March 30, 2012
United Seating & Mobility signed a 1-year, $25,920 lease for 3,600 square feet of warehouse space inside the 21-year-old Desert Inn Commerce Center, on 6.31 acres, at 3230 W. Desert Inn Road, Suite 3, in Las Vegas. Cushman & Wakefield-Commerce Real Estate Solutions’ Leo Biedermann represented the lessor, Paradise Las Vegas LLC. The reported average rent equals 60 cents per square foot modified gross.
March 29, 2012
A new Urban Land Institute (ULI) survey of 38 leading real estate economists and analysts show broad improvements for the real estate markets through 2014. Over the next three years:
· Commercial property transaction volume is expected to increase by nearly 50%
· Issuance of commercial mortgage-backed securities (CMBS) is expected to more than double
· Institutional real estate assets and real estate investment trusts (REITs) are expected to provide returns ranging from 8.5% to 11% annually
· Vacancy rates are expected to drop in a range of between 1.2 and 3.7 percentage points for office, retail, and industrial properties and remain stable at low levels for apartments; while hotel occupancy rates will likely rise
· Rents are expected to increase for all property types, with 2012 increases ranging from 0.8% for retail up to 5% for apartments;
· Housing starts will nearly double by 2014, and home prices will begin to rise in 2013, with prices increasing by 3.5% in 2014
For the full report, CLICK HERE.