HOUSTON – The northeast industrial submarket broke records in first quarter 2019, delivering 438,000 sf, with an additional 835,200 sf—the second-largest amount during a quarter—under construction. According to NAI Partners, the market contains 37 million sf of inventory. Vacancies have been gradually rising due in part to new inventory delivering with vacant space. Click to read more at www.recenter.tamu.edu.
It all started with an email.
Just days before closing on a home, I got a message from my escrow officer—or at least someone pretending to be her. Our closing costs needed to be wired to the title company right away, she said, or our closing date would be pushed back. Considering the six weeks I’d spent waiting to close on the property—not to mention the disdain I had for our current rental home—the message sent my heart racing. The font was right. The signature was right. There was even a CC to my real estate agent. But something seemed off. A closer look at the header revealed the problem. Each email address—one for my agent, one my mortgage broker and one for my escrow officer—was a single character off. It was a fake. Click to read more at www.forbes.com.
Sean Pan wanted to be rich, and his day job as an aeronautical engineer wasn’t cutting it. So at 27 he started a side gig flipping houses in the booming San Francisco Bay Area. He was hooked after making $300,000 on his first deal. That was two years ago. Now home sales are plunging. One property in Sunnyvale, near Apple Inc.’s headquarters, left Pan and his partners with a $400,000 loss. “I ate it so hard,” he says. A new crop of flippers, inspired by HGTV reality shows, real estate meetup groups, and get-rich gurus, piled into the market in recent years as rapid price gains helped the last property crash fade from memory. Click to read more at www.bloomberg.com.
Allan Swaringen, president and CEO of public non-listed REIT (PNLR) JLL Income Property Trust and chairman of Nareit’s PNLR Council, believes a whole new model of PNLRs—the 2.0 version—is emerging to better protect investors’ wealth and generate good income while providing valuable solutions for today’s retirement world. When Swaringen looks out 10 years from now, he can see the eight or 10 PNLRs out there today, with a combined value of $25 billion, expanding to 30 to 40 companies with a value of $300 billion to $400 billion. “The PNLR market, not having shares listed on the exchange and not having our shares traded daily, allows investors a smoother journey and yet still have that good, quality, durable income.” Swaringen added that listed REITs continue to offer far greater liquidity than PNLRs. Swaringen describes the PNLR industry as having undergone some seismic changes over the last five years. JLL Income Property Trust, advised by LaSalle Investment Management, Inc., pioneered the daily-NAV/perpetual life REIT structure six-and-a-half years ago, and was one of the first programs to gain access through a wirehouse distribution platform through a partnership with Merrill Lynch. Click to read more at www.mrej.com.
Lush tropical landscapes sway gently in warm coastal breezes. Bright sunshine frames year-round activities like golf and bird watching. But McAllen, Texas, nestled in deep South Texas, is more than just another beautiful destination. Innovative business and investment opportunities, a rapidly expanding medical education and research industry, and premier luxury retail locations pair with a constant flow of visitors from throughout the region, Mexico and the United States spurring residential and commercial development. Click to read more at www.rednews.com.
2018 saw several retailers declare bankruptcy. However, many analysts predict the number of bankruptcies may ease up in the year ahead. “They will slow if for no other reason than a lot of the most troubled retailers have already filed bankruptcy like Toys R Us, Bon-Ton, and of course Sears,” Philip Emma, a senior retail analyst with Debtwire, told Retail Dive in an email. “That said, there are a lot of variables that are new to the equation that will continue to challenge those retailers who were already facing challenges.” Click to read more at www.rednews.com.