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Events
GreenBuild 2007
November 7-9, 2007
Chicago
American Resort Development Association's Fall Conference
November 7-9, 2007
Washington, D.C.
NAREIT Annual Convention
November 14-16, 2007
Las Vegas
Toronto Real Estate Forum
November 27-29, 2007
Toronto
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1,900
employees
45 offices,
28 countries
$59
billion in assets
$78 billion
served assets
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Reducing the Carbon Footprint
U.S. companies are increasingly interested in reducing their carbon emissions because of the financial, social and environmental benefits. Commercial buildings account for nearly 40 percent of all carbon emissions in the nation, and that's why so many commercial property owners are now focused on their "carbon footprint" – a term used to describe how much CO2 emissions a company produces.
"Commercial buildings are one of the biggest producers of CO2 emissions in the United States," says Scott Lyle, first vice president of operations for Arden Realty Inc., a Los Angeles-based real estate owner that has won four EPA Energy Star Partner of the Year Awards. "There's a lot of opportunity in the commercial real estate industry to reduce CO2 emissions, especially with existing buildings."
Read Article...
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Mexico's Housing Market – Demand continues to grow
With its young, growing population, strong economic growth and expanding mortgage and consumer credit markets, Mexico is becoming one of the top locales for real estate investment – both residential and commercial.
Although Mexican real estate has historically been owned by local occupiers, investors and entrepreneurs, more and more foreign investors are entering the country, which boasts the world's 13th largest stock of commercial real estate valued at $200 billion, according to Jones Lang LaSalle.
"Today there are about 30 institutional investors actively looking to place capital," says Pedro Azcue, president & CEO of Jones Lang LaSalle Latin America. "Compared to five years ago, we probably had just 10 investors, and we didn't have any 10 years ago."
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Tax Strategies – Accelerated depreciation for leasehold improvements
A valuable tax provision that temporarily allows leasehold improvements to be depreciated over 15 years will be available only until the end of this year unless Congress agrees to extend it or make it permanent.
Commercial real estate owners who want to take advantage of this deduction need to get leases finalized and leasehold improvements done by Dec. 31, 2007. Any improvements completed after that date are scheduled to revert back to the standard 39-year depreciation schedule.
"The basic argument for this provision is that leasehold improvements typically don't last longer than 15 years before they're replaced," says Carl Staiger, a partner with Meyer, Unkovic & Scott LLP, a Pittsburgh, Pa.-based law firm. Read Article
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New York City is the "hottest commercial real estate market in the country and the "ultimate American 24-hour city," according to the annual Emerging Trends in Real Estate 2008 report produced by the Urban Land Institute (ULI) and PricewaterhouseCoopers LLP.
The report says that vacancies in New York are in the mid-single digits, rents have skyrocketed and pricing is at all-time highs. And while the market may have peaked recently, the weak dollar actually makes the city’s "monster" prices look cheap to foreign investors who are pouring and parking money into Manhattan real estate.
More...
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Shanghai, Singapore and Tokyo rank as the three most promising Asia Pacific cities in terms of real estate investment prospects, according to the Emerging Trends in Real Estate Asia Pacific 2008 report recently published by the Urban Land Institute (ULI) and PricewaterhouseCoopers LLP. The three cities also received high ratings for development potential, reflecting their status as prominent global gateways.
"It is expected that even greater amounts of capital will be flooding Asia Pacific real estate markets in 2008," says KK So, Asia Pacific real estate tax leader of PricewaterhouseCoopers. "The real challenge for investors will lie in finding the right assets against the backdrop of yield compression and scrutiny by regional governments and tax authorities."
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A large majority of companies around the world view sustainability as critical to their business and are willing to pay a premium to help their companies become more sustainable, according to a watershed survey called "Sustainability Perceptions and Trends in the Corporate Real Estate Industry."
The survey, conducted by CoreNet Global, an international association of workplace and corporate real estate executives, and Jones Lang LaSalle, queried more than 2,300 real estate professionals. It found that 79 percent of respondents see sustainability as a near-term business issue that’s important today, or one that will be important in the next one to two years.
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