and marketing, tenant screening, accounting, rent collection, legal evictions, and online reporting portals. About Real Property Management®: Real Property Management, a Neighborly® company, is the largest property management franchise in North America, with more than 30 years of industry expertise providing full-service residential property management for thousands of investors and rental homeowners from more than 400 independently owned and operated locations worldwide. Acquired in 2018, Real Property Management is part of Neighborly®, the world's largest home services company with more than 30 brands and 5,000 franchises collectively serving 12 million+ customers in six countries, focused on repairing, maintaining and enhancing homes and businesses.

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MARKET OUTLOOK, REAL ESTATE INVESTMENT

Savills Kicks off Operations in Montreal with High-performing Industrial Team

Savills | January 20, 2023

On January 19, 2023, New York-based real estate company Savills informed that it is increasing its footprint in the North American market by launching a new office in Montreal. Antoine Dumas will take on the role of Associate at the company. Brandon Allen, Erik Charton, Paul Fischlin, and Stéphane Robillard will take on the roles of Executive Vice President at the company, while Robin Blanchard will take on the role of Vice President. Meanwhile, George Manousos will take on the role of Vice President and Agency Executive Officer. The group's main areas of expertise will be industrial leasing, investment sales, and capital markets. Vice Chairman Rick Schuham stated, "Savills has strategically opened locations in key markets throughout Canada, and Montreal was a natural next step for our first location in the province of Quebec." He further added, "We have recruited the market's most seasoned industrial brokerage group to establish our location in Montreal. Bringing together this group of top-producing real estate advisors strengthens our ability to deliver market-ready solutions and services in North America and allows us to expand our geographical coverage into Southeast Canada.” (Source – Cision PR Newswire) Savills benefits from the combined expertise of a workforce that, on average, has been in the sector for twenty years. The team represented clients across the industrial spectrum in 2022, including cold storage, warehousing, ports, airports, global infrastructure, distribution and logistics, flex space, land sales, and research and development. The team brokered over $800 million in real estate transactions across Canada. It provides a diverse selection of real estate services, such as tenant representation, landlord and vendor representation, built-to-suit advice, and investment sales. Gregg Healy, Head of Savills Industrial Services, stated, "The industrial sector in Montreal has remained resilient post-pandemic, with strong investment sales and leasing velocity." "Montreal has a rich mix of industries, including life sciences, financial services, manufacturing, transportation, technology, and healthcare, that have continued to invest heavily in establishing operations in the market. We look forward to tapping into the new team's expertise to drive growth for industrial services throughout Canada," he concluded. (Source – Cision PR Newswire) About Savills Savills supports businesses in discovering employee success solutions. Its integrated teams of brokers and consultants are real estate experts. The company's tenant advocacy, capital markets, project management, labor and incentives strategy, workplace design, and occupant experience have improved local and global workplaces for 160 years. The company is owned by Savills plc, which has over 35,000 specialists and 700 offices globally.

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REAL ESTATE INVESTMENT,MORTGAGE AND LENDING

Hallmark Home Mortgage Accelerates Strategic Expansion

Hallmark Home Mortgage | November 07, 2022

Hallmark Home Mortgage, a Fort Wayne, Indiana-based independent residential mortgage lender, has completed the acquisition of a well-established team of mortgage bankers. The move will expand its residential lending services to include Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas; representing a strategic milestone for the organization. "I am pleased to welcome this talented team of more than 60 mortgage professionals, Hallmark is now positioned to become one of the nation's top 100 residential mortgage lenders. This increased productivity will create new employment opportunities at the corporate headquarters in Fort Wayne." -Deborah Sturges Chief Executive Officer and Founder at Hallmark Home Mortgage This is a tremendous opportunity, The team brings a strong lending and scalable presence in their current markets and shares the same passion as Hallmark for delivering a superior customer experience,noted Hallmark Home Mortgage Executive Vice President/Division Manager Mark Etchison. Marc Wadman will continue to direct the newly acquired team as Senior Vice President/Regional Manager. Hallmark is known for its continued strong leadership and team support within the mortgage industry, It became evident after discussions with the Hallmark executive leadership team that this was the ideal fit for our associates and clients,Wadman added. With rising inflation and mortgage rates climbing, workforce capacity has had to be adjusted for many mortgage lenders. Hallmark, however, continues to successfully execute against its strategic growth plan by focusing on its Realtors®, referral partners and past clients. About Hallmark Home Mortgage Fort Wayne, Indiana-based Hallmark Home Mortgage was founded in 2007 by Deborah Sturges. Driven by her strong passion for providing home finance solutions backed by a tradition of service, the company continues to impact the communities and the employees it serves. Whether a first-time home buyer or experienced homeowner, Hallmark offers the perfect combination of digital technology and human touch to ensure that every customer experience is tailored to fit their individual needs.

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