Thursday, December 13, 2018

Luxury Floating Homes in Dubai on PBS' Impossible Builds


The first unit of a luxury community of floating homes, with bedrooms that offer a submerged view of sea life and coral, debuted in Dubai in 2016. The project was featured on Impossible Builds, a series on PBS, which featured the construction and test float of the first unit. Each one is priced at $3.5 million, according to the program.  But it has a coral reef built on it.

One early investor, no surprise, is Richard Branson.

The are many tricky parts to this particular floating house.  The main one is keeping the water out of the submerged bedrooms.  After that, the most important facet is getting the ballast right. 

The homes are not safe to use in wavy conditions, and transportation from the construction area to the home's site is hazardous. 

The only downsides are that you need a boat to get to your floating paradise, and the underwater window wall has to be cleaned by divers every day to keep barnacles from growing on it. That probably adds to the HOA fees.  But the view is amazing.   

PBS is airing the program in the Jacksonville, Florida, market several more times this week.






Wednesday, December 12, 2018

18 Commercial Real Estate Trends To Dominate In 2019



1. Opportunity Zones Craze To Persist
As investors await finalized guidance from the Department of the Treasury and the IRS regarding the Opportunity Zone program, the hunt is on for assets and investment opportunities in these designated areas that present the strongest upside potential. Investors are lining up to pour billions into Opportunity Zone Funds, with a report from Real Capital Analytics stating there is more than $6 trillion in unrealized capital gains eligible to be deployed into opportunity zones. 
While the program was created through the passing of the Tax Cuts and Jobs Act last year to drive economic development in underserved communities in exchange for a hefty tax break, research reveals many of the census tracts classified as opportunity zones have already attracted a substantial amount of investment prior to the launch of the new federal program. Critics of the program worry it will accelerate investment in areas already experiencing a surge in development activity, leading to a convergence of investment into burgeoning neighborhoods already in high demand, and a lack of investment in otherwise blighted communities. 
2. Industrial Boom To Continue Thanks To High Demand From E-Commerce Players, Though A Few Headwinds May Surface
Industrial real estate demand soared to new heights this year, and CBRE Head of Industrial Research David Egan expects more of the same in 2019.
“I think the market has outperformed this year, at least from user activity. There has been a general expectation for a number of years that this can’t continue, and it turns out that hasn’t been true. We have a massive amount of demand on the market for logistics properties of all types; obviously the Class-A big-bulk warehouses are what get most of the attention, but the demand is very broad-based and extending all the way down to secondary and tertiary markets,” he said. “My expectation in 2019 is that we should see more or less of the same dynamic.”
Net absorption is expected to average between 75M SF and 94M SF, same as this year, according to CBRE's 2019 Outlook report, and a lack of new supply has driven vacancy levels down to 4.3%, a historic low. 
“Based on the demand that we're seeing from the e-commerce sector — as well as from traditional brick-and-mortar retailers that are entering or expanding in the online space — we can fully expect that e-commerce will continue to drive the market next year,” Bridge Development Partners President Anthony Pricco said. “This is especially true for infill sites proximate to the major population centers. While the rising costs of land and construction could be viewed as emerging market headwinds, the upside of industrial development is still exceptionally strong, as rents have been appreciating at an even faster pace.”
Egan told Bisnow he would not be surprised if net absorption tapered off in 2019 due to new supply not keeping pace with robust demand levels.
“You can only absorb what’s available,” said. "While we expect to see supply-demand relatively in check, those growth metrics will still be positive.”
3. Federal Reserve To Gradually Boost Interest Rates Due To The Strength Of The Economy
With robust jobs growth continuing to increase at a healthy clip and the unemployment rate steady at 3.7%, a 50-year low, Fed officials hint that they will likely continue their course of action in 2019 to gradually boost short-term interest rates to temper inflation and maintain a stable economy.
“Inflation exists above the Fed’s target of 2% to 2.5%, with more job openings than unemployed and more homebuyers than new housing inventory. The Fed sees inflation ahead first and foremost and will continue on a hike-pause-hike-pause pattern in 2019 as long as GDP remains above 2.0% and unemployment below 5%,” CCIM Institute Chief Economist K.C. Conway said.
The Fed boosted rates three times this year to a range of 2% and 2.25%, and many expect central bankers to bump rates again in December. Big Wall Street banks polled by Reuters expect central bankers to boost rates another three times in 2019.
“Although the most recent Fed guidance has seemed less definitive on its future course, the market and most analysts anticipate another hike this month and two to four next year, as both inflation and wage growth exceed their targets,” Colliers International U.S. Chief Economist Andrew Nelson said. “This will ultimately translate into declines in consumer and business borrowing and curb spending and investing.”


TO READ THE REST OF THE TRENDS CLICK THE LINK BELOW:

https://www.bisnow.com/national/news/commercial-real-estate/commercial-real-estate-trends-to-dominate-in-2019-95890

Tuesday, December 11, 2018

Why we are members of BOMA!!


The BOMA Foundation serves the commercial real estate industry by fostering a future vision, forward thinking research, innovative thought and global best practices.

The Building Owners and Managers Association (BOMA) International is a federation of 88 BOMA U.S. associations and 18 international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10.5 billion square feet of U.S. office space that supports 1.7 million jobs and contributes $234.9 billion to the U.S. GDP. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge.

Property Management is like being the mayor of a small city.

BOMA International keeps you connected to the latest research, benchmarking data, trends and information on commercial real estate. Learn from the industry’s best practices and expand your knowledge through the publications available at the BOMA Bookstore and throughout the pages of this section of the website.
Property Management is like being the mayor of a small city. You are literally responsible for everything that is happening within the building. Exciting jobs with good compensation and excellent opportunities for career advancement in property and facility management, asset and portfolio management, leasing and brokerage, engineering.

Trust and knowledge for today's consumers

Today’s Today’s consumer is accustomed to researching any product or service that they plan on buying Today’s consumer is accustomed to researching any product or service that they plan on buying or using, including a prospective real estate team. The best way to attract today’s savvy consumers is to become a source of trust and authority, providing them with insights on the current market and answers with context to their unique questions.
The best real estate agents do an excellent job of educating and serving their clients with great content. The best educational content takes complex ideas (from inventory to pricing and beyond) and breaks those ideas down so that they are simple and easy to understand. When you educate buyers and sellers with great content, you position yourself as the real estate expert in your market.
Today’s consumer is accustomed to researching any product or service that they plan on buying or using, including a prospective real estate team. The best way to attract today’s savvy consumers is to become a source of trust and authority, providing them with insights on the current market and answers with context to their unique questions.

The best real estate agents and property managers do an excellent job of educating and serving their clients with great content. The best educational content takes complex ideas (from inventory to pricing and beyond) and breaks those ideas down so that they are simple and easy to understand. When you educate buyers and sellers with great content, you position yourself as the real estate expert in your market.

or using, including a prospective real estate team. The best way to attract today’s savvy consumers is to become a source of trust and authority, providing them with insights on the current market and answers with context to their unique questions.
The best real estate agents do an excellent job of educating and serving their clients with great content. The best educational content takes complex ideas (from inventory to pricing and beyond) and breaks those ideas down so that they are simple and easy to understand. When you educate buyers and sellers with great content, you position yourself as the real estate expert in your market.
consumer is accustomed to researching any product or service that they plan on buying or using, including a prospective real estate team. The best way to attract today’s savvy consumers is to become a source of trust and authority, providing them with insights on the current market and answers with context to their unique questions.
The best real estate agents do an excellent job of educating and serving their clients with great content. The best educational content takes complex ideas (from inventory to pricing and beyond) and breaks those ideas down so that they are simple and easy to understand. When you educate buyers and sellers with great content, you position yourself as the real estate expert in your market.