IRR rang in 2014 with a flurry of positive activity as we launched our highly anticipated Viewpoint 2014 report and added four new MAI-designated appraisers to our ranks. During the first few weeks of the new year, media outlets across the country sought out our experts to gather insights on everything from skyscraper values to self-storage demand. Here’s a recap of some of January’s biggest real estate activity and the media coverage we garnered as a result.
A look at commercial real estate in 2014
We released our annual Viewpoint 2014 report in early January. The report predicts real estate values to rise during the next three years, with improved property fundamentals expected to drive an upward trend in values and further establish the real estate sector as a safe harbor for investors in search of yield in the current low-interest-rate environment.
The signature report provides data, analyses, and forecasts about local and national market conditions throughout the United States, and has become known as a leading resource in the commercial real estate industry throughout its past 24 installations. The Dayton Business Journal, for example, recently turned to our data to provide an overview of the local industrial sector while Inside Self-Storage examined national self-storage trends through the lens of our analysis. The Memphis Business Journal also used the Viewpoint report to illustrate the state of the CRE landscape in Tennessee while Real Estate Bisnow Houston editors employed the data to examine a potential cap rate trough in the region.
To read more about the release of Viewpoint, check out our blog post from earlier this year.
A changing city skyline
Philadelphia made big headlines last month when cable giant Comcast announced plans for the construction of the new Comcast Innovation and Technology Center in the heart of downtown. When completed, the tower will stand 1,121 feet tall, becoming the eighth tallest building in the country. The New York Times turned to one of our Philly experts, Michael Silverman, for insights on Philadelphia’s commercial real estate market and to discuss the rising demand for office space in the city.
While the new Comcast building means big news for Philadelphia’s office sector, analysts are speculating how this development might impact the city’s hotel sector, with specific regard to the Four Seasons’ relocation to the top floors of the new skyscraper. The Rittenhouse Hotel is currently renting out some of the priciest rooms in the city, but as The Inquirer discovered from IRR Senior Managing Director Joseph Pasquarella, the new Four Seasons is likely to steal that title.
We’re off to a strong start in 2014 and looking forward to a landmark year here at IRR. Be sure to check back on our blog for regular updates from our experts and to see not only where we’ve been, but where we’re leading the industry in the future.
via:http://blog.irr.com/2014/02/10/integra-realty-resources-january-news-a-look-at-commercial-real-estate-in-2014-and-the-next-big-skyscraper-to-hit-the-us/
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