Market Analytics

Salt Lake City Skyline

4 Ways to Get to Know Salt Lake City

Salt Lake City may not be as high profile as Los Angeles or New York City, but it has plenty of exciting things to offer both residents and visitors. Bordered by the buoyant waters of the Great Salt Lake and the snow-capped peaks of the Wasatch Mountain Range, Salt Lake City has charm and character worthy of high note. Here are four ways to get to know Salt Lake City and all it has to offer.

Salt Lake City Skyline

Skiing and Snowboarding

Salt Lake City is a top destination in the U.S. for skiing, snowboarding and other winter activities. To truly get to know the city, you’ll want to venture out into the depths of the snow to get a feel for the area. In fact, there are seven world-class ski resorts just minutes away from Salt Lake City. U.S. News ranked Salt Lake City as the third best ski destination in the United States in 2016.

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6 Reasons Businesses Love Rochester, MN

RealMassive By RealMassive
Rated as one of the top cities for doing business in the country by Inc. Magazine, Rochester is favored among both home-grown and national brands. In fact, according to Rochester Area Economic Development, Inc., Rochester and the surrounding communities have been recognized for their collaborative and innovative spirit —ranking number three in patent filings per capita and supporting entrepreneurial communities and start up ventures.

So what’s to love? Rochester is home to a strong labor pool, a highly educated workforce, and boasts access to over 45 two- and four-year higher education institutions. Big names like Mayo Clinic, Hormel, IBM, Red Wing Shoes, Federated Insurance, Fastenal and Seneca Foods are just a few of those who choose to do business here.

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Why #CRE Should Pay Attention to NERDS

Evan Santosby Evan Santos, Partner Relations at RealMassive
2016 has been the year of NERDS. We’re not talking about “nerds” portrayed in movies with thick glasses and pocket protectors. We’re talking about the five office markets that you should be keeping an eye on for strong talent, affordability, and investment opportunity.

At the end of 2014, JLL presented five office markets in their current cycle as hotspots for growth. The markets include: Nashville, the East Bay, Raleigh, Denver and Salt Lake City and were coined “the NERDS.”

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Salt Lake City – A Hot Destination for #CRE Investment

Evan Santosby Evan Santos, Partner Relations at RealMassive
Commercial real estate sales nationwide hit $543 billion last year, which is not far below 2007’s all time peak of $573 billion. That mark may well be surpassed in 2016, as industry experts predict growth of nearly 7%. Geographically, deal volume was strongest in the secondary and tertiary markets according to data from Real Capital Analytics. These gains are an important sign of investor confidence in the commercial property market.

Utah has become a stand out in the commercial real estate investment world. The Salt Lake City market is a major contributor to that growth. In fact, Salt Lake City is #2 on America’s Next Boomtowns (Forbes, 2016). According to NG Acres, 2014-2015 was a historic year for investments in Salt Lake City and investments in 2016 have continued this pace.  

Commercial real estate investments in growing markets are a great place to preserve capital and look for yield moving forward. According to the Salt Lake Tribune, investors poured more than $1.8 billion into the acquisition of commercial properties in Utah in 2015, the third straight year that number climbed above its prior high. Much of that investment cash is coming from outside the state as national real-estate trusts, pension funds and other large portfolio managers seek to spread their bets and seek bargains outside larger, more expensive metro markets.

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Charlotte CRE Sales Near $1 Billion

“Jesse Tron By RealMassive
Commercial real estate sales nationwide hit $543 billion last year, which is not far below 2007’s all-time peak of $573 billion. That mark may well be surpassed in 2016, as industry experts predict growth of nearly 7%.

The Charlotte commercial market is a major contributor to that growth. According to data from Cushman and Wakefield, commercial sales have already surpassed $904 million so far this year.

The count includes sales of office buildings, retail centers, hotels, apartments, industrial buildings and warehouses of $2.5 million or more. With a number of deals in the pipeline, there’s a good chance that sales in the Charlotte area may exceed last year’s total of $2.4 billion.


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Buda, Hutto, and Taylor Texas on a Map

How Many More Apartments Can They Cram Into Austin?

Mark Daniel by Mark Daniel, Vice President of Partner Relations at RealMassiveA.B. Economics Stanford University
I’ve written in the past about the Austin apartment market in Austin Apartment Long Term Trends – 1930 to 2015 and 17 Apartments, over 5,000 units delivered in Austin in 2015. Supply has poured into Austin at a frenzied pace, especially in and near the CBD with units capturing higher average rents than historic norms for the market. Needing room-mates (plural intended) to make the rent has become the norm for millennials in Austin, not necessarily the case 10 years ago.

That being said, rent growth is slowing now in Austin, and someone mentioned to me just this week that she saw a “body-for-hire standing outside Hanover waving a sign that said they had leasing specials available right now. Never seen that for any of the luxury apartments.”

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5 Must-Know Trends in the DFW Retail Market

“Jesse Tron By RealMassive
In June, The Crescent, uptown’s popular mixed-use complex, unveiled the results of a $33 million renovation project, the first since The Crescent’s opening in 1986. That opening triggered extensive development throughout the area, which has become more pedestrian-centered over the years. The renovation project was in part intended to accommodate this change.

The complex includes a luxury hotel, three office towers, and restaurants and retail shops. The recent additions include several new restaurants as well as revamped landscaping and the addition of several pocket parks. Eateries include the Ascension coffee house and Moxie’s Grill and Bar, among others.

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cropped Jacksonville w RM logo

3 Ways the Jacksonville Skyline is Changing

“Jesse Tron By RealMassive
small:cropped Jacksonville

With its spectacular setting along the St. Johns River, downtown Jacksonville is the sparkling center of the community. Iconic towers and the striking Main Street Bridge are part of the city’s character, and so is its constant evolution. The downtown district, as well as the JAX beaches, are home to some of the area’s most familiar landmark buildings.

Some changes are happening along the city skyline, with new construction and renovation projects in prominent downtown locations as well as in beachfront multifamily.

Sale of The Strand

An important event in the local high-rise market was the recent, record-breaking sale of The Strand. This residential tower, built in 2007, was sold for $64.6 million, which comes to $219,000 for each of its 295 units. This well-known building was the only high-rise tower constructed downtown in the last decade, and some observers suggested that it might be more than the market can bear.

Indeed, there has been a move toward more mid-rise construction for multifamily in recent years, but this sale is seen by some as an indication that the demand for residential towers may be resurging.

Luxury towers like The Peninsula, Berkman Plaza, and San Marco Place are other prominent multifamily buildings on the downtown Jacksonville riverfront.

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4 Things You Should Know About CRE in The Triangle

“Jesse Tron By RealMassive
The Triangle’s commercial real estate capital markets logged more than $1 billion in major property acquisition deals in the first quarter 2016, a 56 percent increase compared to the year prior.

Let that sink in.

This is truly a booming market. What’s driving this demand for CRE in the Raleigh-Durham market? Today we’ll discuss some of the factors behind this amazing level of activity, and explore what it may mean for the Triangle’s commercial real estate market moving forward.


1. International Investment

Capital from foreign investors accounted for around 20% of all CRE acquisitions in the U.S. last year. As prices have risen in the gateway cities, international investors are showing increased interest in secondary markets.

For example, last year the sovereign wealth fund of the government of Abu Dhabi paid nearly $103 million for 2 hotels in the area. And the prices being commanded in the Triangle are not bargain rates. The $79.91 million price tag for the Renaissance Raleigh North Hills translates to nearly $350,000 a room, and that’s comparable to what some hotel investors pay in major U.S. urban markets like New York or Chicago.

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