KMC Savills, Inc.’s Post

Location Advice! Random Thoughts on The State of Commercial Real Estate --->>>https://loom.ly/LsDx6gs #LocationAdvice #LeeOrange #CommercialRealEstate #Orange #Industrial #Office #OrangeCounty #Listings #Brokers #OC #LeeAssociates

The independent commercial property consultancy Knight Frank has found that rents on prime offices in #Edinburgh have risen at their fastest rate since 2015. Average rents reached £43 per square foot at the end of 2023, compared to £28 in 2014 and £40 in 2022 (a year-on-year increase of 8%). "Rents for prime offices in Edinburgh have risen at a significant rate in the last 12 months," said Andrew Hill, lease advisory partner at Knight Frank Scotland. "A big contributor to this has been the flight to quality we have seen since the Covid-19 pandemic, with occupiers favouring quality space in prime locations, with good access to amenities. At the same time, there has been very limited supply of stock coming through and that has put upward pressure on rents for in-demand properties.    “With so little in the development pipeline and a lot of existing office space being repurposed for other uses, the grade B and C properties are also holding up well. There is a particular lack of stock in the city centre for smaller suites of below 5,000 sq. ft., which is one of the main contributing factors to rising rents in these markets.    The vacancy rate for new grade A office space in Edinburgh city centre stands at just 0.4%, while the vacancy rate for second-hand grade A space is 6.7%.

Confidence returning to South East commercial property markets, finds Vail Williams 🏘️👀 Office market confidence is returning across the Thames Valley, Oxford and Surrey – but a lack of new industrial supply remains a core issue for the commercial market. These are the latest findings from property consultancy Vail Williams, which has published a comprehensive report on the region’s commercial property landscape. David Barden, regional managing partner for the Thames Valley, said: “A new government has brought with it a fresh perspective, and we’re already seeing the positive impact of this on the office and industrial markets. “Stabilised interest rates have invigorated the property market." Continue reading... https://lnkd.in/eEr7YK84 #property #commercialproperty #businessconfidence #confidence #southeast #construction #thamesvalley #oxford #businessnews #businessintelligence

The UK commercial property sector is rebounding, with a surge in demand for modern office spaces driving new developments like M&G's 40 Leadenhall. However, challenges remain as older buildings struggle to compete and London faces its highest vacancy rates in 20 years. Creative conversions are emerging as landlords adapt while stabilising inflation and lower interest rates attract international investors. Read more https://heyor.ca/XVT8bA #CommercialProperty #CommercialPropertyInvestment

The UK commercial property sector is rebounding, with a surge in demand for modern office spaces driving new developments like M&G's 40 Leadenhall. However, challenges remain as older buildings struggle to compete and London faces its highest vacancy rates in 20 years. Creative conversions are emerging as landlords adapt while stabilising inflation and lower interest rates attract international investors. Read more https://heyor.ca/XVT8bA #CommercialProperty #CommercialPropertyInvestment

Location Advice! Zero Sum Game in Commercial Real Estate: The Myth of Winning at All Costs --->>>https://loom.ly/LsDx6gs #LocationAdvice #LeeOrange #CommercialRealEstate #Orange #Industrial #Office #OrangeCounty #Listings #Brokers #OC #LeeAssociates

Not all office markets or buildings are created equal. Sydney’s top corporate tenants are flocking to high-quality spaces in the city’s commercial core, according to the Australian Financial Review. Data from Dexus supports this trend, showing an occupancy rate of 73% in the western fringe of the CBD near Darling Harbour, alongside a robust 92% in the financial district stretching from Martin Place to Circular Quay. David Harrison, managing director of Charter Hall, Australia’s largest commercial property manager, told the AFR that they were seeing high occupancy in modern assets even in fringe markets and precincts outside of the core Sydney and the ‘Paris end’ of Melbourne markets. And as investment capital is naturally drawn to areas where tenant demand is strongest, older and less desirable properties were losing out as a result. “So stronger pricing appetite will be directed to modern-high occupancy assets because they have greater rent growth and most importantly a liquid transaction market through cycles,” he said. “This may not be the case for older assets, no matter how much refurbishment capex is spent on these older assets.” #construction #propertydevelopment #officebuilding Looking to finance a property development project? Contact Michal on 0438 358 226 or by emailing michal@mworks.com.au.

Dexus formally announces the sale of two office properties for combined proceeds of $443.2 million - JLL and McVay Real Estate Dexus announced today that it has unconditionally exchanged contracts to sell two office properties for a combined sale price of $443.2 million of which Dexus’s ownership interest represents $336.3 million. The combined sale price is broadly in line with last stated book values, reflecting a 0.8% weighted average discount to the 30 June 2024 valuations. The properties are, 100-130 Harris Street, Pyrmont which was sold for $229.3 million in line with the 30 June 2024 book value. The property is an A grade boutique heritage office building located in the Sydney CBD fringe market of Pyrmont, with occupancy by area of 83% and a WALE of 4.3 years. Settlement is expected in early 2025. 100-130 Harris Street Pyrmont Sydney was brokered by Rob Sewell Head of Office Investments, McVay Real Estate. The second is 145 Ann Street, Brisbane which was sold for $213.9 million by the Dexus Office Partnership, in which Dexus has a 50% leasehold ownership interest, reflecting a 1.7% discount to the 30 June 2024 book value. The property is an A grade office building located in the northern periphery of the Brisbane CBD with occupancy by area of 84% and a WALE of 3.2 years Settlement is expected in December 2024. Sale proceeds would reduce Dexus’s pro forma look-through gearing3 by circa 1.5 percentage points and contribute toward Dexus’s circa $2 billion of divestments earmarked across FY25- FY27. 145 Ann Street Brisbane CBD Office building sold to Aware Real Estate alongside the Navigator Property Group brokered by JLL Directors Paul Noonan and Seb Turnbull. Aware Real Estate Head of Investment and Capital Transactions Pete Carstairs said the acquisition was aligned with ARE’s strategy to target office opportunities along the Eastern seaboard. Sam McVay Dan McVay Glenn Bechtel Daniel Kernaghan Andrew Peck Kate Low Stuart Crow Brock McDermott Shannon Gale Lynne Hale Thomas Craig Read more on COMMO > https://lnkd.in/ge6bUGwJ #dexus #office #officebuildings #officeinvestment #awarerealestate #jll #jllaus #officebuilding #officeinvestment #Mcvayrealestate #MRE #commercialrealestate #sydneyre #brisbanere

"Landlords and investors hope offices are back from the dead" This recent article from The Times highlights the push to revive commercial properties and add value in a competitive market. One powerful way to achieve that? Modernizing your elevator systems. At Professional Lift Solutions, we understand that first impressions matter. Modern, efficient elevators not only enhance your property’s functionality but also attract premium tenants and improve overall building value. Why choose modernization?   •  Attract Better Tenants: A seamless ride creates a lasting impression.   •  Increase Property Value: Reliable systems are an asset buyers and tenants look for.   •  Cut Costs: Newer systems are energy-efficient and built to last. Now is the time to position your property for success. Let PLS help you turn your elevator system into a key driver of value and tenant satisfaction. 📞 Call us at (469) 307-9251 🌐 Learn More About Modernizations https://lnkd.in/gaEi7Jru Read the full article from The Times here: Landlords and investors hope offices are back from the dead : https://lnkd.in/gAS9cCdm #Modernization #PropertyValue #ProfessionalLiftSolutions #ElevatorUpgrades

Location Advice! Ghosting: How It's Haunting Commercial Real Estate Deals --->>>https://loom.ly/LsDx6gs #LocationAdvice #LeeOrange #CommercialRealEstate #Orange #Industrial #Office #OrangeCounty #Listings #Brokers #OC #LeeAssociates