Key CRE Points for 2017 – Q&A with David Kessler of CohnReznick

The arrival of 2017 brings both questions and adjustments to the commercial real estate industry. From renewing confidence shaken up by a new president-elect and an interest rate hike, to foreign investments and the growth of urban neighborhoods, 2017 is the year for transition. Commercial Property Executive sat down with industry expert David Kessler, national director of the Commercial Real Estate Industry practice at CohnReznick, to discuss seven of the key elements that those in the industry should be aware of throughout the year.

David Kessler, national director, Commercial Real Estate Industry Practice, CohnReznick

David Kessler, national director, Commercial Real Estate Industry practice, CohnReznick

Renewed Confidence to Drive CRE Strategy

CPE: How do you think people in the industry are dealing with the rise in interest rates?
Kessler: I think people are going to start to strategize on cost of capital. Fortunately, a lot of folks were locking into

... read more at: https://www.cpexecutive.com/post/key-cre-points-for-2017-qa-with-david-kessler-of-cohnreznick/

Plan calls for new building with 45 condominiums in Portland

A South Portland developer is proposing a $13 million condominium development near an interstate off-ramp in Portland.

Vincent Maietta is seeking approvals for a four-story, 45-unit building at 218-220 Washington Ave., according to city planning files. It would replace a single-family home that currently sits across the road from the intersection of the Eastern Promenade and Washington Avenue, where the Exit 8 off-ramp from Interstate 295 ends.

The project is the latest in a seemingly endless procession of residential development proposals in Maine’s largest city, where a shortage of housing units and strong demand have been driving up rents, making the market attractive to investors.

Over the past three years, 1,435 units of housing have been approved by the city’s Planning Board, according to city data. Only 204 of those units have been completed and 740 are under construction.

“There is no sign of the market slowing down right now,” said Jeff Levine, the

... read more at: http://www.pressherald.com/2017/01/09/plan-calls-for-new-building-with-45-condominiums-in-portland/

Plan calls for new building with 45 condominiums in Portland

A South Portland developer is proposing a $13 million condominium development near an interstate off-ramp in Portland.

Vincent Maietta is seeking approvals for a four-story, 45-unit building at 218-220 Washington Ave., according to city planning files. It would replace a single-family home that currently sits across the road from the intersection of the Eastern Promenade and Washington Avenue, where the Exit 8 off-ramp from Interstate 295 ends.

The project is the latest in a seemingly endless procession of residential development proposals in Maine’s largest city, where a shortage of housing units and strong demand have been driving up rents, making the market attractive to investors.

Over the past three years, 1,435 units of housing have been approved by the city’s Planning Board, according to city data. Only 204 of those units have been completed and 740 are under construction.

“There is no sign of the market slowing down right now,” said Jeff Levine, the

... read more at: http://www.pressherald.com/2017/01/09/plan-calls-for-new-building-with-45-condominiums-in-portland/

Pedal Power


Pedal Power

Daily commuters, devoted athletes, daring tourists – there are more bicyclists on Oahu’s roads than ever. Here’s how new biking options are helping grow local businesses and providing another way for just about anybody to get around.

Will Mather has bike renting down to a science. He’s able to fit a customer with the right size bike, discuss safety and road rules, equip them with a helmet and lock, and take payment for the rental, all in about seven minutes.

Mather is the store manager of The Bike Shop Kailua. In the past two years, bike rentals, particularly with Japanese tourists, have burgeoned in the Windward town. And The Bike Shop Kailua is one of the most popular rental outlets, especially after it moved three blocks to Kailua Road this past

... read more at: http://www.hawaiibusiness.com/pedal-power/

Pedal Power


Pedal Power

Daily commuters, devoted athletes, daring tourists – there are more bicyclists on Oahu’s roads than ever. Here’s how new biking options are helping grow local businesses and providing another way for just about anybody to get around.

Will Mather has bike renting down to a science. He’s able to fit a customer with the right size bike, discuss safety and road rules, equip them with a helmet and lock, and take payment for the rental, all in about seven minutes.

Mather is the store manager of The Bike Shop Kailua. In the past two years, bike rentals, particularly with Japanese tourists, have burgeoned in the Windward town. And The Bike Shop Kailua is one of the most popular rental outlets, especially after it moved three blocks to Kailua Road this past

... read more at: http://www.hawaiibusiness.com/pedal-power/

A Housing Pullback In 2017?

According to data compiled by the Federal Reserve Bank of New York, the 10-year term premium moved above zero for the first time in 10 months on the 14th of November, less than a week after Mr. Trump’s surprise Electoral College win. This means investors were quickly being forced to pay significantly more for a risk-free Treasury note than would at the time have been expected given prevailing expectations on both inflation and real interest rates – all within days of the election. On the last day of trading for the year, the yield on the benchmark Treasury note stood at 2.42% – 1.05 percentage points higher than July’s yield of 1.366%, an all-time record posted in the wake of the Brexit vote. Most of these gains are likely attributable to surging risk premia.

Surging yields over such a short period of time are rare in the bond world. The biggest

... read more at: http://seekingalpha.com/article/4035039-housing-pullback-2017

Kroger closing Old Louisville store – The Courier

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The Second Street Kroger is closing.
Scott Utterback/The CJ

City residents will lose another urban grocery as the Kroger in Old Louisville closes by the end of January. It will be the fifth grocery to call it quits

... read more at: http://www.courier-journal.com/story/news/local/centralwest/2017/01/06/kroger-closing-old-louisville-store/96246636/

Small condo project in Wayzata adds to the trickle in Twin Cities

Thousands of rental apartments have been built in the metro area over the past decade, but few developers have been willing to tackle for-sale condominiums.

And the latest is a small addition to those few: A 21-unit luxury building on a historic site in Wayzata.

The project recently received final municipal approval and developer Jeff Schoenwetter hopes to break ground early this year to satisfy a deepening dearth of for-sale condominiums in the metro.

The three-story building will be called Meyer Place at Ferndale, named for the Meyer Bros. Dairy it is replacing at 105 E. Lake St. on the northern shore of Lake Minnetonka.

Schoenwetter has been working for several years with members of the Meyer family, who will retain an ownership role in the project via a 99-year land lease that will transfer to the individual homeowners once the closings happen. Such land leases aren’t common in

... read more at: http://www.startribune.com/a-small-condo-project-in-wayzata-adds-to-the-trickle-in-the-metro-area/409834415/

A small condo project in Wayzata adds to the trickle in the metro area

Thousands of rental apartments have been built in the metro area over the past decade, but few developers have been willing to tackle for-sale condominiums.

And the latest is a small addition to those few: A 21-unit luxury building on a historic site in Wayzata.

The project recently received final municipal approval and developer Jeff Schoenwetter hopes to break ground early this year to satisfy a deepening dearth of for-sale condominiums in the metro.

The three-story building will be called Meyer Place at Ferndale, named for the Meyer Bros. Dairy it is replacing at 105 E. Lake St. on the northern shore of Lake Minnetonka.

Schoenwetter has been working for several years with members of the Meyer family, who will retain an ownership role in the project via a 99-year land lease that will transfer to the individual homeowners once the closings happen. Such land leases aren’t common in

... read more at: http://www.startribune.com/a-small-condo-project-in-wayzata-adds-to-the-trickle-in-the-metro-area/409834415/