February 2016

RetailPic

The Walkability Premium – How Walkability is Impacting #CRE Value

Small - The Diamond Building in MuellerEvan Santosby Evan Santos, Partner Relations at RealMassive
 
 
As urban commercial real estate markets continue to see growth, the concept of “walkability” is playing a critical role in the evaluation of new opportunities. Today, walkability is a well known concept. The benefits of walkability are well documented and range from reducing greenhouse gases emissions to improving public health; but it is really the economic story that has pushed walkability into the real estate limelight.

Walk Score, launched in 2007, has become the industry standard index for evaluating the walkability of a specific property. It is an excellent tool for tenants, investors and developers to compare property locations with respect to how pedestrian-friendly they are. Walk Score utilizes Google data to locate stores, dining facilities, entertainment venues, parks, etc. within walking distance of a particular address and assigns a “Walk Score” of 0-to-100 based on proximity.

Read More

small_projectatlas3

Multifamily Construction in Seattle

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassive, A.B. Economics Stanford University
 
 
When you arrive at the website Seattle Department of Construction and Inspections and click on “apply for a permit” one of the first things you see is the following warning:

“Due to an unusually high volume of permit applications, our reviews are running two to four weeks behind our target dates.”

Seattle has experienced an onslaught of apartment construction over the past few years having caused some investors to exit the market. That being said, rent growth remains strong at 7.29% year-over-year (against a national average of 4.3%) and occupancies average 95.3% according to a recent article from leading apartment research firm Axiometrics Inc. which you can read here.

Read More

Screen Shot 2016-02-22 at 10.07.13 AM

Spark District – Urban Core in #DTJAX

Evan Santosby Evan Santos, Partner Relations at RealMassive
 

Downtown Jacksonville has emerged as the region’s Innovation District – a dense urban environment where anchor institutions and companies cluster and connect with start-ups, business incubators and accelerators. Physically compact, transit-accessible, technically-wired and blossoming with arts and culture, Downtown Jacksonville offers the right resources to foster creativity, ideas, collaboration and entrepreneurship.

Read More

LA5

Los Angeles Office Long Term Trends – 1920 to 2015

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassive, A.B. Economics Stanford University
 
 
Using data available through the Los Angeles County Office of the Assessor I have created a map showing the distribution of “investable” office space in Los Angeles by zip code. This excludes the category for small office and includes the following:

Office, Hi-rise, >= 6 floors

Office, Large, >35,000 sq. ft.

Office, Medium, 10,000 to 35,000 sq. ft.

I also removed properties with appraised values of less than $50 psf. (7.6%) and those with initial construction dates pre-1920 (1.2%).

Read More

Los Angeles Warehouse Long Term Trends

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassive, A.B. Economics Stanford University
 
 
There are 4,997 distribution warehouses in Los Angeles county of at least 10,000 square feet totaling $21.5 billion in assessed value (land included). The total square footage comes to 302 million, and the average year built is 1978. This covers a lot of time and space, so let’s take a more granular look at both.

The peak decade for warehouse construction in the Los Angeles area was the 1980s when 1,158 properties were built with an average size of 52,297 square feet for delivery of a total of 60.6 msf. spread across the county.

Read More

Los Angeles Apartment Distribution & Long Term Trends

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassive, A.B. Economics Stanford University
 
The Los Angeles apartment market has always been characterized by large numbers of projects with low average units per project – lots of properties at smaller sizes than the national average. For purposes of this analysis, I have excluded any property with fewer than 10 units. Even with that qualifier, all 27,898 properties built since 1920 have an average of only 27.6 units each, skewed upwards since 2000. I will return to this in an upcoming chart.

The peak decade for apartment construction in the Los Angeles area was the 1960s when 8,638 properties were built with an average size of 24.4 units per property for delivery of a total of 210,831 units spread across the county.

Read More

pic1

Austin Office Distribution & Long Term Trends

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassive, A.B. Economics Stanford University
 
 
Using data available through the Travis Central Appraisal District we have created a map showing the distribution of “investable” office space in Austin by zip code. This excludes the category for small office and includes the following:

Office, Hi-rise, >= 6 floors

Office, Large, >35,000 sq. ft.

Office, Medium, 10,000 to 35,000 sq. ft.

Read More

Top