Financial Blog

MVEDA highlights commercial real estate

Lohman continues to be ground zero for retail development, McMillan said. But tenants will be required to broaden their site selection playbook due to lack of opportunity.

Development around the new Wal-Mart Neighborhood Market is expected to spur more growth. Also, on the East Mesa, The Game II is under construction, Sonic has purchased land and several other lots have sold in the surrounding area, McMillan said. And the work to build a new Good Samaritan nursing home will likely draw additional need for commercial space in the area.

Medical office space will be increasingly in demand as a result of development by Memorial Medical Hospital, MountainView Hospital and the Burrell College of Ostepathic Medicine.

Kary Bulsterbaum, of Steinborn TCN Commercial Real Estate, said 2016 was very active and housing is off to a great 2016 start.

The market is evolving due to the changes in medical landscape and some industry segments like manufacturing, Bulsterbaum said. And there is an increasing demand for national, regional, state and local retailers to expand existing businesses or to enter the market as commercial needs change. Two areas to watch are retail and dining.

Construction is showing signs of a rebound, with lot sales and new home starts up. There are also signs that, once again, Las Cruces may become more of a retirement destination, with sales of upscale homes on the rise. The commercial demand, Bulsterbaum said, is for high-quality office space.

The city has shown a 2.4 percent job growth rate in 2015, 1.5 percent annually since 2010. Combined with 12 percent population growth since 2010 and double-digit growth expected by 2020, the demand for commercial space and especially mulit-family housing is going to grow.

Development around the New Mexico State University campus, including off-campus housing and potential commercial ventures on the eastern edge of campus -- including Arrowhead Park and the areas near the golf course -- also hold potential, Blusterbaum said.

Will available land lease options at University and Telshor put the retail and medical world on notice? Blusterbaum asked. Spec space at Arrowhead is pending. Is Pan Am Plaza about to see major changes? Will the hotel near the convention center be a game changer?

While those questions remain to be answered, one thing is certain.

Change is coming to the Las Cruces commercial markets.

Jason Gibbs may be reached at 575-541-5451 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Follow him on Twitter @fjgwriter.

Shanghai's real estate market cools amid the festival

NEW home buying sentiment fell for the second consecutive week as the three-day Dragon Boat Festival put some potential buyers on the sideline.

The area of new residential properties sold, excluding government-funded affordable housing, fell 17.3 percent to 208,300 square meters last week, Shanghai Homelink Real Estate Agency Co said in a report released today.

These new houses were sold for an average 34,832 yuan (US$5,276) per square meter, a week-over-week decrease of 8.5 percent.

Notably, supply plunged during the seven-day period with only one project, or 30,600 square meters of new homes, being released to the local market, a week-over-week drop of 80.8 percent, Homelink data showed.

The weekly supply of new homes fell to the lowest in more than two months, indicating sluggish momentum among real estate developers as July and August, a traditional low season for property sales in Shanghai mainly due to the extremely hot weather, are around the corner, said Lu Qilin, director of research at Shanghai Homelink. However, no significant retreat in home price should be expected though tightening measures implemented recently did help cool down the market.

Across the city, outlying Jiading and Fengxian districts led all with each of them securing three projects in the top 10 list. Among the 10 best-selling developments, nine are located in suburban areas and only three cost more than 30,000 yuan per square meter, explaining therefore the fall in average price, Homelink data showed.

Biggest real estate investor in Romania loses key manager

Romanian executive Tiberiu Smaranda will step down as executive manager of South-African investment fund New Europe Property Investments (NEPI), the biggest real estate investor in Romania, starting September 1, 2016.

34-year old Smaranda, who has been in charge of NEPI's retail developments, including asset management and maintaining relationships with key tenants, has decided to pursue new business opportunities.

Smaranda has been working for NEPI since 2009. He will stay at the helm of the fund for two more months for a smooth transition, according to an announcement by NEPI. The fund's board of directors is currently evaluating several candidates for the executive manager job.

NEPI recently lost another important manager as Lori Collin, the executive in charge with the fund's office developments and investment, also left the company.

In August 2015, South-African Martin Slabbert, the man who built NEPI, left the fund. He was replaced by young Romanian Alexandru Morar as CEO. Victor Semionov, NEPI's operating manager also left the company together with Slabbert.

NEPI is the biggest real estate investor in Romania. The fund had 34 properties worth EUR 1.81 billion in its portfolio at the end of 2015. Most of these properties were in Romania, including Mega Mall and Promenada Mall, two of Bucharest's most popular shopping centers.

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A Look Inside This 'Leaking, Steaming Bag Of Real Estate'

"We will not hand you a leaking, steaming bag of real estate. Tom DeRosa, CEO of Welltower, Inc.

Anybody can sell garbage, but the real question is, what if its worth more than that? Lauralee Martin, CEO of HCP, Inc.

The purpose for the spin is to "take the overhang (out) that doesn't allow the real HCP to show and shine".

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