Savannah becomes America’s next great port city, and Boston tries to lure in manufacturers
Oct 31, 2014
Here are the news stories you might have missed this week:
Bloomberg: Savannah surges as mighty gate for imports on U.S. growth
Savannah is transitioning from sleepy southern hamlet to America’s next big international port. Twenty years after local officials built a large warehousing complex near the then small port, Savannah’s been on the rise, and has quickly become the second busiest U.S. port, only behind New York City. Large retailers like Target and Home Depot have already claimed warehouses near Savannah, and plans to dredge the port to fit large container ships will only increase traffic. Read more about Savannah’s booming port at Bloomberg.com.
The Boston Globe: On Boston’s outskirts, hopes for an industrial comeback
Boston’s industrial sector has almost entirely disappeared, but new development plans will attempt to lure industrial businesses back to Beantown. The project, dubbed Yard 5, would build industrial and office space in Hyde Park in an attempt to draw industrial business to the outskirts of Boston. Boston — often seen as a city of thinkers, with world-class schools like Harvard and MIT in its midst — could use this type of investment to bridge big ideas with industrial know-how. Learn more about the future of Yard 5 at BostonGlobe.com.
CoStar: Competition for CRE lending creating a dilemma for banks
U.S. banks are continuing to grow their CRE loan portfolios, but are getting pickier about the deals they select. Bankers are finding that since many major CRE sectors — multifamily, retail, office, and lodging — are strong, they can afford to back away from not-as-profitable deals in search of better opportunities. For example, with some parts of the country seeing a surplus of multifamily supply, banks have turned their gaze elsewhere to maximize their return on capital. Find out what banks are looking for at CoStar.com.
Las Vegas Review-Journal: Valley’s recovering economy sparks deluge of deals
The Great Recession caused a lot of hurt in Las Vegas’s commercial real estate market, with new construction stalling and large properties going through foreclosure, but investors are returning to Southern Nevada now that the wounds are healing. . But once-scared investors are returning to the marketplace now that it has regained long-term health. Big deals, especially in the retail sector, are being inked across the sector, and the future’s looking bright for Sin City. Read about these Las Vegas deals at ReviewJournal.com.
Posted by: Raymond T. Cirz
