By KIMBERLEY HAAS
As companies work to determine what their office demands will be post-pandemic, commercial real estate experts continue to debate the impacts on the industry and the banking system.
With office vacancy rates hitting an all-time high in August, it is feared that if office buildings become obsolete, banks will be left to weather the losses. But during a webinar hosted last week by Marcus & Millichap, a California commercial real estate firm specializing in investment sales, financing, research, and advisory services, it was agreed that office commercial real estate loans make up a small percentage of total bank outstanding loans.
Jeffrey DeBoer, founding president and CEO of The Real Estate Roundtable, a nonprofit public policy think tank…
By KIMBERLEY HAAS
As the future of traditional office spaces remains unclear, the coworking industry is seeing growth, and college students could boost this market while benefiting from the opportunity to work alongside established professionals and entrepreneurs.
According to a CoworkingCafe market study released last week, 80% of the top 100 universities in the country have at least one coworking space close to campus. Analysts found a total of 926 coworking spaces within two miles of the schools they looked at.
New York University has 220 coworking spaces around its campus, George Washington University in Washington, DC, has 74, and the University of Illinois at Chicago rounds out the top three with 66 coworking spaces within two miles.
The median…
By KIMBERLEY HAAS
As the commercial real estate market continues to change, office space is down, but not out, according to an economist who says a majority of companies are still committed to having a place where the “secret sauce” of their business is created.
Richard Barkham, global chief economist for CBRE in Dallas, said it may take up to nine years for the office market to fully recover but it is important to remember that not all of that sector has been badly hit by drops in value.
Barkham said that a large portion of the vacancies are in a minority of the stock, with 80% of the rise in vacancies in 10% of office buildings.
The office buildings…
Across the country this December, mortgage professionals will be stepping up to help people in need, support community charities, and generally help make the season a little brighter. The Mortgage Note wants to celebrate those efforts by highlighting them in an upcoming edition of our newsletter — and by doing our part to spread holiday cheer. We’ll pick one highlighted charity and make our own $1,000 donation to it. What do you need to do? Just write a brief description of the charitable activity you and/or your co-workers are doing this year—ringing the Salvation Army bell, collecting for Toys for Tots, working at a local food bank, etc.—and email it to: [email protected] Also, include a link to the website of the…
