In case you missed it: Looking back at 2012, looking ahead to 2013
Dec 21, 2012
Before you take off for a well-deserved holiday break, catch up on what happened this week in the world of commercial real estate.
Commercial Observer: “Commercial Real Estate In Memoriam: 2012”
The end of the year is typically a time to reflect on the past 12 months, and the commercial real estate industry is no different. Karsten Strauss recognized three commercial real estate luminaries who passed away this year: Samuel “Sandy” Lindenbaum, David Winoker, and Irving Schneider. Click through to the Commercial Observer for more on their lives and careers.
Business Insider: “A Crucial Leading Indicator Of Commercial Real Estate Hits Its Best Level Since 2007”
The American Institute of Architects’ Architecture Billing Index (ABI) score rose in November, signaling the strongest business conditions since the end of 2007. This index is a crucial economic indicator, as architecture billing typically leads to construction spending nine to 12 months later, potentially a good sign for commercial real estate in 2013. Jump over to Business Insider for more details on the ABI’s November findings.
Wall Street Journal: “Skyscraper? Value of New York Tower Is High”
An 850-foot-tall apartment tower in lower Manhattan recently became the highest valued rental apartment building, at $1 billion. The valuation is a result of a $250 million deal between TIAA-CREF and developer Forest City Ratner Cos. Check out the Wall Street Journal to read all about the deal and what it says about investor demand.
Happy holidays from all of us at IRR!
Posted by: Raymond T. Cirz