Warehouse Oversupply?

New warehouse supply has reacted robustly to the current strength of demand in Europe. As a result, completions have recently reached nearly double the levels at the height of the last cycle. We address here whether there is a risk that future supply could produce a surplus, or whether take-up will continue to be sufficient

Investors & Occupiers Test Agile Space Strategies

From coworking initiatives to shorter lease terms and the provision of space through service agreements, investors and occupiers are intent on finding the best ways to respond to changing economic and business conditions in an agile manner. Following are the key findings of CBRE’s upcoming Global Investor Intentions and Global Occupier surveys for 2018: 45%

The Battle Between Secular Elephant and Cyclical Bear Heats Up

Twenty years ago, cap rates in major European markets were consistently 200 to 300 basis points (bps) lower than those in the U.S. While many local-market-specific factors contributed, the big global reason for the disparity was that the flow of money across the world and the influx of institutional capital to the real estate sector

The Race for the Next Seattle

Seattle is the only market I’ve ever seen advance from secondary to primary market status. There are a few other secondary cities that are nipping at its heels, led by Austin, Denver and Nashville in the U.S., and Sao Paolo, Brazil and Montreal, Canada in the Americas.  Other cities that are clawing their way to

In Fine Form

The global economy began 2018 in its best shape since the Great Financial Crisis ended in 2009. All the major economic regions are growing at or above trend, and economic policy—both fiscal and monetary—remains expansionary. Recent tax cuts and a booming stock market in the United States have created a high degree of business and

The Evolution of BTR

Over the past couple of years, financial investment in the UK’s build-to-rent (BTR) sector has finally translated into the first generation of bespoke, professionally managed rental accommodation. The total capital committed to the sector in 2017 broke the £2bn barrier for the first time and there are now more than 19,000 completed BTR units across

The Future of Sale and Leasebacks

IFRS 16, has stimulated increasing sector and press speculation regarding the future of Sale and Leaseback (“S&LB”) activity. With almost all leases now destined for the balance sheet, a S&LB will usually no longer be considered a form of pure off-balance sheet financing. Several commentators have considered this sufficient to pronounce the early death of

Global Investment Spikes

Global commercial real estate investment volume (single-asset, portfolio and entity-level transactions) totaled US$275 billion in Q4—the highest level

A Real Highwayman’s Farewell

“The highway’s jammed with broken heroes on a last chance power drive” – Bruce Springsteen, Born To Run I

Take the Money and Run (from Bitcoin)?

“Imagine there’s no countries” – Imagine, John Lennon In May 2017, 300,000 computers worldwide were infected with “Wanna Cry” ransomware, whose creators demanded $300 worth of bitcoin to unlock the computers of unsuspecting users or risk permanent damage. The virus was so serious that it temporarily knocked out the computer network of Britain’s National Health Service