State and local governments are embracing new building performance standards to combat climate change. Given that buildings are currently responsible for 39% of global energy related carbon emissions, building owners are facing increased pressure to improve energy efficiency and create more sustainable buildings(1). Green buildings are perceived to cost significantly more than conventional buildings. However,...Read More

The prophesized doom and gloom 2023 recession has yet to rear its ugly head. Many analysts are pushing the prediction to 2024, but will that happen? A good test is to look at the consumer’s financial situation. Student loans As of the first of this month, federal student loans are accruing interest after several years...Read More

If you listened to any of the large retailers’ earnings calls this past quarter you may have heard the term “shrink”. But what is it? Shrink is the loss of inventory due to theft or damage, and it is on the rise. Companies such as Target, Home Depot, T.J Maxx, Dick’s Sporting Goods, Nordstroms, Dollar...Read More

After over a decade of continuous year-over-year property value growth, prices have been falling over the course of 2023 nationwide. According to Real Capital Analytics (RCA), the average value of commercial properties fell 9.58% between July 2022 and August. The industrial sector had the least negative growth at -1.7% year-over-year, with apartments giving back some...Read More

In almost every major U.S. city center you will see massive office towers being converted into multifamily buildings. A common question is how will these huge new apartment complexes be filled with new residents? Population and new construction data suggest that it depends on what city you are in. If you look to a skyline...Read More

On August 1, 2023, Fitch rating agency downgraded the debt of the U.S. Government from AAA to AA+, citing “the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to ‘AA’ and ‘AAA’ rated peers over the last two decades that has...Read More

Medical office buildings (“MOBs”) have increasingly become a targeted asset class for institutional buyers of real estate due to their stable demand, long-term leases, creditworthy tenancy, and purpose-built infrastructure. The growing number of institutional investors seeking opportunities in this market led to an all-time high in transaction pricing and volume in 2022, peaking at $397...Read More

Short-term interest rates have been in the spotlight recently due to the Federal Reserve’s post-pandemic tightening cycle, where the policy rate has been raised a total of 500 basis points from March 2022 to May 2023.  Many dislocations in financial markets have occurred because of this interest rate shock.  Most recently, a banking crisis of...Read More

The President’s budget request was released on March 9th and features spending of more than $6.9 trillion (1), compared to last year’s request of $5.8 trillion (2) for FY23. The traditional annual budget process is complex and occurs in planned steps throughout the calendar year that are often adjusted for political purposes. The standard process...Read More

Life Science office and lab space has been one of the fastest growing commercial real estate sectors in the United States, part of which was fueled by the COVID-19 pandemic and investors favoring office and lab buildings with sticky tenancies that were averse to the remote-work movement. Life Science companies had been able to raise...Read More