Office Vacancy Rates Hold Steady at 9.7 Percent in U.S.

Transwestern's | August 08, 2019

According to Transwesterns recently released national office report reflects resilience in U.S. market fundamentals, even in the face of the moderating pace of U.S. economic growth demonstrated by net job creation averaging 172,000 per month for the first half of the year. In this environment, the national vacancy rate held steady at 9.7% in the second quarter thanks to healthy preleasing levels of newly delivered office assets.

Spotlight

Economic change, both positive and negative, has a direct impact on business strategy. Think: As consumer spending slows and revenues drop, companies may cut back on hiring employees or buying new equipment. If spending increases, new employees and more materials are needed to adapt to this change.

Spotlight

Economic change, both positive and negative, has a direct impact on business strategy. Think: As consumer spending slows and revenues drop, companies may cut back on hiring employees or buying new equipment. If spending increases, new employees and more materials are needed to adapt to this change.

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BROKERAGE,AGENT

Mosaic and Atlantic Jasper Building First Build-to-Rent Neighborhood in Northern Arizona Master Planned Community

Mosaic | December 15, 2022

Mosaic, the nation’s leading institutional-grade general contractor, has broken ground on The Flats at Jasper, a new build-to-rent (BTR) community within the nationally-recognized Jasper master planned community in Prescott Valley, Arizona. Atlantic Jasper, developer of The Flats, has partnered with Mosaic to build the 26.1-acre site, which will include 240 horizontal apartment-style build-to-rent units. The project is expected to benefit from the strong housing market in the Prescott area, providing a much needed transitional product type for out-of-town demand, which makes up a large portion of the population. “We approached the development of the Flats at Jasper with a long-term investment horizon in mind, The units feature luxury fixtures and details, a first-class clubhouse, and other amenities designed to provide a competitive advantage in the Prescott market. Mosaic’s previous on-site experience and established area trade partners made them the ideal general contractor to deliver high-quality homes and amenities for the Flats at Jasper.” -David Brown, co-manager of Atlantic Jasper This unique BTR community will offer numerous amenities, including a state-of-the-art 5,000 square foot clubhouse with a 24-hour workout facility and meeting spaces, pool, hot hub, spa, dog park and dog wash facilities, along with open spaces and grilling stations throughout the community. Mosaic has previously partnered with other regional home builders on the Jasper clean-energy community and seeks to build on this success with a new partner, Atlantic Jasper. This is our third project in the Jasper community, and the first build-to-rent neighborhood within the masterplan, Atlantic Jasper saw the need for a for-rent product type based on the strong regional demographics. Our pre-development services team and robust on-site experience within the community were the perfect fit for supporting their innovative vision of an ideal site layout, standout architectural features, and an ambitious and executable construction plan,said Alex Pollack, Director of Partnerships at Mosaic. The new site will offer four floor plans in a combination of single-family detached homes and duplexes ranging from 760 to 1,039 square feet. The homes offer one-bedroom and one-bathroom or two-bedroom and two-bathroom options, with one of the one-bedroom floor plans including a home office space. The community includes detached garages and residents will benefit from walking trails and other amenities within the master plan. Construction is anticipated to finish in 2025. About Mosaic Mosaic is the nation’s fastest-growing general contractor, building homes for the country’s most innovative residential developers. Founded in 2017 and headquartered in Phoenix, the institutional-grade general contractor provides a full suite of construction services, from pre-development to warranty and lease up. As an industry leader in build-to-rent, the Mosaic team’s combined experience spans more than 24,000 BTR units across 100 communities. Mosaic’s GC operations span multiple states, including Arizona, Colorado, Texas, Idaho, California, and Florida. About Atlantic Jasper The development partners of Atlantic Jasper have extensive development experience and have worked together for over 35 years. Atlantic Jasper and its affiliates have been involved in the development and management of numerous residential subdivisions, manufactured home communities, condominiums, and apartments in California, Hawaii, Arizona, and Massachusetts.

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REAL ESTATE INVESTMENT, MORTGAGE AND LENDING

Gantry Completes Second-best Year with Enormous Commercial Mortgage Production

Gantry | January 23, 2023

Gantry, the largest independent commercial mortgage banking firm in the United States, recently informed that it produced $4.93 billion in commercial mortgages in 2022. Meanwhile, even in 2021, Gantry had produced about $5.15 billion despite economic instability. It has broken records in the last three decades, completing the second-best production of commercial mortgage banking operations. Jeff Wilcox, Principal of Gantry, said, "Last year was a tale of two halves, where after record setting Q1 and Q2 production totals, the market slowed for price discovery during the second half of the year. Despite the challenges, we have an experienced team that has successfully navigated cycle shifts in the past and operates proactively from that perspective." (Source - Business Wire) With $17.5 billion in national-level business in 2022, Gantry has no failed or missed transactions in asset types. This performance led to active interactions with clients as the originator and service provider, an actual rating at the time of placement, and a consultative role in choosing the best financial plan for the client's unique investment objectives. In addition, it examines every investment keenly for variations in performance, maturities, and tenant rollover at the annual assessments. In 2022, Gantry provided 476 loans, including every type of commercial asset class. Around 85% of Gantry's 2022 production was financed by life insurers, regional banks, and credit unions, with each type of lender performing better for various borrowers. In terms of asset classes, Gantry continues to secure office, retail, and lender-preferred industrial and multifamily loan deals. In addition, Gantry successfully funded specialty assets, such as healthcare and self-storage, through various correspondent or associate lenders. About Gantry Gantry, a San Francisco-based private mortgage bank, has many correspondent lenders that use its production, closing, and servicing services. The company, founded in 1991, has approximately 100 employees in regional offices in the western US and New York and over 45 production teams that generated nearly $5 billion in the past year. The $17.5 billion nationwide servicing platform covers over 2,000 loans in 43 states. It is one of the few non-banking, non-insurance chartered companies with a Primary Servicer rating from Standard & Poor's.

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REAL ESTATE TECHNOLOGY,REAL ESTATE INVESTMENT

Thompson Thrift to Develop Luxury Multifamily Community Outside Colorado Springs

Thompson Thrift | November 29, 2022

Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading multifamily developers, announced today the development of Alta25, a 264-unit Class A multifamily community in the Colorado Springs suburb of Monument. Thompson Thrift plans to welcome new residents starting in 2025. "There is strong demand for luxury multifamily communities in this area, We expect that Alta25 will provide an appealing rental option for residents desiring the style, luxury and convenience that Thompson Thrift communities feature." -Josh Purvis, managing partner for Thompson Thrift Residential Located at 16218 Jackson Creek Pkwy, Alta25 will offer eight, three-story garden style buildings and 96 detached garages. The one-, two- and three-bedroom apartment homes will average 987 square feet with luxury finishes including gourmet bar-kitchens with elegant quartz countertops, timeless tile backsplash, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostat and smart door locks, walk-in closets, full-size washers and dryers, as well as patio, balcony, and private yard options. Luxury living will continue throughout the community with amenities such as a professionally decorated clubhouse, resort-style swimming pool, 24-hour fitness center, Amazon Package Hub, bike storage and workshop, thoughtfully designed courtyards, grilling stations, outdoor game area, an electronic firepit with seating area, a dog park, pet spa with grooming station, and more. The site is adjacent to Monument Marketplace, which is home to over 658,000 square feet of retail and restaurants, and sits within The Village at Jackson Creek, a mixed-use project currently in development. Historic downtown Monument, less than three miles north, offers small-town charm filled with unique and locally owned boutiques, restaurants, galleries and spas. Nearby Interstate 25 is currently being widened to six lanes, which will improve traffic flow from Colorado Springs to Denver, and further improve access to several major employers including Fort Carson, UCHealth Memorial Hospital North and Schriever Space Force Base. Monument offers the ideal Colorado setting with views of Pikes Peak to the southwest, the Rocky Mountains to the west. Additionally, residents will enjoy an abundance of outdoor recreation, and highly rated public schools, both of which contributed to Monument being ranked as one of the best places to raise a family in Colorado. During the past 30 years Thompson Thrift has developed more than $4 billion of ground-up development projects across the Midwest, Southeast and Southwest. The company made a name for itself by being one of the few developers to build high-quality, attractive Class A residential communities with a variety of conventional, luxury leased villa and townhome-style communities. About Thompson Thrift Real Estate Company Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver, Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve.

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