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Victor Calanog

Vice President of Research & Head of Economics

Victor Calanog is vice president of research and economics at Reis. He and his team of economists and analysts are responsible for the firm’s market forecasting, valuation, and real estate portfolio analytics services. His research has received awards and fellowship support from several institutions, including the Ford Foundation, the Russell Sage Foundation and the Penn Lauder Center for International Business Research.

Another Pause for Retail Properties 
Vacancies for neighborhood and community centers were unchanged during the third quarter and now stand at 10.5 percent, just 60 basis points below the peak vacancy of 11.1 percent, recorded during the third quarter of 2011.
Have Apartment Fundamentals Peaked? 
With vacancy declines slowing to a crawl and rent increases constrained by meager wage growth, market observers are wondering whether apartment fundamentals have peaked.
E-Commerce and the Evolution of Warehouse/Distribution Space 
More than a decade since the rise of the internet in the 1990s, e-commerce has officially become the bogeyman for the traditional retail industry. Executives are hard at work incorporating internet retailing platforms within their firms' existing structures under pressure from shareholders, though some are finding the task far from simple. Property owners are consumed with managing the fallout from the bankruptcies of major retailers and the trend toward smaller physical stores.
Office Vacancies Remain Elevated 
With the labor market unable to generate significant office-using employment, demand for space remains muted.
Despite Ongoing Headwinds, Retail Recovery Trudges Onward
While overall economic growth remains slow, consumers appear to be weathering the storm. This is particularly impressive given the one-two punch of higher taxes and spending cuts facing the country’s consumer base. Retail sales growth, though inconsistent, has generally remained positive. However, these favorable indicators have not translated into significant or consistent absorption of neighborhood and community shopping center space. The limited demand that exists is primarily for smaller units of less than 5,000 sq. ft. while landlords continue to have a more difficult time leasing larger boxes.
Multifamily Occupancy Gains Grind to a Halt
Preliminary second quarter data from Reis indicates a decline in the rate of net absorption and a stalling of declines in vacancy.
Slow Going for the Industrial Space
Industrial fundamentals continued to improve in the first quarter of 2013, but at a slower rate than was exhibited in the last half of 2012.
Running to Stand Still: The Office Sector Sees Marginal Improvements
National office vacancies remain 450 basis points above the sector’s cyclical low, recorded in the third quarter of 2007.
Multifamily Fundamentals Do Not Face a Cliff
Demand for apartments will remain strong, and will rise further if economic growth quickens.
Are Suburban Office Markets Making a Comeback?
Suburban office markets seem to be picking up steam.
A Coming Deluge of Apartment Construction
There are indications that anywhere from 150,000 to 200,000 units under construction in the top 79 markets that Reis tracks, with approximate completion dates from late 2012 to 2013. That is more than triple the rate of inventory growth in 2011.
Is the Retail Recovery Finally Here?
The latest data through February 2012 provides evidence that a broad-based recovery for retail properties may finally have commenced.
Will Rollover Risk Sink the Office Recovery in 2012?
As leases signed at the peak of the market expire, will office markets face a challenge?
Why All Is Not (Uniformly) Rosy in the Apartment Sector
Challenges face even the hottest commercial property sector.
The Have and Have-Not World of Retail
Recovery in the retail sector has lagged overall, but some sectors have performed better than others.
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