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# CARNM

Commercial Association of REALTORS® - CARNM New Mexico

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## Posts

- [News & Events](https://carnm.realtor/news-events/)
- [Cap Rate Discipline Defines Q2 Net Lease Market](https://carnm.realtor/cap-rate-discipline-defines-q2-net-lease-market/) - Cap rates barely moved in the second quarter, but that stability said a lot about how net lease investors are thinking: they care more about credit quality and lease term than squeezing out a few extra basis points. The Boulder Group's Q2 2026 Net Lease Market report shows a market that is steady, selective and increasingly split
- [From AI Adoption To Structural Integration In Commercial Real Estate](https://carnm.realtor/from-ai-adoption-to-structural-integration-in-commercial-real-estate/) - We have officially entered the post-novelty phase of the artificial intelligence revolution. Across the Commercial Real Estate sector in 2026, most firms have already integrated AI. They use it daily to draft routine tenant correspondence, summarize painstakingly lengthy lease documents, and accelerate preliminary market research. However, what very few have successfully achieved is true integration
- [Multifamily Recovery Stalls Under Weight Of Excess Supply](https://carnm.realtor/multifamily-recovery-stalls-under-weight-of-excess-supply/) - For multifamily investors hoping 2026 would mark a clean turn in the cycle, the reality looks more like a long, flat stretch of highway than an on-ramp to the next growth phase. Despite solid demand and plenty of capital on the sidelines, the sector's recovery is dragging as an historic construction wave keeps rents and
- [NAR Commercial Real Estate Metro Market Report | 2025.Q4 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2025-q4-albuquerque-nm/) - View the Q4 2025 NAR Albuquerque, NM Commercial Real Estate Metro Market Report. Highlights include: Demand for office space is stronger than nationwide as this area has a faster absorption of office space. As a result, rent prices rose faster than nationwide and vacancy rate is lower in this area. Demand for industrial space is
- [NAR Commercial Real Estate Metro Market Report | 2026.Q1 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2026-q1-albuquerque-nm/) - View the Q1 2026 NAR Albuquerque, NM Commercial Real Estate Metro Market Report. Highlights include: Demand for office space is stronger than nationwide as this area has a faster absorption of office space. As a result, rent prices rose faster than nationwide and vacancy rate is lower in this area. Demand for industrial space is
- [Fed Divisions And Strong Jobs Cloud Rate Outlook](https://carnm.realtor/fed-divisions-and-strong-jobs-cloud-rate-outlook/) - The latest US jobs data suggest the labor market is stabilizing but for commercial real estate the bigger takeaway is that interest rates are more likely to stay elevated or even rise into year end, keeping financing and refinancing conditions tight just as investors had begun to hope for relief. Fed Rate Path Tilts Toward
- [May 2026 Commercial Real Estate Market Insights](https://carnm.realtor/may-2026-commercial-real-estate-market-insights/) - Labor market conditions remained soft in April, as payroll growth slowed from March and employment showed little net change over the prior 12 months. The unemployment rate held at 4.3%, while wage growth remained positive but measured. Inflation rose to 3.8%, driven largely by energy prices, while shelter costs matched the monthly CPI increase but
- [Albuquerque office vacancy rate falls](https://carnm.realtor/albuquerque-office-vacancy-rate-falls/) - Albuquerque's office market holds about 13.93 million square feet of inventory. Vacancy fell to 14.25% in the first quarter of 2026, according to a Colliers report released on May 7. Overall, vacancy dropped from 15.66% in the fourth quarter of 2025 after several properties were removed from inventory for multifamily and mixed-use conversion. Colliers Senior Vice President
- [CRE Leasing Greatly Disproportionate by Market](https://carnm.realtor/cre-leasing-greatly-disproportionate-by-market/) - The year in commercial real estate so far has been mixed and uncertain, but the foundations remain solid, as JLL explained in its May 2026 Global Real Estate Perspective. The uncertainty, especially from the Iran war, is clear in such signs as the sell-off in the Treasury market, widening CRE credit spreads, the potential for Federal
- [Commercial real estate lending optimism fades as caution takes hold](https://carnm.realtor/commercial-real-estate-lending-optimism-fades-as-caution-takes-hold/) - Commercial real estate lending conditions are stabilizing, but momentum has turned more cautious. Banks have largely paused changes to commercial real estate credit standards, extending a steadying trend that first emerged in January, the Federal Reserve’s latest monthly Senior Loan Officer Opinion Survey shows. At the same time, loan demand has cooled across several commercial
- [Think Small for Big Returns](https://carnm.realtor/think-small-for-big-returns/) - Cost pressures, economic uncertainties, hybrid work and e-commerce logistics have made smaller commercial properties a hot commodity in growth markets across sectors.
- [CRE Finance Sentiment Reverses as Geopolitical Shock Erases Months of Gains](https://carnm.realtor/cre-finance-sentiment-reverses-as-geopolitical-shock-erases-months-of-gains/) - Commercial real estate finance sentiment took a sharp turn in the first quarter, as geopolitical turmoil tied to the Iran war wiped out months of improving outlook, even as underlying demand for capital and assets remains firm. The CRE Finance Council's Board of Governors Sentiment Index fell 20.2% quarter-over-quarter to 100.1, down from 125.4 in the fourth
- [UNM finalizes agreement for Lobo Crossing, advancing South Campus vision](https://carnm.realtor/unm-finalizes-agreement-for-lobo-crossing-advancing-south-campus-vision/) - The University of New Mexico has finalized an agreement for Lobo Crossing, allowing SimonCRE, a Phoenix-based commercial real estate developer, to move forward with the purchase of 38 acres of university-owned land near UNM’s sports facilities for the development. “Lobo Crossing reflects The University of New Mexico’s commitment to strengthening communities and expanding opportunity across
- [The National Observer: Office conversions surge as workplace dynamics shift](https://carnm.realtor/the-national-observer-office-conversions-surge-as-workplace-dynamics-shift/) - Office conversions hit new high. Here's why. Projects converting office towers to other uses — a buzz-generating solution to deal with empty office buildings that gained traction during the pandemic — have reached record levels, reports Andy Medici of The Business Journals. Perhaps the most-talked-about version of this type of project is one that takes
- [March 2026 Commercial Real Estate Market Insights](https://carnm.realtor/march-2026-commercial-real-estate-market-insights/) - Economic momentum softened in February. The labor market weakened further, with job declines compared to the previous month. Inflation held at 2.4%, with shelter costs still driving pressures, though easing rent trends suggest potential easing ahead. After cutting rates late last year, the Federal Reserve has kept policy unchanged, while long-term yields remain above 4
- [Why the CRE Cycle Feels Stuck in Neutral](https://carnm.realtor/why-the-cre-cycle-feels-stuck-in-neutral/) - The U.S. economy is defying easy classification. It's expanding, but without the job growth that usually defines a recovery — an "almost" economy, as BGO Chief Economist Ryan Severino described it in a recent LinkedIn post. Severino noted that the current conditions don't necessarily point to a recession, but they also lack the hallmarks of
- [Multifamily Leads Fundraising as Investors Position for 2026](https://carnm.realtor/multifamily-leads-fundraising-as-investors-position-for-2026/) - Multifamily continues to anchor CRE investment, even as capital flows broaden across other sectors. Data from Agora shows that multifamily captured nearly half of all capital raised in 2025, reinforcing its position as the industry's most consistent investment category. Housing-related assets dominated fundraising overall, the report said. When combined with other residential investments, including single-family
- [February 2026 Commercial Real Estate Market Insights](https://carnm.realtor/february-2026-commercial-real-estate-market-insights/) - Labor market conditions remained soft entering 2026, as subdued January hiring and sizable annual revisions revealed much weaker job growth throughout 2025 than previously reported. Inflation cooled to 2.4 percent in January, with shelter costs still driving much of the increase, though moderating rent trends suggest further easing ahead. After cutting rates three times late
- [America Isn’t Overbuilt—It’s Misbuilt: Rethinking Commercial Real Estate](https://carnm.realtor/america-isnt-overbuilt-its-misbuilt-rethinking-commercial-real-estate/) - For years, the prevailing narrative in commercial real estate has been simple: America is overbuilt. Too many offices. Too many strip malls. Too much supply chasing too little demand. But that diagnosis misses the real problem. America isn’t overbuilt. It’s misbuilt. We don’t have too much real estate. We have the wrong kinds of real
- [Rents Tick Up, But Apartment Market Remains Soft After Yearlong Slump](https://carnm.realtor/rents-tick-up-but-apartment-market-remains-soft-after-yearlong-slump/) - It's a mix of good and bad news for the apartment market, according to a new report from Apartment List. Starting with the positive note, U.S. rents rose in February after slipping for six consecutive months. The bad news: the 0.2% increase was not enough to turn annual rent growth positive. Instead, median rents nationally
- [Hidden Lease Risks Are Spiking as Landlords Shift More Costs to Tenants](https://carnm.realtor/hidden-lease-risks-are-spiking-as-landlords-shift-more-costs-to-tenants/) - In today's environment of high borrowing and construction costs, tenants face significant financial risks from seemingly standard lease construction provisions. These clauses must be considered closely, along with understanding the difference between capital replacements and capital improvements, lease language pertaining to common area maintenance, how the space will be used and addressing laws enacted after
- [Small town commercial property prices gain as big city real estate declines](https://carnm.realtor/small-town-commercial-property-prices-gain-as-big-city-real-estate-declines/) - Commercial real estate prices moved in different directions in January, with smaller properties posting gains as investment-grade assets extended their slide. This divergence, according to CoStar’s Commercial Repeat-Sale Indices, reveals a market dynamic playing out across the U.S. property landscape: Lower-priced assets that populate secondary and tertiary markets are outperforming high-value, big-city properties that dominate headlines
- [CoStar’s U.S. Retail Projections Remain Steady Through 2026](https://carnm.realtor/costars-u-s-retail-projections-remain-steady-through-2026/) - U.S. retail projections remain unchanged through 2026 in a just-released forecast from CoStar, the leading global provider of online real estate marketplaces, information and analytics in the property markets. Consistent with the previous forecast, which had U.S. retail vacancy peaking at just under 4.4%, the metric is expected to rise minimally in the first half of 2026
- [Apartments.com Releases Multifamily Rent Growth Report for February 2026](https://carnm.realtor/apartments-com-releases-multifamily-rent-growth-report-for-february-2026/) - U.S. apartment rents grew in February, with the national average increasing to $1,716 — a +0.1% increase from December’s upwardly revised figure of $1,714. This uptick marks a continuation of positive monthly rent change that began in December 2025, but at a moderated pace. Prior to December, the monthly trend was flat or negative for
- [How to Build Trust with Gen Z Tenants, Future Investors](https://carnm.realtor/how-to-build-trust-with-gen-z-tenants-future-investors/) - Younger multifamily residents are serious about seamless access, security and transparency. They want to know how data is used, who is allowed to enter a space and what controls are in place for a property’s visitors and deliveries. For commercial property managers and real estate agents, understanding younger audiences is vital in appealing to the
- [Multifamily Sector Positioned for Modest Growth in 2026](https://carnm.realtor/multifamily-sector-positioned-for-modest-growth-in-2026/) - A steady period of oversupply has led to lower absorption rates, and future multifamily development is slowing down in response. Bright spots are emerging in select cities. Resilient demand, new supply contraction and abundant acquisition capital are bolstering forecasts for modest growth in the multifamily sector for 2026, despite economic uncertainties, according to the Winter
- [NAR Commercial Real Estate Metro Market Report | 2025.Q3 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2025-q3-albuquerque-nm/) - View the Q3 2025 NAR Albuquerque, NM Commercial Real Estate Metro Market Report. Highlights include: Demand for office space is stronger than nationwide as this area has a faster absorption of office space. As a result, rent prices rose faster than nationwide and vacancy rate is lower in this area. Demand for industrial space is stronger than
- [RealtyAds Clarifies AI's Role in Commercial Real Estate Amid Market Volatility](https://carnm.realtor/realtyads-clarifies-ais-role-in-commercial-real-estate-amid-market-volatility/) - While investors wiped billions off CRE stocks last week, with JLL, CBRE, and Newmark all seeing 20%+ stock declines on fears that AI will disrupt traditional brokerage, RealtyAds' AI platform was powering more than 10,000 leasing campaigns across 125 markets, saving clients an average of $8,000 per month compared to traditional advertising services. RealtyAds, the
- [Tariff decision good news for commercial real estate sector, CEO says](https://carnm.realtor/tariff-decision-good-news-for-commercial-real-estate-sector-ceo-says/) - Predictability has been in short supply for global investors. The US Supreme Court’s ruling that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) exceeded presidential authority landed as a rare dose of clarity for commercial real estate – especially for owners, developers and occupiers exposed to cross‑border supply chains. Legal experts viewed the decision as a curb
- [Data center developers are zeroing in on a new target](https://carnm.realtor/data-center-developers-are-zeroing-in-on-a-new-target/) - The hundred-billion-dollar race to build artificial-intelligence data centers as fast as possible has found a new target: bitcoin miners. Across the country, so-called “mega-scalers” looking to build data centers in the gigawatt range have unlocked hundreds of billions of dollars to support an unprecedented effort to increase both the intelligence of AI products and deploy them widely. That
- [Los Alamos approves $2.8M arena renovation amid accessibility, safety concern](https://carnm.realtor/los-alamos-approves-2-8m-arena-renovation-amid-accessibility-safety-concern/) - Los Alamos County is gearing up to renovate its county arena to address accessibility issues, seating capacity and building code requirements. The Los Alamos County Council on Feb. 10 unanimously approved a task order with All-Rite Construction Inc. for a $2.8 million renovation of Los Alamos Brewer Arena at 4 N. Mesa Road. A Wilson and Company
- [Commercial Lending in the U.S. Surges 30 Percent in Late 2025](https://carnm.realtor/commercial-lending-in-the-u-s-surges-30-percent-in-late-2025/) - U.S. commercial real estate lending surged at the end of 2025, signaling renewed momentum across large segments of the property finance market as interest-rate volatility eased and banks re-entered the arena with greater conviction. Commercial and multifamily mortgage originations jumped 30% in the fourth quarter from a year earlier and climbed 25% from the prior
- [Office real estate stocks tumble as AI disruption casualties in the stock market grow by the day](https://carnm.realtor/office-real-estate-stocks-tumble-as-ai-disruption-casualties-in-the-stock-market-grow-by-the-day/) - Real estate stocks have become the latest victim of the artificial-intelligence threat. Commercial real estate brokers are selling off for a second straight day. CBRE tumbled 12.8%, a drop that Oppenheimer pointed out as especially alarming given that the only other times the stock has tumbled further was during Covid and the height of the global
- [January 2026 Commercial Real Estate Market Insights](https://carnm.realtor/january-2026-commercial-real-estate-market-insights/) - Labor market conditions continued to weaken toward the end of 2025, as hiring slowed and revised data showed weaker job growth than previously reported. In response to these conditions, the Federal Reserve shifted toward policy easing, delivering multiple rate cuts at the second half of 2025. Inflation showed signs of easing, while overall economic growth
- [Why 8 out of 10 commercial real estate brokers don’t make it](https://carnm.realtor/why-8-out-of-10-commercial-real-estate-brokers-dont-make-it/) - Commercial real estate work has a quiet but brutal statistic attached to it. Roughly 80% of new commercial real estate agents will leave the business within two years. Eight out of ten will not make it. The number surprises newcomers, but it should not. When compared with new business startups, the attrition rate is nearly
- [Office Investment Outlook Strengthens for 2026](https://carnm.realtor/office-investment-outlook-strengthens-for-2026/) - Office Demand Shifts and Divergence The Marcus & Millichap office investment forecast for 2026 signals that the US office sector has moved past its lowest point but is recovering unevenly. In 2025, office absorption hit its strongest mark since 2019, with nearly 85M SF absorbed nationwide and occupancy growth in 43 of the top 50 office markets.
- [National environmental services firm expands footprint in premier ABQ office building](https://carnm.realtor/national-environmental-services-firm-expands-footprint-in-premier-abq-office-building/) - After outgrowing its previous space, a national environmental services firm expanded its local footprint with a new, larger lease within one of Albuquerque’s premier office buildings. Hazen and Sawyer took possession of its new, approximately 3,200-square-foot office space on the fourth floor of 100 Sun Ave. NE at the beginning of January, according to Senior Principal Administrator
- [Today's Multifamily Market: Softer, Slower, But No Fire Sales](https://carnm.realtor/todays-multifamily-market-softer-slower-but-no-fire-sales/) - Apartment markets are running on a lower gear. In the latest quarterly snapshot from the National Multifamily Housing Council (NMHC), senior executives describe an environment where vacancies are no longer tightening, sales volume is modest and equity capital is behaving cautiously—while multifamily lending remains one of the few bright spots in the capital stack. The
- [Regional Banks Return to CRE Lending as Rates Ease](https://carnm.realtor/regional-banks-return-to-cre-lending-as-rates-ease/) - After several years of retreat, regional banks are dipping their toes back into commercial real estate lending—signaling fresh confidence as interest rates ease and underwriting tightens. The change marks a notable reversal from the pullback that followed the Federal Reserve's rapid rate hikes in 2022, when looser underwriting standards and rising costs made CRE lending,
- [How a government shutdown impacts multifamily](https://carnm.realtor/how-a-government-shutdown-impacts-multifamily/) - Congress ended a 43-day government shutdown on Nov. 13, 2025—the longest in in U.S. history. The continuing resolution passed that day funds the federal government only through Jan. 30, 2026, making another shutdown possible in the near term. Whether shutdowns last days or weeks, their impact on commercial real estate—particularly multifamily—follows some patterns. Understanding these patterns
- [Renter Urgency Trends Shift Across US Markets](https://carnm.realtor/renter-urgency-trends-shift-across-us-markets/) - Renter Urgency at a Turning Point The US rental market has seen a notable decline in renter urgency over the past three years, driven by rising multifamily vacancies and falling rents. According to Apartment List survey data, the share of ‘low urgency’ renters—those in no hurry to move—reached a high of 54.4% in September 2025. However,
- [Commercial Real Estate's Next Boom Comes With Familiar Risks](https://carnm.realtor/commercial-real-estates-next-boom-comes-with-familiar-risks/) - As the CRE industry enters a new big boom period in 2026 after almost four years of malaise, low transaction volume, defaults and foreclosures, investors must be cognizant of the risks inherent in the investment, financing, and development of real estate properties. The CRE investment process is a multifaceted process for analyzing, acquiring, financing, managing,
- [Trio of developers partner on Rio Rancho project with homes, rentals and retail](https://carnm.realtor/trio-of-developers-partner-on-rio-rancho-project-with-homes-rentals-and-retail/) - A trio of local developers is partnering on a mixed-use development in Rio Rancho to bring single-family homes, rentable units and commercial development to the City of Vision. The development, which is in the early stages, is a joint venture between Pierre Amestoy, Kipp Watson and Jason Buchanan for the mass grading and backbone infrastructure of the development
- [Retail vacancies climb amid big-box exits](https://carnm.realtor/retail-vacancies-climb-amid-big-box-exits/) - Big-box retail exits, demand for medical office space and continued low industrial vacancy rates dominated 2025 headlines and commercial real estate trends in Albuquerque. Last year also saw the continuation of the medtail trend, the repositioning of office assets into other uses and the flight to quality across multiple asset classes. Albuquerque Business First spoke
- [The 2026 Retail Forecast: Not Too Different from 2025](https://carnm.realtor/the-2026-retail-forecast-not-too-different-from-2025/) - The pandemic’s aftermath saw yet another prediction of retail’s demise. But fast-forwarding half a decade, and retail has been a robust commercial real estate asset class. Despite the current K-shaped economy, shopping cutbacks from lower-income households and uncertain consumer sentiment, experts told Connect CRE that the sector is entering 2026 in decent shape. While other
- [The CRE Debt Wall Looms Once Again: But Don’t Panic](https://carnm.realtor/the-cre-debt-wall-looms-once-again-but-dont-panic/) - During the late 2010s and early 2020s, low-interest-rate mortgages and short-term loans were rampant. However, the Federal Reserve’s rapid increases in the Effective Federal Fund Rate in 2022 and 2023 sparked fear that refinancing these loans would be difficult once they matured. This has led to several years of gloom-and-doom prophecies about the “wall of
- [Lincoln Avenue Communities closes on former Wells Fargo building for housing conversion](https://carnm.realtor/lincoln-avenue-communities-closes-on-former-wells-fargo-building-for-housing-conversion/) - Two major downtown Albuquerque office towers — including the former Wells Fargo tower — are being transformed into hundreds of apartment units, with one project entering grant negotiations and another breaking ground near the start of the year. The Albuquerque Metropolitan Redevelopment Agency and a developer recently provided an update on the status of two
- [Playbook for 2026: Opportunity Zones program faces major changes](https://carnm.realtor/playbook-for-2026-opportunity-zones-program-faces-major-changes/) - The federal Opportunity Zone program is undergoing a major transition in 2026, leaving businesses only a few more months to prepare for what's ahead. The Opportunity Zone program, introduced during President Trump's first term as part of the Tax Cuts and Jobs Act of 2017, by definition aims to "spur economic growth and job creation in
- [Meta acquires 474-acre parcel adjacent to Los Lunas data center](https://carnm.realtor/meta-acquires-474-acre-parcel-adjacent-to-los-lunas-data-center/) - California-based tech giant Meta is apparently significantly expanding its Los Lunas campus through a recent acquisition of 474 acres of land next to its existing data center. CBRE’s Matt Butkus and Trevor Hatchell confirmed they brokered the sale of the 474-acre property, which closed the week of Dec. 22, but they did not disclose the buyer. The land is adjacent to
- [Commercial real estate in 2026: How the market is taking shape](https://carnm.realtor/commercial-real-estate-in-2026-how-the-market-is-taking-shape/) - As the new year begins, the commercial real estate sector is continuing to take shape amid shifting economic conditions and evolving business needs. The commercial real estate market is showing signs of stabilization and a renewed emphasis on fundamentals. Owners, developers, and lenders are entering this next phase with greater clarity around demand, pricing, and
- [Here’s what to expect for commercial real estate in 2026](https://carnm.realtor/heres-what-to-expect-for-commercial-real-estate-in-2026/) - The 2025 economy wasn’t as robust as anticipated — and that’s shaping the commercial real estate outlook for 2026. The economy has slowed down, unemployment is up and construction has taken a bit of a breather across most sectors. This year saw increases in both tariffs and immigration restrictions. Together, those have raised costs for
- [A commercial real estate expert’s predictions for 2026](https://carnm.realtor/a-commercial-real-estate-experts-predictions-for-2026/) - Happy 2026, dear readers. I trust the end of 2025 came and went peacefully and that you are restored, rested and ready to tackle the year ahead. 2025 marked a personal milestone for me with the launch of my first book, The SEQUENCE, a Personal Journey and Proven Framework for Commercial Real Estate Brokerage Success.
- [November 2025 Commercial Real Estate Market Insights](https://carnm.realtor/november-2025-commercial-real-estate-market-insights/) - Labor market conditions continued to lose momentum, as revised payroll figures and a gradual uptick in unemployment indicated further cooling. With inflation readings on pause and hiring activity moderating, the Federal Reserve will likely proceed to another cut in December to support economic conditions. In response, longer-term interest rates have edged lower, providing early financial
- [2025 Federal Economic Area Report](https://carnm.realtor/2025-federal-economic-area-report/) - Read the current Federal Economic Area Report provided by CARNM and RPR. This report offers real estate professionals a window into demographics and consumer behavior in the state of New Mexico. View the report here.
- [CRE Pricing Turns the Corner, but Recovery Remains Uneven](https://carnm.realtor/cre-pricing-turns-the-corner-but-recovery-remains-uneven/) - Commercial real estate values are stabilizing rather than sharply rebounding, with office emerging as an unexpected bright spot in the third quarter, according to Trepp’s latest Property Price Index (TPPI). Despite pressures from tariffs, inflation and elevated financing costs, steady job growth and low unemployment continue to support demand across most sectors. Trepp noted that
- [Multifamily and Industrial Set for Vacancy Drops in 2026](https://carnm.realtor/multifamily-and-industrial-set-for-vacancy-drops-in-2026/) - The U.S. commercial real estate market is poised to enter 2026 with stabilizing fundamentals, stronger investor confidence and transaction volume projected to rise 15–20%. Across sectors, leasing and sales activity are gaining momentum, with pricing largely finding a floor and cap rate spreads normalizing, according to Colliers' 2026 Commercial Real Estate Outlook Report. Multifamily remains
- [Agents Find a ‘Green Advantage’ in Commercial Real Estate](https://carnm.realtor/agents-find-a-green-advantage-in-commercial-real-estate/) - A new NAR survey finds that sustainability can be a competitive edge for commercial buildings, as clients increasingly prioritize energy efficiency, resilience and certified green features. Sustainability isn’t just a trend—it's becoming a competitive differentiator in commercial real estate. Client expectations for sustainable features are rising fast, according to the National Association of REALTORS®’ 2025 REALTORS®
- [The Top 10 Issues to Watch in Commercial Real Estate in 2026](https://carnm.realtor/the-top-10-issues-to-watch-in-commercial-real-estate-in-2026/) - At NAR NXT, the Counselors of Real Estate shares its annual look at the top-of-mind issues pressing on commercial real estate in the year ahead. The commercial real estate market is entering a year of opportunity and challenge, influenced by economic uncertainty, shifting population trends and continued technological innovation. The Counselors of Real Estate, a global
- [Healthcare Real Estate Activity Slows, Led by MOB and Hospital Trades](https://carnm.realtor/healthcare-real-estate-activity-slows-led-by-mob-and-hospital-trades/) - Medical real estate investment transaction activity across the United States has been subdued during the past 12 months ending September 2025. Just over 1,000 properties traded at values above $2.5 million, according to new data from Revista. This total reflects a muted pace relative to the sector’s historical averages, continuing a trend shaped by shifting
- [Retail Leads October CRE Gains as Office Stabilizes and Industrial Normalizes](https://carnm.realtor/retail-leads-october-cre-gains-as-office-stabilizes-and-industrial-normalizes/) - The CRE landscape showed diverging trends in October, with retail continuing to outperform, office recovery remaining selective, industrial normalizing after a supply surge, and multifamily adjusting to late-cycle supply pressures, according to Crexi’s October CRE report. Retail was the strongest-performing sector for the month. Sold pricing jumped 8.49% from September to $237.93 per square foot,
- [Logistics Real Estate Hits a Turning Point in Q3 2025](https://carnm.realtor/logistics-real-estate-hits-a-turning-point-in-q3-2025/) - Logistics real estate fundamentals in Q3 2025 indicate an inflection point in operating conditions. Net absorption, new lease signings, build-to-suit activity and the proposal pipeline all reached healthier levels compared with 2024, according to Prologis’ industrial sector analysis. While demand has improved, it has not yet returned to normalized levels. The Prologis IBI Activity Index
- [How Cap Rate Drift Is Reshaping Office Negotiations](https://carnm.realtor/how-cap-rate-drift-is-reshaping-office-negotiations/) - Interest rate volatility is rewriting the calculus for commercial real estate cap rates, particularly in the office sector, where the bid-ask spread has been a persistent obstacle for dealmakers. According to the latest TreppWire podcast, the Federal Reserve’s latest moves have again raised the term premium, driving yields higher on the long end and, albeit
- [October 2025 Commercial Real Estate Market Insights](https://carnm.realtor/october-2025-commercial-real-estate-market-insights/) - In September 2025, U.S. job growth remained sluggish, with only modest gains, and unemployment edged higher. Recent labor revisions pointed to fewer jobs than previously estimated, underscoring a softer employment landscape. Inflation remained above the Fed's target, though cooling rents suggest some relief ahead. In response to slower job creation, the Federal Reserve delivered a
- [Retailers Brace for SNAP Disruption as Government Shutdown Continues](https://carnm.realtor/retailers-brace-for-snap-disruption-as-government-shutdown-continues/) - Some retailers could face slower sales if the ongoing government shutdown disrupts the Supplemental Nutrition Assistance Program (SNAP), which provides food benefits to roughly 42 million Americans, according to a CNBC report. Recipients of the government program receive an average of about $187 per month. Wolfe Research analyst Spencer Hanus said a funding lapse could
- [Industrial Cap Rates Edge Up, But Sector Shows Resilience](https://carnm.realtor/industrial-cap-rates-edge-up-but-sector-shows-resilience/) - Transaction velocity in the industrial sector over the past year has supplied a nuanced signal to commercial real estate investors. Despite a modest dip in total warehouse deal volume, investor demand for high-quality logistics assets remains apparent. According to Savills' data, sales volumes this year have consistently hovered above pre-pandemic averages: In 2025, quarterly warehouse
- [Manufacturing Faces Major Shifts as Tax Law Changes Take Effect](https://carnm.realtor/manufacturing-faces-major-shifts-as-tax-law-changes-take-effect/) - Manufacturers across the U.S. are bracing for a wave of change as sweeping tax law reforms reshape the industry’s landscape. The recently enacted One Big Beautiful Bill Act is set to dramatically alter how companies invest in domestic production, with new incentives aimed at making U.S.-based manufacturing more competitive. According to Yardi Matrix, the law’s
- [Multifamily Operators Warn of Fragile Stability Despite Brighter 2025](https://carnm.realtor/multifamily-operators-warn-of-fragile-stability-despite-brighter-2025/) - Multifamily housing owners entered 2025 with cautious optimism but remain uneasy about the road ahead, according to a new report from the Federal Reserve Bank of Minneapolis. The bank’s interviews with 32 rental housing providers found improved stability compared with last year, yet most described that progress as “hard-won and fragile.” The survey, conducted over
- [Multifamily Relief, Office Momentum Mark CRE Reset](https://carnm.realtor/multifamily-relief-office-momentum-mark-cre-reset/) - After a turbulent stretch marked by surging construction and uneven demand, the commercial real estate market is beginning to find balance. A new report from Marcus & Millichap indicates early signs of stabilization across major property types, with multifamily pressures easing, office absorption firming, industrial working through excess supply and retail holding steady. The multifamily
- [CRE Set for Double-Digit Gains in 2026 Amid Expected Transaction Surge](https://carnm.realtor/cre-set-for-double-digit-gains-in-2026-amid-expected-transaction-surge/) - As 2025 draws to a close, commercial real estate executives are increasingly turning their attention to the outlook for the year ahead. Despite the turbulence that characterized much of 2024 and early 2025, the latest insights from CBRE’s research head, Henry Chin, suggest that double-digit transaction volume growth is no longer an improbability—it is shaping
- [September 2025 Commercial Real Estate Market Insights](https://carnm.realtor/september-2025-commercial-real-estate-market-insights/) - In August, the economy showed mixed signals as markets looked ahead to the Federal Reserve’s widely expected rate cut in September. Job creation slowed, reinforcing the case for policy easing, while inflation ticked up to 2.9%, remaining above the Fed’s target. At the same time, overall economic growth remained solid. Despite this resilience, rising concerns
- [CRE Leaders Talk Low Supply and Robust Logistics Sector](https://carnm.realtor/cre-leaders-talk-low-supply-and-robust-logistics-sector/) - The past couple of years or so have been a challenging environment for many CRE players to operate in — with high interest rates and now tariffs causing volatility and uncertainty. However, some see favorable conditions in their footprint and opportunities to play offense. This was a sentiment shared during a panel at CREtech New York
- [Rental Affordability Rises As Rent Growth Slows](https://carnm.realtor/rental-affordability-rises-as-rent-growth-slows/) - A Shift In Rent Dynamics After years of rapid rent growth, construction is finally catching up to demand, reports Zillow. The US rental market is showing signs of cooling. Affordability is improving in most major metros. A key driver is the surge in new apartment completions in 2024 — the highest in any year since 1974. The
- [Multifamily Distress Escalates Amid Rising Capital Inflows](https://carnm.realtor/multifamily-distress-escalates-amid-rising-capital-inflows/) - Investor Demand Remains Strong—For Now Multifamily investment activity is rising again, according to industry leaders at a recent Mortgage Bankers Association (MBA) roundtable, reports GlobeSt. Chad Musgrove of M&T Realty Capital Corp. said spreads on multifamily loans have tightened. Current pricing falls in the 200–250 basis point range for moderate-leverage deals (65–70%). Higher leverage loans are
- [A Smarter Way to Fund Tenant Improvements](https://carnm.realtor/a-smarter-way-to-fund-tenant-improvements/) - In today’s market, tenant improvement allowances (TIAs) can be the difference between winning and losing a long-term, creditworthy tenant. They streamline the move-in process, provide tenants with space that fits their needs, and give landlords a competitive edge over comparable properties. The challenge: high costs and long timelines have made TIAs less attractive for owners,
- [Commercial real estate’s seismic transformation is creating new winners—and losers— in the property market](https://carnm.realtor/commercial-real-estates-seismic-transformation-is-creating-new-winners-and-losers-in-the-property-market/) - There’s no doubt that commercial real estate, and especially the office market, is undergoing a seismic transformation, one that’s not likely to abate any time soon. A boom time of near-zero-interest-rate policy, abundant liquidity, and cap rate compression over the past decade has given way to a perfect storm–a wall of maturing debt, tightened lending
- [Commercial Real Estate Market Shows Signs Of Recovery As Bid Intensity Increases](https://carnm.realtor/commercial-real-estate-market-shows-signs-of-recovery-as-bid-intensity-increases/) - Economic uncertainty led to a slowdown in the commercial real estate market earlier this year, but one indicator has finally ticked up. This suggests signs that capital is returning to the commercial real estate market, which may be a positive sign for investors. Although there is still uncertainty, investors may have reason to be optimistic
- [2026 commercial real estate outlook](https://carnm.realtor/2026-commercial-real-estate-outlook/) - Macroeconomic volatility and policy uncertainty may put the CRE industry recovery on pause, but not for good In last year’s commercial real estate outlook, we anticipated that 2025 could mark a recovery for the global CRE industry—buoyed by an expected return of deal activity, more favorable lending terms, greater industry collaboration, and advances in artificial intelligence.
- [Smaller Tenants Lead Industrial Leasing as Big Users Hold Back](https://carnm.realtor/smaller-tenants-lead-industrial-leasing-as-big-users-hold-back/) - Industrial leasing in the U.S. has shifted decisively in 2025, as smaller tenants and regional manufacturers step in to drive activity while large users and major investors remain cautious in the face of prolonged trade and economic uncertainty, according to CBRE’s latest analysis. CBRE says that smaller user activity has become the primary driver of
- [Decade of Office Performance Shows Sharp Contrasts in Revenue and Expense](https://carnm.realtor/decade-of-office-performance-shows-sharp-contrasts-in-revenue-and-expense/) - Office performance data over the past 10 years reveals headline figures that conceal deeper divergence, with revenues growing for only certain subtypes and geographies, while fixed and variable costs added pressure in some areas and relief in others, according to a Trepp analysis of operating expenses. Across the country, sector property revenue increased by a
- [Net Lease Finds Its Moment as Institutional Investors Flood the Sector](https://carnm.realtor/net-lease-finds-its-moment-as-institutional-investors-flood-the-sector/) - The net lease sector is moving through a defining transition, one shaped not just by market cycles but by evolving investor sophistication and mounting evidence of net lease’s resilience in today’s challenging capital environment. As institutional investors move squarely into the sector, net lease has become “front and center, in front of investors’ minds, really,
- [Investors Stay Selective as Multifamily Cap Rates Edge Higher](https://carnm.realtor/investors-stay-selective-as-multifamily-cap-rates-edge-higher/) - Investors are seeing opportunities in multifamily markets with durable job growth and limited new deliveries, but they remain highly selective about where they choose to invest, according to Crexi’s August 2025 report. Median cap rates for multifamily properties sold rose slightly to 6.36% while asking cap rates slipped to 7.19%. The spread between the two
- [August 2025 Commercial Real Estate Market Insights](https://carnm.realtor/august-2025-commercial-real-estate-market-insights/) - In July 2025, the Federal Reserve held its benchmark rate at 4.5% for the fifth consecutive meeting, holding steady after last year's cuts. Inflation was virtually unchanged at 2.7%, remaining above the Fed's 2% goal. Job growth weakened, with payrolls up just 73,000 after sharp downward revisions in May and June, while unemployment edged up
- [The National Observer: Construction slows in high-growth markets](https://carnm.realtor/the-national-observer-construction-slows-in-high-growth-markets/) - Billy Bastek, executive vice president of merchandising for the Atlanta-based home-improvement retailer, said during an earnings call this week the company is planning for "modest price movement" across some product categories during the second half of this year. Tariffs rates on some items have increased significantly this year, although the company will work to keep prices competitive
- [July 2025 Commercial Real Estate Market Insights](https://carnm.realtor/july-2025-commercial-real-estate-market-insights/) - In the second quarter of the year, the economy showed signs of renewed momentum, even as monetary policy remained the same. This resilience was driven mostly by solid consumer spending and a decline in imports. Inflation edged higher to 2.7%, while the labor market continued to add jobs. In this economic environment, commercial real estate
- [Navigating uncertainty: Commercial real estate outlook through 2026](https://carnm.realtor/navigating-uncertainty-commercial-real-estate-outlook-through-2026/) - At the close of 2024, there was cautious optimism across the commercial real estate (CRE) landscape. A contentious U.S. presidential election had passed, and the Federal Reserve had begun to ease the long-standing “higher-for-longer” interest rate policy. Early rate cuts sparked a modest resurgence in deal activity, leading investors, owners, and developers to anticipate stronger
- [Capital Raising in 2025: Why Great Deals Aren’t Enough Anymore](https://carnm.realtor/capital-raising-in-2025-why-great-deals-arent-enough-anymore/) - A New Era for Access to Capital Access to capital remains one of the biggest challenges for real estate sponsors in 2025. Sponsors are navigating a complex, shifting environment with tighter capital markets, rising investor expectations, and shifting regulatory dynamics. Despite $350 billion in dry powder and early signs of a transaction rebound, fundraising remains
- [Economic Uncertainty Weighs on Retail, Industrial Demand](https://carnm.realtor/economic-uncertainty-weighs-on-retail-industrial-demand/) - The impact of policy changes, elevated uncertainty and a weakening economic outlook started to show up in CRE fundamentals during the second quarter, with the shift in space demand most apparent for retail and industrial properties. Total retail space absorption ran negative for the first two quarters of 2025, falling by an average of 7.3
- [Higher Vacancy But Fewer Options: Warehousing Faces New Squeeze](https://carnm.realtor/higher-vacancy-but-fewer-options-warehousing-faces-new-squeeze/) - The U.S. warehousing and fulfillment sector is at a critical juncture, according to the Q2 distribution and fulfillment study from ITS Logistics. On the surface, capacity appears steady, but a closer look reveals that ready-to-occupy, logistics-ready space aligned with modern requirements is becoming harder to find. At the same time, rising costs are making investment
- [June 2025 Commercial Real Estate Market Insights](https://carnm.realtor/june-2025-commercial-real-estate-market-insights/) - The economy sent mixed signals in the middle of the second quarter. While GDP contracted in the first quarter compared to the previous quarter, inflation remained below 2.5%, but still above the Federal Reserve's 2% target. As a result, interest rates held steady. In the meantime, uncertainty in the market persists, driven by tariffs, evolving
- [Excel and AI Usher in New Era of Commercial Real Estate Business Intelligence](https://carnm.realtor/excel-and-ai-usher-in-new-era-of-commercial-real-estate-business-intelligence/) - There are two types of people in almost every office: the Excel genius and everybody else. Real estate professionals are not immune to the benefits of a great Excel spreadsheet, but let’s be honest, Excel can be complicated with all those useful formulas. The good news is that if fate has not given you access
- [The National Observer: Real Estate: Office vacancy continues to rise nationally](https://carnm.realtor/the-national-observer-real-estate-office-vacancy-continues-to-rise-nationally/) - Office demolitions and conversions have been talked about a lot since the Covid-19 pandemic, but it seems like they're finally coming to fruition in many places. At least 20% of San Mateo, California's office inventory is functionally obsolete and likely headed for demolition or conversion, a CBRE executive recently told Doug Sams at the San Francisco Business
- [Tax Hike Looms for Commercial Properties](https://carnm.realtor/tax-hike-looms-for-commercial-properties/) - The Bernalillo County Tax Assessor’s Office sent shockwaves across the county May 1 when it mailed out non-residential property notice of value statements. The statements showed steep increases in property value assessments, concerning property owners that they, the businesses that operate in their properties, and their consumers will not be able to absorb the anticipated resulting increase in property
- [Young Adults’ Financial Struggles Reverberate Through CRE](https://carnm.realtor/young-adults-financial-struggles-reverberate-through-cre/) - While no crystal ball can predict the future, sometimes demographics paint a startlingly clear picture of what lies ahead—and for today’s young adults, that picture is fraught with economic uncertainty. According to recent data from the Federal Reserve Bank of New York, Americans aged 22 to 27 are confronting a set of hurdles that previous
- [The National Observer: Real Estate: CRE industry outlook for the rest of 2025](https://carnm.realtor/the-national-observer-real-estate-cre-industry-outlook-for-the-rest-of-2025/) - That's according to a recent analysis by the research arm of the Bay Area Council. It also estimated deportations could result in lost tax revenue totaling $23 billion annually at the local, state and federal level. While issues like immigration are extremely multifaceted and certainly can't (or shouldn't) be looked at through the economic lens exclusively,
- [Sensing Optimal Space](https://carnm.realtor/sensing-optimal-space/) - Space. The next frontier. No, not outer space, but the space inside commercial buildings. The “next frontier” is sensory technology to help owners, facility managers, and occupiers identify space usage trends and patterns. Hybrid work policies have led employer tenants to reassess space needs. They may struggle to balance the desire for reduced occupancy costs
- [Commercial real estate optimism grows for second half of 2025 despite rockiness](https://carnm.realtor/commercial-real-estate-optimism-grows-for-second-half-of-2025-despite-rockiness/) - Although the first half of 2025 has proven rockier and more uncertain than many in commercial real estate were initially predicting, optimism for the second half is pervasive. Industry surveys and economist reports suggest while the second half of 2025 will still have a fair amount of choppiness to navigate, investors may be more willing
- [Apartment occupancy holds steady but one metric slows across major US markets](https://carnm.realtor/apartment-occupancy-holds-steady-but-one-metric-slows-across-major-us-markets/) - While apartment occupancy across the U.S. held firm in May, rental-rate increases — which had been trending upward after months of stagnation — slowed. That’s according to a recent report from apartment-analytics company RealPage, which found occupancy among the nation's 50 largest metro areas in May stayed steady month-to-month, at 95.7%, but is up 90
- [Congress Moves to Block Local Bans on Rent-Setting Algorithms](https://carnm.realtor/congress-moves-to-block-local-bans-on-rent-setting-algorithms/) - Federal, state, and local authorities have increasingly sought to restrict companies like RealPage and Yardi from selling data and algorithmic tools to multifamily property owners and operators aiming to optimize their pricing and net operating income. Critics argue that such software has played a significant role in the sharp rent increases witnessed during the pandemic.
- [Retail’s Next Chapter: Five Trends Shaping the Industry](https://carnm.realtor/retails-next-chapter-five-trends-shaping-the-industry/) - LAS VEGAS—Now that ICSC Las Vegas has wrapped up after drawing record crowds, the buzz from the convention floor continues to highlight the remarkable resilience of the retail real estate sector. Ron Meyers, chief leasing officer at Phillips Edison & Company, credits this resilience to a blend of evolving consumer habits and tight supply dynamics.
- [Tariffs Challenges Office-renovation Budget](https://carnm.realtor/tariffs-challenges-office-renovation-budget/) - It's unclear how much tariffs and volatile trade policy will impact office buildouts, but companies already tightening their belts in anticipation of an economic slowdown are having to think carefully about their space plans. As of the first quarter, office buildouts are costing an average of $245 to $335 per square foot, depending on office
- [The National Observer: Softer labor market is a boon for the office sector](https://carnm.realtor/the-national-observer-softer-labor-market-is-a-boon-for-the-office-sector/) - Weaker labor market fuels office demand A slower labor market may, contrary to intuition, be a boon for the office real estate sector, reports Hannah Kanik of the San Francisco Business Times. That's what Nick Romito, CEO of real estate software company VTS, credited with San Francisco's 32% spike in office demand between March 2024 and 2025.
- [Commercial real estate acquisition volume rises 17% in Q1](https://carnm.realtor/commercial-real-estate-acquisition-volume-rises-17-in-q1/) - Commercial real estate acquisition activity saw an uptick in the first quarter, but whether that momentum will carry through to the rest of the year remains a question. Real estate investors deployed $92.5 billion into the major asset classes in Q1, a 17% increase from a year ago, according to data from Colliers and MSCI. Fewer properties
- [NAR March 2025 Commercial Real Estate Market Insights](https://carnm.realtor/nar-march-2025-commercial-real-estate-market-insights/) - After several years of tightening monetary policy, the Federal Reserve ended 2024 at 4.5% and has kept interest rates unchanged for the second consecutive time so far in 2025. Going forward, although the Fed is expected to continue lowering rates, there’s still uncertainty about how the new administration’s policies will shape the market in 2025.
- [Office Distress Finally Starts Knocking on Investors’ Doors](https://carnm.realtor/office-distress-finally-starts-knocking-on-investors-doors/) - Office up? Down? For the last few years, it’s been some of both. But there have been signs of the property type hitting bottom. And now the other expected shoe is dropping. Yardi Matrix’s National Office Report said that office market distress is finally rising. For years, investors have been waiting for values to fall enough
- [Versatile Mid-Sized Facilities Emerge as Top Choice for Industrial Tenants](https://carnm.realtor/versatile-mid-sized-facilities-emerge-as-top-choice-for-industrial-tenants/) - The industrial sector could see increased demand for flexible industrial spaces and short-term leases in strategic locations as businesses adapt to changing trade dynamics driven by tariff activity, according to JLL’s recent industrial market dynamics report. Businesses are likely to reassess their operational needs and real estate strategies to align with the evolving economic landscape,
- [All Eyes on the New Congress](https://carnm.realtor/all-eyes-on-the-new-congress/) - As President Donald Trump and 119th Congress reach the close of the “first 100 days”—the period during which presidents traditionally convene their cabinets and the Administration and Congress begin the work of legislative and regulatory rulemaking— there are big questions about what impact the next four years will have on the real estate industry. Things
- [Most Apartment Markets Still Below Pre-Pandemic Occupancy](https://carnm.realtor/most-apartment-markets-still-below-pre-pandemic-occupancy/) - Apartment occupancy has remained below what was once considered normal times, despite firming occupancy amid strong demand nationwide. According to a RealPage analysis, occupancy was 95% during the first quarter, compared with the pre-COVID five-year average from 2015 to 2019 of 95.2%. Twenty-nine of the nation’s 50 largest apartment markets posted Q1 occupancy below pre-pandemic levels.
- [Law Firms Office Footprints Stabilizing Amid RTO Push](https://carnm.realtor/law-firms-office-footprints-stabilizing-amid-rto-push/) - Within the law firm segment, return to office policies are continuing to shape the post-pandemic market for space and there is an increasing perception that professional opportunities favor those who spend time in the office. As a result, space sharing is fading, overall footprints are stabilizing, as most law firms are not planning to make
- [Industrial Market Returns to Pre-Pandemic Norms with Rising Vacancy Rates](https://carnm.realtor/industrial-market-returns-to-pre-pandemic-norms-with-rising-vacancy-rates/) - The chugging industrial engine that said, “I think I can,” has changed its tune to, “Wow, this track is steep.” The newest Cushman & Wakefield report on the industrial market has found vacancy up 30 basis points to 7% in Q1 2025 and “modest” demand, causing market recalibration. Conditions have become closer to long-term averages
- [Retail Closures Open the Door to Expansion](https://carnm.realtor/retail-closures-open-the-door-to-expansion/) - Financial setbacks have spurred some retailers to shutter locations this year. But those closed doors may open opportunities for expanding retailers in 2025, according to a report from Northmarq, a commercial real estate capital markets firm. In fact, Northmarq estimates that openings and expansions will exceed closures during the next few years. Some of the stores
- [The National Observer: Real Estate: Tariffs likely to have indirect impact on CRE at first](https://carnm.realtor/the-national-observer-real-estate-tariffs-likely-to-have-indirect-impact-on-cre-at-first/) - President Donald Trump on Wednesday announced a 90-day pause on the reciprocal tariffs that went into effect this week, except for those impacting China. Because China issued retaliatory tariffs in response to the 104% tariff imposed by Trump on goods shipped from China to the U.S., the president also said he would be raising the tariff on
- [CRE Market Recovery Hinges on Borrower-Lender Cooperation, Moody's Says](https://carnm.realtor/cre-market-recovery-hinges-on-borrower-lender-cooperation-moodys-says/) - After a period of stagnation, the commercial real estate market is showing signs of life, with February sales surging 30% year-over-year and distress rates for CMBS loans declining for the second consecutive month. This thawing was highlighted in a recent report by Moody’s and stems from a confluence of factors: an improving economic environment, lower interest rates, renewed investor confidence, and
- [Trump announces 90-day tariff pause. Here's what it means for businesses.](https://carnm.realtor/trump-announces-90-day-tariff-pause-heres-what-it-means-for-businesses/) - President Donald Trump has announced a 90-day pause on the sweeping reciprocal tariffs the administration had previously announced — except for those impacting China. In a post on social network Truth Social, Trump simultaneously raised the tariff on Chinese goods to 125% “effective immediately” and said the 90-day pause was because most countries did not
- [Is U.S. CRE Still An Attractive Bet for Global Investors in 2025?](https://carnm.realtor/is-u-s-cre-still-an-attractive-bet-for-global-investors-in-2025/) - Relations between the United States and Canada, historically marked by close economic ties and mutual cooperation, are showing signs of strain, raising concerns about their impact on one of the most lucrative pipelines of foreign investment into U.S. commercial real estate. According to a report by Business Insider, Canadian investors, who have been the largest foreign buyers
- [Jamie Dimon Warns Tariffs Could Increase Inflation and Slow U.S. Growth](https://carnm.realtor/jamie-dimon-warns-tariffs-could-increase-inflation-and-slow-u-s-growth/) - JPMorgan Chase chairman and CEO Jamie Dimon has warned investors that recently announced tariffs will likely increase inflation and cause many to consider a greater recession probability. In light of these "significant and somewhat unprecedented forces," Dimon indicated the company will remain cautious going forward. “There are many uncertainties surrounding the new tariff policy: the
- [The National Observer: Real Estate: Federal government's potential portfolio sell-off raises eyebrows](https://carnm.realtor/the-national-observer-real-estate-federal-governments-potential-portfolio-sell-off-raises-eyebrows/) - The Department of Government Efficiency says it's terminated more than 9 million square feet in leases nationally. While most experts have said the leases canceled so far are considered low-hanging fruit, that doesn't mean the cancellations aren't having an impact. Effects are being felt in markets as wide-ranging as Greensboro, North Carolina; North Texas; Kansas City; Colorado; Greater Philadelphia; Oregon; Columbus, Ohio; Massachusetts;
- [Multifamily Watches as Credit Card Debt and Delinquencies Rise](https://carnm.realtor/multifamily-watches-as-credit-card-debt-and-delinquencies-rise/) - About a week ago, an economist and housing analyst noticed some patterns in government consumer debt data that raised concerns for multifamily owners, investors, and operators. Industry expert Greg Willet, chief economist at LeaseLock, posted on LinkedIn that the latest statistics from the Federal Reserve Bank of New York showed U.S. households carrying $1.211 trillion in credit
- [Companies Enforcing RTO Are Also Optimizing Offices](https://carnm.realtor/companies-enforcing-rto-are-also-optimizing-offices/) - The era of rigid return-to-office (RTO) policies is coming to an end as companies and employees settle into more flexible and hybrid work structures, as reported in Bisnow. The latest push is to optimize existing office spaces, with flexible workspaces, shared areas, and innovative tech that enables scalability to meet the needs of an ever-changing workforce.
- [Federal government real estate shake-up could shift balance from owned to leased space](https://carnm.realtor/federal-government-real-estate-shake-up-could-shift-balance-from-owned-to-leased-space/) - As the Trump administration looks to shed significant amounts of federal real estate, one question is whether the overall portfolio will eventually become more heavily tilted toward leased real estate instead of owned. Steve Teitelbaum, adjunct professorial lecturer of finance and real estate at American University's Kogod School of Business in Washington, D.C., said the
- [Era of Big Declines May be Over as Asking Rents Rise](https://carnm.realtor/era-of-big-declines-may-be-over-as-asking-rents-rise/) - The median U.S. apartment asking rent has risen for the first time in six months, climbing 0.4% year-over-year to $1,607 in February. On a month-over-month basis, asking rents climbed 0.6% for the month, Redfin said in its latest analysis. Asking rents have been relatively flat for the past 10 months when compared with the large
- [Generous TI Allowances Offered as Fit-Out Costs Climb](https://carnm.realtor/generous-ti-allowances-offered-as-fit-out-costs-climb/) - Increasing construction costs have prompted office building owners to offer more generous tenant improvement (TI) allowances for tenants who need to fit out their spaces. TI allowances for Class A space increased 7% year-over-year in 2024, according to Cushman & Wakefield’s Office Fit Out Cost Guide. Four U.S markets saw TI allowances increase more than
- [Healthcare Real Estate Rebounds With Strong Sales, Improved Liquidity](https://carnm.realtor/healthcare-real-estate-rebounds-with-strong-sales-improved-liquidity/) - The healthcare real estate market is showing promising signs of recovery and growth as we move through 2025. According to a recent analysis by Cushman & Wakefield, the sector is poised for expansion, driven by strong fundamentals and improving market conditions. This resurgence is evident in three critical areas: financing, pricing, and buyer activity. The
- [Grocery Retail Vacancy Hits Record Low as Demand for Space Rises](https://carnm.realtor/grocery-retail-vacancy-hits-record-low-as-demand-for-space-rises/) - Grocery-anchored retail shows promise in 2025, but success demands more than expansion, according to a report from JLL. Despite economic challenges, grocers must innovate to meet evolving consumer needs. Foot traffic in grocery stores has rebounded, surpassing pre-pandemic levels with a 5.9% increase from 2019, following a sharp 11.4% decline in 2020. In-store consumers spent
- [Albuquerque Retail Sees Vacancy Increase, But New Leases, Sales Signal Potential Recovery](https://carnm.realtor/albuquerque-retail-sees-vacancy-increase-but-new-leases-sales-signal-potential-recovery/) - The retail sector in Albuquerque, New Mexico has gone through some turbulence with some key fundamentals, but some improvement is expected in the short-term, a fourth quarter and full year 2024 report from Colliers finds. For one absorption was negative at the end of the year at -123,400, with the vacancy rate inching up to
- [Industrial Demand Increases Amid Manufacturing Boom](https://carnm.realtor/industrial-demand-increases-amid-manufacturing-boom/) - Manufacturing in the U.S. is continuing to expand and impact industrial real estate. Over and above the 100 million square feet of manufacturing space that has been delivered in the U.S. since 2022 and the additional 100 million square feet now under construction, there is a multiplier effect as related suppliers and logistics networks add
- [Commercial Property Prices Edge Into Positive Annual Growth](https://carnm.realtor/commercial-property-prices-edge-into-positive-annual-growth/) - Commercial property prices showed annual growth in January of 0.3% after three consecutive monthly increases and was up 0.5% month-over-month to start the year, according to MCI’s RCA Commercial Property Price Index (CPPI) national all-property index. This trend suggests a faster annualized pace of growth of 6.5%, the company said. The RCA CPPI is based
- [Small Multifamily Valuations Start to Rise Again and Originations Are Up](https://carnm.realtor/small-multifamily-valuations-start-to-rise-again-and-originations-are-up/) - The small multifamily market has begun to pick up again, according to an Arbor Realty Trust analysis. But future monetary policy looks less accommodative, which could interrupt the normalizing trend. Valuations of small multifamily properties started to rise again in 2024 Q3 and Q4 and origination volumes were up 5%. But things started to change
- [Law Firm Leasing Hits Record-Breaking 10.2M-SF in Q4](https://carnm.realtor/law-firm-leasing-hits-record-breaking-10-2m-sf-in-q4/) - U.S. law firm leasing, a strong indicator of office health, has rebounded with “record-breaking” results, according to Savills. In the fourth quarter, law firm leasing reached 10.2 million square feet. That’s a 31.4% surge from the 7.7 million square feet in 2023 and a 21.4% rise from the 2019 peak of 8.4 million square feet.
- [Multifamily Poised for Best Buying Opportunity in Years](https://carnm.realtor/multifamily-poised-for-best-buying-opportunity-in-years/) - This year could be one of the best buying opportunities in the multifamily sector in years, as elevated demand in a limited supply environment drives higher rent growth, according to a Gray Capital LLC analysis. Absorption in the sector topped 546,000 square feet last year, the second-highest rate in more than four decades. The sector
- [AI boom drives data center development in unexpected markets](https://carnm.realtor/ai-boom-drives-data-center-development-in-unexpected-markets/) - Groups building power-intensive data-center facilities are having to look farther afield for opportunities. A recent report by Cushman & Wakefield Inc. (NYSE: CWK) found, among 569 data-center facilities in markets across the Americas, the vacancy rate stood at 4.9% at the end of 2024, and 83% of upcoming capacity is already preleased. In the second half of
- [In-Office Mandates Drive Office Leasing Momentum](https://carnm.realtor/in-office-mandates-drive-office-leasing-momentum/) - The office sector is poised for continued momentum this year as economic growth and increasing office attendance will continue to drive robust leasing, according to Savills Research & Data Services’ Q4 State of the US Office Market. In-office mandates are on the rise along with required in-person days as employers prioritize collaboration, innovation and team
- [Retail Investment Boom Expected to Continue in 2025](https://carnm.realtor/retail-investment-boom-expected-to-continue-in-2025/) - Investment in the retail sector reached $21.2 billion during the second half of 2024, an increase of 36% from the first half of the year. This boosted total retail investment volume by 6% year-over-year to $36.8 billion, according to JLL’s Q4 retail market dynamics report. But the surge may not stop there, as the broker
- [Industrial Sector Faces Transition as Supply Boom Fades](https://carnm.realtor/industrial-sector-faces-transition-as-supply-boom-fades/) - The coming year is likely to be one of transition for the industrial sector as the pandemic-driven supply boom that reached 1.1 billion square feet fades, according to a Yardi Matrix report. Industrial space has gone from scarcely available in 2021 and 2022 to more readily available for occupiers, with the national vacancy rate standing
- [Remote Work Trends Reshape Multifamily Amenity Designs and Demand](https://carnm.realtor/remote-work-trends-reshape-multifamily-amenity-designs-and-demand/) - Amenities are a crucial part of the commercial real estate space. They've played not only a pivotal role in luring employees back into offices, but in attracting multifamily renters as well. The Amenity Collective is involved with designing, managing, and providing amenity centers to landlords and developers. Also, it helps its clients with consulting and through the
- [Logistics Entering Sustained Growth Phase](https://carnm.realtor/logistics-entering-sustained-growth-phase/) - Industrial vacancy is likely nearing its peak for the current cycle, according to the latest research from Cushman & Wakefield. The report found overall national industrial vacancy climbed 20 basis points to 6.7%, which remains 30 bps below the 10-year pre-pandemic average. During the fourth quarter, industrial absorption was positive in 60% of the 84
- [Five predictions for 2025's real estate market](https://carnm.realtor/five-predictions-for-2025s-real-estate-market/) - We've arrived in 2025 — and there's a lot to keep an eye on this year in both commercial and residential real estate. 2024 brought a year of mostly modest changes for owners, operators, developers and users of real estate, particularly in the latter half of the year, as the Federal Reserve began issuing interest-rate cuts. Those
- [CRE Braces for 2025 Amid Conflicting Predictions on Market Stability](https://carnm.realtor/cre-braces-for-2025-amid-conflicting-predictions-on-market-stability/) - With 2025 less than two weeks away, the pressure’s on for definitive takes on where commercial real estate is going, how long it will take to get there, and who the winners and losers are. It’s a big ask that probably can’t be granted. There are signs to point at, whether you’re a pessimist or
- [A New Dawn: Seizing Real Estate's Moment of Opportunity](https://carnm.realtor/a-new-dawn-seizing-real-estates-moment-of-opportunity/) - The following 2025 Outlook is from David Steinbach, Global CIO at Hines. The views expressed are the author’s own. As we enter 2025, we remain amid a massive transition in the investment landscape. Gone is the distant past of low interest rates propelling growth and asset appreciation. In its place is a more challenging environment
- [2024 Federal Economic Area Report](https://carnm.realtor/2024-federal-economic-area-report/) - Read the current Federal Economic Area Report provided by CARNM and RPR. This report offers real estate professionals a window into demographics and consumer behavior in the state of New Mexico. View the report here.
- [Signs of Optimism: Where Office Net Absorption Has Turned Positive](https://carnm.realtor/signs-of-optimism-where-office-net-absorption-has-turned-positive/) - Although the pandemic feels like it happened long ago, many sectors of the economy are still struggling to recover from its lasting effects, and the office real estate sector is certainly one of them. The pandemic caused significant disruptions, and the sector continues to face challenges as companies, employees, and investors adapt to new workplace
- [Interest Rate Trajectory Still Unclear](https://carnm.realtor/interest-rate-trajectory-still-unclear/) - What happens to commercial real estate when interest rates jump up? It’s a trick question — the industry just spent the last two years finding out. Now the Federal Reserve’s Federal Open Market Committee is under a microscope as everyone in CRE scrutinizes every action and statement out of the Fed. So, what will happen?
- [Flexibility remains paramount in office-leasing decisions](https://carnm.realtor/flexibility-remains-paramount-in-office-leasing-decisions/) - Although business owners and managers are beginning to make firmer decisions about their companies' real estate needs, most are still prioritizing flexibility in their lease terms. That's according to a recent survey by commercial lease-management software company Visual Lease, in which 61% of real estate executives surveyed said flexibility was very important given the current
- [Fed Rate Cuts in 2025 Could Unlock Multifamily Deal Flow](https://carnm.realtor/fed-rate-cuts-in-2025-could-unlock-multifamily-deal-flow/) - High financing costs and low cap rates have sidelined many multifamily investors, but the Federal Reserve's approach to lowering interest rates could be key to unlocking deal flow in 2025. According to a new report from Northmarq, the potential for rate cuts by year-end has lifted investor sentiment and could even drive more apartment construction
- [CRE investors prepare for a busier year of buying, selling in 2025](https://carnm.realtor/cre-investors-prepare-for-a-busier-year-of-buying-selling-in-2025/) - Commercial real estate transaction activity is picking up, even ahead of the Federal Reserve's interest-rate cut last month. The U.S. commercial real estate market saw almost $60 billion in transaction volume in the second quarter, a 31% bump from the the first three months of the year, according to CoStar Group Inc. (Nasdaq: CSGP). And in
- [Senior Housing Demand Continues to Increase Faster Than Supply](https://carnm.realtor/senior-housing-demand-continues-to-increase-faster-than-supply/) - A new data analysis from the National Investment Center for Seniors Housing & Care suggests that the demand for senior housing increasingly exceeds the number of available units in the third quarter of 2024. Senior housing occupancy for 31 primary data markets of NIC MAP Vision, a company that provides geospatial and market selection analytics
- [Is Your Office Property a Candidate for a Data Center Conversion?](https://carnm.realtor/is-your-office-property-a-candidate-for-a-data-center-conversion/) - Data centers are in high demand by many industries, including agriculture, banking, inventory, defense, mining, and healthcare. According to a recent report by Newmark, data center demand will double by 2030. Given the excess office stock in the US, adapting an office building (or another underutilized building) can be a win-win solution. However, the data
- [How Malls Are Adapting to Ensure Long-Term Success](https://carnm.realtor/how-malls-are-adapting-to-ensure-long-term-success/) - This year's back-to-school season breathed new life into indoor malls, with a recent report from Placer.ai revealing a significant 7.3% increase in foot traffic compared to the previous year. This surge in popularity wasn't limited to enclosed shopping centers, as open-air shopping centers and outlet malls also experienced substantial growth during the same period. This
- [Young Adults Fuel Revival of Small Towns and Rural Areas](https://carnm.realtor/young-adults-fuel-revival-of-small-towns-and-rural-areas/) - One assumption about population migration is that people are moving from one major metro to another in search of work and lower living costs, going from gateway cities to the Sun Belt. As often happens, common assumptions can overlook something significant. In this case, there's an entirely different twist proven by Census Bureau data, as
- [Office-leasing demand starts to make a comeback nationally](https://carnm.realtor/office-leasing-demand-starts-to-make-a-comeback-nationally/) - Signs are emerging that companies are feeling more confident about their office-leasing decisions, prompting a bump in touring and leasing activity in several U.S. markets. In New York City, there was about 18.6 million square feet of office-tenant activity on average in 2018 and 2019, according to data from CBRE Group Inc. (NYSE: CBRE). At
- [Golf Resurgence Boosts Revenues for Resorts, Hotels](https://carnm.realtor/golf-resurgence-boosts-revenues-for-resorts-hotels/) - Although golf's popularity in the U.S. has not returned to its zenith prior to the Great Financial Crisis, new findings from CBRE suggest that the sport's growing appeal is proving to be a boon for hoteliers and golf resorts. The firm analyzed the performance of 20 resorts with an average of 625 rooms between 2019
- [Dock Workers and Ports Come to Temporary Settlement](https://carnm.realtor/dock-workers-and-ports-come-to-temporary-settlement/) - The International Longshoremen's Association, which went out on strike on Tuesday, and the operators of ports on the East Coast and Gulf Coast agreed to a temporary settlement until January 15, 2024. Port employers offered 62% over six years, according to the Wall Street Journal. The union had wanted a 77% increase and the port
- [Rents Continue to Decline in Most Major Cities](https://carnm.realtor/rents-continue-to-decline-in-most-major-cities/) - Four out of five of the nation's 100 largest cities experienced month-over-month rent drops in September and the outlook for the future is more of the same, a new report from Apartment List predicts. "We are likely to see continued price dips of increasing magnitude in the coming months, as property owners offer modest discounts
- [Office Market May Have Hit Bottom After Wave of Discounted Sales](https://carnm.realtor/office-market-may-have-hit-bottom-after-wave-of-discounted-sales/) - The office market may have hit its bottom following a series of stressed property sales at discounted rates during the past quarter, which have set a new pricing benchmark, according to a Reuters report. Seven properties sold at a discount of more than $100 million during the first quarter, compared with two during all of
- ['Christmas for real estate:' Which CRE sectors will benefit most from interest-rate cuts](https://carnm.realtor/christmas-for-real-estate-which-cre-sectors-will-benefit-most-from-interest-rate-cuts/) - The long-awaited cut in interest rates that came last week was largely celebrated by commercial real estate investors and developers, with many saying the news signals a much-needed turning of the tide for the industry. The Federal Reserve on Sept. 18 said it was lowering the target range for the federal funds rate by half a
- [Permitting and Economic Factors Continue to Impact Multifamily Project Timelines](https://carnm.realtor/permitting-and-economic-factors-continue-to-impact-multifamily-project-timelines/) - A new report from the National Multifamily Housing Council presents a mixed report on the state of multifamily construction in the U.S. On the one hand, fewer delays are being experienced on the projects that are underway. On the other hand, fewer projects are being undertaken, with 37% fewer starts between 2Q 2023 and 2Q
- [Office Leasing Activity Expected to Continue Upward Climb Into Next Year](https://carnm.realtor/office-leasing-activity-expected-to-continue-upward-climb-into-next-year/) - More office leases are being signed today than before the pandemic, and leasing activity is expected to increase later this year and into 2025 as occupiers gain confidence in making real estate decisions amid a resilient economy. Occupiers signed 3,166 office leases during the first half of this year, which compares with an average of
- [Commercial real estate loan delinquencies see uptick among banks](https://carnm.realtor/commercial-real-estate-loan-delinquencies-see-uptick-among-banks/) - Commercial real estate loan delinquencies among U.S. banks continue to pile up as the nation sees fallout from a post-pandemic office market. The delinquency ratio for CRE loans across banks rose 16 basis points in the second quarter, to 1.4%, according to data from S&P Global Market Intelligence. It's the seventh consecutive quarterly increase for
- [The Often Overlooked Bright Future of Retail CRE](https://carnm.realtor/the-often-overlooked-bright-future-of-retail-cre/) - Much of the discussion about commercial real estate through and after the formal pandemic has been a triptych. The asset classes include office, multifamily, and industrial. The first one quickly tumbled. The second and third were investment darlings. Retail was assumed to be on a crash-and-burn trajectory with extended and sustained pandemic closings. Now? Retail
- [Industrial Absorption Set To Grow on Rate Drop Expectations](https://carnm.realtor/industrial-absorption-set-to-grow-on-rate-drop-expectations/) - Industrial net absorption for the second half of 2024 is expected to reach approximately 114 million square feet, up from 67.1 million square feet absorbed during the first half of the year. First-quarter absorption was down substantially from its historic peak in 2021 when it totaled 749.3 million square feet for the year, according to
- [Multifamily Demand Rose 102% in Q2](https://carnm.realtor/multifamily-demand-rose-102-in-q2/) - The gap between homeownership and rental costs has continued to widen during the second quarter, according to Newmark's most recent multifamily capital markets report. The gap increased 26.7% year-over-year to $1,114. Meanwhile, MBA's Mortgage Application Index, a housing and mortgage market indicator, has decreased 48.4% since March 2022 when the Fed initially increased rates. Applications
- [Double-Digit Office Cap Rates Continue to Climb](https://carnm.realtor/double-digit-office-cap-rates-continue-to-climb/) - Double-digit cap rates have become pervasive for Class B and C properties, according to an analysis by CBRE. This comes after the firm reported earlier this year that Class C office yields were frequently exceeding junk bond levels. Pension funds are limited in the amount they can invest in below-investment-grade fixed-income assets. Junk bonds have
- [In a Switch, Large Property Sales Outperform Smaller Deals](https://carnm.realtor/in-a-switch-large-property-sales-outperform-smaller-deals/) - There's evidence of some reversal in a pattern of property sales based on size from the middle of 2023. Similar to the value-weighted and equal-weighted, smaller properties did better in the long run. Investment grade was down 3.4% over the 12 months while the commercial grade was up 6.2%. There is no explanation or speculation
- [CRE Firms Should Keep Track of State AI Legislation](https://carnm.realtor/cre-firms-should-keep-track-of-state-ai-legislation/) - While watching what types of artificial intelligence technology are in the CRE and general software in use at a CRE company, executives should pay attention to what might affect how the systems have an impact on operations. There are technical limitations that can result from large language model hallucination (when AI makes things up), machine
- [This Expert Detects a Shift in CRE Bank Lending](https://carnm.realtor/this-expert-detects-a-shift-in-cre-bank-lending/) - Banks are eager to lend for certain high-performing properties, according to Michael Thom, attorney in the business and finance department at Obermayer. "Lenders are more eager to get the money on the street," Thom told GlobeSt.com, who encourages property owners to explore financing opportunities that may have been unavailable in the past. At the same
- [New Multifamily Data Points to a Stabilizing Market](https://carnm.realtor/new-multifamily-data-points-to-a-stabilizing-market/) - The multifamily housing market is showing promising signs of recovery, with recent data from CoStar Group revealing a significant increase in demand and stabilization of vacancy rates. Absorption rates have notably risen from 118,000 units in the first quarter to 166,000 in the second, fostering optimism among industry experts about a potential shift from decelerating
- [What Employees Want in Today's Office Space](https://carnm.realtor/what-employees-want-in-todays-office-space/) - In the shifting post-pandemic work landscape, companies have focused on creating office environments with shared spaces and high-end amenities from catered lunches to modern outdoor spaces, all with a goal of enticing employees back to office buildings. However, while a majority of workers are interested in working at least a few days a week in
- [Apartment rents hit a post-pandemic milestone — and more landlords are sweetening their deals](https://carnm.realtor/apartment-rents-hit-a-post-pandemic-milestone-and-more-landlords-are-sweetening-their-deals/) - Rental rates on some apartment types slipped in July compared to the same time a year prior, the first time that's occurred since June 2020 — the height of the Covid-19 pandemic. Median asking rents for studios and one-bedroom apartments fell 0.1%, two-bedroom apartments fell 0.3% and units with three or more bedrooms fell 2.4%
- [Inside the Growing Trend of Retailtainment](https://carnm.realtor/inside-the-growing-trend-of-retailtainment/) - Retailtainment has become a significant draw for consumers, especially now as many are being more cautious with their spending dollars. According to research from AIScreen, the experience has boosted store visits and sales by 30 percent. PREIT, which focuses on businesses transforming traditional malls into more innovative districts, is at the forefront of this trend.
- [Industrial Demand Nears Turning Point](https://carnm.realtor/industrial-demand-nears-turning-point/) - Industrial vacancy has risen for six straight quarters to reach 6.1% in June and more space is soon to be delivered. But developers need not panic as the tide is about to turn, according to Marcus & Millichap's midyear 2024 industrial report. In those six quarters, the company noted, nearly 629 million SF of industrial
- [CRE Capital Markets, Lending Show Improvement](https://carnm.realtor/cre-capital-markets-lending-show-improvement/) - It takes time to turn a large vessel and after years of downward trajectories – but commercial real estate is seeing some positive movement. CBRE said second-quarter capital markets and lending figures showed improvement in commercial debt and equity fundamentals. Here are some of the details: Q2 investment volume at $85.7 billion was up 14%
- [Can Renovations Compete with New Office Construction?](https://carnm.realtor/can-renovations-compete-with-new-office-construction/) - Dated office buildings, even four-star properties classified as commodity Class A, continue to struggle to maintain occupancy and have had difficulty replacing tenants who move out. As tenants increasingly favor new construction, renovating older office buildings, which used to be a surefire strategy to increase occupancy, is no longer paying off like it once did,
- [Net Lease Transaction Volume Down Nearly 15%](https://carnm.realtor/net-lease-transaction-volume-down-nearly-15/) - Newmark's report on net lease transactions in the second quarter of 2024 showed a 14.71% slowdown from the same period in 2023. The dollar volume dropped from $10.74 billion to $8.93 billion, according to the analysis of data from Real Capital Analytics. Counting the number of transactions rather than the dollar volume showed a 6.49%
- [Retail Resurgence Headlining Current CRE State](https://carnm.realtor/retail-resurgence-headlining-current-cre-state/) - Not all segments of commercial real estate are created equal. Some right now are thriving, while others are struggling to see demand. Since the onset of the pandemic, life has changed. More Americans are employed remotely or have hybrid schedules to improve their work/life balance. Interestingly, this has resulted in fascinating trends recently. The retail
- [Short-term rentals reach 'a turning point' after 2023 slump](https://carnm.realtor/short-term-rentals-reach-a-turning-point-after-2023-slump/) - Short-term-rental supply and demand have both lagged somewhat in the face of higher interest rates and a slowdown in bookings since the Covid-19 pandemic, but the industry could be poised for a rebound. Growth in supply is slowing compared to a year ago, according to data from AirDNA LLC. The short-term-rental analytics platform reports there
- [4 Ways that Data is Changing the Way We Transact](https://carnm.realtor/4-ways-that-data-is-changing-the-way-we-transact/) - The commercial real estate (CRE) industry is in a period of unprecedented evolution, triggered by the availability of new technologies and changing societal norms. One of the slower industries to shift into the cyber age, CRE's common brick-and-mortar mindset is increasingly influenced by the fluid world of data analytics, computerized and real-time automated operations, and
- [Multifamily Construction Permits are Down 30%](https://carnm.realtor/multifamily-construction-permits-are-down-30/) - Builders are seeking fewer construction permits for multifamily properties due to elevated interest rates and an increasingly saturated market. According to Redfin, permits to build apartments in the United States have dropped nearly 30% since the pandemic. Builders have obtained permits to construct 13 multifamily housing units for every 10,000 people in the country so
- [Cities betting on incentives to fuel downtown comeback](https://carnm.realtor/cities-betting-on-incentives-to-fuel-downtown-comeback/) - City leaders in Durango, Colorado, recently unveiled an initiative aimed at keeping businesses in town. Introduced last month, the Economic Development Incentive program will be tailored to individual companies, but its focus overall is on creating jobs, bridging market gaps and retaining growing businesses in Durango. “This program ensures Durango has pathways to provide essential
- [Industrial Absorption Doubles As Vacancy Ticks Higher](https://carnm.realtor/industrial-absorption-doubles-as-vacancy-ticks-higher/) - Absorption of industrial property doubled in 2Q2024, even though the industrial vacancy rate rose to 6.1%, exceeding 6% for the first time in nine years. The market's absorption of 46.3 million SF reflected healthy market fundamentals, according to new data from Cushman & Wakefield. "Although vacancy has continued to climb, it remains well below the
- [Multifamily Market Logs Encouraging H1 Performance](https://carnm.realtor/multifamily-market-logs-encouraging-h1-performance/) - Advertised rents in the multifamily market increased 1.5% across the country during the first half of 2024, a moderately positive result that should be considered a win given the market environment, according to the Yardi Matrix National Multifamily Report. Year-over-year rent growth was highest in the Northeast and Midwest, led by New York City (4.8%),
- [New Metrics Define Office Success in Hybrid Work World](https://carnm.realtor/new-metrics-define-office-success-in-hybrid-work-world/) - The shift to hybrid work is changing the underlying metrics companies are using to predict how much space they need, address costs and improve the workplace experience. Rather than focusing on how many people an office can accommodate, CRE leaders instead want to understand how employees feel when they are there. Ninety percent of organizations
- [Foot Traffic Keeps Retail Market Moving](https://carnm.realtor/foot-traffic-keeps-retail-market-moving/) - Retail property owners looking for tenants are in a favorable position, with widespread demand for space driven by low vacancy and limited construction. The retail sector is performing strongly as consumer resiliency and a strong labor market fuel increases in foot traffic while inflation begins to ease, according to Marcus & Millichap's second-quarter Retail National
- [More Warehouse Operations Adopt AI-Enabled Vision Systems](https://carnm.realtor/more-warehouse-operations-adopt-ai-enabled-vision-systems/) - Gartner recently predicted that by 2027, half of companies with warehouse operations will replace traditional scanning-based counting with artificial intelligence-enabled vision systems. These new systems will use 3D cameras, computer vision software, AI-powered pattern recognition, and machine learning. However, integrating such systems will take more work and time than it might seem. The software will
- [Recent Sales Volumes Signal Strengthening Market for Some Sectors](https://carnm.realtor/recent-sales-volumes-signal-strengthening-market-for-some-sectors/) - Although May sales volume totals remained low, portfolio activity along with properties on the market indicate stronger months could be coming. After single-digit, year-over-year declines in March and April, volume was down 38% in May, according to the Colliers update based on MSCI data. The office market typified the volatility of monthly sales activity in
- [Here are the economic development initiatives Las Cruces leaders are focused on](https://carnm.realtor/here-are-the-economic-development-initiatives-las-cruces-leaders-are-focused-on/) - With the midpoint of 2024 hit, Albuquerque Business First reached out to economic development leaders with the City of Las Cruces to get a better grasp on some of their main focus areas. Here’s what they had to say. Small Business Storefront Repair Program The Small Business Storefront Repair Program was launched in February 2023
- [Small Bay Market Emerges as Strong Industrial Performer](https://carnm.realtor/small-bay-market-emerges-as-strong-industrial-performer/) - While much attention and development activity has focused on larger industrial categories over the past several years, the small-bay tenant market is emerging as a strong performer on tighter supply and attractive investment characteristics. The small-bay industrial market consists of properties with multiple tenants between 1,000 square feet and 10,000 square feet. Industrial spaces under
- [Apartments Taking Longer to Rent](https://carnm.realtor/apartments-taking-longer-to-rent/) - "Renters today must earn $66,120 to afford the median priced apartment," a new analysis from Redfin reports. That is $11,408 more than the typical U.S. renter earns, Redfin estimated. Even though apartment oversupply is holding rents down in some areas, it found the median U.S. asking rent rose 0.8% year-over-year in May this year. "Demand
- [Office Market Remains a Mixed Bag as Return to Office Strategies Vary](https://carnm.realtor/office-market-remains-a-mixed-bag-as-return-to-office-strategies-vary/) - As the office market continues to search for stability in the wake of COVID-19 disruption, there are signs the sector's rapid descent could be slowing but indicators are mixed from market to market. Momentum in office net absorption across major markets ebbed somewhat during the first quarter, shifting back into the red after posting the
- [CRE expectations mixed for cost of capital, dealmaking in second half of 2024](https://carnm.realtor/cre-expectations-mixed-for-cost-of-capital-dealmaking-in-second-half-of-2024/) - The outlook among commercial real estate industry players remains mixed as 2024 officially hits its midway point. A second-quarter survey of industry representatives by Altus Group found slightly more respondents were concerned about the possibility of a recession compared to the prior quarter, but a greater share felt better about debt capital availability. While about half of
- [What's Changed in CRE Sales Trends](https://carnm.realtor/whats-changed-in-cre-sales-trends/) - Crexi's National Commercial Real Estate Report for May saw some overall positive changes for property owners. At the top, they saw the asking price per square foot climb by 3.76% across the marketplace, accompanied by a cap rate compression from 6.82% to 6.6%. While that is good news on the surface, asking rents aren't necessarily
- [NAR Commercial Real Estate Metro Market Report | 2024.Q1 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2024-q1-albuquerque-nm/) - View the Q1 2024 NAR Albuquerque, NM Commercial Real Estate Metro Market Report. Highlights include: Demand for office space is stronger than nationwide as this area has a faster absorption of office space. As a result, rent prices rose faster than nationwide and vacancy rate is lower in this area Demand for industrial space is weaker than
- [How CRE Can Rise to the Challenge of Escalating Insurance Premiums](https://carnm.realtor/how-cre-can-rise-to-the-challenge-of-escalating-insurance-premiums/) - From recent Midwestern tornadoes to a 2024 hurricane season projected to produce 17 to 25 named storms, natural disasters are on the rise, spurring dramatic increases in commercial property insurance pricing. While some locations are more vulnerable than others, rising insurance rates are unavoidable. In the previous five years, commercial property insurance costs increased more
- [Multifamily Investment Market Shows Improvement](https://carnm.realtor/multifamily-investment-market-shows-improvement/) - Conditions in the multifamily investment market have improved, driven by a steep contraction in property prices and growth in net operating income (NOI) that together offset the effect of higher mortgage rates. The effect was to boost Freddie Mac's Multifamily Apartment Investment Market Index (AIMI) for 1Q 2024 by 8.7% to 112.5. The hike in
- [Office Bears the Brunt of CRE Distress at 2024 Halftime](https://carnm.realtor/office-bears-the-brunt-of-cre-distress-at-2024-halftime/) - Trepp's mid-year look at CRE described the office sector as "on the brink" and "navigating the pain of an uncertain future." "The commercial real estate (CRE) market continues to grapple with persistent risk and distress, with the office sector bearing the brunt of the impact," they wrote. "As the markets are feeling the full effect
- [Gov. Lujan Grisham calls to modernize permitting practices at NAIOP luncheon](https://carnm.realtor/gov-lujan-grisham-calls-to-modernize-permitting-practices-at-naiop-luncheon/) - During a NAIOP luncheon on May 30, New Mexico Governor Michelle Lujan Grisham emphasized the need to modernize the state's zoning and permitting processes to foster economic growth and meet the increasing demand for housing. Drawing attention to successful local partnerships, Lujan Grisham cited the rapid completion of a new fire station at the Pueblo of Sandia.
- [More Renters Are Staying Put Longer](https://carnm.realtor/more-renters-are-staying-put-longer/) - Multiple factors are leading renters to remain in place for longer periods of time, a new study by Redfin shows. It found that one in six, or 16.6%, of renters stayed in their home for 10 years or more in 2022, up from 13.9% a decade earlier. Other timelines were measured with similar results. For
- [Office-upfit costs continue to rise but have leveled off from inflation spikes](https://carnm.realtor/office-upfit-costs-continue-to-rise-but-have-leveled-off-from-inflation-spikes/) - As companies continue to view their office real estate as a recruitment and retention tool, the cost to build out those spaces keeps climbing. That's according to a recent analysis by Jones Lang LaSalle Inc. (NYSE: JLL), which found the average office fit-out cost is up 2.7% year-over-year for a moderate-style build out of medium-quality
- [Apartment Rents Post National Monthly Growth of Over 1% in May](https://carnm.realtor/apartment-rents-post-national-monthly-growth-of-over-1-in-may/) - The national rent index saw both one and two-bedrooms increase 1.2% this May to medians of $1,504 and $1,865, respectively, marking the first time there has been monthly growth rates of over 1% in 20 months, according to Zumper. Syracuse and Columbus rents were the fastest growing nationwide, both climbing over 20% since this time
- [More Law Firms Opt to Relocate Instead of Renewing](https://carnm.realtor/more-law-firms-opt-to-relocate-instead-of-renewing/) - The number of law firms choosing to relocate their offices instead of renew existing leases is growing, and amenities have become a critical factor in relocation decisions, Colliers concluded in its 2024 spotlight report on North American law firm practice groups. "Law firms seek buildings that provide modern, efficient workspaces," Colliers stated, noting that firms
- [CRE Credit Trends to Deteriorate Through 2025](https://carnm.realtor/cre-credit-trends-to-deteriorate-through-2025/) - Credit trends in commercial real estate will continue to deteriorate through 2024 and into 2025, says Fitch Ratings. Office will lead the decline, but properties in other sectors — retail, hotel, multifamily, and industrial — will also face deterioration the credit rating agency said. “For U.S. CMBS, we expect the greatest decline in property net cash flows
- [The Case for Property-Wide Wi-Fi at Apartments](https://carnm.realtor/the-case-for-property-wide-wi-fi-at-apartments/) - There’s a growing need for property-wide Wi-Fi in multifamily complexes. Tenants want Internet access in their units, but also when they’re in a gym, on a dog walk, sitting in a conference room, checking their laundry, or using any other amenity that comes with the rent. Property staff also need ready access no matter where
- [Congressional Lawmakers Launch Bipartisan Real Estate Caucus](https://carnm.realtor/congressional-lawmakers-launch-bipartisan-real-estate-caucus/) - NAR and other housing groups say it’s a critical step in addressing some of the national real estate market’s biggest challenges. A group of lawmakers on Capitol Hill have announced the new Bipartisan Congressional Real Estate Caucus, which will address the lack of housing affordability and inventory nationwide. The National Association of REALTORS®, along with
- [Hotel Conversions Reach All-Time High](https://carnm.realtor/hotel-conversions-reach-all-time-high/) - Conversion of old buildings into apartments is now a real “thing.” Hotels, offices, factories, warehouses, all are fair game if they meet the necessary conditions. In 2023, 12,713 new apartments emerged into new life from dormant structures, and 151,000 new ones are in the process of conversion – up 24% from the 122,000 projected in
- [Multi-Tenant Retail Investment Sales Up 7.8%](https://carnm.realtor/multi-tenant-retail-investment-sales-up-7-8/) - Multi-tenant retail investment sales activity in Q1 was up 7.8% over the previous quarter but is down nearly 18% year-over-year, according to a new report from Northmarq. The market, however, continues to outperform the days of the pandemic when activity nearly ground to a halt, Northmarq said. Average cap rates for shopping centers have risen
- [What a higher-for-longer interest-rate environment means for commercial real estate](https://carnm.realtor/what-a-higher-for-longer-interest-rate-environment-means-for-commercial-real-estate/) - Commercial real estate investors, owners and occupiers all have been monitoring whether the Federal Reserve will impose interest-rate cuts in 2024 after rapidly rising rates have substantially increased the cost of doing business. Earlier this month, the Fed signaled it needed to see more progress toward its inflation target of 2% and decided to maintain
- [Industrial Development Lags Current and Future Demand](https://carnm.realtor/industrial-development-lags-current-and-future-demand/) - According to industrial CRE giant Prologis, its Industrial Business Indicator Activity Index showed an April level of activity “consistent with demand generation, supported by macro data that reflects restocking inventories amid resilient consumption activity, although realized net absorption has lagged.” However, that is paired with a continued reduction of industrial construction, setting up an ongoing
- [This Office Landlord Reports Strong Leasing, Longer Terms](https://carnm.realtor/this-office-landlord-reports-strong-leasing-longer-terms/) - Boston Properties (BXP), one of the largest U.S. office landlords, reported strong leasing activity in the first quarter, with tenants opting to take longer-term leases that they did a year ago. The REIT inked close to 900K SF of leases in Q1, a 35% increase compared to the Q1 2023 total of 600K SF, with
- [Here's why this L.A. company remains bullish on its $30M Downtown Albuquerque project](https://carnm.realtor/heres-why-this-l-a-company-remains-bullish-on-its-30m-downtown-albuquerque-project/) - Palisociety, a Los Angeles-based hotel management company, wants to capitalize on New Mexico's booming film industry by revamping Hotel Blue on the corner of Central Avenue and Eighth Street. Located at 717 Central Ave. NW, the 75,000-square-foot Hotel Blue will be renamed Arrive Albuquerque. The hotel, which has been in the works for years, will feature
- [Online Grocery Sales to Grow 3X Faster Than In-Store](https://carnm.realtor/online-grocery-sales-to-grow-3x-faster-than-in-store/) - Online grocery sales are projected to increase at a compound annual growth rate (CAGR) of 4.5% over the next five years, more than three-times faster than the 1.3% CAGR anticipated for in-store grocery sales during the same period. Total online grocery sales—which includes delivery, pickup and ship-to-home—are projected to reach nearly $120B annual by the
- [Industrial Big Box Leasing Is On a Tear](https://carnm.realtor/industrial-big-box-leasing-is-on-a-tear/) - 2024 could be the third-highest year for industrial big-box leasing, CBRE projects. Even though a spate of new construction in 2023 brought a record 413 million SF to market, it expects that abundant supply to be short-lived. “Investor sentiment has significantly improved from last year as industrial operating fundamentals remain solid and the credit market
- [Troubled CRE Is Tapering While Sales Out of Distress Increase](https://carnm.realtor/troubled-cre-is-tapering-while-sales-out-of-distress-increase/) - The total amount of distressed CRE reached more than $88.6 billion by the end of 2024’s first quarter through the addition of net $2.7 billion, according to a new MSCI capital trends report. The net addition was the result of $9.9 billion new property distress offset by $7.2 billion worked out during the quarter. For
- [Multifamily’s Tough Times Will Be a Boon for Bargain Buyers](https://carnm.realtor/multifamilys-tough-times-will-be-a-boon-for-bargain-buyers/) - The multifamily fall from grace over the last couple of years was unexpected by most at the market’s pandemic highs. The increase in interest rates have hit hard, as have some other factors. But according to Ralph Rosenberg, partner and global head of real estate at global investment firm KKR, problematic conditions should start tapering
- [What Happens When An Advanced Leasing Agent Becomes Free](https://carnm.realtor/what-happens-when-an-advanced-leasing-agent-becomes-free/) - Multifamily rental marketplace Apartment List announced that it would provide its advanced GenAI leasing agent Lea Pro to property management partners at no cost. The move has some potentially disruptive implications. If it works as described, that could mean less need for employees to perform leasing activities. A cost savings, but also a loss of
- [Shifting Office Trends Could Influence Site Selection Decisions](https://carnm.realtor/shifting-office-trends-could-influence-site-selection-decisions/) - CommercialEdge’s report on how the national office market fared in March 2024 contains little good news for landlords, but it does describe shifting trends that are influencing some locational decisions as well as the risks posed by AI. The national office vacancy rate rose to 18.2% — up 120 basis points over the prior year. The average
- [How Office Is Balancing Competing Financing and Workplace Realities](https://carnm.realtor/how-office-is-balancing-competing-financing-and-workplace-realities/) - Real estate debt is a big concern in today’s Fed environment, as the industry expects a 40% rise in debt maturities in 2024. Meanwhile, office properties – already facing record vacancies – represent the largest percentage increase in those properties. That’s according to recent research from Colliers, which provides both a dose of reality and some
- [What Commercial Real Estate Agents Wish They Knew Sooner](https://carnm.realtor/what-commercial-real-estate-agents-wish-they-knew-sooner/) - I'm a social guy. I build networks, and I enjoy meeting new people. I try to keep in touch with the people I meet at conventions and conferences, and because of that, I know someone from almost every industry you could think of. Sure, I can't remember all the names, but I do remember faces,
- [Fears of Ravaged Commercial Real Estate Market Have Eased, DoubleLine Says](https://carnm.realtor/fears-of-ravaged-commercial-real-estate-market-have-eased-doubleline-says/) - Recovering risk appetite and tightening spreads in the commercial real estate market mean active managers have to work a little harder, according to DoubleLine Capital LP. The most “draconian” scenarios have been priced out of commercial mortgage-backed securities following the sudden unraveling of Silicon Valley Bank last March, according to DoubleLine portfolio manager Morris Chen.
- [CRE Property Prices Fell 3% Year Over Year](https://carnm.realtor/cre-property-prices-fell-3-year-over-year/) - What has become the usual news on CRE prices continues to be the case, according to an MSCI report; they were down now for the eighth month in a row. However, the rate decline slowed, “led by improvements in the industrial sector,” they wrote, adding that the RCA CPPI National All-Property Index was down 3.0%
- [National Rents Remain Relatively Stable](https://carnm.realtor/national-rents-remain-relatively-stable/) - Overall, national multifamily annual rent changes remain relatively stable, according to Zumper’s latest national rent report. But New York City has seen big gains. In April, Zumper’s rent index for one-bedroom apartments was down 0.6% to $1,486. The two-bedroom index was up 0.1% year over year to $1,843. New apartment inventory, expected to hit a 50-year high
- [Total Commercial Real Estate Borrowing and Lending Declined 47 Percent in 2023](https://carnm.realtor/total-commercial-real-estate-borrowing-and-lending-declined-47-percent-in-2023/) - Total commercial real estate (CRE) mortgage borrowing and lending is estimated to have totaled $429 billion in 2023, a 47 percent decrease from the $816 billion in 2022, and a 52 percent decrease from the record $891 billion in 2021. This is according to the Mortgage Bankers Association’s (MBA) 2023 Commercial Real Estate/Multifamily Finance Annual
- [Commercial real estate foreclosures jumped 117% in March as trouble looms](https://carnm.realtor/commercial-real-estate-foreclosures-jumped-117-in-march-as-trouble-looms/) - The commercial real estate market is starting to buckle under the weight of higher interest rates and remote work. There were 625 commercial real estate foreclosures in March, up 6% from February and 117% from the same time last year, according to a new report published by real estate data provider ATTOM. The figure is calculated based
- [DXD Capital gives update on NE Heights development](https://carnm.realtor/dxd-capital-gives-update-on-ne-heights-development/) - DXD Capital, a real estate and private equity firm, is set to launch its latest venture — a climate-controlled self-storage facility — in Albuquerque's Northeast Heights later this fall. Located at 8041 Ventura St. NE, the three-story facility will measure in at 96,153 square feet with 819 storage units. ARCO/Murray and GMA Architects are the
- [An Albuquerque stadium project advanced last week. This group wants to see more like it.](https://carnm.realtor/an-albuquerque-stadium-project-advanced-last-week-this-group-wants-to-see-more-like-it/) - When Albuquerque's Environmental Planning Commission (EPC) heard a proposal on April 11 to amend the Balloon Fiesta Park master plan, allowing a large soccer stadium for local team New Mexico United on park grounds, more than 100 people tuned in, far surpassing usual EPC hearing turnout. Those 100-plus people included many folks from a new
- [US Office Outlook - Q1 2024](https://carnm.realtor/us-office-outlook-q1-2024/) - The first quarter of 2024 brought mixed results for the U.S. office market—while the macroeconomic picture and occupier demand are improving, negative net absorption remains stubbornly high as major occupiers continue to trim meaningful amounts of space from their portfolios. But despite persistent downsizing, the market is being rebalanced through a robust conversion and redevelopment
- [Declines in office space value present years-long threat to financial system](https://carnm.realtor/declines-in-office-space-value-present-years-long-threat-to-financial-system/) - Trading in florescent office lights for the comfort of home, by 2025, one in five Americans are expected to work remotely, according to the Census Bureau–a trend that terrifies the commercial real estate market and the banks that finance increasingly empty office buildings. Plummeting office property values and high interest rates spell trouble: Economists at
- [How SIOR Is Embracing Change To Move The Office And Industrial Sectors Forward](https://carnm.realtor/how-sior-is-embracing-change-to-move-the-office-and-industrial-sectors-forward/) - Over the past four years, the office and industrial real estate markets have undergone seismic shifts. Since the onset of the pandemic, the office sector has struggled to keep up with evolving workplace demands and expectations. The abrupt shift to remote and hybrid work has led the sector to experience record-high national vacancy at 19.8%. Despite an
- [Commercial Real Estate Foreclosures Surge Amid Economic Challenges](https://carnm.realtor/commercial-real-estate-foreclosures-surge-amid-economic-challenges/) - The commercial real estate market is facing mounting pressure as higher interest rates and the shift to remote work weigh heavily on the sector. A new report by real estate data provider ATTOM reveals a significant uptick in commercial real estate foreclosures, signaling growing distress in the industry. According to the report, there were 625
- [US regional banks seen booking more commercial property losses, loan sales](https://carnm.realtor/us-regional-banks-seen-booking-more-commercial-property-losses-loan-sales/) - U.S. regional banks are expected to set aside more money to cover potential commercial real estate (CRE) losses and sell more property loans as the sector remains under pressure a year after the collapse of Silicon Valley Bank and Signature Bank. Most multifamily loans are made by regional banks, so when New York Community Bank (NYCB.N),
- [Commercial Foreclosures Up 117% Year Over Year](https://carnm.realtor/commercial-foreclosures-up-117-year-over-year/) - The number of commercial foreclosures in the U.S. has steadily increased, from a low of 141 in May 2020 to 625 in March 2024, according to an updated report from ATTOM. That represents a 6% increase from the prior month and a 117% increase from last year. The real estate data tracking firm also noted
- [After Two Year Slump, Prime Multifamily Metrics Uptick in U.S.](https://carnm.realtor/after-two-year-slump-prime-multifamily-metrics-uptick-in-u-s/) - Recent research from CBRE indicates that prime multifamily assets have seen a slight improvement in going-in cap rates, exit cap rates, and unlevered internal rate of return (IRR) targets in Q1, 2024. This marks the first improvement since early 2022, when the Federal Reserve started hiking interest rates. These positive changes suggest that key underwriting
- [Surveys of landlords, occupiers suggest increased confidence in office-space decisions](https://carnm.realtor/surveys-of-landlords-occupiers-suggest-increased-confidence-in-office-space-decisions/) - Office landlords and the tenants they lease space to are both shifting into a new leasing paradigm more than four years after the onset of the Covid-19 pandemic. While it's been well established the pandemic permanently changed norms around in-office versus remote work, it's taken years for landlords and occupiers alike to figure out how
- [March 2024 Commercial Real Estate Market Insights](https://carnm.realtor/march-2024-commercial-real-estate-market-insights/) - During the second month of the year, the Commercial Real Estate (CRE) market presented a mixed picture, with certain sectors showing resilience while others continued to face uncertainties and losses. The office sector has unquestionably borne the brunt of the most severe and persistent challenges than any other CRE category, and its outlook remains uncertain.
- [Why We Expect A Price Recovery In Commercial Real Estate](https://carnm.realtor/why-we-expect-a-price-recovery-in-commercial-real-estate/) - While 2023 was challenging for US commercial real estate (CRE) investors, we believe that it’s “off the floor in 2024,” with real estate poised to start its price recovery sometime in the second half of the year. Think of it as a chain reaction, which starts with fed fund rate reductions. That should help to lower
- [What's Hot In Commercial Real Estate](https://carnm.realtor/whats-hot-in-commercial-real-estate/) - Goodwin Procter, one of the largest law firms in the world, said commercial real estate is ready to rebound. Rate cuts will boost real estate development. WASHINGTON – AI, operational real estate and office conversions are among the commercial real estate trends grabbing Goodwin's attention ahead of our annual Real Estate Capital Markets (RECM) conference.
- [These office buildings are outperforming the broader market. They have one thing in common.](https://carnm.realtor/these-office-buildings-are-outperforming-the-broader-market-they-have-one-thing-in-common/) - The outlook for the U.S. office market remains bleak, with the national vacancy rate hitting another high in the first quarter of this year and losses continuing to mount on loans backed by towers across the country The vacancy rate reached 19.8% in Q1, a new record by Moody Analytics Inc. standards and a rate that's 50 basis points
- [Industrial Markets With the Best Fundamentals](https://carnm.realtor/industrial-markets-with-the-best-fundamentals/) - The industrial sector has probably held up best of any in commercial real estate post-pandemic and during the fall in transactions, values, and rent growth. According to data from Yardi Matrix, the national average rent in February was $7.68 per square foot. That was down four cents from January but still up 7.5% over the
- [Apartment Rents Rise for Third Consecutive Month](https://carnm.realtor/apartment-rents-rise-for-third-consecutive-month/) - The national median asking rent rose for the third consecutive month in March to 0.8%. It’s a pattern driven by a number of factors, including the rising costs of buying a home, a new Redfin report revealed. “Many people are delaying home purchasing plans because monthly payments for homebuyers are near their record high. That’s
- [Commercial real estate is experiencing rising demand](https://carnm.realtor/commercial-real-estate-is-experiencing-rising-demand/) - The commercial real estate market has been on the rise. Many clients are stakeholders looking to buy investment properties, corporations looking to expand business into the area or medical professionals coming to the area to serve the local community. “A lot of companies are looking at this area as the next hot spot of growth,”
- [Apartment Expenses Grow as Insurance Premiums Spike](https://carnm.realtor/apartment-expenses-grow-as-insurance-premiums-spike/) - Although property insurance is only 7% of total expenses, it continues to take a whack at apartment operations with its share of overall costs is growing. Insurance costs spiked most in the Southeast and other areas that suffered from weather-related damage. Obtaining insurance in areas with severe hurricanes, floods, and fires is becoming more difficult.
- [Maybe 20% Vacancies Will Bring a New Normal to Office](https://carnm.realtor/maybe-20-vacancies-will-bring-a-new-normal-to-office/) - Many in CRE have wondered when the office market would finally stabilize and calm. Probably not today, as vacancies have risen to 19.8%, up from 2023 Q4’s 19.6%, according to Bloomberg. Though that isn’t as bad as it sounds. “‘The office stress isn’t quite done yet,’ Thomas LaSalvia, Moody’s head of commercial real estate economics and
- [Apartments.com Publishes Multifamily Rent Report for First Quarter of 2024](https://carnm.realtor/apartments-com-publishes-multifamily-rent-report-for-first-quarter-of-2024/) - Today, Apartments.com – a CoStar Group online marketplace – released an in-depth report of multifamily rent trends for the first quarter of 2024. The U.S. multifamily market staged a strong rebound in demand during the first quarter of 2024, as 104,400 units were absorbed, the highest number since the third quarter of 2021. While the
- [How real estate investors can prepare for an economic rebound](https://carnm.realtor/how-real-estate-investors-can-prepare-for-an-economic-rebound/) - Key takeaways An economic rebound may not be on the immediate horizon, but multifamily investors can still make preparations for the future. Multifamily investors should look at economic indicators, such as housing markets, interest rates, and political and geopolitical dynamics—including the upcoming U.S. election—to get a clearer picture of the economy. Performing market research, proactively reaching
- [How Large Will Losses Be in Commercial Real Estate?](https://carnm.realtor/how-large-will-losses-be-in-commercial-real-estate/) - There will be losses stemming from commercial real estate, or CRE, portfolios for US banks, but they will be manageable for our coverage. We think New York Community Bancorp NYCB was uniquely risky and would have been highlighted as such by our risk screens. Rather than a real estate apocalypse, we see a small to medium drag
- [Downtown Vitality Index: The cities are best-positioned for success in the hybrid era](https://carnm.realtor/downtown-vitality-index-the-cities-are-best-positioned-for-success-in-the-hybrid-era/) - While the hybrid world has dealt a harsh blow to many downtowns across the nation, the lingering impact has been far from uniform. That’s according to the latest Downtown Vitality Index from The Business Journals, which analyzed a variety of metrics affecting downtown activity across more than 40 major metros to determine which central business districts are
- [Industrial Sale Prices Up 9.6% Over Previous Quarter](https://carnm.realtor/industrial-sale-prices-up-9-6-over-previous-quarter/) - Average sale prices for industrial assets saw a considerable increase — up by 9.6% from the previous quarter and by 2% year-over-year, which is notable, considering the challenges posed by rising interest rates, tighter capital markets, and normalizing demand. Properties were trading at an average of $132 per square foot, the latest U.S. industrial market report from
- [Retail, Multifamily Still Landlords’ Markets in This Analysis](https://carnm.realtor/retail-multifamily-still-landlords-markets-in-this-analysis/) - Moody’s CMBS view of CRE markets, with its red-yellow-green traffic light symbolism is once again lighting up U.S. property markets as of the end of 2023. They use data from CBRE Econometric Advisors, sometimes additional information, and score on a 0 to 100 scale. Red, which means under stress, is 0 to 33 and indicates
- [REALTOR® Party News Alert: Chicago Voters Reject Transfer Tax After Advocacy Blitz](https://carnm.realtor/realtor-party-news-alert-chicago-voters-reject-transfer-tax-after-advocacy-blitz/) - The ballots have been counted, and thanks to an uphill fight led by the Illinois REALTORS® and supported by NAR, voters soundly defeated a detrimental real estate transfer tax proposal in Chicago. The tax hike, which was positioned as a way to address housing affordability and rising rates of homelessness, was expected to easily pass
- [Commercial Real Estate Investment Looking Very Positive](https://carnm.realtor/commercial-real-estate-investment-looking-very-positive/) - New retail and leisure research has revealed a boom in commercial real estate activity over 2023. The latest report by the Local Data Company and Green Street, covering key developments across the entire GB retail and leisure market over 2023, shows a spike in numbers of both closures and openings, representing significant churn. The authors
- [Navigating the Choppy Waters of Commercial Real Estate’s New Dynamics](https://carnm.realtor/navigating-the-choppy-waters-of-commercial-real-estates-new-dynamics/) - Commercial real estate is facing a do-or-die moment. The realm of commercial real estate is wading through a quagmire in several significant markets throughout the nation, with grave declines in market value shadowing the low occupancy rates. Notably, some buildings are weathering a staggering 40%-60% devaluation, with landmarks like Chicago’s 300 W. Adams and Boston’s
- [National Association of REALTORS® Reaches Agreement to Resolve Nationwide Claims Brought by Home Sellers](https://carnm.realtor/national-association-of-realtors-reaches-agreement-to-resolve-nationwide-claims-brought-by-home-sellers/) - CHICAGO (March 15, 2024) – The National Association of REALTORS® (NAR) today announced an agreement that would end litigation of claims brought on behalf of home sellers related to broker commissions. The agreement would resolve claims against NAR, over one million NAR members, all state/territorial and local REALTOR® associations, all association-owned MLSs, and all brokerages with
- [From Vacant to Vibrant](https://carnm.realtor/from-vacant-to-vibrant/) - The city of Mt. Pleasant, Mich., home to Central Michigan University, sought to develop a vacant and contaminated parcel of land adjacent to its city hall. After other developers walked away from proposed projects, Michigan Community Capital purchased the site and assembled a creative financing package to move the city’s vision forward. The result is
- [Making Moves in a Complex Age](https://carnm.realtor/making-moves-in-a-complex-age/) - Each year, members of The Counselors of Real Estate vote on the 10 big-picture themes likely to have the greatest influence on real estate in the coming year. Although the Counselors’ 2023–24 list was released back in October, many of these themes have only magnified in importance. In the organization’s published report, CRE members with
- [Troubled Commercial Real Estate—The End Of “Extend And Pretend?](https://carnm.realtor/troubled-commercial-real-estate-the-end-of-extend-and-pretend/) - Sharp reductions in value for office buildings have many waiting for a major collapse in commercial real estate (CRE), which in turn would damage city and state budgets and possibly threaten major bank failures. Thus far, borrowers and lenders have avoided the worst damage. But their delaying tactics may be coming to an end, with
- [Industrial Market Will Resume Expansion in 2025, Experts Say](https://carnm.realtor/industrial-market-will-resume-expansion-in-2025-experts-say/) - NAIOP pinpoints 2025 as when the industrial market will start to expand. It estimates that quarterly net absorption of industrial space will average 14 million square feet per quarter over the next two years, or 62.8 and 49.1 million square feet in 2024 and 2025, respectively. This forecast represents a relative “cooling” trend following what
- [Yesterday Was A Good Day for Industrial Real Estate](https://carnm.realtor/yesterday-was-a-good-day-for-industrial-real-estate/) - Dual announcements yesterday gave industrial real estate’s long-term prospects a significant boost, specifically those facilities that cater to EV and semiconductor manufacturing. In one development, the Environmental Protection Agency issued new tailpipe pollution limits that ensures the majority of new passenger cars and light trucks sold in the US by 2032 are all-electric or hybrids.
- [Apartment Rental Fraud Becoming Increasingly Sophisticated](https://carnm.realtor/apartment-rental-fraud-becoming-increasingly-sophisticated/) - Organized rings of fraudsters and other bad actors are using a range of sophisticated deceptive practices to obtain apartment leasing, according to a new survey of more than 400 property management professionals by RealPage. More than 50% reported seeing diverse types of fake identity, income fraud or approval errors and just 17% currently have a
- [Commercial Real Estate’s Systemic Threat: Separating Fact From Fiction](https://carnm.realtor/commercial-real-estates-systemic-threat-separating-fact-from-fiction/) - They say perception precedes reality. In the case of commercial real estate finance, then, the divergent opinions surrounding the health of capital markets has produced gossip, innuendo, rumors and fear. “Doom loop,” “meltdown,” “downward spiral,” “debt bomb” and “banking crisis” are phrases that regularly appear in articles attached to underwater multifamily portfolios or summaries of
- [Will Commercial Real Estate Sink or Swim in 2024?](https://carnm.realtor/will-commercial-real-estate-sink-or-swim-in-2024/) - In 2024, we anticipate that the commercial real estate industry will continue to face distress with some stabilization. This alert focuses on three subsets of the commercial real estate market: retail, office, and multi-family. Each subset has its own outlook. We predict that the retail industry will likely see fewer bankruptcy filings than in 2023,
- [The commercial real estate time bomb](https://carnm.realtor/the-commercial-real-estate-time-bomb/) - Office vacancy rates have climbed sharply in the wake of the pandemic after falling steadily in the decade before, reaching a record 13.1 percent last year, according to data from the Treasury Department’s Financial Stability Oversight Council (FSOC), citing analytics firm CoStar. “At the midpoint of the third quarter of 2023, the national office vacancy rate hit
- [Commercial Real Estate Trends & Challenges in 2024](https://carnm.realtor/commercial-real-estate-trends-challenges-in-2024/) - The real estate sector has experienced notable growth from shiftingconsumer demand and the COVID-19 pandemic. Grand View Research forecasts a 5.2%annual growth through 2030. However, real estate businesses must prepare for challengessuch as insurance market difficulties, more natural disasters, labor shortagesand social inflation concerns. Explore trends shaping the real estate industryin 2024 to protect your
- [New incentives aim to jumpstart conversions of office buildings. Here's why they won't be a silver bullet.](https://carnm.realtor/new-incentives-aim-to-jumpstart-conversions-of-office-buildings-heres-why-they-wont-be-a-silver-bullet/) - Municipalities have long used incentives to spur investments they hope to see in their cities, or to solve for a persistent problem they've deemed requires private-sector participation. Now, city officials are introducing or expanding upon programs to encourage office-to-residential conversion projects in America's downtowns in the wake of a weak post-pandemic office market. With the
- [Law firm office-leasing activity hit a milestone in 2023. It could fuel a domino effect.](https://carnm.realtor/law-firm-office-leasing-activity-hit-a-milestone-in-2023-it-could-fuel-a-domino-effect/) - The legal industry leased more office space last year than it has since the Covid-19 pandemic. In 2023, U.S. law firms leased a collective 16.9 million square feet, according to Cushman & Wakefield plc (NYSE: CWK). That's not only more office space leased by the sector since the Covid-19 pandemic, but exceeds the amount leased nationally
- [Higher Interest Rates, Lower Demand Equals Less Industrial Construction](https://carnm.realtor/higher-interest-rates-lower-demand-equals-less-industrial-construction/) - During the pandemic, industrial properties were probably the hottest ticket around. The need to distribute and sell products at physical arms-length, the sharp explosion e-commerce, the shutdowns of businesses — logistics, warehousing, and the development of distribution and storage were obvious tools to address the issues. That led to a rush of demand and, as
- [Office Sector Questions Are Beginning to Find Answers](https://carnm.realtor/office-sector-questions-are-beginning-to-find-answers/) - For the office sector, 2023 left lingering questions amid record underperformance in vacancy and net absorption. While there still may be a long way to go, Colliers’ Office Market Outlook report offered some hope, including nearly a third of markets experiencing positive absorption in the fourth quarter and asking rates, by and large, continuing to rise. Michael Lirtzman, the
- [Navigating Commercial Real Estate In 2024: Top Trends To Look Out For](https://carnm.realtor/navigating-commercial-real-estate-in-2024-top-trends-to-look-out-for/) - During my real estate journey, there has been one major learning that I hold paramount: Staying abreast of and informed about emerging trends is key. My father is a real estate developer, so I have grown up around the business of real estate, which ultimately led me to set up a consultancy that just crossed
- [After a quarter-century of conservation, does ABQ have enough water to grow?](https://carnm.realtor/after-a-quarter-century-of-conservation-does-abq-have-enough-water-to-grow/) - With over 300 days of sunshine a year, New Mexico residents are used to waking up to the warmth of the rising sun. However, as the rest of the world also heats up, many environmental experts are worried about increasing temperatures impacting the nation's water supply. In Albuquerque, those concerns have yet to reach a
- [Industrial On Track to Deliver Weakest Q1 Performance in a Decade](https://carnm.realtor/industrial-on-track-to-deliver-weakest-q1-performance-in-a-decade/) - Industrial is feeling a big pinch in the first quarter of 2024. The period isn’t over, so the final figures aren’t in, but according to data from CoStar Group, if the current data trend continues, US industrial net absorption will see the weakest Q1 performance in over a decade. Demand is so far off that
- [Is Steve Mnuchin the Guy to Stop the Commercial Real-Estate Crisis?](https://carnm.realtor/is-steve-mnuchin-the-guy-to-stop-the-commercial-real-estate-crisis/) - Steve Mnuchin, the former Treasury secretary, was the rare figure to have escaped ignominy during the Trump administration, serving four uninterrupted years in his job without a scandal or an indictment to trail him during his time after Washington. Since then, he has spent his time doing the kinds of things wealthy bankers do, like raise
- [Four Commercial Real Estate Trends To Watch In 2024](https://carnm.realtor/four-commercial-real-estate-trends-to-watch-in-2024/) - As we begin 2024, commercial real estate investors are keeping a close eye on the trends most likely to dominate news headlines and impact portfolio performance in the coming year. Most importantly, industry players are learning to cope with the highest borrowing costs seen in over 15 years. At the same time, traditional banks have
- [Post-pandemic Market: Winners and Losers in Commercial Real Estate](https://carnm.realtor/post-pandemic-market-winners-and-losers-in-commercial-real-estate/) - The COVID-19 pandemic has reshaped the commercial real estate market, creating a divide between winners and losers. A variety of factors that include retailers and brands over-expanding, changing consumer behavior and macroeconomic forces such as inflation have set the stage for these conditions to continue for some time. Here, Dan O’Brien, executive vice president and
- [Industrial Expected to Remain Resilient This Year](https://carnm.realtor/industrial-expected-to-remain-resilient-this-year/) - Expect continued resilience but on a muted scale for industrial assets in 2024, according to Newmark, which said in a recent report that economic uncertainty continues to exert pressure on consumers, developers, occupiers, and investors. “Unpredictability in the global supply chain will drive long-term demand for industrial space due to the need for diversified sourcing
- [Another Multifamily Shift: Less Call for Three-Bedroom Units](https://carnm.realtor/another-multifamily-shift-less-call-for-three-bedroom-units/) - There was noted heavy demand for more space during the heights of the pandemic. When offices and schools were closed, along with cafes, libraries, and other places that might offer a place to work or study, people looked for larger living spaces. That could be purchasing a house out of a city, or it could
- [Can commercial real estate bear the high cost of debt?](https://carnm.realtor/can-commercial-real-estate-bear-the-high-cost-of-debt/) - What is the first question CRE managers are asking these days? Alison Chave says it’s interest rates. Commercial real estate is a levered game. The sudden, steep rise in interest rates that took place particularly over 2022-2023, and subsequent volatility, was a real shock to many owners and impacted not only levered returns but created
- [February 2024 Commercial Real Estate Market Insights](https://carnm.realtor/february-2024-commercial-real-estate-market-insights/) - While the U.S. economy remains resilient, the commercial real estate market’s performance during the first month of 2024 shows a nuanced landscape with sector–specific challenges and opportunities. The normalization of hybrid working arrangements continues to negatively impact office demand, increasing the market's unoccupied office spaces. However, the fundamentals of the multifamily, retail, and industrial sectors
- [Can subleases save the commercial real estate market?](https://carnm.realtor/can-subleases-save-the-commercial-real-estate-market/) - By the time you read this, we will have exhausted two months of 2024. Christmas lights will be appearing in home improvement retailers in no time. But I digress. Last month, I wrote about subleases. You might believe this is déjà vu all over again. And, in some ways, it is. It’s just uncanny to
- [Why it’s not all doom and gloom for commercial real estate](https://carnm.realtor/why-its-not-all-doom-and-gloom-for-commercial-real-estate/) - After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. Office and retail property valuations have been falling since the pandemic changed where people live and work, and how they shop. The Fed’s efforts to fight inflation by raising interest rates have also hurt the credit-dependent
- [Here's where office space inventory is actually shrinking — and what's driving the trend](https://carnm.realtor/heres-where-office-space-inventory-is-actually-shrinking-and-whats-driving-the-trend/) - Office inventory is holding steady or shrinking in select cities across the country, due in part to an increase in conversion projects and a slowdown in new construction. That's according to a recent analysis by Savills, which found office inventory shrank in seven metro areas tracked by the commercial real estate firm. Those markets are
- [Apartment Rents Turn Positive After Six Months](https://carnm.realtor/apartment-rents-turn-positive-after-six-months/) - Rent growth has returned to the apartment sector for the first time in six months, according to the March 2024 Apartment List National Rent Report. Staying in line with seasonal tendencies, prices ticked up 0.2 percent last month and today the nationwide median rent stands at $1,377. On a year-over-year basis, rent growth is negative,
- [Property Risks to Watch in 2024](https://carnm.realtor/property-risks-to-watch-in-2024/) - At MBA’s recent CREF conference, the prevalent outlook seemed to be optimism tempered with uncertainty. Many in the commercial real estate lending space believe that things will improve over 2024 to varying degrees depending on the market and sector. The anticipation of future rate reductions and increased transaction volume is somewhat tempered by concern about risks
- [Multifamily's Bounce Back Will Be Sharpest in These Markets](https://carnm.realtor/multifamilys-bounce-back-will-be-sharpest-in-these-markets/) - It’s not quite “Don’t Worry, Be Happy,” but a new note from CBRE emphasizes that multifamily problems will eventually end. “Markets are never static and strong rent increases are likely to resume in traditionally higher growth cities as excess supply is absorbed,” they wrote. Negative results in commercial real estate are nothing new. As with
- [JPMorgan's Jamie Dimon isn't too worried about commercial real estate](https://carnm.realtor/jpmorgans-jamie-dimon-isnt-too-worried-about-commercial-real-estate/) - JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon believes commercial real estate issues will only worsen if there is a recession, and a lot of property owners can handle the current level of stress. "If we don't have a recession, I think most people will be able to muddle through this, refinance, put more equity in," he told
- [Commercial real estate is in big trouble — and the problems may have major financial fallout](https://carnm.realtor/commercial-real-estate-is-in-big-trouble-and-the-problems-may-have-major-financial-fallout/) - The tremors rattling US commercial real estate are spreading to other countries and sectors, and threaten to escalate into a financial earthquake as refinancing deadlines loom. Some investors aren't worried about falling through the cracks, though. They think the climate of fear and confusion is serving up prime properties at bargain prices. There are growing
- [Will CRE Portfolio Deals Return in 2024?](https://carnm.realtor/will-cre-portfolio-deals-return-in-2024/) - When a Fortune 500 company puts a massive apartment portfolio consisting of 11,000 communities on the market, people take notice and ask questions. “Investors can draw conclusions from the Lennar portfolio sale that even the largest operators become adversely affected by the changes in the construction debt market and loans coming due,” says David Evans, Kidder Mathews senior
- [Commercial Mortgage Lending in U.S. Shows Signs of Stabilization in Late 2023](https://carnm.realtor/commercial-mortgage-lending-in-u-s-shows-signs-of-stabilization-in-late-2023/) - According to new data from CBRE, commercial real estate lending in the U.S. demonstrated signs of stabilization at the end of 2023, with borrowing costs appearing to have peaked, even as transaction activity remains subdued. The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the U.S., increased by 1.0%
- [Economic downturn, tech slump send commercial real estate prices tumbling](https://carnm.realtor/economic-downturn-tech-slump-send-commercial-real-estate-prices-tumbling/) - Rental prices for office space in Israel plunged by 16 percent last year, as tech firms — global and local — have been downsizing and driving up the supply of commercial property, according to a report by commercial real estate consulting firm Cushman and Wakefield Inter Israel. The data shows that the average price per
- [KC Fed commercial real estate index continues to fall, but numbers don't tell full story](https://carnm.realtor/kc-fed-commercial-real-estate-index-continues-to-fall-but-numbers-dont-tell-full-story/) - The Federal Reserve Bank of Kansas City’s commercial real estate index continued to drop in the last quarter of 2023, with falling absorption rates and lower loan demand being the primary culprits. The Kansas City branch monitors economic trends in the Federal Reserve's Tenth District, which includes Albuquerque, Santa Fe and much of the northern
- [Retail's Occupancy Expected to Be Highest in CRE](https://carnm.realtor/retails-occupancy-expected-to-be-highest-in-cre/) - Retail is positioned to become the US’ highest occupancy commercial real estte category, according to a new report from Marcus & Millichap. The firm said this long-term forecast is bolstered by a consumer base that is expected to grow by more than 4.8 million households from 2024 to 2028, notably eclipsing the prior five-year tally.
- [The Changing Direction of Industrial CRE](https://carnm.realtor/the-changing-direction-of-industrial-cre/) - The future of industrial CRE is strong, but advancing in a new direction, according to a report from Newmark and NAIOP. CRE for advanced manufacturing is the wave of the future, while warehousing and distribution take a back seat, the report finds. It predicts new construction related to the high tech, automotive, energy and biomanufacturing
- [The Rent Burden Has Eased But Not for Everyone](https://carnm.realtor/the-rent-burden-has-eased-but-not-for-everyone/) - The year 2022 was a tough one for renters. The rent-to-income, or RTI, ratio peaked, driven by high multifamily rent increases that were chasing growing property prices and falling cap rates. Last year was an improvement, at least in theory, according to Moody’s Analytics CRE. A combination of decelerating rent increases — negative growth, even — and
- [Office and Retail Can Find Value in Teaming Up](https://carnm.realtor/office-and-retail-can-find-value-in-teaming-up-2/) - Office landlords are increasingly willing to invest in and collaborate with local retailers, making upfront investments to sustain the space and bolster the overall building environment, according to a new report from Colliers. This is vital for all parties, including jurisdictions with the capability of converting some space to residential, which could ease demand for
- [What Many Get Wrong About the US Office Market](https://carnm.realtor/what-many-get-wrong-about-the-us-office-market/) - There’s a widely accepted narrative about the office market: Covid-19 came and companies, often under government demand, closed their offices and had people work from home. When things returned more or less to normal, employees didn’t want to return, despite executive insistence. Because of tight labor markets, employees had more leverage, so office buildings faced
- [Office Agony Isn’t Over, Says Morgan Stanley](https://carnm.realtor/office-agony-isnt-over-says-morgan-stanley/) - There have been two camps on the immediate future of office properties. One — the larger it seems — say the pain will continue. The other sees better times, at least if the office is a Class-A or trophy. Put Morgan Stanley into the first camp. In a recent note from the bank, according to Business Insider, which
- [Office and Retail Can Find Value in Teaming Up](https://carnm.realtor/office-and-retail-can-find-value-in-teaming-up/) - Office landlords are increasingly willing to invest in and collaborate with local retailers, making upfront investments to sustain the space and bolster the overall building environment, according to a new report from Colliers. This is vital for all parties, including jurisdictions with the capability of converting some space to residential, which could ease demand for
- [6 Commercial Real Estate Trends to Watch](https://carnm.realtor/6-commercial-real-estate-trends-to-watch/) - Experts say 2024 may be an opportunity for the commercial housing market to get back on solid footing by embracing shifting preferences and emerging trends. WASHINGTON – As we enter a new year, the commercial real estate industry finds itself at yet another crossroads. The market is continuing to take shape and redefine itself after
- [Dark days are coming for US commercial real estate and the banks holding the loans](https://carnm.realtor/dark-days-are-coming-for-us-commercial-real-estate-and-the-banks-holding-the-loans/) - The banking worries in the US this week were triggered by: New York Community Bancorp cutting its dividend on higher capital rules and commercial strain A Japanese bank reporting unexpected losses on US commercial real estate Deutsche Bank highlighting losses on US commercial real estate Despite all the economic data this week, it was those
- [What Multifamily Rent Growth Patterns Will Look Like This Year](https://carnm.realtor/what-multifamily-rent-growth-patterns-will-look-like-this-year/) - In 2023, national average asking rents increased by 1.6% in the multifamily rental market, according to a report from Yardi Matrix. The rent growth story is expected to be different this year, with Yardi Matrix forecasting two main shifts in this market. First, record available supply is expected to depress rent appreciation in many of
- [Navigating Apartment Markets' Supply-Demand Issues](https://carnm.realtor/navigating-apartment-markets-supply-demand-issues/) - As apartment investors wade through the headlined, oversupplied markets, there is the chance they could capitalize on lesser-publicized markets, according to panelists at National Multifamily Housing Council’s Apartment Strategies Conference. Speaking last week at the event in San Diego, Jay Parsons, SVP, Chief Economist, RealPage, said demand has not been a challenge. “We’re bullish about
- [Who's Right About CRE?](https://carnm.realtor/whos-right-about-cre/) - There’s a lot of concern about commercial real estate in the industry, in the press, among experts. Is it as bad as all that? Depends on whom you ask and what type of property you mention. Colliers U.S. CEO Gil Borok was recently on CNBC with a view on the cautiously rosier side. When asked if many
- [NAR Commercial Real Estate Metro Market Report | 2023.Q3 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2023-q3-albuquerque-nm/) - The Albuquerque, NM commercial real estate market is stronger compared to the overall U.S. market. NAR Commercial Real Estate Market Conditions Index* 52.0 Overall economic conditions are stronger than nationally. The apartment property market is not as strong than nationally. The office property market is stronger than nationally. The industrial property market is not as
- [The year ahead: Will commercial real estate see lower interest rates and lower inflation in 2024?](https://carnm.realtor/the-year-ahead-will-commercial-real-estate-see-lower-interest-rates-and-lower-inflation-in-2024/) - What will the commercial real estate market look like in 2024? Real estate leaders expect it to be different from the past two years. In 2022 and 2023, the commercial real estate market felt the impact of higher interest rates, inflation and energy issues related to conflicts around the globe. With interest rates stabilized, inflation
- [December 2023 Commercial Real Estate Market Insights](https://carnm.realtor/december-2023-commercial-real-estate-market-insights/) - In 2023, inflation and interest rates emerged as the twin pillars steering the economic landscape and, consequently, the dynamics of the commercial real estate sector. In pursuit of lower inflation, the Federal Reserve implemented multiple interest rate hikes throughout the year. One of the most direct effects of these higher interest rates was the increased
- [Commercial Real Estate Market Predicted to Rebound in 2024](https://carnm.realtor/commercial-real-estate-market-predicted-to-rebound-in-2024/) - The battered commercial property business will likely see a rebound later this year. That’s the forecast from top analysts at Dallas-based CBRE Group, one of the world’s largest commercial real estate firms. “We expect 2024 will be decidedly different for real estate investors,” Darin Mellott, head of Americas capital markets research for CBRE, which moved
- [Commercial real estate could hit a breaking point this year as falling property values spur bankruptcies and forced selling, research firm says](https://carnm.realtor/commercial-real-estate-could-hit-a-breaking-point-this-year-as-falling-property-values-spur-bankruptcies-and-forced-selling-research-firm-says/) - Commercial real estate could face a reckoning this year as property values continue to fall, according to Capital Economics. The research firm pointed to the difficulties commercial real estate faced last year, with property values falling an estimated 11%. Prices are set to fall another 10% this year, the firm estimated, spelling trouble for the
- [What will be the biggest retail trends in Albuquerque this year? Colliers broker responds.](https://carnm.realtor/what-will-be-the-biggest-retail-trends-in-albuquerque-this-year-colliers-broker-responds/) - Retail broker Ben Perich was named senior vice president and principal at Colliers International in 2022. His role involves selling and leasing commercial retail space in the New Mexico and El Paso markets. Perich serves as one of 10 board of directors for the company. Albuquerque Business First recently chatted with him about what retail
- [CBRE broker says smaller footprints, shorter-term office renewals trends to watch in 2024](https://carnm.realtor/cbre-broker-says-smaller-footprints-shorter-term-office-renewals-trends-to-watch-in-2024/) - In October, Shona Martinez joined CBRE as a senior associate, specializing in office landlord and tenant representation. Martinez has more than 14 years of combined experience working for commercial real estate and financial services companies in the U.S. and the United Kingdom. Prior to joining CBRE, Martinez was a vice president at Colliers, where she
- [King Capital broker says this will be key part of deals in 2024](https://carnm.realtor/king-capital-broker-says-this-will-be-key-part-of-deals-in-2024/) - King Capital, a local commercial real estate firm, hired Jeannie Randolph as its vice president of business brokerage in 2023 to bridge the gap between a commercial real estate expert and a business broker. Her role involves conducting an in-depth analysis of the finances and assets of a business. Albuquerque Business First talked with Randolph
- [Analysis Industrial’s Vacancy Rate Tops 5% for First Time in Three Years](https://carnm.realtor/analysis-industrials-vacancy-rate-tops-5-for-first-time-in-three-years/) - With demand muted and speculative construction completions persisting at a healthy rate, the industrial vacancy rate has crossed the 5% threshold after ticking up by 60 basis points to 5.2%, according to Cushman & Wakefield’s Q4 industrial report. The rate has not been this high since Q3 2020, but it remains 120 basis points below
- [Industrial Vacancy Rate Expected to Peak at 6.5% in H2](https://carnm.realtor/industrial-vacancy-rate-expected-to-peak-at-6-5-in-h2/) - The industrial vacancy rate topped 5% in the fourth quarter for the first time in three years and that trend is expected to continue through 2024 as new supply outstrips demand, according to Colliers’ Craig Hurvitz in a new report. He said the vacancy rate is forecast to stabilize at around 6.5% during the second
- [Multifamily Rent Growth Ends 2023 on a Falling Note](https://carnm.realtor/multifamily-rent-growth-ends-2023-on-a-falling-note/) - As the New Year rolls in, 2023 is hanging on when it comes to multifamily rent growth. Apartment List reported that the market closed in December with national median rent dropping 0.8% to $1,379. That was the fifth month in a row in which rent growth was negative. Year-over-year growth has dwindled to -0.1%, making
- [Apartment Supply to Thin Out Dramatically After This Year](https://carnm.realtor/apartment-supply-to-thin-out-dramatically-after-this-year/) - It has been 36 years since the U.S. had so many apartments available for rent, according to a new RealPage report. And the effect has been predictable: rents have fallen in markets where there has been the most growth, even though demand has rebounded. Indeed, in 4Q 2023 —a traditionally slow quarter – 58,000 apartments
- [Here’s Some Optimism for Office](https://carnm.realtor/heres-some-optimism-for-office/) - Doom and office are words that have been known to accompany each other these days. In terms of office properties selling for a loss more frequently, one analysis recently stated, “The doom loop for office properties appears to be a nationwide phenomenon.” And there’s been plenty of speculation that the combination of outmigration and fall in
- [No one is throwing good money after bad.’ Why 2024 looks like trouble for commercial real estate.](https://carnm.realtor/no-one-is-throwing-good-money-after-bad-why-2024-looks-like-trouble-for-commercial-real-estate/) - First goes the easy money, then come the defaults, especially when property owners have already cashed out. Investors are bracing for 2024 to be pretty gloomy in the U.S. commercial real-estate market, with more landlords expected to throw in the towel on downtrodden buildings with debt coming due. Higher interest rates and wobbling property values
- [Return to the office is dead’: Stanford economist says the US is 'stuck' with remote work as more offices sit empty — is the bell tolling for commercial real estate?](https://carnm.realtor/return-to-the-office-is-dead-stanford-economist-says-the-us-is-stuck-with-remote-work-as-more-offices-sit-empty-is-the-bell-tolling-for-commercial-real-estate/) - The great post-pandemic return to office (RTO) is a polarizing issue in the U.S. labor market. While many companies want their workers to return to the office for at least a few days a week — seeking better communication, increased productivity and a return on investment (ROE) for their expensive office real estate — the
- [Commercial real estate volume may pick up in 2024 as Federal Reserve signals interest-rate cuts](https://carnm.realtor/commercial-real-estate-volume-may-pick-up-in-2024-as-federal-reserve-signals-interest-rate-cuts/) - Commercial real estate transactions slowed considerably in 2023, amid high interest rates, declining values and pricing uncertainty. Investment volume declined by 42% in 2023 from the prior year, according to CBRE Group Inc. (NYSE: CBRE). The Dallas-based commercial real estate firm is expecting deal volume to be down again in 2024, but by a more
- [Industrial Rent Growth Will Temper to Historical Averages Next Year](https://carnm.realtor/industrial-rent-growth-will-temper-to-historical-averages-next-year/) - Industrial and logistics rent growth has tempered a bit from its unprecedented high rate of the past 24 months, according to Colliers, which expects 2024 to see rates fall in line with the historical averages of between 3% and 8%. With supply increasing while demand slows, rent growth should continue to slow throughout 2024 but
- [Industrial’s Supply-Demand Should Balance by End of 2024](https://carnm.realtor/industrials-supply-demand-should-balance-by-end-of-2024/) - After unprecedented, accelerated growth in 2021 and 2022, industrial and logistics operators have taken their foot off the gas when it comes to new development and has even hit the brakes – at least this year – according to a new report from Colliers. New supply tallies have set all-time highs of 450 million square
- [Data Show Industrial, Multifamily Still in Correction](https://carnm.realtor/data-show-industrial-multifamily-still-in-correction/) - Industrial and multifamily continued in their corrections mode last month, while retail performed best with four months straight of pricing gains, according to data from Crexi that is based on properties in its database. Office occupancy went unchanged in November and industrial rents were stagnant. For-sale properties on Crexi experienced a seventh month of pricing
- [Why Maintaining Multifamily Occupancy Will be Tough Next Year](https://carnm.realtor/why-maintaining-multifamily-occupancy-will-be-tough-next-year/) - It’s going to be tough for apartment operators to maintain occupancies in a slowing economy, although property fundamentals should hold up in 2024 among a few challenges, according to a new report from Yardi Matrix. Among the challenges are the wave of deliveries, limiting expense growth, rising mortgage rates, and dealing with more expensive and
- [What the Soft Landing Could Look Like for CRE Next Year](https://carnm.realtor/what-the-soft-landing-could-look-like-for-cre-next-year/) - A soft landing has been “baked in” for next year (but it is not guaranteed) and the pace of growth for commercial real estate will be slower in 2024 than it was in 2023, according to a new industry forecast video by Marcus & Millichap reviewing its macro perspective based on US averages. “Individual assets,
- [How CRE Fared in 2023's Non-Recession](https://carnm.realtor/how-cre-fared-in-2023s-non-recession/) - It was widely believed that the US would be in a recession by now, but that is not the case – it’s one of several 2023 forecasts that didn’t play out exactly how many thought it would. As the year comes to an end, Marcus & Millichap looked at commercial real estate’s asset classes to
- [Prediction: Multifamily Distress Will Start in H2 2024](https://carnm.realtor/prediction-multifamily-distress-will-start-in-h2-2024/) - Waiting for the distress wave in multifamily has been a thing since the fall of 2022. Many pros have been telling GlobeSt.com that it had to come. Interest rates that kept going up, too many deals at near zero interest and high leverage, banks shying off from lending, jumps in longer-term Treasury yields, and owners
- [Moody's Analytics: 76% of office CMBS loans face high risk of unsuccessful refinancing in 2024](https://carnm.realtor/moodys-analytics-76-of-office-cmbs-loans-face-high-risk-of-unsuccessful-refinancing-in-2024/) - The office market is staring down a tough 2024 as loans backing those properties come due and borrowers face issues at refinancing. And given higher interest rates and lenders' added scrutiny of all commercial real estate loans, it's unlikely any real estate sector will be spared from a more challenging 2024. Moody's Analytics Inc. found an estimated
- [Multifamily loans will face a critical test in 2024 and beyond](https://carnm.realtor/multifamily-loans-will-face-a-critical-test-in-2024-and-beyond/) - Long a darling of the commercial real estate industry, the rental housing market is showing warning signs, as slowing rent growth and demand, higher interest rates, and greater operational expenses test multifamily owners and developers. The U.S. apartment market absorbed 90,827 units in the third quarter, according to RealPage Inc. While that's an improvement from
- [CRE Pricing Forecast Is Down, Down, Down](https://carnm.realtor/cre-pricing-forecast-is-down-down-down/) - To summarize Colliers’ Q3 capital markets snapshot is done by looking at one graphic. Their quarterly pricing forecast for office, industrial, multifamily, retail, and hospital is down, down, down, down, and down. The company explained the overall results through a number of factors: Although GDP growth in Q3 was an annualized 5.2% on revision, which
- [Multifamily Maturities Weaken, While Office Improves](https://carnm.realtor/multifamily-maturities-weaken-while-office-improves/) - The pattern of analyzing CRE loans of late has been shaking heads at the progress of maturing office properties and taking some solace in some other property types like office. But in what Moody’s Analytics CRE called an October surprise that had nothing to do with a political election, the tables turned. Office improved while
- [Industrial and Multifamily Sectors Face Challenges, Slowdown](https://carnm.realtor/industrial-and-multifamily-sectors-face-challenges-slowdown/) - After steady increases, demand for industrial and multifamily space appears to be slowing significantly. Lee & Associates’ 2023 Q3 North America Market Report shows US industrial net growth down 68% in comparative third quarters. The multifamily sector also felt a sharp increase in vacancies and the lowest rent growth on record. Jeff Rinkov, CEO of the broker-owned real estate services firm, points to
- [There Are Some Good CRE Opportunities Looking Ahead](https://carnm.realtor/there-are-some-good-cre-opportunities-looking-ahead/) - Looking ahead to what commercial real estate might do in 2024, which is what PGIM Real Estate just did in a report, requires a baseline starting point. It’s a complex one. “Real estate is adjusting to elevated interest rates, with expectations of buyers and owners still far apart,” the report said. “We estimate those expectations
- [Navigating Acceleration Clauses in Commercial Real Estate Transactions](https://carnm.realtor/navigating-acceleration-clauses-in-commercial-real-estate-transactions/) - In the realm of commercial real estate transactions, acceleration clauses play a pivotal role. They are integral components of loan agreements, which can potentially impact the borrower’s financial standing significantly. Understanding and navigating acceleration clauses can be complex, but with a comprehensive grasp of their implications, borrowers can make informed decisions and mitigate potential risks.
- [Commercial Real Estate Lending in U.S. Shows Signs of Stabilizing in Late 2023](https://carnm.realtor/commercial-real-estate-lending-in-u-s-shows-signs-of-stabilizing-in-late-2023/) - According to the latest research from CBRE, the commercial real estate lending market is beginning to stabilize, with borrowing costs appearing to have peaked, even as transaction activity remains subdued. The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the U.S., declined by 3.0% from Q2 2023 and 47.9%
- [The Clearest Sign Yet That Commercial Real Estate Is in Trouble](https://carnm.realtor/the-clearest-sign-yet-that-commercial-real-estate-is-in-trouble/) - Foreclosures are surging in an opaque and risky corner of commercial real-estate finance, offering one of the starkest signs yet that turmoil in the property market is worsening. Lenders this year have issued a record number of foreclosure notices for high-risk property loans, according to a Wall Street Journal analysis. Many of these loans are
- [The looming office space real estate shortage. Yes, shortage](https://carnm.realtor/the-looming-office-space-real-estate-shortage-yes-shortage/) - There is more pain to come in the office real estate market across the U.S., with maturing debt needing to be refinanced and a wave of expiring leases, but there is also what may seem at first brush to be a counter-intuitive message being sent to top tier companies by real estate intelligence company CoStar Group: prepare for an office
- [Industrial Sales Lowest Since 2017](https://carnm.realtor/industrial-sales-lowest-since-2017/) - Not long ago, industrial was the CRE darling. Valuations were high, as was demand. Rents kept escalating as problems with global supply chains and a rapid expansion of e-commerce drove unending demand. Well, unending until now. Unusual situations that act as drivers are almost by definition temporary and will begin to relax. When they do,
- [Multifamily Loans Pose Risk to Regional Banks](https://carnm.realtor/multifamily-loans-pose-risk-to-regional-banks/) - Data is starting to show that the multifamily segment is facing more pressure than perhaps many realized. Moody’s Analytics CRE recently brought up the question of whether it was time to worry about multifamily, based on September’s CMBS payoff rates. “We were quite surprised to see a particularly poor September showing for Multifamily in our analysis of
- [Apartment Concessions Undercutting Rising Rents](https://carnm.realtor/apartment-concessions-undercutting-rising-rents/) - Residential rental concessions are hitting a two-year high with 30% of listing offering at least one concessions, according to Zillow based on its own rental listings. The previous recent high was in February 2021, where 37% of listings offered concessions. Because the data set is all through Zillow, it would be considered self-selected and so
- [In-N-Out buys land from University of New Mexico for $2 million in South Campus TIDD](https://carnm.realtor/in-n-out-buys-land-from-university-of-new-mexico-for-2-million-in-south-campus-tidd/) - Popular fast food chain In-N-Out Burger, which recently announced it was coming to Albuquerque in 2027, has purchased a 2-acre plot for $2 million from the University of New Mexico. The land, located at the corner of Gibson Boulevard and Interstate 25, is part of the South Campus Tax Increment Development District (TIDD), a 340-acre area pitched
- [New Mexicans to Know: Scott Whitefield becomes CBRE vice president, again](https://carnm.realtor/new-mexicans-to-know-scott-whitefield-becomes-cbre-vice-president-again/) - Former principal of Colliers New Mexico-El Paso joins CBRE as the firm's new vice president. Now in his second stint with the firm, Scott Whitefield is specializing in office landlord and tenant representation with CBRE. Whitefield previously served as the company’s vice president in 2007 before pursuing a nine-year career at Colliers International. During that time, Whitefield leased more than 3 million
- [Titan Development to create thousands of ready-to-build residential lots at Mesa del Sol](https://carnm.realtor/titan-development-to-create-thousands-of-ready-to-build-residential-lots-at-mesa-del-sol/) - Mesa del Sol is partnering with Titan Development to prep thousands of residential lots on the western edge of the community. In a joint news release Tuesday, the two businesses said the first lots will be delivered by mid-2024. The process will turn the untamed land west of current housing in Mesa del Sol into
- [MBA: Commercial Real Estate Falls in Q3](https://carnm.realtor/mba-commercial-real-estate-falls-in-q3/) - The Mortgage Bankers Association said third-quarter commercial loan production fell again in the third quarter, approaching levels not seen since the start of the COVID-19 pandemic. The MBA’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations released Tuesday showed volume for all lenders in the three months ending Sept. 30 was 49% lower than a year earlier and
- [Office Market Braces for Growing Pipeline of Distressed Sales](https://carnm.realtor/office-market-braces-for-growing-pipeline-of-distressed-sales/) - Many office property owners are heading for the exits amid weaker demand and looming debt maturities, while opportunistic private equity groups are leaning in to capture what could be once-in-a-generation buying opportunities. “This is a moment in time where there is a lot of distress and more distress coming. But that distress is going to
- [How Commercial Real Estate Brokerages Are Leveraging Technology](https://carnm.realtor/how-commercial-real-estate-brokerages-are-leveraging-technology/) - Driven by technological advancements, the world of commercial real estate has undergone significant transformation in recent years, which has become very evident in investment sales. Specializing in multifamily investment sales in Texas, I’ve seen firsthand how technology is changing our day-to-day business for the better. Here are five ways brokerages are using technology. 1. Underwriting
- [Commercial Real Estate Will Revitalize](https://carnm.realtor/commercial-real-estate-will-revitalize/) - NAR Chief Economist Yun: Except for office space, commercial property rates are expected to stabilize, though higher interest rates are impacting commercial loans. ANAHEIM, Calif. – Commercial property rates are expected to stabilize – aside from office space – and commercial real estate will revitalize, according to NAR Chief Economist Lawrence Yun. Yun presented yesterday
- [Is the Commercial Real Estate Panic Overblown?](https://carnm.realtor/is-the-commercial-real-estate-panic-overblown/) - Since the COVID lockdowns, one of the pervasive market narratives has been the demise of commercial real estate. With many Americans now working entirely remotely or in hybrid arrangements, offices are much less central to white-collar jobs. That impacts the market for office buildings, but also businesses in downtown areas of cities across America. Without
- [CRE Price Declines are Starting to Stabilize](https://carnm.realtor/cre-price-declines-are-starting-to-stabilize/) - Trepp regularly watches property prices, using an index technique to show relative strength compared to some baseline year. Right now the Trepp Property Price Index, self-described as a “vital tool for gauging the health of commercial real estate,” has seen a continuous decline since mid-2022. Quarter over quarter, it declined 1.8% in Q2 of 2023 and
- [Apartment Rents Fall a Second Straight Month - This Time by $3](https://carnm.realtor/apartment-rents-fall-a-second-straight-month-this-time-by-3/) - Rents in October fell by $3, according to Yardi Matrix, marking the second consecutive month of downward data. The Northeast and Midwest showed modest growth, but it was offset by declines in the Sun Belt and West. The average U.S. asking rent fell $3 to $1,718 in October, while year-over-year growth fell to 0.4%, down
- [Office Asking Rents Hold Firm as Vacancies Increase](https://carnm.realtor/office-asking-rents-hold-firm-as-vacancies-increase/) - The record high vacancy rate established during the Global Financial Crisis is “being comfortably put in the rearview mirror,” according to Colliers’ Steig Seaward in his firm’s Q3 US Office report. The vacancy rate increased by 30 basis points for the second consecutive quarter and sits at 16.7%, putting it 40 bps higher than the
- [A Snapshot of Changing Market Trends](https://carnm.realtor/a-snapshot-of-changing-market-trends/) - Rigorous risk management needs to be the watchword for lenders in the world of commercial real estate amid the uncertainties afflicting most segments of the market, according to CoStar. “The rapidly changing market conditions underscore the importance of monitoring market trends and LTV [loan to value] with live data as an essential factor in managing
- [2023 Federal Economic Area Report](https://carnm.realtor/2023-federal-economic-area-report/) - Read the current Federal Economic Area Report provided by CARNM and RPR. This report offers real estate professionals a window into demographics and consumer behavior in the state of New Mexico. View the report here.
- [Industrial Market Rebalances as E-commerce Growth Normalizes in U.S.](https://carnm.realtor/industrial-market-rebalances-as-e-commerce-growth-normalizes-in-u-s/) - The e-commerce boom that began in the early days of the pandemic helped send demand for industrial real estate to never-before-seen heights, but as growth has normalized, a rebalancing has taken shape, according to CommercialEdge's latest 2023 U.S. industrial market report. E-commerce sales volume exploded in 2020, a shock that reshaped retail as we knew
- [Top 10 Roadblocks for the Real Estate Market in 2024](https://carnm.realtor/top-10-roadblocks-for-the-real-estate-market-in-2024/) - Global unrest, economic uncertainty and eroding home affordability are among the top issues facing the real estate industry over the next year, according to The Counselors of Real Estate’s annual report, “Top 10 Issues Affecting Real Estate(link is external).” Each year, CRE surveys 1,000 real estate experts to gauge the emerging issues that could have
- [White House unveils office-to-residential conversion guidance that could unlock billions for projects](https://carnm.realtor/white-house-unveils-office-to-residential-conversion-guidance-that-could-unlock-billions-for-projects/) - The Biden administration is unrolling new guidelines on how federal programs and funding can be leveraged to convert vacant office properties into other uses, chiefly residential. The White House on Oct. 27 unveiled the series of measures aimed at making it easier for building owners to convert their properties, with a special emphasis on projects
- [How Advisors Can Address the Risks Currently Facing Client Portfolios](https://carnm.realtor/how-advisors-can-address-the-risks-currently-facing-client-portfolios/) - Like many investors, your clients may have concerns about the current economic landscape. Persistent inflation has been frustrating, and higher interest rates have increased the cost of borrowing. Many forecasters have predicted a recession in late 2023 or in 2024, an economic downturn that would surely impact investment portfolios. Clients may be asking questions (even if
- [Multifamily Developers Take a Practical View of Risk](https://carnm.realtor/multifamily-developers-take-a-practical-view-of-risk/) - LOS ANGELES—Interest rates represent just one of the many factors impacting the development of multifamily housing, as highlighted by Daniel Doyle, Chief Operating Officer of the Beach Co., during a recent development session at the GlobeSt. Multifamily Fall Conference. He shared, “Our plan for this year was to kick start four projects, but as of
- [White House Unveils Plan For Residential Conversion Push](https://carnm.realtor/white-house-unveils-plan-for-residential-conversion-push/) - The White House announced a plan on Friday to help commercial property owners — with a focus on office — convert buildings to residential use. “These announcements will create much-needed housing that is affordable, energy efficient, near transit and good jobs, and reduce greenhouse gas emissions, nearly 30 percent of which comes from the building
- [CBD Office Once Held the Distress Advantage Over Suburban. No Longer](https://carnm.realtor/cbd-office-once-held-the-distress-advantage-over-suburban-no-longer/) - The office sector has faced significant challenges since the pandemic, with U.S. commercial mortgage-based securities, or CMBS, having seen default rates jump by nearly a factor of four since the pandemic. But there’s also been a fundamental shift in how the submarkets of central business district and suburban offices act — and they make up 90%
- [October 2023 Commercial Real Estate Market Insights](https://carnm.realtor/october-2023-commercial-real-estate-market-insights/) - In the final quarter, there is usually the opportunity to end a year and start the next year strong. Although the third quarter of the year has already ended, there is still much uncertainty in the market since the Federal Reserve continues its tightening monetary policy. The labor market remains firm, and the U.S. economy
- [How the Multifamily Industry Survived 2023](https://carnm.realtor/how-the-multifamily-industry-survived-2023/) - LOS ANGELES—During a recent capital and lending session at the GlobeSt. Multifamily Fall Conference, experts discussed the evolving financial landscape. They reflected on the period from 2011 to 2012 when rates remained relatively stable, with 2020 seeing a significant drop due to the impact of Covid-19. By March 2022, the focus shifted to tackling bridge
- [What Apartment Rent Growth Will Look Like in 2024 According to One Economist](https://carnm.realtor/what-apartment-rent-growth-will-look-like-in-2024-according-to-one-economist/) - For five straight months apartment rents have dipped, with the latest numbers for September showing that overall prices were down 0.7% year over year, according to Realtor.com. It found that median asking rents in the 50 largest metros dropped to $1,747, down $29 from the peak seen in July 2022. It is now more economical
- [What High Interest Rates Mean For Commercial Real Estate Investors](https://carnm.realtor/what-high-interest-rates-mean-for-commercial-real-estate-investors/) - Interest rates play a pivotal role in commercial real estate, as they have a profound influence on investment decisions and market dynamics. The commonly held belief suggests that low interest rates are favorable for investors because they often reduce borrowing costs and increase the feasibility of real estate projects. However, through my work in the
- [Distressed commercial real estate debt hit $80 billion last quarter, the highest amount in a decade](https://carnm.realtor/distressed-commercial-real-estate-debt-hit-80-billion-last-quarter-the-highest-amount-in-a-decade/) - Pressures are building on the commercial real estate sector, with distressed debt on commercial properties climbing to a 10-year record the past quarter. The value of commercial real estate properties that were in bankruptcy, repossessed, or in the process of liquidation ballooned to $80 billion over the third quarter, according to data from MSCI Real
- [Former home of Macaroni Grill finds new tenant](https://carnm.realtor/former-home-of-macaroni-grill-finds-new-tenant/) - The former home of Macaroni Grill has found a new tenant. Fidelity Investments, a financial services firm, will take over the out-parcel site at 2100 Louisiana Blvd. NE. in the Winrock Town Center. The restaurant was torn down this past summer after sitting vacant for years following a fire in 2019. The new building will
- [Banks have pulled back from office real estate but no CRE sector 'will be spared'](https://carnm.realtor/banks-have-pulled-back-from-office-real-estate-but-no-cre-sector-will-be-spared/) - Banks — historically the primary lender to commercial real estate — are pulling back significantly on their lending activity within the sector. It's creating ripple effects that are already dampening a broad range of activities within commercial real estate, including new development and refinancing. Compared to August 2022, loans on nonresidential properties declined 3.8% in
- [Multifamily Remains a ‘Favored Nation’ CRE Asset Class](https://carnm.realtor/multifamily-remains-a-favored-nation-cre-asset-class/) - Multifamily remains the most attractive asset class in commercial real estate, with industrial and self-storage not far behind, according to Leo Leyva, co-chair of the Litigation, Real Estate and Real Estate Special Opportunities departments at the law firm Cole Schotz. “Multifamily is your ‘favored nation’ asset class for investing. Lenders of all types — institutional, private
- [Distressed CRE Reaches Ten-Year High](https://carnm.realtor/distressed-cre-reaches-ten-year-high/) - Distress has been the buzzy question making the rounds of commercial real estate for more than a year now. When will it really start? When will the falling prices finally bring in the large mounds of capital that have been waiting on the sidelines? When will the gift wrapping get shredded? The boxes surrounding presents
- [Profit Margins Increase for Single Family Homes](https://carnm.realtor/profit-margins-increase-for-single-family-homes/) - Profit margins on median-priced single-family home and condo sales in the US increased to 59 percent in the third quarter, according to The ATTOM third-quarter 2023 US Home Sales Report. That’s the second consecutive quarterly increase following several declines. The biggest quarterly increases in typical profit margins came in metro areas many don’t often consider.
- [How sky high mortgage rates rates slow commercial real estate](https://carnm.realtor/how-sky-high-mortgage-rates-rates-slow-commercial-real-estate/) - Welcome to our glorious SoCal fall! As days shorten, leaves crunch underfoot, and temperatures cool – our commercial real estate market faces several headwinds. Hamas’ blatant attack on Israel, the ouster of our House speaker, and the 10-year bond yields at 20-year highs headline the obstacles. The first two – Israel being attacked and a
- [Commercial real estate will see 'a lot of things breaking' and is one of the reasons the Fed will stop raising rates, market veteran say](https://carnm.realtor/commercial-real-estate-will-see-a-lot-of-things-breaking-and-is-one-of-the-reasons-the-fed-will-stop-raising-rates-market-veteran-say/) - The commercial real estate market is wobbling, and market veteran Ed Yardeni thinks it will help get the central bank to stop hiking rates. Bond yields have jumped in recent months, making the cost of borrowing money far more expensive than businesses have been used to. That isn't helping a commercial real estate market already plagued by
- [US industrial market continues to slow as record amount of construction delivers](https://carnm.realtor/us-industrial-market-continues-to-slow-as-record-amount-of-construction-delivers/) - The U.S. industrial market saw an uptick in vacancy in the third quarter, as a record amount of construction delivered and leasing activity waned. Across markets tracked by Cushman & Wakefield plc (NYSE: CWK), the vacancy rate rose to 4.7% in Q3, up from 4% a quarter prior and 3% the same time a year
- [Goodwill Industries of New Mexico to open retail, services center in Carlsbad](https://carnm.realtor/goodwill-industries-of-new-mexico-to-open-retail-services-center-in-carlsbad/) - Goodwill Industries of New Mexico is expanding its footprint to Carlsbad. The new store and services center is located at 1108 West Pierce St. The 23,000-square-foot space will offer career service development, skills training, veteran programming and other resources. Scooter Haynes is the general contractor on the project. Shauna Kastle, president and CEO of Goodwill Industries of New
- [Why some cities are likely to see taller warehouse projects — and the role Amazon is playing](https://carnm.realtor/why-some-cities-are-likely-to-see-taller-warehouse-projects-and-the-role-amazon-is-playing/) - After proliferating largely in other parts of the world, multistory warehouses are beginning to rise in the United States. Nationally, there were 62.8 million square feet of warehouses with three or more stories in the U.S., as of August, with another 11.9 million square feet underway and 23 million in planning stages, according to Colliers
- [Here’s the Most Unexpected Twist of the Apartment Sector in 2023](https://carnm.realtor/heres-the-most-unexpected-twist-of-the-apartment-sector-in-2023/) - For me, this is the biggest surprise of the U.S. apartment market in 2023: The surge in apartment construction is softening the Class B market more than any other asset class. In high-supply submarkets, Class B rents fell more than twice as much as Class A over the past year. Yet in submarkets with no
- [Retail Continues a Long Slide](https://carnm.realtor/retail-continues-a-long-slide/) - MSCI’s series on capital trends in various CRE sectors took retail out for a trial run and brought it back to the store. “Deal volume for the retail sector continued the slide that began in August 2022 with only one month of respite since then,” they wrote. “There was a bit of an improvement from
- [2023 Q3 Saw Problems for Retail, Especially With Low Construction](https://carnm.realtor/2023-q3-saw-problems-for-retail-especially-with-low-construction/) - CoStar Group released its review in retail, multifamily, hospitality and office for the third quarter of 2023. While not all have been bad, it was a tough period for each of these property types. The list doesn’t include all, like industrial, but each company has its own focus and data. The hope is that by
- [After inflation's boom, here's how ABQ ranks for affordability](https://carnm.realtor/after-inflations-boom-heres-how-abq-ranks-for-affordability/) - Inflation has soared over the past two years, yet, the Duke City remains one of the nation's most affordable places to live. The Business Journals analyzed Bureau of Economic Analysis’ Regional Price Parity Index data to determine the rankings. The index is a measure of how much goods, housing and other services across the country
- [September 2023 Commercial Real Estate Market Insights](https://carnm.realtor/september-2023-commercial-real-estate-market-insights/) - While the massive interest rate hikes have hammered the commercial real estate market, the recent Federal Reserve decision to hold rates unchanged will give the market a break. After 11 collective rate hikes in the last 18 months, commercial real estate credit has gotten even tighter as lenders have been more cautious after the recent
- [Commercial Office – What Happens Next?](https://carnm.realtor/commercial-office-what-happens-next/) - Predicting the future of the U.S. commercial property market is never easy. Fortunately, research conducted by industry thought leaders provides key insights that should help lenders better position themselves for the murky future ahead. The last Commercial Buildings Energy Consumption Survey conducted in 2018 by the U.S. Energy Information Administration found that 97 billion square
- [CRE’s outlook remains bleak for the rest of the year](https://carnm.realtor/cres-outlook-remains-bleak-for-the-rest-of-the-year/) - Being on the other side of Labor Day means fall is near, even if the weather doesn’t cooperate fully. The end of the year isn’t here, yet, but it’s taking shape, and not a favorable one for some real estate sectors. The past several months have been difficult for office and multifamily investors, who, for the
- [Emptying office buildings bring back memories of mall failures](https://carnm.realtor/emptying-office-buildings-bring-back-memories-of-mall-failures/) - Windsor Park Mall in the San Antonio suburb of Windcrest, Texas, is a classic example of the upheaval, disruption and innovation retail real estate has experienced in the past 20 years. Windsor Park opened in the 1970s as a typical American suburban mall. Although successful during the ‘80s and ‘90s, a string of exits by
- [Challenges with managing CRE debt in North America](https://carnm.realtor/challenges-with-managing-cre-debt-in-north-america/) - How high CRE debt costs became the norm Commercial real estate participants that have enjoyed a long run of abundant low-cost capital are now facing a new reality. Owners, investment managers and developers across North America are reeling from a shifting landscape where debt financing is more expensive and more difficult to source. Central banks
- [Kroger and Albertsons Intend to Sell 400 Stores for $2B](https://carnm.realtor/kroger-and-albertsons-intend-to-sell-400-stores-for-2b/) - In a move that one analyst said is “part of the natural flow of retail’s never-ending evolutionary process,” Kroger and Albertsons are nearing a deal they hope will secure US regulatory clearance for their proposed $24.5 billion merger by selling more than 400 grocery stores to C&S Wholesale Grocers. The price tag is nearly $2
- [Expert Says Strong Industrial Wave Nowhere Near Over](https://carnm.realtor/expert-says-strong-industrial-wave-nowhere-near-over/) - Industrial investors are wondering how long this asset class can sustain its top ranking. Al Pontius, National Director, Office & Industrial Division, Marcus & Millichap, said during a company news video that interest rates have clearly caused some pullback in the marketplace. But that may be short-lived. “We’re already seeing the gap in expectation between
- [Multifamily Rents Poised For Robust Increases Further Ahead](https://carnm.realtor/multifamily-rents-poised-for-robust-increases-further-ahead/) - For the past three years the multifamily sector has experienced a construction boom not seen since the 1970s, which has helped lead to the current moderation of rents. However that may be about to change. According to a new report by Greg Willett of Institutional Property Advisors, rents could resume an upward path by spring
- [Office Skyscraper Vacancy Rates on the Rise While Smaller Buildings See a Decline](https://carnm.realtor/office-skyscraper-vacancy-rates-on-the-rise-while-smaller-buildings-see-a-decline/) - The general view of the office market is that it faces trouble. And that is true from an average view of vacancies, rent growth, falling valuations, and loan performance. WeWork’s intention to renegotiate most of its leases with property owners shows the types of pressure that are bearing down. However, average performance is deceptive as it doesn’t show
- [August 2023 Commercial Real Estate Market Insights](https://carnm.realtor/august-2023-commercial-real-estate-market-insights/) - While recent economic and market indicators remain mixed, commercial real estate continued to slow down in July. Interest rates have risen at the fastest pace in decades, although inflation dropped to 3.2%. In the meantime, the banks have already reported tighter standards and weaker demand for all commercial real estate loan categories, according to the
- [Children's media company the first to occupy space at Titan's Westpointe40 Business Park](https://carnm.realtor/childrens-media-company-the-first-to-occupy-space-at-titans-westpointe40-business-park/) - Albuquerque-based Titan Development has found its first tenant for Building 1 at Westpointe40. Scholastic Corporation, a children's publishing, education and media company, will utilize a third of the 150,000-square-foot industrial warehouse. The company is the first to occupy space in the business park near Interstate 40 and 98th Street, according to Titan Development Partner Brian Patterson. Titan is currently searching
- [Summer Is Prime Time for Experiential Retail](https://carnm.realtor/summer-is-prime-time-for-experiential-retail/) - The long summer months when it’s too hot to do much outside and your children are not in camp have been a boon for retailers that offer “experiences” to keep their customers occupied. “Entertainment and experiences are becoming increasingly important parts of the retail landscape,” according to data analytics firm Placer.ai. The company studied consumer
- [Global CRE Sales Drop 52% in H1](https://carnm.realtor/global-cre-sales-drop-52-in-h1/) - Global uncertainty about the state of the world economy precipitated a 52% plunge in cross-regional CRE capital flows in H1 2023 compared to the prior year. The total — $30.5 billion – marked the second consecutive half-year period where the world experienced an approximately 50% slump in investment levels. This is the key finding of
- [Here’s Why Deals Will Increase in Q4](https://carnm.realtor/heres-why-deals-will-increase-in-q4/) - There is less buyer/seller disconnect in the marketplace as the frequency of interest rate hikes and the size of those hikes have decreased, according to Marcus & Millichap. Buyers and sellers are beginning to better understand the value of the real estate, John Sebree, Senior Vice President, Multifamily Housing Division, Marcus & Millichap, said in
- [Legal Tenant Leasing in H1 is Strongest on Record](https://carnm.realtor/legal-tenant-leasing-in-h1-is-strongest-on-record/) - The second quarter of this year brought good news for property managers who lease to legal tenants. In an analysis of law firm transactions of more than 20,000 square feet across the country, leasing activity for the first half of this year represented the strongest on record since the start of the pandemic, according to
- [It’s Fall. Time to Sprinkle Pumpkin Pie Spice on Your Retail Property](https://carnm.realtor/its-fall-time-to-sprinkle-pumpkin-pie-spice-on-your-retail-property/) - The meanings of autumn: leaves turning beautiful colors, temperatures cooling, and … pumpkin spice lattes at Starbucks (and almost everywhere else in the coffee universe). Yes, PSL, the official nickname, is coming back this week. But devotee or not, people in CRE might ask if they should pay some attention to it. Anything that brings
- [If Retail is Flourishing, Why are There No Large Deals?](https://carnm.realtor/if-retail-is-flourishing-why-are-there-no-large-deals/) - Retailers are performing very well — maybe as good as they’ve performed in the last 10, 15, 20 years – pretty much across the entire retail perspective, according to a news video released this week by Marcus & Millichap. Daniel Taub, Senior Vice President/National Director – Retail and Net Lease Divisions, said it doesn’t mean
- [Are CRE Prices Too High? It Depends on Your Mindset](https://carnm.realtor/are-cre-prices-too-high-it-depends-on-your-mindset/) - There continues to be a disconnect between CRE buyers and sellers as both sort out the current economic climate, existing loans, interest rates, and the relative value of maintaining long-term perspective. John Chang, Marcus & Millichap, said in a recent news video that prospective buyers keep telling him that commercial real estate prices are too
- [The Hard Reality of Converting an Office Into a Residence](https://carnm.realtor/the-hard-reality-of-converting-an-office-into-a-residence/) - Companies are trying their best to get their office workers to return to the office, at least a few days a week, with only middling success. Landlords are starting to face what many say is the inevitable: some buildings will simply stay empty. As they come to this reckoning, they turn to the oft-repeated mantra
- [More Markets Are Favoring Renters](https://carnm.realtor/more-markets-are-favoring-renters/) - As rent growth slows nationwide, some markets are now more favorable for renters based on long-term pricing trends, according to researchers at Florida Atlantic University and two other schools. In such places, rents are trading at a slight discount, relative to their historical trend, according to the Waller, Weeks and Johnson Rental Index, a subsection
- [CRE Sales Volumes Show Signs of Life in Q2](https://carnm.realtor/cre-sales-volumes-show-signs-of-life-in-q2/) - Signs are emerging that the market is bottoming, and sales volumes will increase moving forward. There is a lag between offerings and closed transactions, so this recovery is likely another quarter away, according to a market update report from Colliers. Multifamily volume increased slightly quarter-over-quarter, suggesting it has bounced from its low point, Colliers said, while
- [Commercial lending fell 52% in second quarter](https://carnm.realtor/commercial-lending-fell-52-in-second-quarter/) - As a wave of distress rolls towards commercial real estate, lenders are pulling back accordingly. Debt origination volumes in the sector fell 52 percent year-over-year in the second quarter, according a capital markets report from Newmark reported by the Commercial Observer. The advisory firm also found there are 32 percent fewer lenders than a year ago.
- [Office Tenants Are Renewing Leases—but for Far Less Space](https://carnm.realtor/office-tenants-are-renewing-leases-but-for-far-less-space/) - The good news for office landlords is that lease signings have been increasing this year. The bad news is that the average new lease is considerably smaller than before. That means companies are committing to spend less on office space for years to come. The need for less workplace space reflects how employers across the U.S. have embraced—or at
- [Retail defies commercial real estate’s troubles](https://carnm.realtor/retail-defies-commercial-real-estates-troubles/) - Offices are struggling. Multifamily distress is popping up. But the retail market, long predicted to be doomed by the pandemic and e-commerce, keeps chugging along above the fray. Retailers are enjoying healthy activity, demand and other key metrics in a turn from the struggles seen in the rest of commercial real estate, the Wall Street
- [The Future Of Commercial Real Estate And Big City Budgets](https://carnm.realtor/the-future-of-commercial-real-estate-and-big-city-budgets/) - More than three years after the beginning of the COVID-19 pandemic, the shift to remote work for many office workers has put the future of commercial real estate, and potentially city government budgets, on shaky ground. One data and analytics group estimated that commercial property values are down 12 percent over the past 12 months, putting today’s
- [A Bright Spot in Commercial Real Estate: Retail Shops](https://carnm.realtor/a-bright-spot-in-commercial-real-estate-retail-shops/) - Retailers are on track to open 1,000 net new stores in the U.S. this year as retail availability hits record lows, in fresh signs of the sector’s resilience despite turmoil in commercial real estate. Landlords say demand for retail space has remained robust this year, defying inflation pressures, high interest rates and liquidations including Bed Bath
- [Commercial real estate sales volume for first half of 2023 drops below same-period sum in 2020](https://carnm.realtor/commercial-real-estate-sales-volume-for-first-half-of-2023-drops-below-same-period-sum-in-2020/) - Commercial real estate deal activity slowed considerably across the industry's sectors in the first half of 2023, sliding to a dollar volume even lower than what was posted at the onset of the Covid-19 pandemic. For the first six months of this year, $181.77 billion of commercial real estate sales occurred, a sharp drop from
- [Total CRE Loans From Banks Hit $3T Even as Originations Cool](https://carnm.realtor/total-cre-loans-from-banks-hit-3t-even-as-originations-cool/) - New reports from the Federal Deposit Insurance Corporation and Mortgage Bankers Association show a somewhat puzzling state of commercial real estate: more than $3 trillion in outstanding loans but commercial and multifamily loan originations down 53% year-over-year in Q2, although up 23% from Q1. First, the FDIC’s 2023 Risk Review. At the end of 2023
- [Improving Indicators Bode Well For CRE Later This Year](https://carnm.realtor/improving-indicators-bode-well-for-cre-later-this-year/) - Virtually every confidence indicator is on the rise and the threat of an imminent recession is falling while recent data show that inflation is nearing the Federal Reserve’s goals set more than a year ago. The overall inflation number reported last week was not what many wanted, as gasoline and food prices led it upward
- [AI Investment Is Giving Tech Office Markets A Boost](https://carnm.realtor/ai-investment-is-giving-tech-office-markets-a-boost/) - Replace people with machines? The growing fear in the current wave of generative AI has had an ironic improvement on hiring certain types of workers — and the need for office space in high tech — according to Moody’s Analytics. “The national office market has been on rocky footing for a few years now, but
- [WeWork is warning of potential bankruptcy. Here's what it could mean for the office market.](https://carnm.realtor/wework-is-warning-of-potential-bankruptcy-heres-what-it-could-mean-for-the-office-market/) - WeWork Inc. (NYSE: WE) leadership disclosed "substantial doubt" about the coworking company's ability to continue to operate last week and warned of potential bankruptcy risk — but the news isn't a surprise for those closely tracking the national commercial real estate market. Still, if WeWork should file for bankruptcy in the near future, it would
- [Commercial Real Estate Prices Expected to Stabilize in H2 2023, CBRE Survey Finds](https://carnm.realtor/commercial-real-estate-prices-expected-to-stabilize-in-h2-2023-cbre-survey-finds/) - Commercial real estate prices are showing signs of stabilizing as inflation moderates and the Federal Reserve nears the end of its interest rate hiking cycle, according to a new CBRE survey. The CBRE survey, which tracks pricing trends for major property types in the U.S., found that capitalization rates have begun to level off after
- [Commercial Real Estate Has An Emissions Problem](https://carnm.realtor/commercial-real-estate-has-an-emissions-problem/) - It’s been eight years since world leaders came together in Paris and pledged to reduce emissions to net zero by 2050. Eight years of being told to ditch plastic, ditch meat, and ditch cars. Eight years of billion-dollar investments into measures that are at best distractions, at worst self-sabotage. I’m talking about the capital flowing
- [A Look at the Size of the Global Commercial Real Estate Market](https://carnm.realtor/a-look-at-the-size-of-the-global-commercial-real-estate-market/) - A new report from real estate data firm MSCI Real Assets, “How Big Is the Global Real Estate Market?” looks at how the global professionally-managed real estate market changed over the course of 2022. As could be expected, rising interest rates, a strengthening U.S. dollar and a more uncertain economic environment combined to present some new challenges for
- [Industrial Market May Be Flooded with Yellow-Owned Properties](https://carnm.realtor/industrial-market-may-be-flooded-with-yellow-owned-properties/) - Looking for an industrial site with lots of truck parking? You could be in luck if real estate assets owned by the trucking company Yellow come on the market. The company filed for Chapter 11 bankruptcy on Aug. 6, and the shutdown is expected to put hundreds of industrial properties up for sale or lease,
- [Experts Forecast Where Apartment Rents are Headed](https://carnm.realtor/experts-forecast-where-apartment-rents-are-headed/) - The median U.S. asking rent in July is only $16 below the record high set in August 2022, according to Redfin, with the average rent being $2,038. It noted that while rent gains cooled over the past year “big bargains are still often hard to come by given rents are near record highs.” It is yet
- [Big US banks are reportedly trying to dump commercial real estate loans - but buyers are scarce as pressures mount for property markets](https://carnm.realtor/big-us-banks-are-reportedly-trying-to-dump-commercial-real-estate-loans-but-buyers-are-scarce-as-pressures-mount-for-property-markets/) - Big banks want to some of their commercial real estate loans, but buyers are proving scarce as troubles pile up in the sector, according to report out from Bloomberg this week. JPMorgan, Goldman Sachs, Capital One, and M&T Bank are among firms trying to whittle down their commercial real debt holdings, sources familiar told Bloomberg this week,
- [How This Expert Is Viewing the Big Drop in CRE Sales](https://carnm.realtor/how-this-expert-is-viewing-the-big-drop-in-cre-sales/) - As startling as the year-over-year drop in commercial real estate deal volume in the first half of the year has been, Marcus & Millichap points out that the declines are not far off from long-term averages. This data also shows that it’s mostly affected properties worth $20 million or more, according to John Chang, Senior
- [Multifamily Conditions Start to Weaken in Freddie Mac’s Portfolio](https://carnm.realtor/multifamily-conditions-start-to-weaken-in-freddie-macs-portfolio/) - Freddie Mac CEO Michael DeVito acknowledged the difficulties apartment owners are having during the GSE’s second quarter earnings call. Rising mortgage rates are contributing to downward pressure on apartment values nationwide, forcing up the cost of financing properties, and slowing the volume of multifamily originations, he said. Some of these dynamics appear to have seeped
- [11% of Office Buildings Could Realistically Be Converted to Green Multifamily](https://carnm.realtor/11-of-office-buildings-could-realistically-be-converted-to-green-multifamily/) - With rapidly falling office property valuations that, according to one study, could lead to $800 billion in lost value by 2030, concern about what to do in the sector is understandable. One of the potential strategies is to convert office buildings to housing. There have been questions about how effective this could be, given issues of building layout and
- [Commercial Real Estate Investors With Cash Continue To Bet On Interest Rates Coming Down](https://carnm.realtor/commercial-real-estate-investors-with-cash-continue-to-bet-on-interest-rates-coming-down/) - Challenged by rising interest rates, a sometimes staggered economy and empty office space buildings, commercial real estate (CRE) investment has become a game for the haves and the have-nots. If you have cash, there are opportunities across the country, and if you're looking for funding, there are still some deals out there if you're counting
- [City of Albuquerque partners with national software provider to improve permitting system](https://carnm.realtor/city-of-albuquerque-partners-with-national-software-provider-to-improve-permitting-system/) - The City of Albuquerque has teamed up with Tyler Technologies Inc. (NYSE: TYL) to improve the city’s permitting process. The City’s planning department hopes to accelerate Albuquerque’s growth with an online system where developers and citizens can apply for development approvals, building permits, access electronic plan reviews and receive digitally issued permits, according to City of Albuquerque
- [Most pre-pandemic office leases haven't rolled over, threatening to prolong pain in CRE](https://carnm.realtor/most-pre-pandemic-office-leases-havent-rolled-over-threatening-to-prolong-pain-in-cre/) - The national office market has been on a bumpy ride since the Covid-19 pandemic, and additional challenges are lurking on the horizon. A recent analysis by CoStar Group Inc. (Nasdaq: CSGP) found 55% of office leases signed before the pandemic that were active in January 2020 have yet to expire, meaning there's still a lot
- [13 Must Reads for Real Estate Investors (Aug. 7, 2023)](https://carnm.realtor/13-must-reads-for-real-estate-investors-aug-7-2023/) - Private credit funds find opportunity in real estate “In one telling example, construction company Orion Group Holdings refinanced a $42.5 million revolving loan led by Regions Bank with a $103 million deal from a private credit company, White Oak Global Advisors.” (The Real Deal) Simon Property Considers Stepping Up Sales and Acquisitions “Simon Property Group, the nation's
- [Three Trends That Are Emerging In Retail](https://carnm.realtor/three-trends-that-are-emerging-in-retail/) - Remember all the empty freestanding storefronts and shops in malls and strip centers? Some are still vacant, but retail is adjusting to the post-pandemic and e-commerce waves, as well as to inflation, migration and remote work. To tweak the famous quote of writer Mark Twain, the report of its death is an exaggeration. But it’s
- [Banks Expect to Tighten Standards for CRE Loans Even More](https://carnm.realtor/banks-expect-to-tighten-standards-for-cre-loans-even-more/) - A new Federal Reserve report noted that banks continue to get nervous overall and in particular about commercial real estate. “Regarding loans to businesses, survey respondents reported, on balance, tighter standards and weaker demand for commercial and industrial (C&I) loans to firms of all sizes over the second quarter,” the report said. “Meanwhile, banks reported
- [How to Optimize Warehouse Space Without Increasing Facility Size](https://carnm.realtor/how-to-optimize-warehouse-space-without-increasing-facility-size/) - There’s plenty of potential for companies that choose to perform a comprehensive facility redesign and process improvement analysis, according to Colliers. The firm said it can yield a 5% to 15% increase in storage capacity, a 3% to 15% productivity lift, and a 5% to 12% reduction in operating cost, and Colliers has identified several
- [Single-Family Rental Rates Have 'Seemingly' Peaked](https://carnm.realtor/single-family-rental-rates-have-seemingly-peaked/) - Rent for single-family homes, nationally, remains historically high despite a slight increase in year-over-year price growth of 0.2%, according to the Q2 National Rental Report from HouseCanary. That’s good enough, however for the data firm to suggest rents have peaked, though are expected to remain high as potential home buyers continue to hold off entering
- [Multifamily’s Rent Growth Slowdown Shows Signs of Leveling Off](https://carnm.realtor/multifamilys-rent-growth-slowdown-shows-signs-of-leveling-off/) - Rent growth declined to below 1% last month, only the second time since the 2010 Great Recession. And it could head down further in the next few months, according to a post by RealPage Chief Economist Jay Parsons. But he expects the rent growth slowdown to level off relatively soon. He explains: On a month-over-month basis, asking
- [This is How Bad Retail and Office Valuation Drops Have Gotten](https://carnm.realtor/this-is-how-bad-retail-and-office-valuation-drops-have-gotten/) - Office and retail valuation drops are becoming like accident scenes, where so many watch and find it hard to turn away. Trepp recently reported that January valuations for CMBS-office backed loans were 52% to 60%. CRED iQ reviewed 190 appraisals of major properties across all assets classes to determine the impact of current market conditions on asset
- [White House Tells Federal Agencies to 'Aggressively' Get Workers Back to the Office](https://carnm.realtor/white-house-tells-federal-agencies-to-aggressively-get-workers-back-to-the-office/) - The Biden administration wants to “aggressively” get federal workers back in the office by September or October, according to an email to the Cabinet on Friday, as Axios initially reported. White House Chief of Staff Jeff Zients wrote: “We are returning to in-person work because it is critical to the well-being of our teams and will enable
- [Out of the Office: Second Quarter 2023 Multifamily and Commercial Real Estate Investment Update](https://carnm.realtor/out-of-the-office-second-quarter-2023-multifamily-and-commercial-real-estate-investment-update/) - In our real estate outlook for 2023 we tweaked the third component of the tried-and-true guidance to property investors, suggesting instead “Location, Location, the Fed.” Indeed, considering the actions, and potential actions, of the Federal Reserve have become integral to any investment strategy. After all, it was the rapid increase in the Federal Funds rate by 5%
- [Report: U.S. Commercial Real Estate Faces Mounting Stress as Delinquency Rates Surge](https://carnm.realtor/report-u-s-commercial-real-estate-faces-mounting-stress-as-delinquency-rates-surge/) - The U.S. commercial real estate sector is grappling with ongoing challenges as the post-pandemic environment reshapes traditional business models. According to a recent report by credit rating agency KBRA and Reuters, the delinquency rate for commercial mortgage-backed securities (CMBS) has surged, with nearly $12 billion in loans becoming newly delinquent. This rise in delinquency, fueled
- [Commercial real estate hit hard by Fed's rate hike campaign](https://carnm.realtor/commercial-real-estate-hit-hard-by-feds-rate-hike-campaign/) - The Fed’s rate hike campaign – including its latest increase of 25 basis points on Wednesday as it fights inflation – has led to a rising number of defaults in multifamily loans and endangers the office and retail sectors as well, a pair of legal experts said. The latest rate hike represents the 11th increase
- [Look To Hospitality For The Future Of Commercial Real Estate And In-Office Work](https://carnm.realtor/look-to-hospitality-for-the-future-of-commercial-real-estate-and-in-office-work/) - When you walk into the 30,000-square-foot space that constitutes Rockbridge’s new headquarters in Columbus, Ohio, there’s a good chance you won’t realize you’re in a private hospitality investment firm. The entrance resembles a high-end restaurant or hotel, designed to be a beacon of the company’s culture. High ceilings, dim lighting, potted botanicals lining the entrance
- [Fewer mega deals in national industrial sector as market returns to pre-pandemic activity](https://carnm.realtor/fewer-mega-deals-in-national-industrial-sector-as-market-returns-to-pre-pandemic-activity/) - The Covid-19 pandemic saw more companies, especially in third-party logistics and e-commerce, clamor for mega warehouses measuring 1 million square feet or larger. That trend appears to be waning, as companies reassess their space needs in the aftermath of the pandemic and tighten their belts as recession fears continue to permeate. A recent analysis by
- [Meet the Commercial Association of Realtors New Mexico's new executive director](https://carnm.realtor/meet-the-commercial-association-of-realtors-new-mexicos-new-executive-director/) - The Commercial Association of Realtors New Mexico hired Nathan Brooks, a former firefighter and real estate veteran, as its new executive director. After graduating high school in New Hampshire in 1995, Brooks joined the U.S. Air Force. He was stationed at Kirtland Air Force Base in New Mexico, where he served as a firefighter for three years until
- [Apartment Developers Turn to Non-Bank Lenders for Construction Loans](https://carnm.realtor/apartment-developers-turn-to-non-bank-lenders-for-construction-loans/) - Apartment developers are finding ways to pay for new construction projects–without using loans from traditional banks. For years, multifamily developers have relied on large, short-term loans from banks to finance the construction of new apartment buildings. But rising interest rates and a string of banks failures—most prominently Silicon Valley Bank, Signature Bank and First Republic
- [Retail Space Demand Drops As Consumers Burn Off Savings](https://carnm.realtor/retail-space-demand-drops-as-consumers-burn-off-savings/) - Rising household savings accrued during the pandemic gave the consumer ample amounts of money to spend, bolstering consumption until recently and pushing up inflation. But today’s higher interest rates are starting to bite into spending more now that the excess savings are nearly burned off. Those dwindling savings and the slackening pace of retail sales
- [CRE Carrying Costs Are Nearly as Burdensome as Interest Rates](https://carnm.realtor/cre-carrying-costs-are-nearly-as-burdensome-as-interest-rates/) - Little things can add up. For CRE, that is a range of costs including insurance, utilities, taxes, and other operating expenses. That can burden a property just as easily as higher interest rates. According to a Moody’s Investor Service report cited by Barron’s, overall expenses for CRE properties are up by more than a third between 2017 and
- [Multifamily Syndicators Face CRE Debt Exposure](https://carnm.realtor/multifamily-syndicators-face-cre-debt-exposure/) - When fighting the potential economic collapse of the pandemic turned into a zero interest rate policy, the result fanned commercial real estate development in all ways, shapes, and forms. One of them was multifamily syndicators, according to Trepp. “[M]ultifamily syndicators increased their rate of acquisitions considerably, often with a value-add strategy,” wrote author Emily Yue.
- [Smaller Apartment Markets Become a Great Investment Opportunity](https://carnm.realtor/smaller-apartment-markets-become-a-great-investment-opportunity/) - Due to work-from-home and hybrid work options and the appeal of more affordable lifestyles, many people have left big cities behind and are calling less costly, less congested smaller markets home. In such places, the desire for a work-play balance becomes more of a reality than just part of a wish list. And where are
- [Office Sales Continue Their Slide](https://carnm.realtor/office-sales-continue-their-slide/) - To no one’s surprise office investment sales continue to plummet, reaching $14.8 billion in the first half of 2023 compared to $43.7 billion in the same period last year, according to Commercial Edge. The national vacancy rate reached 17.1% in July, rising 180 basis points over figures from a year ago. Listing rates fell in
- [A New Way of Looking at Industrial Markets' Volatility and Risks](https://carnm.realtor/a-new-way-of-looking-at-industrial-markets-volatility-and-risks/) - A new method of ranking industrial markets using a two-dimensional grid reveals changes over time in both sales volume and volatility and claims to offer new insight into risks that may not be apparent in traditional one-dimensional models. The grid was developed by NAIOP. “This may help investors and developers create better strategies around market
- [Biden Administration Announces Actions on Rental 'Junk Fees'](https://carnm.realtor/biden-administration-announces-actions-on-rental-junk-fees/) - The Biden administration announced an additional front — rental housing — for its standing opposition to so-called junk fees for consumers. “From repeated rental application fees to surprise ‘convenience fees,’ millions of families incur burdensome costs in the rental application process and throughout the duration of their lease,” the White House posted. “These fees are often more
- [NAR Commercial Real Estate Metro Market Report | 2023.Q1 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2023-q1-albuquerque-nm/) - The Albuquerque, NM commercial real estate market is stronger compared to the overall U.S. market. NAR Commercial Real Estate Market Conditions Index* 52.0 Overall economic conditions are stronger than nationally. The apartment property market is not as strong than nationally. The office property market is stronger than nationally. The industrial property market is not as
- [More Office Delinquencies On the Way, Says Moody’s Analytics](https://carnm.realtor/more-office-delinquencies-on-the-way-says-moodys-analytics/) - Many economists have started to ask whether a soft landing — an ultimate reduction of inflation without the appearance of significantly higher unemployment or a recession — might now be possible. Some indicators are looking positive, and yet there are complications in the details that urge some caution, such as June’s improvements being mostly due to some
- [Builder Confidence Rises Despite Rising Rates, Material Costs, Labor and Lot Inventory](https://carnm.realtor/builder-confidence-rises-despite-rising-rates-material-costs-labor-and-lot-inventory/) - Low inventory may not be good for potential homeowners shopping for a home but it’s keeping builders feeling a bit more confident that there are buyers eager for new single-family homes. This was the conclusion from the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) just released this month. This cautious optimism
- [Fewer CRE loans being refinanced, but lenders find other ways to work with borrowers](https://carnm.realtor/fewer-cre-loans-being-refinanced-but-lenders-find-other-ways-to-work-with-borrowers/) - Lenders and special servicers are looking beyond refinancing options when it comes to working with borrowers on commercial real estate loans that are set to mature in the coming months and years, even as those loans increasingly are backing properties facing distress. According to an analysis by Moody's Investors Service, the percentage of real estate
- [Crash? What Crash? Why Commercial Real Estate Hasn’t Gone Bust…Yet](https://carnm.realtor/crash-what-crash-why-commercial-real-estate-hasnt-gone-bustyet/) - The commercial real estate market was headed for a nosedive. It seemed so obvious. Landlords had been struggling to fill buildings left vacant after Covid-19 forced remote work. Some commercial builders who had taken out loans to finance projects “were just walking away, giving it back to the lender,” recalls Quincy Krosby, chief global strategist for
- [July 2023 Commercial Real Estate Market Insights](https://carnm.realtor/july-2023-commercial-real-estate-market-insights/) - Leasing velocity slowed down in commercial real estate during the year's second quarter. While there is still much uncertainty about the total impact of the bank failures earlier in the year, there are rising concerns and speculation about where commercial real estate is headed. Since commercial real estate relies heavily on small banks for capital,
- [Commercial real estate lending fell for the first time in 2 years last month as credit conditions tighten](https://carnm.realtor/commercial-real-estate-lending-fell-for-the-first-time-in-2-years-last-month-as-credit-conditions-tighten/) - Lending in the commercial real estate shrank for the first time since 2021, a sign that higher mortgage rates and tighter credit conditions are weighing on the sector. Outstanding commercial real estate debt dropped to $5.44 trillion in June, marking the first drop in commercial real estate lending recorded in two years, according to Refinitiv
- [Commercial real estate prices are still expected to crater, Morgan Stanley warns](https://carnm.realtor/commercial-real-estate-prices-are-still-expected-to-crater-morgan-stanley-warns/) - The U.S. economy isn’t the only thing unwilling to capitulate despite sharply higher interest rates. Commercial real-estate prices have been heading lower in the wake of the pandemic and the Federal Reserve’s inflation fight, but the bulk of the pain still looks poised to come, according to Morgan Stanley analysts. Prices for apartment buildings, offices
- [Despite National Slowdown, This Industrial Market Surges Forward](https://carnm.realtor/despite-national-slowdown-this-industrial-market-surges-forward/) - Between slowing consumer spending and declining tenant demand, the industrial market across the United States is off from last year’s peak. However, one market still stands out as a growth driver. Savannah, Georgia, is now the fourth-biggest port by cargo volume in the country, and despite facing challenges like other industrial markets, Savannah benefits from
- [Urban Retail Availability Increases as Suburbs Flourish](https://carnm.realtor/urban-retail-availability-increases-as-suburbs-flourish/) - ith workers only venturing into the office a few days a week, it’s no surprise that spending is being re-directed to retail districts closer to where people live, according to a new report from CBRE. This has resulted in an uptick in CBD retail availability in US central business districts, which now exceeds that of
- [Office Leasing Posts Fastest Growth Rate Since 2021](https://carnm.realtor/office-leasing-posts-fastest-growth-rate-since-2021/) - JLL’s recent chart of the week, showing gross office leasing activity, presented what might be a surprise given the doom and gloom the sector faces. Leasing activity improved in the second quarter with the fastest growth rate since 2021 Q2. However, tempering the good news somewhat is context. The 41.9 million square feet of leasing,
- [Office leasing shifts back toward major cities in financial services, but it's not all good news for those gateway markets](https://carnm.realtor/office-leasing-shifts-back-toward-major-cities-in-financial-services-but-its-not-all-good-news-for-those-gateway-markets/) - Leasing within the financial-services sector is shifting back toward major cities, although not at the same rate as pre-pandemic days. A recent analysis by Jones Lang Lasalle Inc. (NYSE: JLL) found gateway markets — Boston, Chicago, Los Angeles, New York, San Francisco, Seattle and Washington, D.C — accounted for 43.6% of all financial-services office leasing
- [How Retail Healthcare Is Creating New Real Estate Opportunities](https://carnm.realtor/how-retail-healthcare-is-creating-new-real-estate-opportunities/) - You’ve probably noticed a shift happening around you. Retail spaces and healthcare services are becoming increasingly entwined, resulting in a new era of commercial real estate. This isn’t just a random occurrence—it’s a strategic move driven by the evolving needs of consumers. As our expectations evolve, so does the way we access healthcare, and this is
- [Inside Industrial’s Rising Vacancy Rate](https://carnm.realtor/inside-industrials-rising-vacancy-rate/) - A 4.1% increase in the nation’s overall industrial vacancy rate in Q2 2023 is partly due to the number of speculative new industrial space developments now coming to market, according to an analysis by Cushman & Wakefield. A return to normal in companies’ space requirements after historically high demand in recent years also contributed to
- [Multifamily Distress Is Starting, Depending on Where You Look](https://carnm.realtor/multifamily-distress-is-starting-depending-on-where-you-look/) - There’s been a question of whether multifamily would see some significant distress. A couple of years ago, Blackrock thought it would be a long way off. By early in 2023, Yardi thought multifamily distress was going to increase as buyers and sellers waited for the other to blink over prices. But even then, others thought there would be little
- [What Is Really Driving Office Tenants Wait-and-See Attitude?](https://carnm.realtor/what-is-really-driving-office-tenants-wait-and-see-attitude/) - It has been amply clear that both an uncertain economy and the remote work trend have taken a toll on the sentiment of tenants in the market, many of which have been deferring lease decisions to see how these trends will shake out. But which trend is the driving factor behind this reluctance? The answer
- [How Are Those Return to Office Mandates Working Out?](https://carnm.realtor/how-are-those-return-to-office-mandates-working-out/) - Back to the office has become a growing chorus from employers in different industries for a host of reasons: Higher productivity, greater innovative thinking—two heads—or 50—are better than one—and even an enhanced healthfulness, according to some. But how well is this new trend working? Placer.ai’s Nationwide Office Building Index recently looked at 800 office buildings.
- [Allen Sigmon Realty Group enters 'strategic relationship' with NAI SunVista](https://carnm.realtor/allen-sigmon-realty-group-enters-strategic-relationship-with-nai-sunvista/) - Allen Sigmon Realty Group is teaming up with NAI SunVista, a full-service commercial real estate company, to handle its property management portfolio. This new strategic relationship went into effect July 1. NAI SunVista will be responsible for managing the day-to-day property management for Allen Sigmon's properties across New Mexico, which will include rent collection, maintenance of properties and the
- [Industrial Investors Show More Caution on New Deals](https://carnm.realtor/industrial-investors-show-more-caution-on-new-deals/) - Industrial real estate—the long-time darling of investors—is beginning to experience cracks in what was previously perceived as a risk-free investment sector. Interest rate hikes, along with economic uncertainty and instability in the banking industry, are affecting commercial real estate state across the board with a tightening of credit. And despite its stellar performance over the past
- [Apartment Rents Decline YoY for First Time](https://carnm.realtor/apartment-rents-decline-yoy-for-first-time/) - May 2023 brought some unpleasant news for landlords and developers. For the first time in Realtor.com’s data history, there was a year-over-year rent decline for 0-2 bedroom-units since numbers started to be tracked three years ago. The two-bedroom properties dropped 0.5% to $1,923, which was $10 lower than a year ago and $47 lower than
- [Office Vacancy Rate Rises 30 Basis Points in One Month](https://carnm.realtor/office-vacancy-rate-rises-30-basis-points-in-one-month/) - Fresh confirmation, if it was needed, that the U.S. office market is in trouble comes from recent data on vacancy compiled by CommercialEdge in a June 2023 report. “The national office vacancy rate in May was 17%, up 30 basis points over the previous month and 160 basis points over the prior year,” the report notes.
- [Central New Mexico Community College to replace Ted Chavez Hall with skilled trades facility](https://carnm.realtor/central-new-mexico-community-college-to-replace-ted-chavez-hall-with-skilled-trades-facility/) - Central New Mexico Community College (CNM) is constructing a new skilled trades facility to help supply the demand for labor in welding; plumbing; heating, ventilation, and air conditioning (HVAC) and mechatronics. The building will replace the 50-year-old Ted Chavez Hall and will be located at 961 Buena Vista Drive SE. Following construction, Ted Chavez East and
- [Titan Development unveils $35M multifamily complex at Journal Center](https://carnm.realtor/titan-development-unveils-35m-multifamily-complex-at-journal-center/) - Titan Development last week unveiled the firm's new, 158-unit multifamily complex at Journal Center, a business park in Northeast Albuquerque. The project, Allaso Journal Center, is part of Titan Development's Allaso series of projects and was constructed by Pavilion Construction and ORB Architect. Located at 7800 Headline Blvd. NE, the development, which cost $35 million, stands four stories and is
- [Rescue Capital Lines Up for Opportunities on Multifamily Properties](https://carnm.realtor/rescue-capital-lines-up-for-opportunities-on-multifamily-properties/) - Across the U.S., apartment investors who paying floating-rate construction or bridge loans are now struggling to keep up with interest payments that have often doubled. New permanent financing may help, but permanent lenders rarely offer enough to fully pay off a property’s existing loan. Help may be on the way. Private equity investors are eagerly
- [Industrial to Stay Strong as U.S. Enters Recession This Quarter, Economist Says](https://carnm.realtor/industrial-to-stay-strong-as-u-s-enters-recession-this-quarter-economist-says/) - More than 1,200 leaders from around North America gathered to hear updates and projections for commercial real estate’s hottest sector at NAIOP’s I.CON East industrial real estate conference in Jersey City, N.J. The sessions kicked off with an economic forecast from Dana M. Peterson, chief economist and center leader, economy, strategy & finance, The Conference
- [Expenses Rising Faster Than Revenues for Many Apartment Owners](https://carnm.realtor/expenses-rising-faster-than-revenues-for-many-apartment-owners/) - Expenses are rising faster than revenues for multifamily affordable housing properties, a trend that will likely continue to accelerate, according to a new report from S&P Global Ratings. Property owners saw net income per unit increases, however, as rent growth was as high as 37% from 2020 to 2022. Growth has slowed considerably in 2023,
- [Prices Are Improving in Many Property Types](https://carnm.realtor/prices-are-improving-in-many-property-types/) - A midyear review by a number of Green Street analysts shows improving prices in a majority of property types, as Michael Knott, managing director and head of U.S. REIT research opened with. Yes, office, storage, and life science saw falls compared to March 2023. But prices were up for gaming, ground lease, healthcare, strip center,
- [Why the Fed paused its rate hikes: It’s tired of playing a giant guessing game](https://carnm.realtor/why-the-fed-paused-its-rate-hikes-its-tired-of-playing-a-giant-guessing-game/) - After 10 consecutive interest rate hikes, Federal Reserve officials announced on Wednesday that they would pause their fight against inflation to figure out whether the US economy was fully absorbing all that harsh medicine. Following the policy announcement, Fed Chair Jerome Powell noted that rate hikes typically filter through the economy with “uncertain lags.” In other words,
- [Current Market Presents Opportunity for Strategic Investment in Office Assets](https://carnm.realtor/current-market-presents-opportunity-for-strategic-investment-in-office-assets/) - To say the office sector has recently experienced some challenges may seem like an understatement. Yet while pandemic shutdowns, political unrest, resultant hybrid and remote work policies and current economic uncertainty seem daunting, they are definitely not insurmountable. As one of the largest owners and operators of premier office properties throughout the nation, KBS has experienced the
- [Retail’s Bright Future Lies In Brick And Mortar After All](https://carnm.realtor/retails-bright-future-lies-in-brick-and-mortar-after-all/) - Early in the pandemic, the future seemed clear. People would increasingly buy online because stores were closed and unsafe. Plus, it was oh, so convenient for consumers, and think of the money the retailers would save by centralizing major distribution centers, setting up last-mile warehouses at in-fill urban and exurban locations, and pushing for same-day
- [This is Why Some Communities Are Pushing Back Against Warehouse Development](https://carnm.realtor/this-is-why-some-communities-are-pushing-back-against-warehouse-development/) - Earlier this year a coalition of more than 60 environmental, labor, community and academic groups called for a moratorium of up to two years on new warehouse development in Southern California’s Inland Empire, demanding in an open letter to Gov. Gavin Newsom that the governor declare the market’s one billion square foot warehouse sprawl a
- [Commercial Real Estate Loan Originations Recorded a Big Drop in the First Quarter, Partially Due to Lack of Demand](https://carnm.realtor/commercial-real-estate-loan-originations-recorded-a-big-drop-in-the-first-quarter-partially-due-to-lack-of-demand/) - A new report from the Mortgage Bankers Association (MBA) shows that its Commercial/Multifamily Mortgage Origination Index declined by 56% year-over-year in the first quarter of 2023, and was down 42% quarter-over-quarter. The decline comes after a 54% year-over-year drop in originations recorded by the index in the fourth quarter of 2022. The MBA origination index is benchmarked
- [Farmland Produces A New Crop Of Investment Opportunities](https://carnm.realtor/farmland-produces-a-new-crop-of-investment-opportunities/) - Investors looking for safe havens amid a volatile market are finding a solution in America’s heartland by buying stakes in farms and ranches. Farmland has seen an influx in investor capital in recent years, thanks in part to a growing number of public and private platforms offering a variety of structures. “It’s certainly not a ‘get
- [NAR Chief Economist Offers Commercial Real Estate Market Forecast](https://carnm.realtor/nar-chief-economist-offers-commercial-real-estate-market-forecast-2/) - National Association of Realtors® Chief Economist Lawrence Yun presented an overview of U.S. commercial real estate Tuesday as part of the 2023 REALTORS® Legislative Meetings(link is external). Yun emphasized challenges facing the commercial real estate market brought on by tightening lending policies among many small and regional banks, which have been a key source of commercial
- [Tech Leaders Share Insights at 2023 REALTORS® Legislative Meetings](https://carnm.realtor/tech-leaders-share-insights-at-2023-realtors-legislative-meetings/) - Tech leaders took the stage at the 2023 REALTORS® Legislative Meetings(link is external) to discuss existing innovations and trends to help real estate agents level up their businesses. Several hundred Realtors® attended Tuesday's "Emerging Business Issues and Technology Forum," which provided insight into technologies that help agents maximize their presence on social media, streamline marketing, and attract
- [The Fed Worries About Bank CRE Loans for a Good Reason](https://carnm.realtor/the-fed-worries-about-bank-cre-loans-for-a-good-reason/) - The Federal Reserve and other regulators have been focused of late on bank problems, and well they should. But concern is now spreading to commercial real estate and the possibility that interplays between CRE borrowers and lenders could, under current conditions, create a positive feedback loop that could increasingly hurt both. The signs are in
- [New Reports Show Expectations of Slow Inflation Decline and a Long Slog Ahead](https://carnm.realtor/new-reports-show-expectations-of-slow-inflation-decline-and-a-long-slog-ahead/) - Whether consensus expert forecasts of consumer price index or consumer expectations of inflation this year and for the next few, two new reports say there’s a lot to be concerned about. FactSet’s consensus forecasts for April’s CPI report say that inflation reduction is slowing to a point at which you could walk away, come back weeks later,
- [Bankruptcies and Retailer Expansion Expected to Take Center Stage at ICSC Event](https://carnm.realtor/bankruptcies-and-retailer-expansion-expected-to-take-center-stage-at-icsc-event/) - LAS VEGAS—The impact of bankruptcies is going to be a prominent topic on the show floor at this year’s ICSC Las Vegas event, “partly because it frees up some 1,400 spaces in 2023.” That is according to Jason Baker, principal of Houston-based Baker Katz, who chatted with GlobeSt.com about the upcoming event. “This creates a
- [Key Drivers of Successful Urban Retail Redevelopments](https://carnm.realtor/key-drivers-of-successful-urban-retail-redevelopments/) - In the face of inflation, longer deal times, a possible coming recession, and predictably unpredictable changes in consumer tastes, making retail work in development and redesign is a challenge. That doesn’t make it any less necessary. Adrienne Crawford and Lily H. Heimburger with SRS Real Estate Partners have worked with property owners for more than 20 years on the strategic
- [How Is the Dollar’s Drop in Value Impacting Commercial Real Estate Investment?](https://carnm.realtor/how-is-the-dollars-drop-in-value-impacting-commercial-real-estate-investment/) - On my recent investors call, a question was raised about the downward shift in the demand for the U.S. dollar, especially the petrodollar, and the potential effects on real estate values. While the U.S. currency is the most reliable globally and represents 90% of the world transaction volume, by comparison, the Chinese yuan currency represents nearly
- [Revenue recharge](https://carnm.realtor/revenue-recharge/) - “How can this property have $150,000 in ancillary income if it doesn’t have a rooftop lease or a parking garage?” read an email from a colleague asking me to look at a property he was evaluating years ago for acquisition. Honestly, I wasn’t sure, so I did what every good asset manager would do—I called
- [Capital impact](https://carnm.realtor/capital-impact/) - Real estate managers typically focus on net operating income (NOI) growth as a measure of a property’s economic success. While NOI will remain a key metric, relying solely on a property’s NOI doesn’t consider another critical component of calculating before-tax cash flow—capital expenditures, commonly referred to in our industry as “CapEx.” The definition of CapEx
- [Green impact](https://carnm.realtor/green-impact/) - Sustainability initiatives can come with a bevy of advantages, including positive financial results. Along with reducing electricity, water, and other energy consumption, ESG initiatives and green building certifications can also increase a building’s revenue potential. For example, a 2018 study of IREM’s Income/Expense Analysis® (now Income/Expense IQ) explored data from two large multifamily real estate development
- [Do We Have an Apartment Tenants or Landlord Market Now? Reports Differ](https://carnm.realtor/do-we-have-an-apartment-tenants-or-landlord-market-now-reports-differ/) - Data from two separate reports come to different conclusions about whether the national apartment market has shifted to a tenant one or remains in control of landlords. In one, Redfin points out the rising vacancies landlords are facing as completed residential projects in buildings with five or more units rose 60% year over year on
- [Industrial and Office Both Slow, But for Very Different Reasons](https://carnm.realtor/industrial-and-office-both-slow-but-for-very-different-reasons/) - As the economy shifts and dynamics in business needs alter, so do results for commercial real estate. One recent analysis compared office with industrial as a second added more information on office. Both are softening, but for different reasons, and the prospects for office are worse, as anyone in the industry might guess given the
- [Understanding Where Investors Are By Examining Spreads](https://carnm.realtor/understanding-where-investors-are-by-examining-spreads/) - Understanding pricing of any kind in CRE — properties, building, insurance, financing — has become extremely difficult. Lowered transition volumes and quickly changing economic and financial factors have made the process incredibly difficult. But when it comes to seeing how investors are pricing opportunities, Trepp suggests looking at an investment’s spread-to-Treasury bonds. There is a
- [The Terrible, Horrible, No Good, Very Bad Debt Ceiling Day](https://carnm.realtor/the-terrible-horrible-no-good-very-bad-debt-ceiling-day/) - There is a famous 1972 kid’s book called Alexander and the Terrible, Horrible, No Good, Very Bad Day. The title, at least, seems to have become the playbook for the debt ceiling debacle currently unfolding far too slowly. Examining best guesses on potential outcomes is the closest thing to scenario planning possible. There are two broad
- [ICSC Panelists: In Challenging Times This is How We Communicate With Our Stakeholders](https://carnm.realtor/icsc-panelists-in-challenging-times-this-is-how-we-communicate-with-our-stakeholders/) - LAS VEGAS—ICSC Las Vegas event panels were in full swing yesterday, with industry leaders sharing their experiences and insights on how they had been communicating with stakeholders during the challenging economic times. Moderator Glenn Rufrano, ICSC Chair and former CEO of VEREIT, posed a question to the opening panel, eager to uncover their strategies and
- [CBD Survival Means Getting Retail, Multifamily, and Office to Pull Together](https://carnm.realtor/cbd-survival-means-getting-retail-multifamily-and-office-to-pull-together/) - In a new analysis, Moody’s Analytics made a point about metro downtowns that is generally good advice whenever looking at data. That is, don’t be satisfied with the simple and obvious story until you’ve checked further, because situations are usually more complicated than easy answers. Part of that is understanding that two sets of data
- [Many Family Offices Increasing Allocations to CRE](https://carnm.realtor/many-family-offices-increasing-allocations-to-cre/) - A new report from Goldman Sachs says that the family offices they surveyed were largely maintaining or increasing their exposure to real estate. This is part of a greater pattern of “risk-on” allocation planned increase over the next 12 months. On average, 9% of funds were being put into real estate and infrastructure. The report was
- [NAR Chief Economist Offers Commercial Real Estate Market Forecast](https://carnm.realtor/nar-chief-economist-offers-commercial-real-estate-market-forecast/) - National Association of Realtors® Chief Economist Lawrence Yun presented an overview of U.S. commercial real estate Tuesday as part of the 2023 REALTORS® Legislative Meetings(link is external). Yun emphasized challenges facing the commercial real estate market brought on by tightening lending policies among many small and regional banks, which have been a key source of commercial
- [SBDC expert bringing disaster restoration company to Albuquerque](https://carnm.realtor/sbdc-expert-bringing-disaster-restoration-company-to-albuquerque/) - Vernon Mulanix, a small business development center expert, is expanding Blue Kangaroo Packoutz, a cleaning and restoration services company, to Albuquerque. Blue Kangaroo Packoutz opened its warehouse at 6819 Cochiti Road SE earlier this year. The company restores contents inside homes and businesses following man-made and natural disasters like fire, mold and flooding. The company uses Esporta soft goods cleaning and
- [How tech-centric office markets are faring with reduced demand for space](https://carnm.realtor/how-tech-centric-office-markets-are-faring-with-reduced-demand-for-space/) - Office-leasing volume is down across most industries but weak demand and massive space reductions from the technology sector, in particular, is having an outsized impact in many markets. A recent study by Savills Inc. found tech leasing fell to a new low in the first quarter of 2023, comprising only 7.8% of demand. Tech made
- [US industrial market seeing rise in sublease space](https://carnm.realtor/us-industrial-market-seeing-rise-in-sublease-space/) - Sublease inventory in the national industrial market grew more than 50% in the first quarter of 2023 from Q1 2022. That's according to research by Savills PLC, which also found less than 0.5% of the entire industrial market is up for sublease right now. Still, growth in sublease space tends to be a leading indicator
- [Multifamily Development Faces Disruptions, But Many Projects Push Ahead](https://carnm.realtor/multifamily-development-faces-disruptions-but-many-projects-push-ahead/) - Eager to invest in new apartment developments, wealth managers and high-net worth individuals are still making deals work, despite high financing and construction costs, worries about overbuilding and even more worries about a potential recession. Individuals are investing with active developers and private equity funds to build new apartment properties in a time of uncertainty,
- [To Resurrect Certain Downtowns It May Take More Than Workers Returning to the Office](https://carnm.realtor/to-resurrect-certain-downtowns-it-may-take-more-than-workers-returning-to-the-office/) - A recently updated study out of the University of California, Berkeley’s Institute of Governmental Studies has some bad news for CRE property owners in traditional downtown areas: pandemic recoveries are taking a longer time than those of other areas in cities. And the future without some significant changes isn’t looking favorable. Using mobile phone data
- [Institutional Investors Remain Interested in Data Centers. But They Are Waiting for the Right Moment.](https://carnm.realtor/institutional-investors-remain-interested-in-data-centers-but-they-are-waiting-for-the-right-moment/) - Investment sales of data centers slowed dramatically toward the end of 2022 and through the first quarter of 2023, as rising interest rates and capital constraints impacted acquisition activity. However, the asset class has not fallen out of favor with investors who industry observers say are biding their time before jumping back into the market.
- [The Tax Consequences of Handing the Keys Back to Your Lender](https://carnm.realtor/the-tax-consequences-of-handing-the-keys-back-to-your-lender/) - With remote work models prevailing and many tenants gravitating to Class A buildings with amenities, there are more than a few Class B and Class C property owners with high vacancy rates and significant imminent capital seriously considering giving the keys to their lenders in exchange for relieving the debt obligation. However, even for properties
- [A Breakdown of Lenders That Hold CRE Debt](https://carnm.realtor/a-breakdown-of-lenders-that-hold-cre-debt/) - As Moody’s Analytics said last week, estimates by some sources that 70% to 80% of CRE loans were made by lenders with less than $250 billion in assets were, well, wrong. “However, the 135 US regional banks (generally considered as those with about $10 billion to $160 billion in assets) hold just 13.8% of debt on income-producing properties,”
- [Is Apartment Construction at a 50-Year High or Not?](https://carnm.realtor/is-apartment-construction-at-a-50-year-high-or-not/) - You’ve probably seen the headlines or heard the chatter: Multifamily construction is at the highest levels in 50 years. There are about 1 million multifamily units actively under construction nationally. But to say multifamily construction is at a 50-year high is equally true and terribly misleading. Why? Three reasons. There are roughly 2.5 times more multifamily units
- [One in Three Office Buildings are Ripe for Residential Conversion](https://carnm.realtor/one-in-three-office-buildings-are-ripe-for-residential-conversion/) - Up to one in three office buildings in 14 major North American markets could be a candidate for conversion to residential use, according to a study by Avison Young. The company analyzed 26,000 office buildings, and concluded as many as 8,996 could meet the criteria for conversion in 10 U.S. and four Canadian markets. “We
- [It’s CRE Benchmark Season, Here’s Why You Should Care](https://carnm.realtor/its-cre-benchmark-season-heres-why-you-should-care/) - Benchmark data is an important tool in any industry. You can see how your performance compares to others and identify where changing practices might make you more competitive. The National Apartment Association (NAA), Institute of Real Estate Management (IREM), and Building Owners and Managers Association (BOMA) recently announced that they opened automated benchmark submissions in
- [Institutional Investors Still Like Real Estate, But Are Waiting for Better Prices](https://carnm.realtor/institutional-investors-still-like-real-estate-but-are-waiting-for-better-prices/) - Institutional investors are sitting on the sidelines of the commercial real estate investment market, but they are not backing away from the asset class entirely. Instead, they are waiting for the investment sales climate to become less volatile and for asset prices to fall, creating opportunities for better yields, according to industry observers. Many are
- [Target Shopping Center proposed for 22-acre site on Westside](https://carnm.realtor/target-shopping-center-proposed-for-22-acre-site-on-westside/) - A new Target store could be headed to the Westside, according to documents filed with the City's Environmental Planning Commission. The documents, which include a traffic scoping form, detail plans for a nearly 150,000-square-foot "Target Shopping Center." The applicant on the form was Albuquerque-based civil engineering firm Tierra West LLC and the build-out/implementation year for the
- [Short Commutes Help Reduce Office Vacancy Rates](https://carnm.realtor/short-commutes-help-reduce-office-vacancy-rates/) - Moody’s Analytics has been conducting a series of analyses on commercial real estate and surrounding problems with varying degrees of focus on office. So, for example, moderate changes in cap rates and cash flows could cause big problems for the property class. And then the firm the percentage of buildings in major metros — 31% on average
- [Cannabis Companies Say It’s Better to Lease Than to Buy](https://carnm.realtor/cannabis-companies-say-its-better-to-lease-than-to-buy/) - Cannabis companies are buying commercial real estate for their businesses to a lesser degree and are choosing to lease space to a greater degree, according to a new report from National Association of Realtors. Since 2021, the share of NAR members reporting increased purchasing over leasing by marijuana businesses dropped from 29% to 18%. State
- [Life Insurance Lenders: No Lifeline for Office Owners](https://carnm.realtor/life-insurance-lenders-no-lifeline-for-office-owners/) - As a first-in-line alternative to banks, life insurance companies have for years been a steady source of capital for office building owners—until now. That’s right, insurance companies have joined banks and issuers of commercial mortgage backed securities in slamming the lending window shut on office owners who are facing—take your pick, an avalanche, tsunami, Great
- [Five Developments That Are Changing Cold Storage](https://carnm.realtor/five-developments-that-are-changing-cold-storage/) - What type of cold storage occupiers need today may result in changes for builders of the facilities, the occupiers, corporate bottom lines, and ultimately consumers when they seek the once stored cold/frozen items on their grocery store shelves. Why is this happening now? According to an interview between Colliers Capital Markets and Rick Kingery, senior
- [Experts Say Connecting Bank Collapses to CRE Loans Isn’t So Simple](https://carnm.realtor/experts-say-connecting-bank-collapses-to-cre-loans-isnt-so-simple/) - Getting hit in the head by an acorn and deciding that the sky is falling, as happened in the old folk tale, is objectively silly. And yet, seeing two banks collapse within a short period of each other and then wondering what might happen to CRE lending, especially after the experience of the global financial
- [Let's Talk About Debt: The Good, the Bad and the Ugly](https://carnm.realtor/lets-talk-about-debt-the-good-the-bad-and-the-ugly/) - Now that nobody wants to see our vax cards anymore, maybe it’s time to issue debt cards to everyone in the CRE community. We need to know if your regional bank got its booster shot. During our annual State of the Industry panel discussion at the GlobeSt. Net Lease Spring conference in NYC this week,
- [Multifamily Developers Need to Rethink Their Supply-Side Risk](https://carnm.realtor/multifamily-developers-need-to-rethink-their-supply-side-risk/) - Over the last three years, Covid-19 extended the timeline for residential and commercial real estate projects to be completed–and its aftereffects continue to slow momentum. The multifamily housing category has been no exception. Part of the reason for the slowdown has been a shortage of workers; another, the shortage of materials. And though such pandemic
- [New Fed Forecasts Suggest Central Bank Is Bracing for Recession](https://carnm.realtor/new-fed-forecasts-suggest-central-bank-is-bracing-for-recession/) - Federal Reserve Chair Jerome Powell and his colleagues are expecting a sharp dropoff in economic activity through the rest of 2023 — at least, that’s the implication from new economic projections they published this week. The figures show policymakers now expect the US to eke out a 0.4% expansion this year, down from the 0.5%
- [All-Electric Building Draws Energy From 500 Feet Below the Surface of the Earth](https://carnm.realtor/all-electric-building-draws-energy-from-500-feet-below-the-surface-of-the-earth/) - (Bloomberg)—The key to heating an 834-unit apartment tower under construction on the Brooklyn waterfront will be a hole in the ground. Actually, it will be 322 holes, each about 4 inches (10 centimeters) across and exactly 499 feet (152 meters) deep — any deeper and New York state would consider it a mining project. These
- [What Investors Should Know About Office Buildings with Subleases](https://carnm.realtor/what-investors-should-know-about-office-buildings-with-subleases-2/) - Availability of office space for sublease has climbed markedly in the Tampa Bay area, where we’re based, matching a trend that is prevalent around the country. In fact, a number of large metro areas like Chicago and San Francisco have recently set records for the amount of office sublease space that’s available. The continuing evolution of
- [2023: A Year of Opportunity for U.S. Manufacturing](https://carnm.realtor/2023-a-year-of-opportunity-for-u-s-manufacturing/) - Despite the global economic turmoil of the past two years, we are amidst a once-in-a-generation shift of global manufacturing footprints, and 2023 should continue to be a year of opportunity for manufacturers in the United States. This translates to a lot of sustained site selection activity in the market. Shutdowns and disruptions caused by the
- [Federal Reserve Sees a Colder Economic Wind Coming](https://carnm.realtor/federal-reserve-sees-a-colder-economic-wind-coming/) - The economic projections from the Federal Reserve and the Federal Reserve Bank presidents have taken a turn downward and it’s looking like a tacit admission of recession without using the R-word. In December, the Fed and its bank presidents, “under their individual assumptions of projected appropriate monetary policy,” expected a median 0.5% change in real
- [Real Estate Roundtable Calls for a CRE Troubled Debt Restructuring Program](https://carnm.realtor/real-estate-roundtable-calls-for-a-cre-troubled-debt-restructuring-program/) - The Real Estate Roundtable called on regulators to reinstitute a “troubled debt restructuring (TDR) program for commercial real estate that would give financial institutions increased flexibility to refinance loans with borrowers and lenders.” Worry about liquidity in the industry is understandable. As GlobeSt.com has frequently reported, many projects are caught. Initial financing several years ago came under
- [There are Four Different NOIs in a CRE Deal. Which One is Best?](https://carnm.realtor/there-are-four-different-nois-in-a-cre-deal-which-one-is-best/) - The most important metric in valuing a CRE property is the net operating income (NOI). It is used as the basis for CRE valuation whether it is an acquisition, sale, or appraisal. A property’s NOI is calculated as follows: Gross Potential Rent (annual rent for all signed leases plus vacant space at the market rent)
- [Bankrupt Bed Bath & Beyond to Vacate Stores by June](https://carnm.realtor/bankrupt-bed-bath-beyond-to-vacate-stores-by-june/) - This weekend Bed Bath & Beyond filed for bankruptcy protection, a long-awaited event that retail landlords have been preparing for for months. The retailer’s 360 Bed Bath & Beyond and 120 Buy Buy Baby stores and websites will remain open and continue serving customers as it “begins its efforts to effectuate the closure of its
- [More People are Losing Jobs and More of Them are High-Earners](https://carnm.realtor/more-people-are-losing-jobs-and-more-of-them-are-high-earners/) - Ongoing economic struggles, increased by the Federal Reserve’s interest rate hikes to battle inflation, are taking a toll. The Fed’s latest projections suggest that unemployment will be 4.5% in 2023 and 4.6% both next year and the one after. Remembering that unemployment was 3.5% in March, that is a big jump. And, turning a focus to CRE,
- [Recourse And Non-Recourse Debt In The Commercial Real Estate Context](https://carnm.realtor/recourse-and-non-recourse-debt-in-the-commercial-real-estate-context/) - The coming banking crisis, and suggestions of an incoming bust in commercial real estate, has given rise to some questions about recourse versus non-recourse debt and what impact the differences in those types of debt may have on these areas of the economy. The bottom line is that it probably will not make much difference,
- [Alternative CRE Assets Took a Bigger Hit Than Traditional Ones in Q1](https://carnm.realtor/alternative-cre-assets-took-a-bigger-hit-than-traditional-ones-in-q1/) - MSCI recently covered overall CRE activity in Q1: deal activity down 56%, cap rates up 30 basis points. In addition to more detail by property type, the firm also looked at alterative CRE sectors, including medical office, manufactured homes, life science/R&D, self-storage, student housing, age-restricted, cold storage, and data center. In 2020 Q2, they were 12%
- [The Delinquencies and Distress Are Here](https://carnm.realtor/the-delinquencies-and-distress-are-here/) - People in CRE have been wondering when the impact of macroeconomics and financial realities would mark the arrival of distressed properties. An analysis by CRED iQ of the close to 400 metropolitan statistical areas in the US, with more than $900 billion in outstanding CRE debt, suggests that the answer is now. Distress became more prevalent
- [Industrial Space Serving Manufacturing Gets a Closer Look](https://carnm.realtor/industrial-space-serving-manufacturing-gets-a-closer-look/) - Investors seeking higher cap rates are finding them in industrial spaces that serve manufacturing, according to a new report from CBRE. Although e-commerce-fueled bulk logistics space is the darling of the current cycle, manufacturing stimulates industrial space demand for both factories and warehouses. CBRE pointed to Austin, Phoenix, and Reno as areas that benefit from
- [Bank Jitters Could Cause a Real Estate Bond Mess](https://carnm.realtor/bank-jitters-could-cause-a-real-estate-bond-mess/) - The roiling of banking has generated shockwaves that are hitting other industries, like CRE. At first, it was a question of whether rent payments would come in from the tech startups doing business with Silicon Valley Bank. Then concern about what the Fed might do about interest rates came in. A consortium of large banks saving First Republic promised even more
- [US retail sector leads corporate defaults: S&P Global](https://carnm.realtor/us-retail-sector-leads-corporate-defaults-sp-global/) - Dive Brief: The tally of corporate defaults this year through Feb. 28 was at its highest since 2009. Retail led the way, with seven out of 23 defaults, or 30% of the global tally, through the end of February, S&P Global Ratings said in a report this month. Retail “continues to face challenges from logistics, labor,
- [Study: Vast Majority of Bank Interventions Turn Into Systemic Distress](https://carnm.realtor/study-vast-majority-of-bank-interventions-turn-into-systemic-distress/) - There is a familiarity to the current banking crisis if you think back to the Great Recession or the S&L meltdown of the 1980s. There is some move of deregulation and then, within a few years, more or less, some group of banks gets hit hard and the US government goes into overdrive to control
- [Moody’s Analytics Tries to Handicap Office Economic Vulnerability](https://carnm.realtor/moodys-analytics-tries-to-handicap-office-economic-vulnerability/) - Last week, Moody’s Analytics pointed out that moderate changes to office cap rates and cash flows could cause big problems. This week, the company digs in more to recognize that a threat for CRE isn’t uniform and the question those in the industry should look at is vulnerability and how much sway concerns with banks could hold.
- [What Investors Should Know About Office Buildings with Subleases](https://carnm.realtor/what-investors-should-know-about-office-buildings-with-subleases/) - Availability of office space for sublease has climbed markedly in the Tampa Bay area, where we’re based, matching a trend that is prevalent around the country. In fact, a number of large metro areas like Chicago and San Francisco have recently set records for the amount of office sublease space that’s available. The continuing evolution of
- [Restaurants Struggle to Find Affordable Space for Their Expansion Plans](https://carnm.realtor/restaurants-struggle-to-find-affordable-space-for-their-expansion-plans/) - Investors in real estate with a restaurant component are finding themselves in a glass half-full, glass half-empty kind of environment. On the one hand, strong demand for retail space from the food and beverage sector is pushing up rents. On the other hand, a shortage of retail space in desirable neighborhoods and rising rents are
- [Rent Control Won’t Make Housing More Affordable](https://carnm.realtor/rent-control-wont-make-housing-more-affordable/) - No question, there’s a housing shortage across the U.S., and housing prices are soaring. To combat this, several states and municipalities have proposed rent control measures to make housing more affordable. But as we’ve seen, rent control doesn’t work the way it’s supposed to. Some of the common sense arguments against rent control include the
- [Real Estate's Global Emissions Are Getting Worse. Many In Industry Have No Plans To Improve](https://carnm.realtor/real-estates-global-emissions-are-getting-worse-many-in-industry-have-no-plans-to-improve/) - Almost half of the world’s largest real estate investors, which between them own or control more than $1.2T of property, have no target to reduce the carbon emissions from their portfolios. Real estate is responsible for 40% of global greenhouse gas emissions, but a Bisnow analysis of real estate’s 75 largest institutional investors, listed companies and investment
- [The Office Buildings Struggling the Most Share Several Characteristics](https://carnm.realtor/the-office-buildings-struggling-the-most-share-several-characteristics/) - Office buildings were hit hard during the pandemic, leading to higher vacancy rates and reduced occupancy demand– trends that continue today. The 10% hit the very hardest between the first quarter of 2020 when the pandemic began and the fourth quarter in 2022 when it had greatly waned have been labeled the “hardest-hit buildings” or
- [Ultra Low Interest Rates Will Be Back — But That's Not Entirely A Good Thing For Real Estate](https://carnm.realtor/ultra-low-interest-rates-will-be-back-but-thats-not-entirely-a-good-thing-for-real-estate/) - Inflation was a blip, and long-term ultra-low interest rates will return — but only because world economic growth will be anemic. That is the not entirely upbeat conclusion of the latest IMF World Economic Outlook, which portrays inflation as a blip, not a global reset. The document looks at growth potential, inflation and interest rates, and it describes a rocky road ahead.
- [Texas company to add more industrial space in Santa Teresa](https://carnm.realtor/texas-company-to-add-more-industrial-space-in-santa-teresa/) - A Texas development company on March 29 announced that it's started the latest development phase on a master-planned industrial park in Santa Teresa. Blue Road Investments, which is based in Dallas, broke ground at the Westpark Logistics Center on what it calls Building 3 and Building 4. The two projects will total 646,263 square feet. At
- [New Mexico to receive $40M for these three broadband projects](https://carnm.realtor/new-mexico-to-receive-40m-for-these-three-broadband-projects/) - Growing up in a rural community called Beaverhead in southern New Mexico, John Diamond’s family used a generator for electricity and made calls using a radiophone. A broker who sells farms and ranches, Diamond ultimately moved to the Elephant Butte area — in part because he needed better internet services. “There were several reasons but
- [2023’s States with the Best & Worst Taxpayer ROI](https://carnm.realtor/2023s-states-with-the-best-worst-taxpayer-roi/) - Tax Day can be a painful reminder of how much we have to invest in federal, state and local governments, though many of us are unaware of exactly what they give us in return. As a result, this creates a disconnect in the minds of taxpayers between the amount of money we should fork over
- [Is Now a Good Time to Buy Office? Experts Weigh In](https://carnm.realtor/is-now-a-good-time-to-buy-office-experts-weigh-in/) - Colliers wonders if the “next great buying cycle” for office could be now. It points to research by Revolution that notes that when lenders tighten, the four-year forward price change vastly outperforms. “Think back to the early 1990s savings and loan crisis, the dot-com bust, and the Global Financial Crisis,” Colliers’ Aaron Jodka wrote. “Those
- [Real Estate Investors Brace for a Liquidity Squeeze Amid Bank Sector Turmoil](https://carnm.realtor/real-estate-investors-brace-for-a-liquidity-squeeze-amid-bank-sector-turmoil/) - A firestorm among the banking sector, including the failures of Silicon Valley Bank and New York’s Signature and infusions of capital into First Republic Bank and Credit Suisse, has real estate investors scrambling to figure out what this all means for accessing debt. “Our house view is that there is certainly a more constrained credit market, at least
- [Charging ahead](https://carnm.realtor/charging-ahead/) - The real estate industry may be undergoing some of its most significant infrastructure improvements as the electric vehicle (EV) takes hold and the U.S. government pursues the goal of ending the production of internal combustion engines by 2035. In the coming months and years, EVs will appear more often at properties of all types, and
- [The Rise of the “Moneyball Era” of Commercial Real Estate](https://carnm.realtor/the-rise-of-the-moneyball-era-of-commercial-real-estate/) - In 1997, Billy Beane, the former general manager of the Oakland A’s, applied Bill James’ sabermetric analytical concepts to the team’s scouting and player evaluation practices. This exercise, while not particularly complex, was innovative, and the outcome changed the game forever. The need for this change was twofold. Prior to that time, baseball scouting used
- [Forging New Paths](https://carnm.realtor/forging-new-paths/) - Beginning in the late 1950s and throughout the 1960s, a generously funded federal highway program carved large swaths through countless neighborhoods and cities across the country. In Rochester, N.Y., an extension of the national highway system known as the Inner Loop displaced hundreds of homes and businesses as it encircled the city’s downtown. In New
- [Multifamily Plays the Rent Growth Waiting Game](https://carnm.realtor/multifamily-plays-the-rent-growth-waiting-game/) - The pandemic set off an unusual time in multifamily. The sector became part of the short game. Rents drove upward, responding to increased prices, and things moved very fast. But with the shifts of the market, it’s time for the long game — remembering, or learning, how to maintain the success of multifamily property management
- [Growth in Electric Vehicle Production Expands Opportunities for Industrial Developers](https://carnm.realtor/growth-in-electric-vehicle-production-expands-opportunities-for-industrial-developers/) - This past week, German car manufacturer Volkswagen AG announced that it planned to invest approximately $193 billion over the next five years on shoring up its business in China and the U.S., with $131 billion of that sum going toward the development of electric vehicles (EVs) and new digital technologies. Among the projects included in that five-year
- [The Construction Materials Shortage: The Story So Far](https://carnm.realtor/the-construction-materials-shortage-the-story-so-far/) - Due in part to the COVID-19 pandemic, more people want to build a new home, move somewhere larger, or renovate than ever before. As a result, there is a huge demand for homes and building materials. However, there is also a shortage of various construction materials, as you might already be well aware. If you've
- [Arcosa chooses New Mexico for new wind-tower production facility](https://carnm.realtor/arcosa-chooses-new-mexico-for-new-wind-tower-production-facility/) - Belen will get a big economic boost with the expansion of a wind-tower manufacturer into the area, one that will add roughly 250 jobs. Texas-based Arcosa Inc. announced Tuesday its subsidiary, Arcosa Wind Towers, will open a wind-tower production facility in Belen with production to begin as soon as next year. The company’s expansion into
- [A PRACTICAL GUIDE TO RETRO-COMMISSIONING IN THE AGE OF CLIMATE CHANGE](https://carnm.realtor/a-practical-guide-to-retro-commissioning-in-the-age-of-climate-change/) - Sustainability in the built environment is an expansive industry and currently enjoying its time in the spotlight due to increased pressures from communities and governmental bodies to combat climate change. From building design initiatives such as net zero and electrification to renewables and green building certifications, it can be a complicated and overwhelming field to
- [Homeward Bound](https://carnm.realtor/homeward-bound/) - More than half of American CEOs (55%) whose companies rely on manufacturing to produce and deliver their products recently reported plans to reshore some operations. Of those, 95% said they would do so in 2023, according to the survey conducted by Xometry, Zogby and Forbes in late December. While not all those CEOs are looking to move
- [Ikea Is Trying to Follow in the Footsteps of Sears Roebuck in Building its Own Mixed-Use Centers. What Are its Chances of Success?](https://carnm.realtor/ikea-is-trying-to-follow-in-the-footsteps-of-sears-roebuck-in-building-its-own-mixed-use-centers-what-are-its-chances-of-success/) - The retailer’s shopping center arm just bought a building in downtown San Francisco. It’s on the lookout for more of the same. Swedish retail giant Ikea, known for its inexpensive, modern, hard-to-assemble furniture, traditionally doesn’t target urban cores. Instead, it typically builds its warehouse-style stores, averaging 320,000 sq ft., in suburban areas. Now, the Ingka
- [March 2023 CCIM Deal Making Session Properties](https://carnm.realtor/march-2023-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the March 2023 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous.
- [February 2023 Commercial Market Insights](https://carnm.realtor/february-2023-commercial-market-insights/) - Download (PDF: 2 MB) Commercial real estate started the new year on a slow note with lower demand, smaller rent price gains, and higher vacancy rates. Office and multifamily are the two sectors that face additional headwinds this year. In these two sectors, vacancy rates are more than 0.8 percentage points higher than a year ago.
- [Volatility in 2022, Uncertainty in 2023](https://carnm.realtor/volatility-in-2022-uncertainty-in-2023-2/) - Executive Summary Economic and geopolitical uncertainty resulted in significant volatility for a wide variety of data points in 2022. Recession probabilities for 2023 remain high not just for the US but for many countries around the world; however, consensus forecasts suggest that most market players expect a relatively short, shallow downturn, with recovery to ensue
- [2023's Property Taxes by State](https://carnm.realtor/2023s-property-taxes-by-state/) - Depending on where you live, property taxes can be a small inconvenience or a major burden. The average American household spends $2,690 on property taxes for their homes each year, according to the U.S. Census Bureau, and residents of the 26 states with vehicle property taxes shell out another $444. Considering these figures and the massive
- [Active Versus Passive Real Estate Appreciation in Real Estate Litigation](https://carnm.realtor/active-versus-passive-real-estate-appreciation-in-real-estate-litigation-2/) - Introduction In the context of partnership disputes or marital dissolution, there may be situations where an appraiser is asked to consider whether real estate appreciation over a period of time is the result of active management decisions versus passive market forces, requiring an appraiser to consider the concept of active versus passive appreciation/depreciation. Evaluating a
- [Amazon, Laying Off 18K, Pauses Second Half of HQ2 Project](https://carnm.realtor/amazon-laying-off-18k-pauses-second-half-of-hq2-project/) - Three Amazon office towers, spiraling glass Helix totaling 3.3M SF put on hold.
- [Distressed and Opportunistic CRE Funds: Explained](https://carnm.realtor/distressed-and-opportunistic-cre-funds-explained/) - With the near-term outlook for commercial real estate performance becoming clouded because of rising interest rates and lingering fears of a recession, more investment managers are talking about putting together funds targeting opportunistic real estate investments. But what are opportunistic real estate funds and how do they differ from the funds targeting distressed real estate that
- [U.S. Industrial Market Benefits from Rise in Onshore Manufacturing](https://carnm.realtor/u-s-industrial-market-benefits-from-rise-in-onshore-manufacturing/) - A rise in onshore manufacturing operations by U.S. companies is creating more demand for factory space nationwide. The 3.8 billion-sq.-ft. manufacturing facility market recorded a record low 3.4% availability rate at year-end 2022 after annual absorption of 53.8 million sq. ft.—the highest amount since 2016 and the second consecutive year that net absorption has surpassed
- [Multifamily Keeps Benefiting From Hurting Housing Supply](https://carnm.realtor/multifamily-keeps-benefiting-from-hurting-housing-supply/) - In the 2022 US housing report from the National Association of Realtors and Move.com, which operates Realtor.com for the NAR, the big news is more of the same. The market is now, by their count, 6.5 million new single-family homes short of population and household formation growth. For multifamily, that turns into good economic news.
- [Wave of Rural Nursing Home Closures Keeps Growing](https://carnm.realtor/wave-of-rural-nursing-home-closures-keeps-growing/) - An increasing number of rural nursing homes in states including Iowa, Wisconsin and Montana are closing their doors because they have chronically low occupancy levels and can’t compete for scarce workers as wages rise. The wave of closures of half-occupied skilled nursing facilities is creating a crisis in nursing home access for residents who, in
- [Exclusive Research: Continued Confidence in Industrial Real Estate, Despite Headwinds](https://carnm.realtor/exclusive-research-continued-confidence-in-industrial-real-estate-despite-headwinds-2/) - Despite strong fundamentals that are continuing to position industrial as one of the most favored property sectors, rising capital costs and slowing economic growth are creating a cooling effect on what has been a white-hot industrial investment market. Exclusive survey results from the ninth annual WMRE industrial market survey show that the sector remains firmly entrenched as
- [Fed's Beige Book: CRE Activity Remains Steady](https://carnm.realtor/feds-beige-book-cre-activity-remains-steady/) - The economy gains some momentum but still no big recovery in CRE.
- [Economic Watch: Annual Inflation Falls to 6% in February; 25-bp Rate Hike Likely Next Week](https://carnm.realtor/economic-watch-annual-inflation-falls-to-6-in-february-25-bp-rate-hike-likely-next-week/) - Executive Summary The Consumer Price Index (CPI) rose by 6.0% year-over-year and 0.4% month-over-month in February, in line with consensus expectations. Lower energy prices helped reduce the annual rate from 6.4% in January. Core inflation, which excludes food and energy prices, rose by 5.5% annually. On a month-over-month basis, core inflation increased more than expected
- [The Rise and Fall of Office to Multifamily Conversions: A Real Estate Investigation](https://carnm.realtor/the-rise-and-fall-of-office-to-multifamily-conversions-a-real-estate-investigation/) - Initially, the COVID-19 pandemic dealt a heavy blow to office and multifamily demand. As cities across the U.S. closed indoor spaces, office workers resorted to working from home, and many of those workers moved to homes further away from urban centers. Multifamily renters in expensive, shuttered downtowns fled major metros for more affordable markets where
- [Banking’s Next Threat? It Might Be Commercial Real Estate](https://carnm.realtor/bankings-next-threat-it-might-be-commercial-real-estate/) - If the saga at Silicon Valley Bank hastens the arrival of the next recession, expect to see many more properties go into default sooner rather than later.
- [Industrial Space Demand Forecast, First Quarter 2022](https://carnm.realtor/industrial-space-demand-forecast-first-quarter-2022/) - Scarcity Drives Unprecedented Industrial Space Demand Just when the industrial market seemed it could not get any stronger, the new year has seen demand for space far outpace the supply of new product. Rents have correspondingly increased rapidly, and many firms simply cannot find space to lease. The scarcity is so great that firms are
- [Impact of Driverless Vehicles on Real Estate: Ethical and Legal Issues](https://carnm.realtor/impact-of-driverless-vehicles-on-real-estate-ethical-and-legal-issues-2/) - Many articles1, journals2, books3, and other sources have discussed the continued and expansive nature of vehicles that are driven by computers as opposed to human beings.4 We have written and presented many programs on driverless vehicles (“DV”).5 Many of the materials mentioned as to DV have focused on the technological aspects of such vehicles. Some of our
- [Rescue Capital: Staying Afloat Amid Uncertainty in the Real Estate Market](https://carnm.realtor/rescue-capital-staying-afloat-amid-uncertainty-in-the-real-estate-market-2/) - Rescue capital is a more efficient and cost-effective way to recapitalize a real estate asset. Distressed situations can often be remedied without any further action being necessary.
- [It’s Raining Multifamily](https://carnm.realtor/its-raining-multifamily/) - “It’s Raining Men,” so the 1980s song by the Weather Girls went. More than 40 years later, what’s raining is multifamily units. In a research brief, CBRE forecasts that 716,000 multifamily housing units will hit the market over the next 24 months. The sector’s overall vacancy rate will swell above the current 4.6% equilibrium vacancy
- [Storage is the Top Amenity for Built-to-Rent Homes](https://carnm.realtor/storage-is-the-top-amenity-for-built-to-rent-homes/) - Fabulous amenities are all well and good when developing built-to-rent single-family home communities, but really, it’s the space that’s selling especially storage. Those were among the comments from a panel of developers and architects last week at the IMN’s BTR East Conference in Nashville. Lisa Taylor, senior managing director, Greystar; led a panel that included
- [Rescue Capital: Staying Afloat Amid Uncertainty in the Real Estate Market](https://carnm.realtor/rescue-capital-staying-afloat-amid-uncertainty-in-the-real-estate-market/) - Rescue capital is a more efficient and cost-effective way to recapitalize a real estate asset.
- [Exclusive Research: Continued Confidence in Industrial Real Estate, Despite Headwinds](https://carnm.realtor/exclusive-research-continued-confidence-in-industrial-real-estate-despite-headwinds/) - Despite strong fundamentals that are continuing to position industrial as one of the most favored property sectors, rising capital costs and slowing economic growth are creating a cooling effect on what has been a white-hot industrial investment market. Exclusive survey results from the ninth annual WMRE industrial market survey show that the sector remains firmly entrenched as
- [NAR Commercial Real Estate Metro Market Report | 2022.Q3 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2022-q3-albuquerque-nm/) - The Albuquerque, NM commercial real estate market is stronger compared to the overall U.S. market. NAR Commercial Real Estate Market Conditions Index* 52.0 Overall economic conditions are stronger than nationally. The apartment property market is not as strong than nationally. The office property market is stronger than nationally. The industrial property market is not as
- [The average American tenant is rent-burdened. Here’s what that means for the economy.](https://carnm.realtor/the-average-american-tenant-is-rent-burdened-heres-what-that-means-for-the-economy/) - For the first time in over 20 years, the typical American spends 30 percent of their income on housing.
- [Tax Considerations Relating to Debt for Distressed CRE Owners](https://carnm.realtor/tax-considerations-relating-to-debt-for-distressed-cre-owners-2/) - In addition to analyzing the economics of a distressed position, real estate owners must consider the tax implications of the various outcomes surrounding debt.
- [CRE Prices Slide at a Rate Not Seen Since 2010](https://carnm.realtor/cre-prices-slide-at-a-rate-not-seen-since-2010/) - January was a bad month for commercial property prices, which fell “at an annual pace of decline not seen since late 2010 after the Global Financial Crisis,” according to an MSCI report. “The RCA CPPI National All-Property index dropped 4.8% from a year ago and 2.7% from December. The monthly decrease represents an annualized decline
- [This is Why Multifamily Developers Have Soured on the Sunbelt](https://carnm.realtor/this-is-why-multifamily-developers-have-soured-on-the-sunbelt/) - For years multifamily developers and owners have flocked to the Sunbelt cities to invest, drawn by the region’s fast-growing markets, great fundamentals and light regulatory touch. All that development, however, has taken a toll and this year, apartment rent growth in the Sunbelt markets is expected to be lower than that of Gateway cities, according
- [CRE Prices Could Fall 40% This Year in an Adverse Fed Planning Scenario](https://carnm.realtor/cre-prices-could-fall-40-this-year-in-an-adverse-fed-planning-scenario/) - After the Federal Reserve developed its 2023 stress test scenarios — the baseline and severely adverse sets of assumptions used in testing the resilience of large banks — Trepp projected potential commercial real estate property prices and portfolio losses under each. This is scenario planning, so the most challenging assumptions aren’t a prediction of a likely outcome. But even
- [​CBRE Survey: There Will Be a Significant Reduction in Buying and Lending This Year](https://carnm.realtor/cbre-survey-there-will-be-a-significant-reduction-in-buying-and-lending-this-year/) - Buying and lending expectations are in flux in most commercial real estate sectors as investors and lenders plan to significantly reduce their activity in 2023 due to rising interest rates, economic uncertainty, and associated impacts on values, according to a new report from CBRE. The report senses a cautious mood, and CBRE believes “pessimism may
- [Six Reasons 2023 Is the Year of the 1031 Exchange](https://carnm.realtor/six-reasons-2023-is-the-year-of-the-1031-exchange/) - Many long-term owners are starting to recognize their upside in the near future is gone, yet their management headaches and expenses remain.
- [Experts Keep Guessing at When the US Will See a Recession](https://carnm.realtor/experts-keep-guessing-at-when-the-us-will-see-a-recession/) - Experts are at odds over when a recession might occur. On the whole, they’re expecting one. But timing is the question. Well, one of many, to be accurate. ‘The National Association for Business Economics (NABE) recently released the February 2023 edition of its regular Outlook survey, in this case of 48 professional economic forecasters. “Results
- [2023 Could be Year Apartment Owners Compete for Renters](https://carnm.realtor/2023-could-be-year-apartment-owners-compete-for-renters/) - Rent growth for February snapped the five-month YoY monthly trend of declines.
- [Beyond Population Shifts: Why Multifamily’s Outlook Is Good](https://carnm.realtor/beyond-population-shifts-why-multifamilys-outlook-is-good/) - After historical performance, it’s tough to top yourself. Multifamily has faced that challenge, according to Marcus & Millichap’s 2023 Multifamily National Investment Forecast. How do you beat the performance that multifamily established during the height of the pandemic? People have to live somewhere, demographic shifts changed the where the population was and moving to, a
- [Industrial Lease Spreads Are on the Rise](https://carnm.realtor/industrial-lease-spreads-are-on-the-rise/) - With the ups and downs of various product types — those of you on the outs know who you are — there’s been some strong activity on the part of industrial, according to an analysis of Yardi data by CommercialEdge. The demand for space has pushed up spreads between existing and new leases. Out of
- [Eight Perspectives on Current Real Estate Investment Trends](https://carnm.realtor/eight-perspectives-on-current-real-estate-investment-trends/) - Rising interest rates and an uncertain macroeconomic climate have disrupted real estate investment sales volumes. Gaps remain between buyers, who want to acquire at 2023 prices, and sellers, who are still asking at 2022 valuations. That disconnect, along with more stringent lending conditions, have combined to lead to massive drops in the amount of properties
- [Two Office Landlords Defaulting May Be Just the Beginning](https://carnm.realtor/two-office-landlords-defaulting-may-be-just-the-beginning/) - (Bloomberg) -- A Pacific Investment Management Co. office landlord that defaulted on $1.7 billion of mortgage notes sent shockwaves through a troubled part of the real estate market. For years, property owners have been grappling with the rise of remote work — a problem so large that one brokerage estimates roughly 330 million square feet (31 million square meters) of office
- [Cost of Capital Has CRE Projects Mostly Stalled](https://carnm.realtor/cost-of-capital-has-cre-projects-mostly-stalled/) - The rising cost of capital has stalled most commercial real estate development in 2023. Unless projects were already underway or financing had been secured, there will be few projects started, according to John Chang, senior vice president of research services, Marcus & Millichap. In the firm’s 2023 Construction Trends Report video, Chang said that otherwise,
- [Impact of Driverless Vehicles on Real Estate: Ethical and Legal Issues](https://carnm.realtor/impact-of-driverless-vehicles-on-real-estate-ethical-and-legal-issues/) - Some of our articles6, too, have directed the reader’s attention to the stages of technological development for DV. This article is not directed to such discoveries on DV. Rather, the DV field must be examined in a multitude of areas. One of those fields that has not been examined in much detail covers the issue
- [Volatility in 2022, Uncertainty in 2023](https://carnm.realtor/volatility-in-2022-uncertainty-in-2023/) - Executive Summary Economic and geopolitical uncertainty resulted in significant volatility for a wide variety of data points in 2022. Recession probabilities for 2023 remain high not just for the US but for many countries around the world; however, consensus forecasts suggest that most market players expect a relatively short, shallow downturn, with recovery to ensue
- [Private Assets Like CRE Can Create a ‘New’ 60-40 Model for Portfolios](https://carnm.realtor/private-assets-like-cre-can-create-a-new-60-40-model-for-portfolios/) - For decades, many financial advisors have followed a formula for traditional client portfolio allocation which could broadly be described as 60 percent in equities and 40 percent in bonds, otherwise known as the 60-40 model. The rationale was that bonds represented a defensive bucket, while equities gave exposure to higher risk/return potential. Investors could take
- [Active Versus Passive Real Estate Appreciation in Real Estate Litigation](https://carnm.realtor/active-versus-passive-real-estate-appreciation-in-real-estate-litigation/) - Introduction In the context of partnership disputes or marital dissolution, there may be situations where an appraiser is asked to consider whether real estate appreciation over a period of time is the result of active management decisions versus passive market forces, requiring an appraiser to consider the concept of active versus passive appreciation/depreciation. Evaluating a
- [Tax Considerations Relating to Debt for Distressed CRE Owners](https://carnm.realtor/tax-considerations-relating-to-debt-for-distressed-cre-owners/) - Negative cash flows, high vacancy rates, environmental and geographic concerns and other macroeconomic factors are all risks, and, therefore, reasons why real estate owners may experience operating distress. Furthermore, real estate owners commonly finance the acquisition of properties with debt, which comes along with various debt covenants, restrictions and debt service requirements. As a result
- [Raises for Retail Workers Won't Protect Them From Automation](https://carnm.realtor/raises-for-retail-workers-wont-protect-them-from-automation/) - Historically, companies ramp up restructuring after large economic shocks with an eye toward labor-saving technologies.
- [Seeing an Opportunity, CRE Debt Funds Raise Massive War Chests](https://carnm.realtor/seeing-an-opportunity-cre-debt-funds-raise-massive-war-chests/) - With many traditional lenders becoming more conservative in a high-interest rate environment, debt funds see a chance to grab market share.
- [The Cliched Perfect Storm May Be Headed to the Office Market](https://carnm.realtor/the-cliched-perfect-storm-may-be-headed-to-the-office-market/) - A new analysis by Trepp and CompStak raises the question of whether the office segment of CRE is facing a now-cliched perfect storm metaphor.
- [New Wage Growth Will Influence Fed's Interest Rate Decisions](https://carnm.realtor/new-wage-growth-will-influence-feds-interest-rate-decisions/) - As many are waiting to see what the Federal Open Market Committee of the Federal Reserve has decided about interest rates, their eyes should be on employment costs. Those are one way of discussing wage growth, and that figure is seriously on the Fed’s mind. On Tuesday, the Bureau of Labor Statistics released the monthly employment
- [Space launch](https://carnm.realtor/space-launch/) - The self-storage real estate sector has seen impressive growth recently, with over 250 million square feet of storage space built in just the past five years, according to Yardi’s StorageCafe. There are now over 50,000 self-storage properties in the U.S.—more than all the Subway, Dollar General, and CVS locations combined. Self-storage customers cite moving to
- [Multifamily Underwriting Assumptions Are Up Over Pre-Pandemic Times](https://carnm.realtor/multifamily-underwriting-assumptions-are-up-over-pre-pandemic-times/) - Underwriting has gotten tougher in multifamily, according to a new analysis from CBRE — at least for prime assets. That probably isn’t a shock to many in the industry. Interest rates are up, as are concerns about property owners who purchased and set strategies when rates were very low and available leverage high. What once
- [New Mexico’s unemployment rate has dropped to the lowest level in nearly 15 years](https://carnm.realtor/new-mexicos-unemployment-rate-has-dropped-to-the-lowest-level-in-nearly-15-years-2/) - The unemployment rate continues to drop in New Mexico and last month was no exception.
- [The US Is Nationally Rent Burdened for the First Time](https://carnm.realtor/the-us-is-nationally-rent-burdened-for-the-first-time/) - The US is now rent-burdened nationally for the first time, according to new research from Moody’s, as wage growth increasingly trails rent growth. The national average rent-to-income (RTI) reached 30% for the first time in the more than 20 years Moody’s has tracked, up 1.5% from year-ago and 0.2% from Q3. The metros with the
- [Tight Industrial Supply Turns Subleases Profitable](https://carnm.realtor/tight-industrial-supply-turns-subleases-profitable/) - Some dynamics of logistical and industrial space leasing are feeling pressures of inadequate supply, according to a panel of NAI Global industrial and logistics real estate experts meeting virtually. Although demand pacing ahead of supply had become expected by partway through the pandemic — industrial with multifamily being the two darling property types for owners
- [Expiring Interest Rate Caps to Fuel Distressed Property Sales](https://carnm.realtor/expiring-interest-rate-caps-to-fuel-distressed-property-sales/) - An exponential increase in the cost of interest-rate caps—insurance that CRE borrowers with floating rates purchase to hedge against rate increases—may soon spawn a wave of property sales in an increasingly distressed market. In 2019, the Mortgage Bankers Association estimated that up to one-third of all commercial property debt was floating rate, with most lenders
- [Mega-Deals Reinforce Foreign Appetite for U.S. Real Estate](https://carnm.realtor/mega-deals-reinforce-foreign-appetite-for-u-s-real-estate/) - GFH Financial Group, a Middle East-based investment group, kicked off 2023 with an announcement that it had bought a majority stake in Big Sky Asset Management, a $2 billion U.S.-based real estate asset manager focused on healthcare real estate. The investment follows GFH’s May 2022 acquisition of SQ Asset Management, a leading specialist in the U.S.
- [3 REASONS COMPANIES ARE ADDING FLEXIBLE OFFICE SOLUTIONS TO THEIR CORPORATE REAL ESTATE PORTFOLIOS](https://carnm.realtor/3-reasons-companies-are-adding-flexible-office-solutions-to-their-corporate-real-estate-portfolios/) - With hybrid work quickly becoming the norm, flexible office space has only risen in popularity coming out of the pandemic. The number of people working in coworking spaces, for example, hasn’t just continued to grow steadily—it’s more than tripled since 2015. According to the hybrid workspace experts at Regus: 90% of employees want flexibility in where and
- [Where Demand for Industrial Space is Coming From Now](https://carnm.realtor/where-demand-for-industrial-space-is-coming-from-now/) - Logistics and parcel delivery remains No. 1 in million square feet requirements for industrial space but other industries have been making traction, according to a new report from JLL. The report showed that the automotive industry has seen its demand increase by more than 156% since 2021 to serve an influx of electric vehicle and
- [Apartment Landlords Could Start Fighting Over Renters This Year](https://carnm.realtor/apartment-landlords-could-start-fighting-over-renters-this-year/) - Multifamily rents are falling as fewer households move and recession fears mount — and one industry expert predicts the balance of power between landlords and tenants will continue to change in turn. Apartment List’s national rent index saw prices fall 0.8% over December, bringing the national median rent price down $43 from its 2022 peak. “It’s
- [The Potential Economic Consequences of a U.S. Default](https://carnm.realtor/the-potential-economic-consequences-of-a-u-s-default/) - As head of financial and economic research at Buckingham Wealth Partners, I’ve been getting lots of queries from investors concerned about the risk of the U.S. defaulting on its debt. In this article, I’ll explain the situation, point out the risks and provide strategies investors can consider to address them. The Current Situation The U.S.
- [How developers are keeping the construction pipeline flowing](https://carnm.realtor/how-developers-are-keeping-the-construction-pipeline-flowing/) - Apartment developers are getting creative in order to keep the construction pipeline flowing amid construction and capital challenges. Four of the developers leading those efforts described their approach to continue building new housing in a session at the 2023 NMHC Apartment Strategies Conference in Las Vegas Tuesday. Each of the panelists has seen delays in
- [Outpatient Health Care Services Driving CRE Income](https://carnm.realtor/outpatient-health-care-services-driving-cre-income/) - Nationally it appears that there is insufficient square footage available to accommodate the significant growth seen in the healthcare real estate sector, with the rate of absorption outpacing new product deliveries, according to Northmarq. “This has put national occupancy rates for medical office at a historic high,” Colin Cornell, Northmarq vice president, healthcare investment sales,
- [Fed Reports Tighter Standards and Weaker Demand for CRE Loans](https://carnm.realtor/fed-reports-tighter-standards-and-weaker-demand-for-cre-loans/) - The January 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices from the Federal Reserve has the type of headline results for commercial real estate lending that you might expect: tighter standards and weaker demands across all CRE loan categories. Those in the industry have reported slowing demand, higher financing costs, tightening standards, and
- [Retail Tenant Watch List 'Far Less Crowded' Than Pre-COVID](https://carnm.realtor/retail-tenant-watch-list-far-less-crowded-than-pre-covid/) - AMC, Bed Bath & Beyond, Belk, Cineworld, Party City and Rite Aid top Green Street’s list of the most at-risk publicly traded, mall-based anchor tenants, landing in the “critical” category, according to a new report from the firm. As part of its analysis, Green Street tracks operational health, balance sheet, and stock performance, as well
- [Here is Where You Will Find Distress in Multifamily](https://carnm.realtor/here-is-where-you-will-find-distress-in-multifamily/) - Rents may be falling but fundamentally multifamily fundamentals are very strong. Widespread distress is highly unlikely to happen; indeed forecasts for the asset class’ long-term growth are quite rosy. But for investors eager to get a cost-effective foothold in this category or expand their holdings, here is an emerging opportunity: developers or owners that are
- [Sourcing Investment Opportunities That Go Beyond the Headlines](https://carnm.realtor/sourcing-investment-opportunities-that-go-beyond-the-headlines/) - Investors should look beyond headlines to find CRE opportunities over the five-year horizon, according to one industry watcher. “So much depends on each investors’ strategy, risk tolerance, knowledge, experience, capital, and geographic focus,” says Marcus & Millichap’s John Chang. But six key property types pose opportunities for growth for the savvy investor: you just have
- [Office Demand Unlikely to 'Ever to Revert in Full'](https://carnm.realtor/office-demand-unlikely-to-ever-to-revert-in-full/) - Holidays and extreme weather conditions prompted a typical seasonal office demand slowdown in December, according to the VTS Office Demand Index (VODI). However, the year-over-year decline for the month was slightly larger than in previous years. New demand for office space ended the year 31.3 percent below its May 2022 peak and fell 20.7 percent
- [Underwriting Assumptions Exceed Pre-Pandemic Levels for Prime Multifamily Assets](https://carnm.realtor/underwriting-assumptions-exceed-pre-pandemic-levels-for-prime-multifamily-assets/) - The average multifamily going-in cap rate increased by 38 basis points (bps) to 4.49% in Q4 2022, exceeding the pre-pandemic Q4 2019 average of 4.16%. Heightened market volatility and higher borrowing costs have pushed the cap rate up by 113 bps over the past nine months. Markets where multifamily cap rates increased rapidly in the
- [New Mexico’s unemployment rate has dropped to the lowest level in nearly 15 years](https://carnm.realtor/new-mexicos-unemployment-rate-has-dropped-to-the-lowest-level-in-nearly-15-years/) - The unemployment rate continues to drop in New Mexico and last month was no exception. According to data released Tuesday by the New Mexico Department of Workforce Solutions, the unemployment rate came in at 3.9% in December — a nearly 15-year low and the lowest rate in 2022. The last time New Mexico’s unemployment rate
- [Economic Development Is Not About Jobs Anymore. It’s About Workers](https://carnm.realtor/economic-development-is-not-about-jobs-anymore-its-about-workers/) - A strong post-pandemic economy—despite media accounts to the contrary—combined with a sizzling hot industrial real estate market, and dramatic shifts in office work patterns have combined to turn the traditional practice of economic development upside down, Christopher Thornberg, founding partner of Beacon Economics, told attendees of NAIOP’s I.CON West: The Industrial Real Estate Conference taking
- [Review: Updated CIE Rules - Effective 3/15/22](https://carnm.realtor/review-updated-cie-rules-effective-3-15-22/) - Please Review: Updated CIE Rules and Regulations Read Red-Lined CIE Rules The CARNM Board approved changes to the CARNM CIE Rules and Regulations, which are red-lined. These changes affect CIE participants. We encourage you to review the CIE Rules. Pursuant to the CIE Rules, changes approved by the CARNM Board of Directors shall be
- [CRE 'Largely Spared' from Pandemic Recession](https://carnm.realtor/cre-largely-spared-from-pandemic-recession/) - NAIOP’s annual report for 2021 shows commercial real estate’s growing impact on the US economy. Despite some whipsaw employment numbers—which didn’t prove too detrimental—the construction market in 2021 was “largely spared” from the pandemic recession, according to the annual research study conducted by the NAIOP Research Foundation. According to the report, “in March and April
- [Pop-Up Restaurants May Stick Around As COVID Sees Resurgence](https://carnm.realtor/pop-up-restaurants-may-stick-around-as-covid-sees-resurgence/) - Cheaper to operate than regular restaurants, pop-ups let chefs and owners keep working and making a living during the early part of the pandemic.
- [Intel Expanding In NM, With Billions In Investment](https://carnm.realtor/intel-expanding-in-nm-with-billions-in-investment/) - Company executives unveiled the $3.5 billion investment at an outdoor news conference at the plant with Gov. Michelle Lujan Grisham and other state and local officials.
- [Where the Apartment Market Stands One Year After COVID](https://carnm.realtor/where-the-apartment-market-stands-one-year-after-covid/) - While a now-improving economy might suggest that the worst is behind us for missed rent payments, there’s still some downside risk. COVID-19 became a real thing for lots of people on March 11, 2020. Over the past year, many of us at RealPage have referred to the date as Tom Hanks Day, since it’s when
- [Grab Your Clubs! CARNM Charity Golf Tournament 8/4/22](https://carnm.realtor/grab-your-clubs-carnm-charity-golf-tournament-8-4-22/) - Life is good when you're golfing FORE charity! Register to play, sponsor, or donate! CARNM, as an association, has a goal of reaching out and making a difference in the community. Proceeds will benefit two New Mexico charities: New Mexico Cancer Center Foundation and Running 505.
- [New Mexico’s Paid Sick Leave Law Goes Into Effect](https://carnm.realtor/new-mexicos-paid-sick-leave-law-goes-into-effect/) - A group of legislators, advocates and individuals celebrated the start of New Mexico’s Paid Sick Leave law
- [2022 Intersections: Earn Up to 5 CEs in One Day!](https://carnm.realtor/2022-intersections-register-before-september-5-2022-to-avoid-late-fee/) - Earn Up to 5 CE Credits In One Day | 4 CE Credits Qualify for Core Elective
- [Please Review Updated CIE Rules and Regulations](https://carnm.realtor/please-review-updated-cie-rules-and-regulations/) - The CARNM Board approved changes to the CARNM CIE Rules and Regulations, which are red-lined. Since these changes affect CIE participants, we encourage you to review the updated changes to the CIE Rules. Pursuant to the CIE Rules, changes approved by the CARNM Board of Directors shall be effective fourteen (14) days following notification to
- [January 2023 LIN Properties](https://carnm.realtor/january-2023-lin-properties/) - At the January 2023 LIN Meeting, 8 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the properties here. View the Thank Yous here.
- [January 2023 CCIM Deal Making Session Properties](https://carnm.realtor/january-2023-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the January 2023 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous.
- [Industrial Sublease Space Ticks Up As Demand Moderates](https://carnm.realtor/industrial-sublease-space-ticks-up-as-demand-moderates/) - Sublease space is on the rise for the industrial sector, including some inventory that’s been listed in facilities still under construction.
- [New Apartment Demand 'All But Evaporated'](https://carnm.realtor/new-apartment-demand-all-but-evaporated/) - Demand for new apartment leases has “all but evaporated” as consumer confidence remains low and inflation continues to rise, according to the latest data from RealPage. In other words, say farewell to the days of record-high household formations. “We’ve never before seen a period like this – weak demand for all types of housing despite robust
- [Eight CRE Experts on Their Outlook for the New Year](https://carnm.realtor/eight-cre-experts-on-their-outlook-for-the-new-year/) - Inflation and interest rates—unsurprisingly, these economic indicators are top of mind for nearly everyone as 2023 gets underway, and the commercial real estate industry is no exception. Those looking to invest in or finance income-producing properties are keeping a close eye on what the Federal Reserve will do with interest rates in 2023, after raising
- [Downward Rent Growth Revisions Favor Tenants](https://carnm.realtor/downward-rent-growth-revisions-favor-tenants-2/) - Yardi Matrix says a recession will likely begin in the second half of 2023.
- [The Present Danger of a US Debt Default](https://carnm.realtor/the-present-danger-of-a-us-debt-default/) - It would be a disaster for the entire economy and commercial real estate would not be an exception.
- [What’s Happening With the Yield Curve Is Anything But Straightforward](https://carnm.realtor/whats-happening-with-the-yield-curve-is-anything-but-straightforward/) - Watching experts trying to follow financial markets and explain what their movements mean sometimes seems like people slipping on an icy sidewalk in winter, waving their arms about as they try to maintain their balance. That dynamic came into play last week with reports of a Treasury bond market rally that supposedly began to reduce
- [Why Retailers Will Continue To Open Stores This Year, Despite Economic Fragility](https://carnm.realtor/why-retailers-will-continue-to-open-stores-this-year-despite-economic-fragility/) - Last year was one of the best years for retail real estate. Vacancy rates in Q3 were 4.3%, according to JLL, down from the 6.3% in Q2 reported by The Wall Street Journal as the lowest rate in 15 years, likely driven by high demand for retail space and little new development. Endless brands opened their first
- [Retrofitting buildings essential to reduce energy costs and combat the global energy crisis](https://carnm.realtor/retrofitting-buildings-essential-to-reduce-energy-costs-and-combat-the-global-energy-crisis/) - As businesses grapple with the current energy crisis and prepare for it to worsen, new research from JLL (NYSE: JLL) finds that these rising energy costs are expediting the move toward more efficient buildings. JLL’s Retrofitting Buildings to be Future-Fit research reveals that net-zero carbon (NZC) intervention measures directly impact a building’s bottom line and that failing
- [JLL’s strategic technology services enable future of work and sustainability](https://carnm.realtor/jlls-strategic-technology-services-enable-future-of-work-and-sustainability/) - JLL Technologies (JLLT), the technology division of JLL, today announced the launch of the Strategic Technology Program, which provides assessment, strategic planning, goal setting and performance measurement services for real estate technologies. The launch of the program is in response to increasing demand for technology solutions to help commercial real estate (CRE) managers adhere to sustainable
- [What to Expect From the CRE Finance Markets This Year](https://carnm.realtor/what-to-expect-from-the-cre-finance-markets-this-year/) - Distressed office loans will likely “pile up” into 2023, according to experts from Trepp, who predict there will be billions in unresolved office loans by year-end. “Maturity dates will come and go; loans will reside in CMBS purgatory for months; negotiations will take considerable time; and ultimately many loans will be extended,” says Manus Clancy,
- [Downward Rent Growth Revisions Favor Tenants](https://carnm.realtor/downward-rent-growth-revisions-favor-tenants/) - Yardi Matrix has revised downward its apartment rent forecast for 2023 to 3.1% from 3.5% and expects to see all that growth in the first two to three quarters of the year, according to Andrew Semmes, senior research analyst. However, Semmes said that he’s not at the point where he expects nonseasonal broad-based rent declines.
- [Expect Fed Rates to Exceed 5% in 2023](https://carnm.realtor/expect-fed-rates-to-exceed-5-in-2023/) - A few days into 2023 and it’s time for some bad economic expectations beyond what most have projected. Bankrate’s 2022 Q4 survey of economists has come in with a consensus expectation that the Federal Reserve’s Federal Open Market Committee will take its benchmark interest rates up to between 5.25% and 5.5%. The average number that
- [Industrial Supply Outpaced Demand Again In Q4](https://carnm.realtor/industrial-supply-outpaced-demand-again-in-q4/) - Industrial supply outpaced demand for the second straight quarter in Q4 2022, with overall absorption net absorption down 9.4% quarter over quarter and 15% over 2021′s year to date total, according to new research from Cushman & Wakefield. Meanwhile, vacancy rose by 20 basis points to 3.3% in Q4 as speculative construction completions continue to
- [A New Metric Puts More Pressure on the Office Market](https://carnm.realtor/a-new-metric-puts-more-pressure-on-the-office-market/) - According to CBRE, when it comes to office the king of the metrics for the second year running is utilization: cost per seat, design density and vacancy tied for second place. This comes from CBRE’s analysis, 2022-2023 CBRE Global Workplace & Occupancy Insights, an annual survey of major occupiers worldwide. “This year, 60 organizations participated in the
- [Most Fund Investors Think CRE Assets Are Overvalued](https://carnm.realtor/most-fund-investors-think-cre-assets-are-overvalued/) - Nearly three-fourths of investors believe commercial real estate assets are overvalued, which could mean storm clouds are on the horizon for the sector next year as a recession looms. Preqin’s 2022 November investor survey reveals that 74% of investors believe real estate assets are overvalued, with fund managers saying they expect valuations to fall. Globally,
- [This Year Marked a Turning Point for Multifamily Fundamentals](https://carnm.realtor/this-year-marked-a-turning-point-for-multifamily-fundamentals/) - There’s good news in 2023 for multifamily says a CBRE report. Overall demand should hold steady. But a moderating force of new units is coming online, so don’t expect the results of the previous two years. “It appears 2022 will be a turning point for multifamily fundamentals,” CBRE wrote. “Leasing activity was unseasonably slow in
- [Construction Starts Tumble in November](https://carnm.realtor/construction-starts-tumble-in-november/) - Silver linings are hard to find lately in total construction starts data. According to the Dodge Construction Network, starts overall fell by 18% in November with each nonresidential building starts down 25%, nonbuilding shed 21%, and residential starts dropped 5%. Meanwhile, the National Association of Home Builders’ monthly confidence index fell two points to 31
- [The 'Bad' Retail Sales Report Is More Complicated Than It Sounds](https://carnm.realtor/the-bad-retail-sales-report-is-more-complicated-than-it-sounds/) - For the CRE industry, a lot of retail is up significantly year over year.
- [As Office Values Plunge, Owners Appeal Tax Assessments](https://carnm.realtor/as-office-values-plunge-owners-appeal-tax-assessments/) - Municipalities and school systems that depend on property taxes to fund their budgets may face shortfalls due to the plunge in office values—especially in cities that do annual property assessments—as more and more building owners appeal their assessments. In jurisdictions that reassess property values annually, owner appeals of tax assessments are up by as much
- [Will Investment Sales Recover in 2023?](https://carnm.realtor/will-investment-sales-recover-in-2023/) - Investment volume should bottom in Q1, as eyes focus on Fed Funds rate.
- [The Contradictions of 2022 and Emerging Trends for 2023](https://carnm.realtor/the-contradictions-of-2022-and-emerging-trends-for-2023/) - An annual report on the forces driving the wealth management industry.
- [How Attractive Are Office-to-Apartment Conversions Right Now?](https://carnm.realtor/how-attractive-are-office-to-apartment-conversions-right-now/) - Conversions of obsolete office buildings to multifamily use have been going on for some time
- [Inflation Moderates More, But How Will the Fed React?](https://carnm.realtor/inflation-moderates-more-but-how-will-the-fed-react/) - There was some moderate good news on the inflation front, with seasonally adjusted overall inflation up 0.1% month over month in November. Significantly better than October’s 0.4%. Without seasonal adjustment, the year-over-year view was 7.1%. Slowing inflation is certainly better, although as Nancy Davis, founder of Quadratic Capital Management and portfolio manager of the Quadratic Interest
- [Top Ten CRE Predictions for 2023](https://carnm.realtor/top-ten-cre-predictions-for-2023/) - 2022 has been a tumultuous year for the CRE industry and more volatility is expected in 2023. Below are my Top Ten CRE Predictions for 2023. Short-term interest rates will increase by at least 1.0% The Federal Reserve will continue to increase the federal funds rate even after the latest .50% increase at the Fed
- [As Women in CRE Switch Jobs, The Industry’s Progress in DEI Efforts Faces a Setback](https://carnm.realtor/as-women-in-cre-switch-jobs-the-industrys-progress-in-dei-efforts-faces-a-setback/) - Women across the nation are switching jobs at the highest rate ever witnessed. Women in leadership positions are particularly mobile—and at a higher rate than men in leadership. To put the scale of the problem in perspective: for every woman at the director level who gets promoted to the next level, two women directors are
- [Office Absorption Likely to Significantly Slow In 2023](https://carnm.realtor/office-absorption-likely-to-significantly-slow-in-2023/) - Net office space absorption for 2023 is estimated to clock in at 8.1 million square feet.
- [Rent Control Largely Failed This Year But Expect It to Re-Emerge in 2023](https://carnm.realtor/rent-control-largely-failed-this-year-but-expect-it-to-re-emerge-in-2023/) - With the mid-term elections behind us, it’s a good time to recap the status of rent control across the country. The National Multifamily Housing Council (NMHC) is tracking 23 states that have such proposals or laws in play. NMHC points out that this year, the issue even gained traction at the federal level, with tenant
- [What Online Shopping Could Mean For Smaller Retailers](https://carnm.realtor/what-online-shopping-could-mean-for-smaller-retailers/) - Online holiday sales will likely hit $960 billion. What does that mean for retailers reliant on foot traffic?
- [Prologis Predicts Significant Drop in Warehouse Development](https://carnm.realtor/prologis-predicts-significant-drop-in-warehouse-development/) - Prologis is predicting that U.S. warehouse development starts will drop to a 7-year low, as rent growth exceeds 10%. Starts are already 30% below their peak in Europe and Prologis expects that to continue in the US. The warehouse property owner says the rapid rise in the cost of capital is the culprit and starts will fall
- [Is the Retail Reckoning for Regional Malls at an End?](https://carnm.realtor/is-the-retail-reckoning-for-regional-malls-at-an-end/) - The past few quarters brought an unexpected trend in the U.S. mall sector—operating results reported by some of the nation’s biggest mall owners seemed to show a marked return to normal. For example, for the third quarter of 2022, Simon Property Group, the publicly-traded REIT that owns the nation’s largest mall portfolio, reported that its property
- [Co-Living Sector Transforms as it Faces Pushback from Developers and Lenders](https://carnm.realtor/co-living-sector-transforms-as-it-faces-pushback-from-developers-and-lenders/) - Before the pandemic, co-living seemed to be an up-and-coming investment property type, with appeal to millennials and venture-backed startups abounding. Some developers even claimed that co-living projects delivered better rents per sq. ft. than conventional multifamily properties. But now, nearly three years since the onset of the Covid pandemic, the co-living sector has seen a consolidation
- [Last Year’s Stellar Industrial Numbers Won’t Happen Again But That’s Okay](https://carnm.realtor/last-years-stellar-industrial-numbers-wont-happen-again-but-thats-okay/) - CBRE’s Jame Breeze explained to the audience at GlobeSt.com INDUSTRIAL why the asset class will remain investors' darling for years to come.
- [High Interest Rates and a Looming Recession Weigh on Hotel Investment Deals](https://carnm.realtor/high-interest-rates-and-a-looming-recession-weigh-on-hotel-investment-deals/) - After a surge of activity earlier in the year, many hotel investors are putting their wallets back in their pockets. The disruption has been caused by rising interest rates and the potential for a recession in 2023. Some hotel properties are still trading hands. Some recent nine and 10 figure transactions have made headlines. But
- [Five Years In, Opportunity Zones are Hitting Their Stride](https://carnm.realtor/five-years-in-opportunity-zones-are-hitting-their-stride/) - When the Tax Cuts and Jobs Act of 2017 put in place new tax incentives for investors tied to Opportunity Zones, no one was quite sure how well the new structure would take off. The early days were marked by a frenzy of sponsors jumping into the space—and plenty of critics who were skeptical that
- [One-Third of People Ready to Move Now, Says Study](https://carnm.realtor/one-third-of-people-ready-to-move-now-says-study/) - CBRE undertook a large-scale study of cross-generational attitudes, with surveys of 20,000 people globally, to understand how baby boomers through to Gen-Z will want to live, work, and shop in the future. One of the standout observations is the number of people who want to move, or have, after living through the worst (at least
- [Seniors Housing Construction 'Grinds to Nearly a Complete Stop'](https://carnm.realtor/seniors-housing-construction-grinds-to-nearly-a-complete-stop/) - The seniors housing construction starts “are grinding to nearly a complete stop,” Charles Bissell, Managing Director, JLL Capital Markets, tells GlobeSt.com. Yet at the same time, “demand is on the precipice of a 20+ year spike due to the aging of the baby boomer generation.” For Q3 of 2022, NIC MAP Data Service reports construction
- [How Institutions Are Managing Climate Risk Within Real Estate Investment Portfolios](https://carnm.realtor/how-institutions-are-managing-climate-risk-within-real-estate-investment-portfolios/) - The increasing severity and frequency of climate-related extreme weather events is one of several factors pushing commercial real estate owners and operators to step up efforts to analyze climate risk within portfolios. Institutional investors in particular are feeling growing pressure from investors and ESG mandates, as well as the need to prepare for a proposed SEC
- [Automation vs. Human Advice: Which Will Win Out?](https://carnm.realtor/automation-vs-human-advice-which-will-win-out/) - UBS’ announcement earlier this year of its plans to acquire robo advisor platform Wealthfront and then the subsequent fallout of that deal in September have led to a debate in the wealth management industry about the value of automation and the human advisor. Speaking at the MarketCounsel Summit held this week in Las Vegas, Riskalyze CEO Aaron Klein said he
- [Sales of Cannabis Real Estate Run into Some Challenges](https://carnm.realtor/sales-of-cannabis-real-estate-run-into-some-challenges-2/) - More states are legalizing marijuana. But so far, that hasn’t translated into much greater opportunities for real estate investment.
- [Major Office Distress Is All the Talk. But So Far, it’s Not the Reality.](https://carnm.realtor/major-office-distress-is-all-the-talk-but-so-far-its-not-the-reality/) - Office loan delinquencies and distressed office sales remain subdued, though the sector is facing headwinds.
- [Industrial Tenants Press On Despite Uncertainty](https://carnm.realtor/industrial-tenants-press-on-despite-uncertainty/) - Industrial and logistics occupiers are expected to continue expanding into 2023 despite looming economic uncertainty, according to a new report from CBRE.
- [Smaller Retail Centers In Demand As Market Realigns](https://carnm.realtor/smaller-retail-centers-in-demand-as-market-realigns/) - Absorption for smaller retail center spaces jumped by 20% to 8.1 million square feet in Q3.
- [A mixed-use project in Downtown ABQ is one step closer to reality](https://carnm.realtor/a-mixed-use-project-in-downtown-abq-is-one-step-closer-to-reality/) - A mixed-use project from a city agency and a local development company is one step closer to becoming a reality. The project, called The Downtowner, would bring 207 rental units, 11 live-work units and a café to First Street and Silver Avenue in Downtown Albuquerque, according to the Metropolitan Redevelopment Agency, which is partnering with
- [Sales of Cannabis Real Estate Run into Some Challenges](https://carnm.realtor/sales-of-cannabis-real-estate-run-into-some-challenges/) - More states are legalizing marijuana. But so far, that hasn’t translated into much greater opportunities for real estate investment.
- [Public gives feedback on Albuquerque mayor's sweeping zoning code proposal](https://carnm.realtor/public-gives-feedback-on-albuquerque-mayors-sweeping-zoning-code-proposal/) - Real estate professionals, academics, people who work with low-income and homeless populations, and even residents just interested in keeping elderly relatives close to family voiced support for Albuquerque Mayor Tim Keller's proposal to dramatically change the city's zoning code. But the ideas also drew backlash during a public meeting Thursday. Some homeowners argued the changes
- [Three Ways CFOs are Leveraging Sale-leasebacks to Prepare for a Recession](https://carnm.realtor/three-ways-cfos-are-leveraging-sale-leasebacks-to-prepare-for-a-recession/) - Ways CFOs are using sale-leaseback proceeds to grow their businesses and prepare for an uncertain future
- [Cap Rates Compress For Early Learning Assets](https://carnm.realtor/cap-rates-compress-for-early-learning-assets/) - Cap rates have continued to compress for early education centers in the net lease space during this quarter
- [CARROLL Credit Gets Ready for Multifamily Distress in the Sunbelt](https://carnm.realtor/carroll-credit-gets-ready-for-multifamily-distress-in-the-sunbelt/) - Another day, another set of companies interested in the potential that CRE distress might offer.
- [Rising Inflation and Interest Rates Has CRE Lenders Pumping the Brakes](https://carnm.realtor/rising-inflation-and-interest-rates-has-cre-lenders-pumping-the-brakes/) - After Q2 this year, the Mortgage Bankers Association projected a drop of 18% in commercial and multifamily lending compared to 2021.
- [The Trend is Clear: Multifamily Construction on the Rise](https://carnm.realtor/the-trend-is-clear-multifamily-construction-on-the-rise/) - Housing starts dropped in September below the historical average of 1.5 million homes as both single-family home construction and multifamily apartment building slowed down. Nevertheless, the number of housing units under construction rose to 1.7 million units for the first time ever. While construction delays and supply constraints have lengthened the under-construction time, the record
- [Commercial Real Estate Market May See Slight Decline in Prices in 2023](https://carnm.realtor/commercial-real-estate-market-may-see-slight-decline-in-prices-in-2023/) - While high interest rates may lead to a price decline nationwide, strong job growth will support prices in many markets
- [Multifamily Investors Fight Rising Rates by Pursuing Properties with Assumable Debt](https://carnm.realtor/multifamily-investors-fight-rising-rates-by-pursuing-properties-with-assumable-debt/) - The short-term borrowing rate is at its highest level since January 2008 after the Federal Reserve raised its key rate by another 0.75 points to a target range of 3.75 percent to 4.00 percent. The early November increase throws gasoline on the already-burning desire from multifamily investors for assumable debt. “The greatest risk today in closing
- [More 'Don’t Get Optimistic' Warnings from Fed Officials](https://carnm.realtor/more-dont-get-optimistic-warnings-from-fed-officials/) - What’s worse than having to take a dose of nasty medicine midday? Having people coming in repeatedly during the morning reminding you that the unpleasant mixture is waiting patiently for you. Lately, the nagging monitors have been high-level members of the Fed warning that markets shouldn’t hope for a quick end to tougher interest rates—which means ongoing
- [Industrial Sales Not Immune from Impact of Higher Interest Rates](https://carnm.realtor/industrial-sales-not-immune-from-impact-of-higher-interest-rates-2/) - n the current market environment, are industrial assets holding up just as well?
- [SFR Rent Growth Continues to Decelerate](https://carnm.realtor/sfr-rent-growth-continues-to-decelerate/) - Single-family rentals, a popular part of the residential segment of commercial real estate, continues to feel pressure on rent growth. In its latest SFR index, CoreLogic says that rent growth has decelerated for the fifth month running. “Single-family rents increased 10.2% year over year in September, down from 13.9% in April 2022,” the firm wrote.
- [On Common Ground](https://carnm.realtor/on-common-ground/) - This edition of On Common Ground explores the collection and use of big data in many aspects of community planning and management and end-user experiences — from housing needs assessments to healthy communities, from transportation to the financial impacts of land-use laws, from parks to sustainability and resilience, and ensuring that all residents benefit equally.
- [Q4 Comeback Unlikely for CRE As Recession Fears Mount](https://carnm.realtor/q4-comeback-unlikely-for-cre-as-recession-fears-mount/) - Deal flow slowed and pricing slumped across major commercial real estate asset classes as the third quarter ended — and that’s prompted some experts to wonder if the sector will continue to hew to its historical trend of “fourth quarter comebacks.” Average price increases across major property types slowed to 14% year over year in
- [PPI Shows Some Relief but Reality Is Still Hard for CRE Construction](https://carnm.realtor/ppi-shows-some-relief-but-reality-is-still-hard-for-cre-construction/) - When people discuss the cost of real estate, they might point to lack of inventory, high financing rates, and the desire for owners and investors to make their projects pan out fiscally. But most people from the outside don’t see how big one component, the cost of building, has become. The Producer Price Index for
- [Retail Embracing Rightsizing by Resizing](https://carnm.realtor/retail-embracing-rightsizing-by-resizing/) - The trend of rightsizing by resizing stores is picking up steam. Many retailers are now incorporating small-format stores into their fleets.
- [CRE 'Overpaying' to Send Waste to Landfills](https://carnm.realtor/cre-overpaying-to-send-waste-to-landfills/) - When it comes to diverting waste from commercial real estate, cardboard is “king” and organics represent the greatest opportunity as firms focus on ESG goals, that include waste management. A study be Great Forest Inc., a leader in sustainable waste management consulting, assessed data collected through waste audits at over 100 buildings across the US
- [Industrial Sales Not Immune from Impact of Higher Interest Rates](https://carnm.realtor/industrial-sales-not-immune-from-impact-of-higher-interest-rates/) - All through the pandemic, industrial properties have been among the most desired by commercial real estate investors.
- [CRE Bank Loans: Weaker Demand, Tighter Standards](https://carnm.realtor/cre-bank-loans-weaker-demand-tighter-standards/) - Feeling the market get shaken while some big money gets ready for distressed property fire sales? Wondering how a refi can possibly work when interest rates are multiple percentage points higher than they were months ago and leverage has come stumbling back to earth? Sometimes data from the near past finally catches up to reality of
- [In a Volatile Market, Investors View Early Childhood Education Centers with Greater Interest](https://carnm.realtor/in-a-volatile-market-investors-view-early-childhood-education-centers-with-greater-interest/) - Because they trade at higher cap rates and are viewed as recession-resistant, net lease investors are picking up more early childhood education properties.
- [More Yield Curve Bad News and Questions](https://carnm.realtor/more-yield-curve-bad-news-and-questions/) - Too often when it comes to economics and finance, previous trends—correlations, to be specific, like that between yield curve inversions and eventually recessions—come to be treated as inviolate natural law. That can lead to significant risk and strategic mistakes. When there’s a yield curve inversion, with interest rates on shorter-term bonds being higher than on
- [Capital Timing Helps Construction Overcome Rising Interest Rates](https://carnm.realtor/capital-timing-helps-construction-overcome-rising-interest-rates/) - Construction starts underway with capital arranged at rates lower than today.
- [Forecasting the Future of Warehouse Demand](https://carnm.realtor/forecasting-the-future-of-warehouse-demand/) - Transwestern released its analysis of a decade of warehouse demand and then trying to understand its future. A story of a decade comes out immediately in a succinct summation: “Since the end of the Global Financial Crisis in 2009, industrial real estate has been the most consistent asset class, due largely to the growth of e-commerce. Occupancy
- [Are Tech Companies Still Good Tenants?](https://carnm.realtor/are-tech-companies-still-good-tenants/) - The news out of Facebook-parent Meta Platforms on Wednesday was great for the stock and terrible for a lot of employees. CEO Mark Zuckerberg told the latter that the company would lay off 13% of the staff, or more than 11,000. The point: Meta has spent a lot of money, even by Silicon Valley standards,
- [‘Future-Proofing’ Corporate Real Estate](https://carnm.realtor/future-proofing-corporate-real-estate/) - Corporations need to consider how to employ real estate to create new value in a changing world.
- [November 2022 CCIM Deal Making Session Properties](https://carnm.realtor/november-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the November 2022 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous.
- [November 2022 LIN Properties](https://carnm.realtor/november-2022-lin-properties/) - At the November 2022 LIN Meeting, 12 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the properties here. View the Thank Yous here.
- [Many Deals Pause But Cash Is a Great Motivator](https://carnm.realtor/many-deals-pause-but-cash-is-a-great-motivator/) - That commercial real estate transactions slowed in the third quarter of this year shouldn’t surprise. Costs went up as the Fed turned the screws to baseline interest rates and commercial financing did so as well. But buyers with cash still did deals, according to Crexi, in its quarterly national trends report. The company says that
- [The Once Red-Hot Life Sciences Sector Returns to “Normalcy”](https://carnm.realtor/the-once-red-hot-life-sciences-sector-returns-to-normalcy/) - As the U.S. commercial real estate market adapts to rising interest rates and a less certain outlook for the economy, the life sciences sector remains a strong performer.
- [CRE Lenders Search for Creative Solutions to Keep Capital Flowing](https://carnm.realtor/cre-lenders-search-for-creative-solutions-to-keep-capital-flowing/) - On the heels of yanother Fed rate hike, the commercial real estate industry is feeling the painful effects of both higher capital costs and lower loan amounts.
- [It’s Good To Be The King: All-Cash Buyers Are Last Bidder Standing In Crumbling Market](https://carnm.realtor/its-good-to-be-the-king-all-cash-buyers-are-last-bidder-standing-in-crumbling-market/) - With the Federal Reserve raising interest rates again on Wednesday, the debt-laden deals that whipped the commercial real estate sales market into a record-setting frenzy last year have all but disappeared. Overall investment sales transactions are down by half year-over-year, but for sellers who need an exit, they increasingly have one place to turn: all-cash buyers. Sovereign wealth funds, international fund managers
- [Why Multifamily Investments Are a Good Option When Inflation Runs Wild](https://carnm.realtor/why-multifamily-investments-are-a-good-option-when-inflation-runs-wild/) - With stubborn inflation, investment triggers feel harder to pull in 2022. Multifamily real estate is a strong option.
- [U.S. Port Markets See Outsized Industrial Rent Growth, Dwindling Availability](https://carnm.realtor/u-s-port-markets-see-outsized-industrial-rent-growth-dwindling-availability/) - An extraordinary amount of new supply held down industrial rent growth nationally over the last year.
- [ABQ commercial real estate market ‘all over the place'](https://carnm.realtor/abq-commercial-real-estate-market-all-over-the-place/) - Finding affordable space is becoming more difficult around Albuquerque.
- [Cell Phone Towers Log Solid Returns as an Alternative Real Estate Investment](https://carnm.realtor/cell-phone-towers-log-solid-returns-as-an-alternative-real-estate-investment/) - While the core commercial real estate sectors including industrial and multifamily have garnered the attention of many investors, smaller asset types, such as, cell phone towers have flown under the radar screen despite logging a solid track record in their own right. Fewer real estate investors play in this space, but sellers of cell phone
- [The Unintended Consequences of Excessive Transfer Taxes](https://carnm.realtor/the-unintended-consequences-of-excessive-transfer-taxes-2/) - Find out about the negative economic consequences of real estate transfer taxes for both residential and nonresidential real estate from a June 2022 study by Sage Policy Group partially funded by NAR. It provides a detailed discussion of the negative consequences of this regressive tax for incomes, transactions, investments, valuations and homeownership. Questions? Please contact
- [Short-Term Office Leasing Decisions Can Extend for Only So Long](https://carnm.realtor/short-term-office-leasing-decisions-can-extend-for-only-so-long/) - Market activity is improving as companies can no longer delay their decisions.
- [Demand for Industrial Space Is Slowing Down. But It’s Still a Landlord’s Market.](https://carnm.realtor/demand-for-industrial-space-is-slowing-down-but-its-still-a-landlords-market-2/) - There are worries that consumer spending is going to falter and impact industrial owners’ ability to raise rents.
- [Why You Shouldn’t Focus Too Much on the Inverted Yield Curve](https://carnm.realtor/why-you-shouldnt-focus-too-much-on-the-inverted-yield-curve/) - The three-month/10-Year Treasury yield curve has inverted, with the three-month Treasury closing last Tuesday at 4.14% and the 10-year closing at 4.10%.
- [Can Rising Rents or Property Growth Make Negative Leverage Worthwhile?](https://carnm.realtor/can-rising-rents-or-property-growth-make-negative-leverage-worthwhile/) - It’s been decades since negative leverage was a regular unwelcome guest in commercial real estate. Now it’s a trend again.
- [Demand for Industrial Space Is Slowing Down. But It’s Still a Landlord’s Market.](https://carnm.realtor/demand-for-industrial-space-is-slowing-down-but-its-still-a-landlords-market/) - At the moment, industrial real estate fundamentals remain strong and rental rates continue to rise, especially in key coastal markets
- [NAIOP Survey Says Sharp Increase in Cap Rates Among Many Headwinds](https://carnm.realtor/naiop-survey-says-sharp-increase-in-cap-rates-among-many-headwinds/) - NAIOP echos what many are seeing ahead for commercial real estate: tougher times ahead.
- [Congress Had a Great Idea That It Absolutely Won’t Pass This Session](https://carnm.realtor/congress-had-a-great-idea-that-it-absolutely-wont-pass-this-session/) - In the annals of wishful thoughts of what could have been, the National Multifamily Housing Council brought up a bill filed in the House and Senate last year, which is likely out of time. Known as S.2511 in the Senate and H.4759 in the House, the Revitalizing Downtowns Act was introduced by Sen. Debbie Stabenow (D-MI) and Rep. Jimmy Gomez (D-CA)
- [Renters Hit Breaking Point in a Sudden Reversal for Landlords](https://carnm.realtor/renters-hit-breaking-point-in-a-sudden-reversal-for-landlords/) - Rent gains are finally starting to slow in many parts of the US, cooling a years-long boom that sapped affordability from coast to coast.
- [Three Ways Supply Chain Disruptions are Impacting the Commercial Real Estate Market](https://carnm.realtor/three-ways-supply-chain-disruptions-are-impacting-the-commercial-real-estate-market/) - Rising demand for warehouse space, re-shoring and last-mile logistics among the biggest trends
- [Office Sales Volume Declining In-Step with Interest Rate Hikes](https://carnm.realtor/office-sales-volume-declining-in-step-with-interest-rate-hikes/) - Office sales trend down as investors confront rising cost of capital, fears of recession and lackluster leasing trends
- [High Interest Rates Won’t Break the Bank for Apartment Investors](https://carnm.realtor/high-interest-rates-wont-break-the-bank-for-apartment-investors/) - Don’t expect rising interest rates to break the bank for many apartment investors
- [Medical Office Deals Slow Down as Rising Rates Reset Price Expectations](https://carnm.realtor/medical-office-deals-slow-down-as-rising-rates-reset-price-expectations-3/) - Rising interest rates and the threat of an economic downturn have slowed real estate investment sales across the board, including in the medical office sector.
- [Existing Industrial Outdoor Storage Highly Sought](https://carnm.realtor/existing-industrial-outdoor-storage-highly-sought/) - Restrictions has confined many developers to traditional industrial properties, suppressing additional supply.
- [Department of Labor Proposed Rule Takes Aim at Independent Contractors](https://carnm.realtor/department-of-labor-proposed-rule-takes-aim-at-independent-contractors/) - The Department of Labor released a long-expected proposed rule that attempts to more clearly define the characteristic and status of independent contractors
- [October 2022 LIN Properties](https://carnm.realtor/october-2022-lin-properties/) - At the October 2022 LIN Meeting, 11 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the properties here. View the Thank Yous here.
- [October 2022 CCIM Deal Making Session Properties](https://carnm.realtor/october-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the October 2022 CCIM NM Deal Making Session & Forum and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous. Name Property, City Type Price 1. Alex Pulliam Riley McKee NWQ 90th & Bluewater
- [October 2022 Commercial Market Insights](https://carnm.realtor/october-2022-commercial-market-insights/) - After the strong rebound for the U.S. economy in 2021, growth in 2022 has slowed in the face of rising inflation, the household incomes squeeze, and geopolitical events. While the economy continues to deal with elevated inflation, there is a slowdown in the growth of commercial real estate. Multifamily and industrial properties were the leading sectors in 2022.
- [CRE Investors Brace Themselves for More Inflation and Then Recession](https://carnm.realtor/cre-investors-brace-themselves-for-more-inflation-and-then-recession/) - It’s been a long, strange trip since the earlier part of 2022, according to new survey research out from Lightbox. From a relatively rosy outlook on the markets months ago, things have taken a turn in keeping with changing clocks and in plunging into a land short on natural light. Yes, the immediate future is
- [Medical Office Deals Slow Down as Rising Rates Reset Price Expectations](https://carnm.realtor/medical-office-deals-slow-down-as-rising-rates-reset-price-expectations-2/) - Rising interest rates and the threat of an economic downturn have slowed real estate investment sales across the board, including in the medical office sector.
- [Significant Declines in CRE Sales Volumes Hit in August](https://carnm.realtor/significant-declines-in-cre-sales-volumes-hit-in-august/) - If anyone wondered if and when the run on commercial real estate sales would top off, the answers are “yes” and “August.” Colliers, working with that month’s data from Real Capital Analytics, said, “Meaningful declines in sales volume are now apparent in reported transaction data.” Overall, deal volumes are down year-over-year by 41%. Starting with
- [Medical Office Deals Slow Down as Rising Rates Reset Price Expectations](https://carnm.realtor/medical-office-deals-slow-down-as-rising-rates-reset-price-expectations/) - Rising interest rates and the threat of an economic downturn have slowed real estate investment sales across the board, including in the medical office sector.
- [OFFICE DISRUPTION: OVER A THIRD OF OCCUPIERS CONSIDER COWORKING FOR IN-OFFICE WORK](https://carnm.realtor/office-disruption-over-a-third-of-occupiers-consider-coworking-for-in-office-work/) - Vacancy rates at record levels in the US confirm that office tenants have preferred remote and hybrid working arrangements since the beginning of the pandemic.
- [Logistics in the spotlight of industrial real estate as eCommerce grows](https://carnm.realtor/logistics-in-the-spotlight-of-industrial-real-estate-as-ecommerce-grows/) - As eCommerce has rapidly grown in the space of a few years, its corresponding effect has been a booming industrial real estate market.
- [Multifamily Developers Turn Some Dead Office Space into Apartments](https://carnm.realtor/multifamily-developers-turn-some-dead-office-space-into-apartments-2/) - Office-to-multifamily conversions have ticked up lately. But redevelopments remain difficult to represent a small percentage of the apartment pipeline.
- [This CRE Analyst Says the Fed is Oversteering](https://carnm.realtor/this-cre-analyst-says-the-fed-is-oversteering/) - The probability of a recession is rising as the Fed appears poised to initiate further rate hikes by year's end.
- [New Apartment Construction is Booming in Albuquerque, NM](https://carnm.realtor/new-apartment-construction-is-booming-in-albuquerque-nm/) - The U.S. faces a severe – and worsening – housing crunch. The country is short around 3.8 million housing units to meet demand, according to estimates from Up For Growth, a research organization focused on housing affordability and production. That’s more than double the 1.7 million unit shortfall reported in 2012. One potential solution is
- [Rent Control Heats Up Amid Challenges From Industry](https://carnm.realtor/rent-control-heats-up-amid-challenges-from-industry/) - Multifamily leaders weigh in on local legislation and ballot measures that have nationwide implications. Kingston, N.Y., a picturesque town on the Hudson River 90 miles north of New York City, could be a sign of challenges ahead for the multifamily industry. In August, Kingston became the first city in upstate New York to adopt rent
- [Where CRE Is Beginning to Lag](https://carnm.realtor/where-cre-is-beginning-to-lag/) - Demand and rent growth for apartments slowed in the third quarter, in a sign of a potential overall slowdown for commercial real estate
- [Malls Can Still 'Change' In Time for the Holidays](https://carnm.realtor/malls-can-still-change-in-time-for-the-holidays/) - Visits were "up" last month, according to Placer.ai, "a good sign as the holiday season approaches."
- [In Challenging Times, Do the Right Checks on Your Tenants](https://carnm.realtor/in-challenging-times-do-the-right-checks-on-your-tenants/) - Credit checks aren’t enough. The risks are much broader.
- [Time Is Fleeting: Lending Approval Explained](https://carnm.realtor/time-is-fleeting-lending-approval-explained/) - Same-day approval! Get fast funding! Approval in hours! Not so fast; here's what's actually involved.
- [Amazon Underwriting ‘Outbidding the Whole Market’ for Industrial](https://carnm.realtor/amazon-underwriting-outbidding-the-whole-market-for-industrial/) - When tenants lose out on a space, the landlord “can usually show them that the competitor had the higher rate.”
- [Big Box Market Booms Despite Economic Headwinds](https://carnm.realtor/big-box-market-booms-despite-economic-headwinds/) - "The industrial sector firmly remains in the number two slot behind multifamily for total share of total deal activity."
- [What Could You Create?](https://carnm.realtor/what-could-you-create/) - Commercial brokers bring their imagination and market savvy to bear in finding new uses for existing buildings.
- [The Co-Working Sector Is Set for a Major Boost. But There Will Still Be Growing Pains.](https://carnm.realtor/the-co-working-sector-is-set-for-a-major-boost-but-there-will-still-be-growing-pains/) - Major co-working operators are reporting pre-pandemic occupancy rates, as more companies are investing in flex office space.
- [Multifamily Developers Turn Some Dead Office Space into Apartments](https://carnm.realtor/multifamily-developers-turn-some-dead-office-space-into-apartments/) - Difficult floorplates, zoning regulations and expensive redevelopment costs all make it difficult for a wider push of office-to-multifamily conversions.
- [High Interest Rates Are Slowing Down Self Storage Dealmakers](https://carnm.realtor/high-interest-rates-are-slowing-down-self-storage-dealmakers-2/) - Higher interest rates and debt costs have contributed to a slowdown in investment sales activity in the sector.
- [How COVID-19 Changed Retailers’ Site Selection Strategies](https://carnm.realtor/how-covid-19-changed-retailers-site-selection-strategies/) - In our post-COVID era, a new trend is emerging in retail that is changing how these businesses operate. Retail stores that have traditionally only been seen in shopping malls are now moving out and finding new opportunities to establish standalone storefronts, and vice versa. There are a few reasons this is happening: COVID brought on a
- [Some Landlords Hitting Pause On Sustainability Projects As Costs Skyrocket](https://carnm.realtor/some-landlords-hitting-pause-on-sustainability-projects-as-costs-skyrocket/) - An increasingly tough financial environment is starting to crush property owners’ willingness to spend on environmental compliance and green improvements.
- [Industrial Landlords, Tenants 'Jousting' Over Asking Rents vs. Taking Rents](https://carnm.realtor/industrial-landlords-tenants-jousting-over-asking-rents-vs-taking-rents/) - Landlords have upper hand, and owners of existing space are currently more lucky than good.
- [How Much Hurricane Ian Disrupted the Supply Chain](https://carnm.realtor/how-much-hurricane-ian-disrupted-the-supply-chain/) - With property damage from Hurricane Ian currently estimated at $60 billion, it will likely be second only to Hurricane Katrina as the most destructive storm in U.S. history.
- [US Office Sector in 'Uncharted Territory' as Future of Work Remains Unclear](https://carnm.realtor/us-office-sector-in-uncharted-territory-as-future-of-work-remains-unclear/) - The US office sector is in “uncharted territory,” according to a sector report from Colliers, as debate rages on about the future and importance of physical office space to companies and employees alike. “The office sector is facing a set of challenges that could result in significant structural shifts over the years ahead,” the report
- [Why the Once-Routine 'Design, Bid, Build' Process is So Out of Whack](https://carnm.realtor/why-the-once-routine-design-bid-build-process-is-so-out-of-whack/) - Trying to determine and act on the next construction material that reaches high-scarcity levels is confounding the construction industry, according to a new Construction Outlook report from JLL. “Volatility around materials is hitting developer’s wallets at a higher rate than initially anticipated earlier this year,” according to the report. JLL said it expects materials prices
- [It May Start to Look Different but Hybrid Work Is Here to Stay](https://carnm.realtor/it-may-start-to-look-different-but-hybrid-work-is-here-to-stay/) - Hybrid work may be here to stay, but it’s taking on a different form than many originally imagined at the onset of COVID-19.
- [Fannie Mae Announces Rent Reporting Help for Property Owners](https://carnm.realtor/fannie-mae-announces-rent-reporting-help-for-property-owners/) - The company says it will help boost credit scores for renters.
- [How Façade Ordinances Help Protect Aging Building Infrastructure](https://carnm.realtor/how-facade-ordinances-help-protect-aging-building-infrastructure/) - Facade assessments are increasingly crucial for public safety. Here’s how to plan and budget effectively.
- [Net Lease Retail Valuations Finally Cracking Under Interest Rate Pressure](https://carnm.realtor/net-lease-retail-valuations-finally-cracking-under-interest-rate-pressure/) - After a prolonged period of stability, interest rate hikes are finally making a ripple in the net lease retail market. “Transaction velocity has not slowed nearly as much as we might have expected given the quick and steep rise in interest rates,” says BJ Feller, managing director & partner in Stan Johnson Co.’s Chicago office. During
- [High Interest Rates Are Slowing Down Self Storage Dealmakers](https://carnm.realtor/high-interest-rates-are-slowing-down-self-storage-dealmakers/) - Despite record-high rents and strong demand, higher interest rates and debt costs have contributed to a slowdown in investment sales activity.
- [How Are CRE Lenders Responding to the Fed’s New Loan Workout Recommendations?](https://carnm.realtor/how-are-cre-lenders-responding-to-the-feds-new-loan-workout-recommendations/) - Incorporating lessons learned from providing relief to financial institutions during the Great Financial Crisis, the Board of Governors of the Federal Reserve, the Office of the Comptroller of the Currency, FDIC and the National Credit Union Administration developed a statement on proposed policy for commercial real estate loan accommodations and workouts recently that seeks to help borrowers
- [Here Comes The Wrong Kind Of Inflation, And It Could Destroy Real Estate Values](https://carnm.realtor/here-comes-the-wrong-kind-of-inflation-and-it-could-destroy-real-estate-values/) - Transitory inflation has grabbed the headlines. This kind is caused by sudden supply constraints and the price spikes they produce.
- [Leading Economist Says, 'We’re in an Emotional Recession'](https://carnm.realtor/leading-economist-says-were-in-an-emotional-recession/) - Today’s economy as an “emotional recession” because so much focus by consumers is on gasoline prices.
- [Warehouses Filled to Capacity Are the New Normal](https://carnm.realtor/warehouses-filled-to-capacity-are-the-new-normal/) - Landlords and occupiers are adjusting their strategies as they get used to demand outpacing supply.
- [Some Leisure’s Been Doing Well, but How Long Can It Last?](https://carnm.realtor/some-leisures-been-doing-well-but-how-long-can-it-last/) - Green Street expects business travel, more often found in urban markets, to see a 5% to 10% secular demand impact compared to pre-Covid.
- [Aging US Warehouses Are Driving Record Development](https://carnm.realtor/aging-us-warehouses-are-driving-record-development/) - New facilities are being built at record levels to satisfy changing distribution strategies.
- [September 2022 LIN Properties](https://carnm.realtor/september-2022-lin-properties/) - At the September 2022 LIN Meeting, 2 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the properties here. View the Thank Yous here.
- [September 2022 CCIM Deal Making Session Properties](https://carnm.realtor/september-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the September 2022 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous. Name Property, City Type Price 1. Dave Hill, CCIM, SIOR DJ Brigman 820 Main St. NE
- [Consumer Necessities Inflation Have Implications for CRE](https://carnm.realtor/consumer-necessities-inflation-have-implications-for-cre/) - The official consumer price index (CPI) came out last week, it was an unpleasant surprise to many economists.
- [Apartment Rents Are Growing Faster in Low-Cost Cities](https://carnm.realtor/apartment-rents-are-growing-faster-in-low-cost-cities/) - According to a new analysis from Apartment List, prices are rising faster in cities previously deemed “low-cost.”
- [Family Offices Turn Focus Away from Office Towers and Toward Industrial](https://carnm.realtor/family-offices-turn-focus-away-from-office-towers-and-toward-industrial/) - Recent U.S. acquisitions by Amancio Ortega’s Pontegadea are representative of a broader shift in family office investment preferences.
- [The Heat Is Off? Recession-Related Valuation Drops Could Douse Overheated Markets](https://carnm.realtor/the-heat-is-off-recession-related-valuation-drops-could-douse-overheated-markets/) - Property owners across the U.S. are preparing for the drop in property values that tends to accompany economic downturns
- [How Technology Automates And Empowers Facilities Management Strategy](https://carnm.realtor/how-technology-automates-and-empowers-facilities-management-strategy/) - Opportunity to advance the physical, mental and social wellbeing of building occupants, and to ultimately drive down lifecycle costs.
- [Even the Next Recession Won't Send Employees Back to the Office](https://carnm.realtor/even-the-next-recession-wont-send-employees-back-to-the-office/) - By the beginning of 2021, live and leisure activities like sporting events and concerts were going back to normal — but office attendance still lagged. And that begs the question: will office usage ever return to normal? “The big movement toward working from home was started by the pandemic, but at this point, it would
- [Grocery-Anchored Shopping Centers Remain in Demand. But They Are Going Mostly to Private and All-Cash Buyers.](https://carnm.realtor/grocery-anchored-shopping-centers-remain-in-demand-but-they-are-going-mostly-to-private-and-all-cash-buyers/) - The era of aggressive outlier bids for grocery-anchored shopping centers is over as capital costs rise.
- [Gen X Is Using Self-Storage the Most As Sector Booms](https://carnm.realtor/gen-x-is-using-self-storage-the-most-as-sector-booms/) - Gen Xers are using the most self-storage of any demographic, according to a recent RentCafe analysis of 4,200 renters.
- [How Six CRE Firms Are Investing in a Changing Environment](https://carnm.realtor/how-six-cre-firms-are-investing-in-a-changing-environment/) - Investors have had to respond by sometimes changing their investment targets and their deal structures, as well as their equity-raising strategies.
- [Advisors Take on Alternatives](https://carnm.realtor/advisors-take-on-alternatives/) - Asset managers and technology firms are luring retail advisors into alts with easier access and promises of diversification and enhanced returns.
- [Space Planning Pros Lack Necessary Data to Configure Post-Pandemic](https://carnm.realtor/space-planning-pros-lack-necessary-data-to-configure-post-pandemic/) - Space planning professionals are struggling with managing work and learning spaces in more fluid, hybrid-use environments coming out of the pandemic.
- [Smart Warehouses And The Laborers That Can Run Them](https://carnm.realtor/smart-warehouses-and-the-laborers-that-can-run-them/) - The key to those properties and operations are the robotics inside the facilities,” Peter Lewis, founder and chairman of Wharton Industrial.
- [Here's What CRE Investors Are Thinking As Inflation Ticks Up](https://carnm.realtor/heres-what-cre-investors-are-thinking-as-inflation-ticks-up/) - While CRE transactions may level out this year, investor sentiment remains strong.
- [Will “Just-in-Case” Inventory Storage Survive the Current Moment?](https://carnm.realtor/will-just-in-case-inventory-storage-survive-the-current-moment/) - Inventory storage is leaving retailers with excess inventory and little space to store it.
- [Self-Storage On Track For Strong 2022, But Headwinds Remain](https://carnm.realtor/self-storage-on-track-for-strong-2022-but-headwinds-remain/) - Self-storage is still enjoying a strong year despite increasing headwinds overall including normalizing social behaviors and demand drivers.
- [Building Contractors Facing Colossal Hiring Crisis](https://carnm.realtor/building-contractors-facing-colossal-hiring-crisis/) - ontractors have positions to fill and 91 percent are having a hard time finding workers
- [Institutions Have Shifted to Multifamily, Industrial and Data Centers in Their Real Estate Allocations](https://carnm.realtor/institutions-have-shifted-to-multifamily-industrial-and-data-centers-in-their-real-estate-allocations-2/) - Survey results show that institutions are most likely to prefer investing in multifamily and industrial, followed by data centers.
- [Middle-Income Seniors Will Find It Hard to Pay for Housing by 2033](https://carnm.realtor/middle-income-seniors-will-find-it-hard-to-pay-for-housing-by-2033/) - Financial and social reasons could mean that more than 11 million middle-income seniors aged 75 and older may not be able to pay for assisted living
- [What Impact Are Construction Delays Having on the Industrial Sector?](https://carnm.realtor/what-impact-are-construction-delays-having-on-the-industrial-sector/) - The industrial development pipeline is at its highest level in years. But developers are facing a host of new challenges.
- [The Unintended Consequences of Excessive Transfer Taxes](https://carnm.realtor/the-unintended-consequences-of-excessive-transfer-taxes/) - Excessive transfer tax rates can frustrate the exchange of property that is often required to return to commercial viability.
- [August CCIM NM Properties](https://carnm.realtor/august-ccim-nm-properties-2/) - Thanks to all of the brokers, sponsors, and guests who attended the August 2017 CCIM NM Deal Making Session & Forum and to those who shared the August 2017 CCIM NM Properties. Over 3 million dollars of commercial real estate properties available for sale were presented from all over New Mexico. Click here to view
- [ESG Requirements Forcing Change](https://carnm.realtor/esg-requirements-forcing-change/) - In the real estate industry, ESG risk assessment and mitigation initiatives are becoming essential components of real estate investment.
- [Cannabis Licenses to 1,000 in New Mexico](https://carnm.realtor/cannabis-licenses-to-1000-in-new-mexico/) - The state has hit a milestone in the approval and issuing of cannabis licenses, surpassing 1,000 since the Cannabis Control Division began issuing them
- [Cybersecurity Interruptions](https://carnm.realtor/cybersecurity-interruptions/) - We are in a new era of cybersecurity risks in commercial real estate, driven by decades of technological advances that impact all buildings
- [Three Reasons Advisors Should Care About Water Resources](https://carnm.realtor/three-reasons-advisors-should-care-about-water-resources/) - Water is essential for the cultivation and production of raw materials, the manufacturing process, and the distribution of products.
- [Institutions Have Shifted to Multifamily, Industrial and Data Centers in Their Real Estate Allocations](https://carnm.realtor/institutions-have-shifted-to-multifamily-industrial-and-data-centers-in-their-real-estate-allocations/) - Since the GFC, multifamily and industrial have had tremendous demographic tailwinds, and COVID added after-burners
- [What To Expect for CRE Valuations If a Mild Recession Hits This Year](https://carnm.realtor/what-to-expect-for-cre-valuations-if-a-mild-recession-hits-this-year/) - C&W pegs the possibility for a mild recession at 50%, but high-quality office, certain retail and multifamily will remain good bets.
- [Where Do U.S. Property Values Go From Here?](https://carnm.realtor/where-do-u-s-property-values-go-from-here/) - Economic prospects have worsened, and the outlook is becoming increasingly uncertain. Numerous headwinds have emerged–rising inflation, persistent labor shortages, continued supply-chain challenges, the war in Ukraine and risks of a Fed policy mistake. The economic outlook for 2022 and 2023 have been revised down sharply and recession risks are rising fast. View the full presentation
- [2022 Q2 National Industrial Report](https://carnm.realtor/2022-q2-national-industrial-report/) - The U.S. industrial sector continued to show its strength, posting favorable fundamentals through midyear.
- [Multifamily Investors Adjust to Tightening Capital Markets](https://carnm.realtor/multifamily-investors-adjust-to-tightening-capital-markets/) - Rising interest rates and the overall state of capital markets are top of mind for respondents in WMRE’s ninth annual multifamily research report.
- [Flex Spaces for Startups: An Office Environment without the Commitment](https://carnm.realtor/flex-spaces-for-startups-an-office-environment-without-the-commitment/) - Flex space challenges the idea of traditional commercial offices, which typically require signing long-term leases.
- [The Surge in Re-Shoring Activity Continues, Creating More Demand for Industrial Space](https://carnm.realtor/the-surge-in-re-shoring-activity-continues-creating-more-demand-for-industrial-space/) - Over 1,800 companies re-shored production in 2021, setting a new record for re-shoring activity
- [Office Asking Rates Haven't Changed But It's Definitely Become a Tenants' Market](https://carnm.realtor/office-asking-rates-havent-changed-but-its-definitely-become-a-tenants-market/) - Interesting and unique factors and conditions have firmly made it a tenants’ market right now.
- [What Are the Safest Property Bets Today for Levered CRE Buyers?](https://carnm.realtor/what-are-the-safest-property-bets-today-for-levered-cre-buyers/) - As interest rates rise and the outlook for the economy at large remains uncertain, CRE investors who depend on debt have had to reassess their strategies.
- [Labor Shortage Strain: Where Have All the Workers Gone?](https://carnm.realtor/labor-shortage-strain-where-have-all-the-workers-gone/) - The number of unemployed workers quadrupled during the recession but is now under six million, on par with the level on the eve of the pandemic.
- [Supply Chain Disruption](https://carnm.realtor/supply-chain-disruption-2/) - Delayed supply chain concerns are an unknown factor for developers, who are adding several months to their schedules.
- [Is Dry Powder in the CRE Space Ready to Move Off the Sidelines?](https://carnm.realtor/is-dry-powder-in-the-cre-space-ready-to-move-off-the-sidelines/) - Funds and REITs that built up massive war chests are taking steps to make deals despite current uncertainties over optimal real estate pricing. Many well-heeled real estate investors pushed pause on buying assets in recent months to get a better read on how pricing is shifting across all property types and how they might have to alter strategies or
- [How CRE Investors Can Still Create Value in a Rising Rate Environment](https://carnm.realtor/how-cre-investors-can-still-create-value-in-a-rising-rate-environment/) - Repositioning, management, and knowledge are the three critical ways in which CRE investors can drive value in assets
- [Momentum Strong Enough to Overcome CRE Uncertainty, Says PwC](https://carnm.realtor/momentum-strong-enough-to-overcome-cre-uncertainty-says-pwc/) - PwC reported that asset-, portfolio- and entity-level transactions in the first quarter of 2022 exceeded the same period in 2021.
- [Should CRE Plan for Permanently High Inflation?](https://carnm.realtor/should-cre-plan-for-permanently-high-inflation/) - If you think high inflation is a temporary thing and the world will be back to pre-pandemic normal, you’re at odds with some of the world biggest bond investors
- [August 2022 LIN Properties](https://carnm.realtor/august-2022-lin-properties/) - At the August 2022 LIN Meeting, 12 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the August 2022 LIN properties here. View the August 2022 LIN Thank Yous here.
- [August 2022 CCIM Deal Making Session Properties](https://carnm.realtor/august-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the August 2022 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous. Name Property, City Type Price 1. Dave Hill, CCIM, SIOR DJ Brigman 1001 Menaul Blvd. NE
- [2022 New Mexico Federal Economic Area Report](https://carnm.realtor/2022-new-mexico-federal-economic-area-report/) - This report offers real estate professionals a window into demographics and consumer behavior in the state of New Mexico.
- [Entire US Supply Chain Needs 24/7 Operations, Not Just Ports, Official Says](https://carnm.realtor/entire-us-supply-chain-needs-24-7-operations-not-just-ports-official-says/) - All parts of the US supply chain -- not just its ports -- need to move to round-the-clock operations to alleviate snarl-ups
- [Stagflation Could Drive Lower CRE Valuations](https://carnm.realtor/stagflation-could-drive-lower-cre-valuations/) - Analysts from Fitch Ratings say stagflation is likely to lead to lower CRE valuations and a “prolonged period” of elevated cap rates.
- [How Hybrid Workplaces Put Employers At Risk](https://carnm.realtor/how-hybrid-workplaces-put-employers-at-risk/) - Employers are responsible for the safety of employees, whether they work in the office or at home. The COVID-19 pandemic accelerated the adoption of the hybrid workplace. However, with this acceptance comes more threats, liabilities and legal exposure for all employers regarding the life safety of their employees. In his session at NFMT Remix, Bo Mitchell,
- [Increased Cost of Capital Forces a Reset of Multifamily Valuations](https://carnm.realtor/increased-cost-of-capital-forces-a-reset-of-multifamily-valuations/) - Buyers are beginning to ask for discounts and some deals fall through. But experts say the disturbance in the sector is based on “short-term uncertainty.” In early June, two days before the Federal Open Market Committee increased the Federal Funds Rate by 75 basis points, Odyssey Properties Group struck a deal to buy a multifamily
- [Most CRE Pros Believe Office Sector Has More Distress Ahead](https://carnm.realtor/most-cre-pros-believe-office-sector-has-more-distress-ahead/) - A whopping 70% of CRE professionals recently surveyed by Trepp say they think the office sector will see the biggest uptick in distress for the remainder of the year
- [Rent Growth Diverging Across Office and Multifamily](https://carnm.realtor/rent-growth-diverging-across-office-and-multifamily/) - Rent growth across the office and multifamily sectors is no longer in lockstep, disrupting a lengthy period in which the sectors typically followed the same trend
- [REITs Deliver All-Time Highs in NOI, FFO in Q2](https://carnm.realtor/reits-deliver-all-time-highs-in-noi-ffo-in-q2/) - Occupancy rates of total REIT-owned properties reached and exceeded pre-pandemic levels for the first time in Q2 2022 and funds from operations (FFO) were never higher
- [Cap Rates Equalizing Across Metros](https://carnm.realtor/cap-rates-equalizing-across-metros/) - Cap rates across major US markets are becoming increasingly similar, even in cities like San Francisco and New York
- [Recession: Will It or Won’t It?](https://carnm.realtor/recession-will-it-or-wont-it/) - There absolutely is not a recession yet,” came from some quarters, while others noted that, no way to know yet, but maybe one has already started.
- [Big Construction Starts Gain in Many Top Metros](https://carnm.realtor/big-construction-starts-gain-in-many-top-metros/) - During the first six months of the year, the value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. increased 24%
- [Asynchronous Work Poses Another Challenge to the Office Market](https://carnm.realtor/asynchronous-work-poses-another-challenge-to-the-office-market/) - There are other aspects of asynchronous work that distinguishes it from hybrid offices and, of course, traditional 9-to-5, commute-to-the-office work.
- [Some Institutional Investors Are Pulling Out of the Industrial Sector. Here’s Why.](https://carnm.realtor/some-institutional-investors-are-pulling-out-of-the-industrial-sector-heres-why/) - The pandemic caused many institutional investors to switch their focus to industrial properties.
- [CRE on the Chopping Block Among Companies Worried About Inflation](https://carnm.realtor/cre-on-the-chopping-block-among-companies-worried-about-inflation/) - There are economists who insist that the US is not yet in a recession and economists who say it is, or at least will be soon.
- [How Mortgage Rate Increases Are Affecting Commercial Real Estate Investment](https://carnm.realtor/how-mortgage-rate-increases-are-affecting-commercial-real-estate-investment/) - We are seeing investors shift into smaller tertiary markets where competition is weaker, value-add properties where the potential for rent increases is higher.
- [After a Rough First Half, Publicly-Traded REITs Bounced Back in July](https://carnm.realtor/after-a-rough-first-half-publicly-traded-reits-bounced-back-in-july/) - REITs have been bolstered by a strong second quarter earnings season, with many REIT executives reporting continued strong operating fundamentals.
- [Surging for So Long, Industrial Sector Growth Now Starting to Level](https://carnm.realtor/surging-for-so-long-industrial-sector-growth-now-starting-to-level/) - Indications that the high-performing industrial market has hit a plateau are growing, according to a report by Newmark.
- [Supply Chain Disruption](https://carnm.realtor/supply-chain-disruption/) - Basic economics, as we’ve learned, is the creation of equilibrium between supply and demand to create economic harmony.
- [Real Estate as an Inflation Hedge](https://carnm.realtor/real-estate-as-an-inflation-hedge/) - Real estate may provide an attractive inflation hedge, as rents and property values are highly correlated with rising consumer prices.
- [Lower Prices Offer Americans Slight Reprieve From Inflation](https://carnm.realtor/lower-prices-offer-americans-slight-reprieve-from-inflation/) - Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday, down from a 9.1% year-over-year increase in June.
- [Emerging Tech Cities That Are Relatively Affordable](https://carnm.realtor/emerging-tech-cities-that-are-relatively-affordable/) - Markets in the Sun Belt offer savings compared to major US tech hubs, as do Canadian markets.
- [Thanks to Pandemic Puppies, CRE Investors Are Turning Their Attention to Veterinary Clinics](https://carnm.realtor/thanks-to-pandemic-puppies-cre-investors-are-turning-their-attention-to-veterinary-clinics/) - Both group and individual investors have sought out ownership of veterinary hospitals and clinics over the last five years given the stability of their tenants
- [Searching for Stability](https://carnm.realtor/searching-for-stability/) - Ongoing disruptions to the global supply chain will impact commercial real estate, but opportunities are available across various sectors.
- [2022-23 Top Ten Issues Affecting Real Estate](https://carnm.realtor/2022-23-top-ten-issues-affecting-real-estate/) - As the commercial real estate industry faces an unprecedented era of uncertainty, the influence of inflation and interest rates is the leading concern this year
- [Hybrid Work and the “Great Decentralization”: A Correction Towards Resiliency?](https://carnm.realtor/hybrid-work-and-the-great-decentralization-a-correction-towards-resiliency/) - This new trend towards geographic and organizational decentralization has changed most regions, with bracing effect on specific real estate markets and sectors.
- [Equity Elusive in NM's Budding Cannabis Industry](https://carnm.realtor/equity-elusive-in-nms-budding-cannabis-industry/) - According to the National Hispanic Cannabis Council, just 5.7% of licensed cannabis businesses are owned by Hispanics.
- [Monsoon Flows Temporarily Prop Up New Mexico Waters](https://carnm.realtor/monsoon-flows-temporarily-prop-up-new-mexico-waters/) - Monsoon flows have prevented some of the water shortages officials were planning for this year, but they won’t be enough to curb the declining reservoirs
- [FDIC Sees Potential Warning Signs for Bank CRE Lenders](https://carnm.realtor/fdic-sees-potential-warning-signs-for-bank-cre-lenders/) - There is a lot of money in bank CRE lending, recently peaking at $2.7 trillion, or “well above the $1.9 trillion held in 2008.
- [Geopolitical Risk: Political, Capital Markets and Real Estate Uncertainty](https://carnm.realtor/geopolitical-risk-political-capital-markets-and-real-estate-uncertainty/) - Understanding the direct implications of geopolitical risks attributable to real estate can be challenging to measure.
- [Inflation and Interest Rates: Some Clarity To Mixed Macroeconomic Signals](https://carnm.realtor/inflation-and-interest-rates-some-clarity-to-mixed-macroeconomic-signals/) - Having focused on its mandate for maximum employment, the U.S. Federal Reserve is now singularly focused on inflation.
- [U.S. Economy Shows Another Decline, Fanning Recession Fears](https://carnm.realtor/u-s-economy-shows-another-decline-fanning-recession-fears/) - A key measure of economic output fell for the second straight quarter, raising fears that the United States could be entering a recession
- [Construction Job Openings Plunge as Demand Ebbs](https://carnm.realtor/construction-job-openings-plunge-as-demand-ebbs/) - There were 71,000 fewer job openings in the construction industry, a 17.5% drop from May
- [Blackstone: Slowdown of New Construction to Keep Lifting Rents](https://carnm.realtor/blackstone-slowdown-of-new-construction-to-keep-lifting-rents/) - Investment giant says demand will keep outpacing supply in residential, industrial sectors.
- [In Spite of Worries About Inflation, Downturn, Retail Leasing Has Thrived This Year](https://carnm.realtor/in-spite-of-worries-about-inflation-downturn-retail-leasing-has-thrived-this-year/) - concerns about rising inflation and the economy this summer have led some to hit the pause button on expansion for now, according to retail analysts.
- [Co-Warehousing Comes to the Industrial Sector](https://carnm.realtor/co-warehousing-comes-to-the-industrial-sector/) - How one private equity real estate firm is trying to bring flexible industrial facilities to the market in U.S. cities with its Portal Warehousing offering.
- [CIRE: Congratulations to CCIM NM and Being Awarded the 2021 President's Cup for Tier 3!](https://carnm.realtor/cire-congratulations-to-ccim-nm-and-being-awarded-the-2021-presidents-cup-for-tier-3/)
- [Despite Headwinds Industrial Demand Remains Strong](https://carnm.realtor/despite-headwinds-industrial-demand-remains-strong/) - A new report from Savills on the US industrial market for the second quarter of 2022 says that demand is still strong
- [Finding New Opportunities in Times of Uncertainty](https://carnm.realtor/finding-new-opportunities-in-times-of-uncertainty/) - During an industry deep dive session at GlobeSt.com’s national Women of Influence conference, panelists discussed the labor market, advice and how to push forward and find new opportunities during times of uncertainty. Key industry influencers from every link in the value chain came together Tuesday morning at the GlobeSt. national Women of Influence conference. Their
- [Fed Fights Inflation With Another Big Rate Increase](https://carnm.realtor/fed-fights-inflation-with-another-big-rate-increase/) - The central bank raised rates by three-quarters of a point, its fourth increase this year, as it attempts to tame prices without causing a severe downturn.
- [New Rocket Motor Company Conducts First NM Launch](https://carnm.realtor/new-rocket-motor-company-conducts-first-nm-launch/) - X-Bow Systems successfully flew its new “Bolt Rocket” for the first time at White Sands Missile Range on Saturday
- [As Drought Continues, River Flows Dwindle In Albuquerque Area](https://carnm.realtor/as-drought-continues-river-flows-dwindle-in-albuquerque-area/) - The drying of the Albuquerque stretch was not unanticipated. Marken said the conservancy district’s board was even preparing for it to occur earlier in the year—in June rather than July.
- [Flight To Quality Continues for Office Sector](https://carnm.realtor/flight-to-quality-continues-for-office-sector/) - There is a widening divergence in absorption and rent growth. Office sector leasing was flat in the second quarter, but the so-called flight to quality continued to gain speed, leading to what JLL has called a “widening divergence in absorption and rent growth based on building age and amenitization.” “Continued reassessments of space needs as
- [How Some Industrial Developers Are Dealing with the Land Crisis](https://carnm.realtor/how-some-industrial-developers-are-dealing-with-the-land-crisis/) - Blackstone expects record-low vacancies in industrial to continue because supply can’t keep up with demand.
- [Commercial Real Estate Market Expected to Grow Despite Rising Interest Rates](https://carnm.realtor/commercial-real-estate-market-expected-to-grow-despite-rising-interest-rates/) - NAR Chief Economist Lawrence Yun expects the commercial market to perform well despite the headwinds, especially in the short term.
- [NAR Commercial Real Estate Metro Market Report | 2022.Q1 Albuquerque, NM](https://carnm.realtor/nar-commercial-real-estate-metro-market-report-2022-q1-albuquerque-nm/) - The Albuquerque, NM commercial real estate market is stronger compared to the overall U.S. market. NAR Commercial Real Estate Market Conditions Index* 52.0 Overall economic conditions are stronger than nationally. The apartment property market is about the same than nationally. The office property market is stronger than nationally. The industrial property market is not as
- [July 2022 LIN Properties](https://carnm.realtor/july-2022-lin-properties/) - At the July 2022 LIN Meeting, 16 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the July 2022 LIN properties here. View the July 2022 LIN Thank Yous here.
- [June 2022 CCIM Deal Making Session Properties](https://carnm.realtor/june-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the June 2022 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to the Thank Yous. Name Property, City Type Price 1. Jim Wible CCIM Keith Meyer CCIM, SIOR Riley McKee NEC Juan
- [June 2022 LIN Properties](https://carnm.realtor/june-2022-lin-properties/) - At the June 2022 LIN Meeting, 10 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the June 2022 LIN properties here. View the June 2022 LIN Thank Yous here.
- [May 2022 LIN Properties](https://carnm.realtor/may-2022-lin-properties/) - At the May 2022 LIN Meeting, 13 excellent properties were presented. Thank you for presenting properties and attending the meeting! View the May 2022 LIN properties here. View the May 2022 LIN Thank Yous here.
- [How to Know If Your Fire Alarm System Needs Upgrading](https://carnm.realtor/how-to-know-if-your-fire-alarm-system-needs-upgrading/) - Nationwide, there are tens of thousands of buildings with aging fire alarm and other fire protection systems.
- [E.C.B. Raises Rates for First Time in 11 Years](https://carnm.realtor/e-c-b-raises-rates-for-first-time-in-11-years/) - In the first move of its kind in over a decade, the European Central Bank raised its three interest rates half a percentage point
- [Planned ABQ ‘Rail Trail’ Gets $10M From The State](https://carnm.realtor/planned-abq-rail-trail-gets-10m-from-the-state/) - Not long ago, city leaders thought the proposed Albuquerque Rail Trail was headed nowhere. Mayor Tim Keller said his administration did not have a clear cut way to fund a new pedestrian-friendly path linking the historic Albuquerque Rail Yards to the heart of Downtown, the Sawmill District and Old Town despite his conviction that it
- [Compressed Cap Rates and Higher Risk Pushes Multifamily Investors to Forgo Older Assets](https://carnm.realtor/compressed-cap-rates-and-higher-risk-pushes-multifamily-investors-to-forgo-older-assets/) - With a shrinking delta in cap rates between assets of different vintage, many investors opt to go with lower risk newer properties and fewer capital expenditures.
- [Entitlement and Construction for New Industrial Builds are Dragging](https://carnm.realtor/entitlement-and-construction-for-new-industrial-builds-are-dragging/) - The entitlement and construction process for new industrial builds is taking five months longer on average than it did pre-pandemic
- [Parsing Recession Risk Is Not Always Straightforward](https://carnm.realtor/parsing-recession-risk-is-not-always-straightforward/) - Yield curve inversions aren’t the only sign in town. Trying to handicap economic moves has become a popular, yet whipsawn, source of entertainment, at least among fiscal pundits and the media. But few things are a given and it can be tough to know the ultimate direction when things are moving fast. And so, there’s
- [The Higher Cost of Capital is Beginning to Erode CRE Asset Prices](https://carnm.realtor/the-higher-cost-of-capital-is-beginning-to-erode-cre-asset-prices/) - A bid/ask gap has emerged between buyers and sellers and real estate investors attempt to navigate the shifting economic climate. Commercial property prices that have been hovering at near peak levels are starting to slide lower, and with more interest rate hikes looming, it could turn out to be a slippery slope for some sellers.
- [A Post-Pandemic Boom in Mixed-Use Mega Projects Is Underway](https://carnm.realtor/a-post-pandemic-boom-in-mixed-use-mega-projects-is-underway/) - Positive property fundamentals at mixed-use developments are attracting investors of all types. As some commercial property sectors, most notably office buildings and retail properties, continue to face some challenges post-pandemic, one popular project type—mixed-use—is making a strong comeback. All types of investors, including EB-5 investors, private equity players and publicly-traded REITs, like getting on-board with
- [What the Latest Inflation Numbers Mean for CRE Investors](https://carnm.realtor/what-the-latest-inflation-numbers-mean-for-cre-investors/) - “If you strip out the cost of energy and food, the picture is a bit more promising.” Last week’s inflation numbers, which clocked in at 9.1%, will “certainly” impact interest rates which potentially increases recession risk—and it could also affect the flow of capital to different property types in different parts of the US. That’s
- [Business Incubator to Open in Valencia County](https://carnm.realtor/business-incubator-to-open-in-valencia-county/) - Entrepreneurs in Valencia County will soon have another resource to help launch their businesses as the Valencia County Business Incubator prepared for its soft launch this weekend. Co-founder and interim director Ben Romero said the goal is to grow new businesses throughout the county. “Do you have a business idea and you’re motivated to create
- [‘Proving Them Wrong’: South Valley Groups Spur Economic Growth](https://carnm.realtor/proving-them-wrong-south-valley-groups-spur-economic-growth/) - It’s a weekday in mid-July and small businesses are using the kitchen and freezers at the South Valley Economic Development Center, readying their business for sales later in the week. Workers at the Agri-Cultura Network, a farm-to-table cooperative that brings produce from South Valley growers to local supermarkets, are hard at work washing vegetables before
- [Retail Sales Improved Last Week. Or Did They?](https://carnm.realtor/retail-sales-improved-last-week-or-did-they/) - Meanwhile, consumer confidence remains low, supply chains face fresh problems, and some experts are wary. When consumers spend, it makes most everyone in business and economics happy. That money drives almost 70% of GDP. There’s money for products and services, businesses do better, and CRE eventually gets its share. When the news of better-than-expected retail
- [Seniors Housing Investors Brace for Rising Cap Rates](https://carnm.realtor/seniors-housing-investors-brace-for-rising-cap-rates/) - Exclusive research shows that investors expect rising interest rates and other pressures to push cap rates up over the next 12 months. Rising interest rates and pressure on NOI are contributing to expectations for higher cap rates ahead in the seniors housing sector, according to respondents in the ninth annual WMRE / NIC Seniors Housing Survey. A
- [How Multifamily Borrowers are Adjusting to Rising Interest Rates](https://carnm.realtor/how-multifamily-borrowers-are-adjusting-to-rising-interest-rates/) - Some buyers are trying to renegotiate prices, but a net result of recent moves could be a tightening in the spread between multifamily cap rates and yields on 10-year Treasuries. With the recent rate hikes from the Federal Reserve, borrowing costs for multifamily assets are rising as well. This is disrupting sales volume as higher rates are
- [How Developers Can Overcome NIMBYism](https://carnm.realtor/how-developers-can-overcome-nimbyism/) - Marilee Utter of the Counselors of Real Estate shares her “long short-cut” for developers to overcome the community opposition that can stall projects. Over last two years, cities across the country have experienced marked growth, with people moving at record rates, companies relocating and the jobs market flourishing. The growth has mostly been good news
- [Why the Pandemic Downturn Has Been Amid the “Most Benign” for the Office Sector](https://carnm.realtor/why-the-pandemic-downturn-has-been-amid-the-most-benign-for-the-office-sector/) - For two years, headlines have screamed about a bloodbath in the office sector. Research from Moody’s Analytics shows those headlines have little in common with reality. When COVID-19 kept a big part of the U.S. office workforce home throughout much of 2020 and 2021, the fear in the commercial real estate industry was that the
- [What CRE Investors Should Consider When Contemplating a Recession](https://carnm.realtor/what-cre-investors-should-consider-when-contemplating-a-recession/) - In general, real estate has delivered positive returns through most recessions. Investors “shouldn’t be afraid of an impending recession” and should instead consider what the economic picture will look like over hold times of three, five and ten years, according to one industry watcher. “It’s hard to say if or when the next recession will
- [Why Real Estate Construction Contract Disputes Are Reaching New Heights](https://carnm.realtor/why-real-estate-construction-contract-disputes-are-reaching-new-heights/) - Lessons learned over the last couple years representing owners as it relates to high-end residential and smaller-to-midsize commercial construction projects. It wasn’t long after the lockdowns in the U.S. in March of 2020 due to the Covid-19 pandemic that we started getting calls from clients telling us that their construction projects were flailing, and they
- [Investors Should Think Risk Factors, Not Asset Classes](https://carnm.realtor/investors-should-think-risk-factors-not-asset-classes/) - The path forward for markets will depend on the success of the Fed, the strength of the labor market and the persistence of inflation. Rather than using the traditional asset-class analysis, I have found employing a risk-factor approach particularly helpful in understanding the impact of economics and policy on markets this year — not only
- [What Gene Therapy's Record Year Could Mean For CRE](https://carnm.realtor/what-gene-therapys-record-year-could-mean-for-cre/) - A seismic transformation in biomanufacturing real estate is having a direct impact on the availability of space. The cell and gene therapy (CGT) industry is on track to hit a record number of regulatory approvals this year—and the boom could have big implications for commercial real estate. Life sciences employment is riding high and the
- [CRE Property Prices Down 4.9% From Recent Highs](https://carnm.realtor/cre-property-prices-down-4-9-from-recent-highs/) - Stock and bond repricings catch up to alternative assets. It’s hard to remember that basic truth of Newtonian physics that what goes up, unless snagged by a high-flying eagle, eventually returns under force of gravity. On the whole, that’s what happened to commercial real estate property prices according to the Green Street Commercial Property Price
- [Multifamily Rent Increases Come at a Price to Landlords](https://carnm.realtor/multifamily-rent-increases-come-at-a-price-to-landlords/) - Multifamily, with industrial, has been one of the shining parts of commercial real estate since the pandemic turned normal upside down and shook it.
- [Real Estate Needs To Be In The Community-Building Business If It Wants People Back At The Office](https://carnm.realtor/real-estate-needs-to-be-in-the-community-building-business-if-it-wants-people-back-at-the-office/) - Sartre might have thought hell is other people, but when it comes to getting workers back to the office, existentialism is out and community is in.
- [There 'Simply Isn't Space to Lease' in Industrial Anymore](https://carnm.realtor/there-simply-isnt-space-to-lease-in-industrial-anymore/) - Industrial leasing activity fell below 200 million square feet in Q2, according to Cushman & Wakefield’s report
- [Another Wave of Shipping and Supply Chain Challenges is On the Way](https://carnm.realtor/another-wave-of-shipping-and-supply-chain-challenges-is-on-the-way/) - By now weary retailers are familiar with the drill and are recalibrating supply chains and warehousing and manufacturing strategies.
- [How Office Landlords Are Trying to Raise Their Physical Occupancy Levels](https://carnm.realtor/how-office-landlords-are-trying-to-raise-their-physical-occupancy-levels/) - With human interaction cited among the main reasons for workers to go into the office, landlords are focusing on common spaces and gyms. COVID-19 may be less of a threat today than it was a year or two ago, but some white collar workers continue to resist returning to the office in any meaningful way.
- [Can the U.S. Supply Chain Withstand New Disruptions?](https://carnm.realtor/can-the-u-s-supply-chain-withstand-new-disruptions/) - After more than two years of pandemic-related disruptions the U.S. supply chain is facing new challenges
- [Retail, Office Cap Rates Rise in Q2](https://carnm.realtor/retail-office-cap-rates-rise-in-q2/) - Inflation has finally pushed cap rates in the single tenant net lease sector to increase
- [The Atlanta Fed Can't Keep Up With the Bad Economic News](https://carnm.realtor/the-atlanta-fed-cant-keep-up-with-the-bad-economic-news/) - One day it’s -1% GDP growth. The next morning it’s -2.1%.
- [Rising Interest Rates, Inflation Lead Investors to Reassess Which CRE Assets to Pursue](https://carnm.realtor/rising-interest-rates-inflation-lead-investors-to-reassess-which-cre-assets-to-pursue/) - Multifamily and industrial continue to be in demand among commercial real estate investors, in spite of the new challenges.
- [The Apartment Markets at Greatest Risk for Oversupply](https://carnm.realtor/the-apartment-markets-at-greatest-risk-for-oversupply/) - While the industry plays catch-up on housing construction, Apartments.com points to several markets perhaps going in the wrong direction.
- [Texas v. New Mexico Water Trial Delayed For Settlement Talks](https://carnm.realtor/texas-v-new-mexico-water-trial-delayed-for-settlement-talks/) - A trial in the case Texas brought against New Mexico centered around Rio Grande water use has once again been delayed.
- [New Study Shows How Drought Led To Deadly Temperatures In The Southwest In 2021](https://carnm.realtor/new-study-shows-how-drought-led-to-deadly-temperatures-in-the-southwest-in-2021/) - Drought conditions in the southwest United States triggered record-breaking heat
- [Lumber Prices Head Up Again but Without the Jet Propulsion](https://carnm.realtor/lumber-prices-head-up-again-but-without-the-jet-propulsion/) - If you were buying lumber, June 13 was a good day with spot prices and futures down to $528 per thousand board feet
- [Multifamily Rent Growth Continues to Outpace Inflation](https://carnm.realtor/multifamily-rent-growth-continues-to-outpace-inflation/) - JLL is predicting that both inflation and rental growth will start moderating this year and through 2024
- [Multi-Housing Rent Growth Continues to Climb](https://carnm.realtor/multi-housing-rent-growth-continues-to-climb/) - The momentum surrounding multi-housing rent growth has continued in 2022 and is currently outpacing inflationary growth
- [Three Amenities Owners are Adding to Office Buildings](https://carnm.realtor/three-amenities-owners-are-adding-to-office-buildings/) - Invest in these areas to create buildings people want to work in and transform office space that meets tenant expectations
- [CRE Price Growth Still High … For Now](https://carnm.realtor/cre-price-growth-still-high-for-now/) - CRE prices are still rising, but the rate of growth for most types seems to have hit the top and has tipped over on the downward slope
- [Forecast: Positive for U.S. Real Estate Despite Higher Inflation, Interest Rates](https://carnm.realtor/forecast-positive-for-u-s-real-estate-despite-higher-inflation-interest-rates/) - Real estate economists predict solid performance by U.S. property markets over the next three years
- [Hotel Developers Battle Rising Construction Costs to Build More Rooms](https://carnm.realtor/hotel-developers-battle-rising-construction-costs-to-build-more-rooms/) - With industry fundamentals continuing to strengthen following a steep dip during the pandemic, some hotel investors are back in building mode.
- [The Sky May Be the Limit As Interest Rate Caps Keep Rising](https://carnm.realtor/the-sky-may-be-the-limit-as-interest-rate-caps-keep-rising/) - Interest rate hikes have been taking a toll on commercial real estate, especially as interest rate caps become expensive enough to kill deals.
- [Despite Challenges, Borderplex Holds Huge Promise](https://carnm.realtor/despite-challenges-borderplex-holds-huge-promise/) - While industrial growth at the Borderplex seems to be strong for the foreseeable future, there remain challenges that could affect this growth.
- [Multifamily Dealmakers Aren’t Hitting Their Whisper Prices Anymore and Institutional Equity Is Moving In](https://carnm.realtor/multifamily-dealmakers-arent-hitting-their-whisper-prices-anymore-and-institutional-equity-is-moving-in/) - Forty-five days ago, a multifamily asset on the market would receive bids from 30 groups, unintentionally driving up the price for the property.
- [CRE Investment Performance Has Been Sizzling](https://carnm.realtor/cre-investment-performance-has-been-sizzling/) - But it varied a lot in Q1 by type and the future is uncertain. If you’ve been invested in commercial real estate, you’ve had a superb trailing four quarters—on average. But that depends on what properties your money sat. As for the future, that’s looking uncertain. Aegon Asset Management, in its June 2022 US CRE
- [Welcome to Negative Leverage in CRE](https://carnm.realtor/welcome-to-negative-leverage-in-cre/) - Negative leverage has reared its ugly head in CRE investing, as interest rates have risen, and cap rates have remained compressed.
- [The Lumber Roller Coaster Takes Another Price Dive](https://carnm.realtor/the-lumber-roller-coaster-takes-another-price-dive/) - Look at six months of lumber futures and, if you depend on the material in your business, things look downright promising
- [Strong Demand for Health Services Drives Medical Office Development](https://carnm.realtor/strong-demand-for-health-services-drives-medical-office-development/) - America’s aging population continues to drive demand for medical services, and that, in turn, is helping fuel activity in the medical office development
- [NAR April 2022 Commercial Market Insights](https://carnm.realtor/nar-april-2022-commercial-market-insights/) - Highlights Strong fundamentals in property segments of the multifamily, office, industrial, and retail markets are likely to keep the commercial market recovery going, although at a moderate pace amid rising interest rates and elevated inflation of over 2% during the next two years. The hotel market is expected to slow amid rising air fare, transportation
- [Industrial Tenants Face Sticker Shock Amid Spiraling Inflation](https://carnm.realtor/industrial-tenants-face-sticker-shock-amid-spiraling-inflation/) - Renters of industrial properties are facing sticker shock in the current inflationary environment, with national effective rent growth expected to increase
- [Market Volatility Brings Real Estate ETF Momentum to a Halt](https://carnm.realtor/market-volatility-brings-real-estate-etf-momentum-to-a-halt/) - After seeing a windfall of flows in 2021, real estate ETFs have experienced net outflows of $2.1 billion so far in 2022.
- [New Fed Numbers Show Zero GDP Growth at Best](https://carnm.realtor/new-fed-numbers-show-zero-gdp-growth-at-best/) - This isn’t a guarantee of a recession, but one seems more likely to happen than not. For those in commercial real estate worried about the immediate economic future, today brought a double dose of bad news. First, in order of occurrence, the Atlanta Fed gross domestic product (GDP) tracker just indicated an update of estimated second quarter
- [And Now, Some Good News: More People Are Searching For Office Space Than Before](https://carnm.realtor/and-now-some-good-news-more-people-are-searching-for-office-space-than-before/) - After declining substantially in 2020, searches for office space for rent followed a positive pathway in 2021,
- [Publicly-traded REITs Weather a Repricing Period](https://carnm.realtor/publicly-traded-reits-weather-a-repricing-period/) - REIT balance sheets remain strong and management teams believe they are prepared to weather any economic setbacks. REIT share prices have fallen as the broader stock market prices in interest rate hikes and the potential of a recession. But at the same time, REIT executives remain bullish about near-term real estate fundamentals in their portfolios
- [As Consumers Take a Step Back from Home Deliveries, Will Cold Storage Remain a Hot Asset Type?](https://carnm.realtor/as-consumers-take-a-step-back-from-home-deliveries-will-cold-storage-remain-a-hot-asset-type/) - With COVID-19 precautions and mitigation strategies increasingly becoming a thing of the past, is the demand for cold storage holding up?
- [CO-Based Commercial Space Firm to Land in New Mexico](https://carnm.realtor/co-based-commercial-space-firm-to-land-in-new-mexico/) - Colorado-based Sierra Space plans to land some of its Dream Chaser flights in New Mexico
- [For the First Time CBD and Suburban Office Vacancies are the Same](https://carnm.realtor/for-the-first-time-cbd-and-suburban-office-vacancies-are-the-same/) - Suburban markets are leading the post-pandemic office sector recovery, with absorption hitting 2.2 million square feet in the first quarter.
- ['Hyper-Hybrid' Workers Find a Third Home](https://carnm.realtor/hyper-hybrid-workers-find-a-third-home/) - Hyper-hybrid workers are finding both good and bad with their new weekly working patterns, according to a new report by JLL.
- [CRE Lenders Are Dusting Off The MAC Clause Again](https://carnm.realtor/cre-lenders-are-dusting-off-the-mac-clause-again/) - There are other worrisome signs that liquidity may be starting to tighten for CRE borrowers. The last time Mark Scott, president of Commercial Mortgage Capital, remembers a lender invoking the Material Adverse Change, or MAC, clause in a deal was during the Great Recession. Now, he’s hearing it more and more in conversations with capital
- [How Inflation Is Impacting the Office Recovery](https://carnm.realtor/how-inflation-is-impacting-the-office-recovery/) - Although office occupiers should have it easier with inflation, there is a catch.
- [Amazon’s Plan to Sublease Industrial Space May Just Be the Start](https://carnm.realtor/amazons-plan-to-sublease-industrial-space-may-just-be-the-start/) - Amazon was the first to announce plans to sublet warehouse space, but other Fortune 500 retailers are expected to return space to the market as well.
- [Consumer Prices Rose Rapidly in May](https://carnm.realtor/consumer-prices-rose-rapidly-in-may/) - The latest Consumer Price Index showed a reacceleration in inflation, dashing hopes that price increases had peaked.
- [Amazon's Newly Built Warehouses to Stand Empty](https://carnm.realtor/amazons-newly-built-warehouses-to-stand-empty/) - The e-commerce giant delays openings of newest fulfillment centers for up to two years. Before the pandemic, the most reliable barometer of regional economic growth was an announcement that Amazon would be building a new fulfillment center and bringing a minimum of 1,000 new jobs to a community. During the pandemic, the pace of these
- [Are CRE Price Drops Coming?](https://carnm.realtor/are-cre-price-drops-coming/) - Like all of business, nothing is certain, but some pros are eyeing the conditions and readying themselves for an unwelcome surprise. Years ago, there was a novel called Been Down So Long It Looks Like Up to Me. Could it be time for a commercial real estate sequel: Been Up So Long It’s Bound to Look
- [Buyer Demand Remains High for Corporate Sale-Leaseback Deals](https://carnm.realtor/buyer-demand-remains-high-for-corporate-sale-leaseback-deals/) - The corporate sale-leaseback market is coming off a record-high first quarter for deal-making.
- [8.6% Inflation Means Serious Planning for CRE](https://carnm.realtor/8-6-inflation-means-serious-planning-for-cre/) - It’s another 40-year high and no signs yet that price hikes will cool off. The CPI calculation—consumer price index, or what’s commonly called inflation—was expected to run warm, but not like a Miami August afternoon on the beach without an umbrella for shade. “A Labor Department inflation report proved many traders were wrong with identifying
- [Institutional and Private Investors Go After Net Lease Car Washes](https://carnm.realtor/institutional-and-private-investors-go-after-net-lease-car-washes/) - Strong credit profiles and outsized growth potential has created a steady market for car wash sale-leasebacks.
- [Hybrid Work Was Supposed to Create the Best of Two Worlds. It’s Turning Out to be a Challenge for Office Tenants.](https://carnm.realtor/hybrid-work-was-supposed-to-create-the-best-of-two-worlds-its-turning-out-to-be-a-challenge-for-office-tenants-2/) - The need to retain talent has prompted many companies across the U.S. to implement a hybrid work model as they bring employees back to the office.
- [Federal Reserve Sees Multiple CRE Markets Softening](https://carnm.realtor/federal-reserve-sees-multiple-cre-markets-softening/) - Even with some continued economic growth, high prices and interest rates begin to take a toll. According to a recent Federal Reserve report, there’s still growth in overall economic activity, but reports on real estate in 11 of its 12 districts suggest that things are broadly cooling under the pressure of ongoing price increases and
- [Borderplex, Juárez Industrial Growth Off the Charts](https://carnm.realtor/borderplex-juarez-industrial-growth-off-the-charts/) - The industrial leasing market for value-added production and warehousing in the Borderplex region (El Paso, Juárez, southern New Mexico) is a microcosm of this phenomenon.
- [Negative Leverage in Multifamily Now Widespread](https://carnm.realtor/negative-leverage-in-multifamily-now-widespread/) - Rising interest rates have lenders increasingly getting better returns than multifamily investors. Another warning sign that harkens back to the epic collapse of the housing market in 2008 has emerged in the multifamily sector in recent weeks as interest rates have risen: negative leverage is back. Negative leverage is a phenomenon that occurs when asset
- ["Trifecta of Problems" for NM Construction Companies](https://carnm.realtor/trifecta-of-problems-for-nm-construction-companies/) - Construction companies in New Mexico are facing issues, and looking for solutions, in a market still ensnared by the economic forces of the COVID-19 pandemic.
- [May 2022 CCIM Deal Making Session Properties](https://carnm.realtor/may-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the May 2022 CCIM NM Deal Making Session & Forum and to those who shared their properties. Click here to view source PDF. Name Property, City Type Price 1. Richard Hanna, CCIM 10120 Central Ave SW Albuquerque, NM Retail $1,200,000 2. Jim Wible, CCIM
- [The Race for Industrial Space](https://carnm.realtor/the-race-for-industrial-space/) - With nearly 60 markets across the U.S., we’ve utilized JLL local market intelligence to gather insightful information on the current supply conundrum. This report addresses the various challenges occupiers, landlords, investors, and developers are facing as the availability of industrial space and land to build upon continues to descend. There isn’t a lot of availability
- [How Can An Office Building Embrace The Concept Of Placemaking?](https://carnm.realtor/how-can-an-office-building-embrace-the-concept-of-placemaking/) - Placemaking is a word that has popped up often in the last few years in reference to community development, but it’s an idea that is still lost on many...
- [Supply-Chain Relief Sparks Feud Over Degree of Softer US Economy](https://carnm.realtor/supply-chain-relief-sparks-feud-over-degree-of-softer-us-economy/) - Some supply strains in the US are easing, two years after a jump in demand started emptying shelves, snarling shipping and sowing the seeds of soaring inflation.
- [Breaking Down the First Quarter Commercial Real Estate Investment Numbers](https://carnm.realtor/breaking-down-the-first-quarter-commercial-real-estate-investment-numbers/) - David Bodamer is joined by CBRE's Darin Mellott to discuss key highlights from the commercial real estate industry's busy first quarter. After a record breaking fourth quarter in 2021, the momentum continued into the first quarter of 2022 with a 45 percent year-over-year increase in U.S. commercial real estate investment volume. What has influenced these
- [Hybrid Work Was Supposed to Create the Best of Two Worlds. It’s Turning Out to be a Challenge for Office Tenants.](https://carnm.realtor/hybrid-work-was-supposed-to-create-the-best-of-two-worlds-its-turning-out-to-be-a-challenge-for-office-tenants/) - The need to retain talent has prompted many companies across the U.S. to implement a hybrid work model as they bring employees back to the office.
- [RECPAC Supports Candidates for the NM Primary Election on June 7th](https://carnm.realtor/recpac-supports-candidates-for-the-nm-primary-election-on-june-7th/) - The New Mexico Primary Election is slated for Tuesday, June 7th. This election will determine the nominees for political parties in advance of the New Mexico General Election on Tuesday, November 8th. The winner is the candidate with the greatest number of votes, even if they do not win more than 50 percent of all votes
- [Positive Outlook for Commercial Real Estate Hits Seven-Year High](https://carnm.realtor/positive-outlook-for-commercial-real-estate-hits-seven-year-high/) - Results from the first-half 2022 WMRE/Marcus & Millichap Investor Sentiment Survey are overwhelmingly positive. The Investor Sentiment Index climbed five points from 165 in the H2 survey to reach 170 – the highest level since 2015. A number of factors are driving optimism across all sectors of the commercial real estate market. Vacancy rates for
- [10 Economists Offer Their Advice for CRE Investors](https://carnm.realtor/10-economists-offer-their-advice-for-cre-investors/) - How have rising interest rates, inflation and geopolitical uncertainty changed the outlook for U.S. commercial real estate investors? It’s an understatement to say that there’s a lot of uncertainty right now regarding not only the U.S. economy, but the global economy at large. As the world faces another pandemic wave and the war in Ukraine
- [Why Patent Filings Matter To CRE](https://carnm.realtor/why-patent-filings-matter-to-cre/) - Patent filings are not the typical object of fascination in commercial real estate. But a periodic look can give some insight into what technology vendors might be offering to the industry
- [Further Vacancy Compression Expected For Single-Tenant Retail](https://carnm.realtor/further-vacancy-compression-expected-for-single-tenant-retail/) - Single-tenant retail is continuing to perform well as consumer foot traffic and spending in brick-and-mortar stores has heated up
- [From Spaces to Places With Purpose](https://carnm.realtor/from-spaces-to-places-with-purpose/) - Tenant demand for workspaces that offer connection, collaboration and creativity will determine which office buildings rise above the competition With the flight to quality in full force, owners and investors must balance competing requirements to make their portfolios more resilient while still meeting tenant demand for en vogue amenities with creative experiences and cohesive tech
- [Retail Cap Rates vs The Federal Reserve](https://carnm.realtor/retail-cap-rates-vs-the-federal-reserve/) - Many investors are concerned that the raising of interest rates by the Fed will lead to an increase in cap rates, but that isn’t necessarily the case.
- [Self-Storage REITs: Biggest Will Get Bigger](https://carnm.realtor/self-storage-reits-biggest-will-get-bigger/) - Flush with cash and industry-highest occupancy rates, Public Storage is poised to continue its acquisition strategy.
- [Interest Rate Cap Fees Are Crushing Transactions](https://carnm.realtor/interest-rate-cap-fees-are-crushing-transactions/) - How many ways can a CRE borrower say out? How about a good factor of ten when it comes to interest caps on adjustable-rate commercial real estate loans?
- [Investment Activity in the Skilled Nursing Sector is Ramping Back Up](https://carnm.realtor/investment-activity-in-the-skilled-nursing-sector-is-ramping-back-up/) - Investors are eager to buy skilled nursing facilities–and prices are still high, even though many properties are still recovering from spikes in occupancy
- [A New Hub and Spoke Model Emerges As Office Occupiers Rethink Plans](https://carnm.realtor/a-new-hub-and-spoke-model-emerges-as-office-occupiers-rethink-plans/) - A modern hub and spoke model is slowly emerging through flexible office providers as companies reconsider their optimal CRE footprint, according to one industry expert.
- [Investors Pour Billions Into Medical Office Sector In Search Of Stability](https://carnm.realtor/investors-pour-billions-into-medical-office-sector-in-search-of-stability/) - Investors nationwide are starting to look for more durable asset classes as concerns of a recession become a greater factor, and many are turning their sights toward medical office buildings
- [Micro-Fulfillment Centers Resolve Online Grocery’s Pain Points](https://carnm.realtor/micro-fulfillment-centers-resolve-online-grocerys-pain-points/) - Powered by robotic technology, micro-fulfillment centers can be in a parking lot or in the back of an existing store. Grocery is the last frontier of e-commerce expansion. While online shopping has rapidly attracted consumers and forced the evolution of retail, online grocery shopping has yet to usurp a significant portion of the market. Back
- [Funded Like Finance, Scaling Like Tech: How Crypto Firms Are Handling The Office Search](https://carnm.realtor/funded-like-finance-scaling-like-tech-how-crypto-firms-are-handling-the-office-search/) - Companies born out of blockchain technology, like those involved in cryptocurrency and NFTs, as well as web3 operations, are increasingly looking to lock up office space in New York as a way of luring talent and indicating to investors they have stability for future growth. But even in a tenant-friendly market, with record-high availability, some landlords are still skittish to offer space
- [Will Inflation Derail the Recovery in Restaurant Dining and Leasing?](https://carnm.realtor/will-inflation-derail-the-recovery-in-restaurant-dining-and-leasing/) - High inflation, including rising gas prices, can disrupt the improving performance of restaurant tenants.
- [What Else Drives Cap Rates Besides Rising Interest Rates](https://carnm.realtor/what-else-drives-cap-rates-besides-rising-interest-rates/) - Many investors assume a direct correlation between cap rates and interest rates – that borrowing costs will drive investor purchase decisions, and that sellers need to lower prices and raise cap rates as a result.
- [Multifamily Investors Primed To Pay A Premium](https://carnm.realtor/multifamily-investors-primed-to-pay-a-premium/) - The average price per unit climbed 21.6% in 2021. Multifamily investors are increasingly willing to pay more than ever before for the asset class, according to a new analysis from Yardi Matrix. The firm logged record-high property sales and prices in 2021, when properties traded for an average of $192,105 per unit. Of the 83,000
- [NAR On Common Ground Spring 2022](https://carnm.realtor/nar-on-common-ground-spring-2022/) - What are the risks of extreme weather and best practice strategies to develop a sustainable built environment? Read the latest issue of On Common Ground online or via the OCG APP (Apple) (Google Play) to gain insight on how towns recover from total destruction to state-of-the-art building techniques and preventative measures to protect communities and
- [The Dark Side of CRE M&A: Making IT Systems Work Together](https://carnm.realtor/the-dark-side-of-cre-ma-making-it-systems-work-together/) - Running dual IT systems can be very costly so it is important to execute a strategy to optimize efficiencies following an acquisition
- [Capital Continues to Flood the Self-Storage Sector](https://carnm.realtor/capital-continues-to-flood-the-self-storage-sector/) - More funds are investing in this space. Self-storage owner and manager Storage Post is receiving $500 million in capital from a fund sponsored by Almanac Realty Investors, a business unit of Neuberger Berman. The company will use the funds to accelerate its acquisition of self-storage assets in the most attractive markets in the US. Storage
- [Robotics, Medical Vending Machines, and 20K Tons of Steel: A Look Inside Amazon’s ABQ Center](https://carnm.realtor/robotics-medical-vending-machines-and-20k-tons-of-steel-a-look-inside-amazons-abq-center/) - Amazon’s newest fulfillment center, which opened on Albuquerque’s West Side last fall, spans about 2.5 million square feet.
- [Shortfall of US Workforce Estimated at 2 Million](https://carnm.realtor/shortfall-of-us-workforce-estimated-at-2-million/) - An estimated 2 million workers are “missing” from the US workforce, compared to pre-pandemic participation rates, despite strong demand in the labor market.
- [Winrock to Break Ground on Park, Pond](https://carnm.realtor/winrock-to-break-ground-on-park-pond/) - The latest stage in development at Winrock Town Center is here. Goodman Realty Group, the developers behind the property in Uptown Albuquerque, announced plans this week for the groundbreaking of the development’s central park on May 18. “Our point with Winrock is not to compete with similar developments in our neighboring cities, it’s to set
- [Retail Traffic Hit Highest 2022 Point Last Month](https://carnm.realtor/retail-traffic-hit-highest-2022-point-last-month/) - There was a shift in visit rates in March as COVID restrictions were lifted again. April was the strongest month yet this year for indoor malls, open-air centers and outlet malls in terms of foot traffic—but there’s still room for improvement as the retail sector realigns post-COVID. Foot traffic to these venues returned to growth
- [Investors, End-Users Compete for Last-Mile Warehouses as Rents Skyrocket](https://carnm.realtor/investors-end-users-compete-for-last-mile-warehouses-as-rents-skyrocket/) - Rents for these facilities can often be 50 percent above those at distribution facilities in traditional locations.
- [Commercial Build-Outs Are Taking Months Longer](https://carnm.realtor/commercial-build-outs-are-taking-months-longer/) - Commercial build-out and tenant improvement projects are taking significantly longer due to supply chain and labor shortages.
- [Land Real Estate On Upward Curve](https://carnm.realtor/land-real-estate-on-upward-curve/) - Rise in Land Sales, Prices Outpaces Commercial and Residential Growth Land sales rose an average of 6% in 2021, surpassing the sales growth of other commercial and real estate sectors, while land prices rose nearly 7%, second only to the price growth of single-family rental properties, according to the latest Land Market Survey from the
- [Commercial Cap Rates Likely to Keep Compressing in 2022 Despite Higher Interest Rates](https://carnm.realtor/commercial-cap-rates-likely-to-keep-compressing-in-2022-despite-higher-interest-rates/) - Rising interest rates are likely to put some upward pressure on cap rates in 2022.
- [Rising Interest Rates Are Creating Turbulence in the CRE Investment Market](https://carnm.realtor/rising-interest-rates-are-creating-turbulence-in-the-cre-investment-market/) - Capital costs are rising, but fundamentals remain strong and real estate is also benefiting as a hedge against inflation. After a long run of incredibly cheap capital, the commercial real estate industry is adjusting to a big jump in the cost of debt. In some cases, loan rates that were quoted around 3 percent six
- [Grocery-Anchored Retail Centers Boom Amid Investor Food Fight, New Appetite From Surprising Tenants](https://carnm.realtor/grocery-anchored-retail-centers-boom-amid-investor-food-fight-new-appetite-from-surprising-tenants/) - It wasn’t exactly surprising that even through the strictest lockdowns, grocery-anchored retail proved almost crisis-proof.
- [April 2022 Commercial Market Trends](https://carnm.realtor/april-2022-commercial-market-trends/) - View a New Mexico Market Trends Summary Report, which includes April 2022 Commercial Market Trends. This report includes the total number of listings, asking lease rates, asking sales prices, days on the market and total square feet available. Disclaimer: All statistics have been gathered from user-loaded listings and user-reported transactions. We have not verified accuracy and make
- [Chugging Along](https://carnm.realtor/chugging-along/) - Despite continued macroeconomic headwinds, new capital continues to position the net lease market for another strong year.
- [CRE Can Withstand A Higher Rate Environment. Here’s Why](https://carnm.realtor/cre-can-withstand-a-higher-rate-environment-heres-why/) - Fed Chairman Jerome Powell has apparently ruled out more aggressive rate hikes in the future following a 50 basis point increase
- [Reality Goes Virtual in CRE](https://carnm.realtor/reality-goes-virtual-in-cre/) - Technologies used in gaming find new life in CRE. Virtual—the wrong term. Augmented is more like it. Vision, that is. Respectively known as VR and AR, the idea is often associated with games and other light uses, but it has potential in many industries, including commercial real estate, through such applications as navigation, enhanced information
- [Real Estate Has An Inflationary Income Risk](https://carnm.realtor/real-estate-has-an-inflationary-income-risk/) - Real estate is supposed to be a great inflation hedge, and it can be, so long as cash flow from rentals can increase fast enough to keep up with cap rate compression.
- [Does Increased Leasing Activity Signal Recovery for Retail Sector?](https://carnm.realtor/does-increased-leasing-activity-signal-recovery-for-retail-sector/) - Occupancy rates throughout the retail real estate industry have ticked up in recent months, leaving the sector on its best footing since before the pandemic.
- [Are Office Workers Happy with Hybrid Work Schedules?](https://carnm.realtor/are-office-workers-happy-with-hybrid-work-schedules/) - Some studies indicate hybrid work can be a challenge, as well as being a convenience. Over the past two years, flexibility in work location has become an expectation rather than a perk. Many employers have embraced the hybrid work model in an effort to pacify employees who want to work remotely, satisfy employees who want to come
- [Broker Sentiment Falls on Industrial. Yes, Industrial](https://carnm.realtor/broker-sentiment-falls-on-industrial-yes-industrial/) - That super hot industrial market? Brokers are losing confidence and seeing strain, according to the first quarter sentiment report
- [50-MW Solar Array Sending Power to ABQ](https://carnm.realtor/50-mw-solar-array-sending-power-to-abq/) - Renewable generation is now powering up nearly nine-tenths of all government operations in Albuquerque, following the inauguration of a new, 50-megawatt solar array at the Jicarilla Apache Nation. Mayor Tim Keller joined with public officials from Deming and Silver City, and from Santa Fe and Grant counties, to celebrate the plant’s opening on Earth Day
- [Albuquerque MRA Announces New Redevelopment Tax Abatement Program](https://carnm.realtor/mra-announces-new-tax-abatement-program-to-catalyze-redevelopment/) - The new Redevelopment Tax Abatement program offers a seven-year incremental property tax abatement to development in Metropolitan Redevelopment Areas. The program no longer requires applicants to also receive a city bond, reducing the cost and administrative burden. By restructuring this incentive and providing clear applicant criteria we hope that more developers, including smaller developers and adaptive
- [Lumber Prices Heading Up This Summer … Or Not](https://carnm.realtor/lumber-prices-heading-up-this-summer-or-not/) - The only certainty is its lack, and that lack of clarity is in abundance because today’s lumber market is unlike previous incarnations.
- [CRE Property Price Growth Slows for the First Time Since June 2020](https://carnm.realtor/cre-property-price-growth-slows-for-the-first-time-since-june-2020/) - After 17 straight months of increases, the headline rate for US commercial real estate property price growth finally slowed between February and March 2022
- [Beware the False Flight To Quality Narrative for Office](https://carnm.realtor/beware-the-false-flight-to-quality-narrative-for-office/) - Narratives around the so-called “flight to quality” are failing to move the needle on capital market performance
- [Rent Increases Threaten Sun Belt Affordability As Inflation Rises](https://carnm.realtor/rent-increases-threaten-sun-belt-affordability-as-inflation-rises/) - Year-over-year inflation ticked up to nearly 10% in cities like Atlanta and Phoenix. Continuously strengthening in-migration patterns across the Sun Belt are raising affordability concerns in the market, which has seen explosive population and rent growth since the onset of the COVID-19 pandemic. Average rents ticked up 16.8% across all property sizes in the region
- [Safe Banking Act Could Open Opportunities in Cannabis Investment](https://carnm.realtor/safe-banking-act-could-open-opportunities-in-cannabis-investment/) - The cannabis industry is growing rapidly, but for real estate owners, working with cannabis businesses still poses significant risk.
- [7 Post-Pandemic Commercial Property Tax Tips](https://carnm.realtor/7-post-pandemic-commercial-property-tax-tips/) - As post-pandemic market values fluctuate due to higher prices, property owners need to adopt strategies to keep their assessed property values down
- [Outlook for Big Box Remains Strong Despite Headwinds](https://carnm.realtor/outlook-for-big-box-remains-strong-despite-headwinds/) - The outlook for the industrial big box sector remains strong despite headwinds that include scarcity of suitable land, skyrocketing rents and ongoing supply chain woes.
- [Offices Adapt as Hybrid Work Becomes Normalized](https://carnm.realtor/offices-adapt-as-hybrid-work-becomes-normalized/) - There is no sugar coating it for office landlords: as employees return it is on hybrid work schedules.
- [The Retail Sector Waits to See If Consumers Will Stop Spending](https://carnm.realtor/the-retail-sector-waits-to-see-if-consumers-will-stop-spending/) - So far the retail sector has been resilient as consumers fret about rising prices.
- [Multifamily Deals Continued to Pile In During a Busy First Quarter](https://carnm.realtor/multifamily-deals-continued-to-pile-in-during-a-busy-first-quarter/) - Skyrocketing rents are continuing to drive interest from investors of all types towards multifamily properties across the country.
- [CRE Borrowers Move Toward Alternative Lending Amid Inflation, Rising Rates](https://carnm.realtor/cre-borrowers-move-toward-alternative-lending-amid-inflation-rising-rates/) - The go-to financing choices of CRE investors and developers are shifting as rising interest rates chase inflation amid clouds of uncertain
- [Data Center Investors Seek New Paths to Capital Deployment](https://carnm.realtor/data-center-investors-seek-new-paths-to-capital-deployment/) - Real estate investors seeking diversification and new entrants are behind the search for opportunities.
- [Property Prices Could Rise With Cap Rates Poised to Fall Even Further](https://carnm.realtor/property-prices-could-rise-with-cap-rates-poised-to-fall-even-further/) - Think cap rates are crazy low? They could drop even more as investors battle to own CRE income streams, according to a new analysis
- [Proposed SEC Climate Disclosures Could Require a Heavy Lift for Some CRE Firms](https://carnm.realtor/proposed-sec-climate-disclosures-could-require-a-heavy-lift-for-some-cre-firms/) - The main intent of the SEC rule is to provide transparency and consistency for investors around information related to emissions and climate-related risks.
- [Multifamily Investors Eye New Challenges After Banner Growth](https://carnm.realtor/multifamily-investors-eye-new-challenges-after-banner-growth/) - The multifamily market continued apace through 2021 as the investment champion, driven by a combination of strong demand, easy money and lack of supply.
- [When Will Investors Finally Balk at High Prices, Low Cap Rates?](https://carnm.realtor/when-will-investors-finally-balk-at-high-prices-low-cap-rates/) - Buying a CRE asset at a sub-5% cap rate is like buying a tech stock at a 100-price earnings ratio. Treasury rates are rising rapidly with the 10-Year treasury currently at 2.72% and up substantially from the pandemic low of .65% two years ago. A conundrum in this CRE market is that cap rates so
- [Here Come the Multifamily Headwinds](https://carnm.realtor/here-come-the-multifamily-headwinds/) - It’s tough to keep moving forward if you don’t consider what is waiting to trip you up. There are usually multiple ways to look at anything. In the case of the Yardi Matrix National Multifamily Report for March 2022, you could emulate the late lyricist Johnny Mercer: accentuate the positive, eliminate the negative, and don’t
- [Waiting For More Data on the Office Sector](https://carnm.realtor/waiting-for-more-data-on-the-office-sector/) - So far, the tea leaves aren't giving much guidance. By some measures, the office sector seems to have improved some, according to a new report from Colliers. However, questions remain, and arise, about where the market might be headed Last year closed out with some positive news, according to Colliers. For example, the Q1 2022
- [What the Fed Minutes Mean for CRE Investors](https://carnm.realtor/what-the-fed-minutes-mean-for-cre-investors/) - The Fed is poised to implement more hawkish policies, so “be ready for rate hikes.” Parsing the minutes of last month’s Fed meeting had many commercial real estate experts reading between the lines of what might happen to the sector in the short term, particularly as many within the Fed are advocating a 50 basis
- [Expect Another Big Summer for Multifamily](https://carnm.realtor/expect-another-big-summer-for-multifamily/) - Multifamily rents have increased significantly for new leases while concessions have tanked—and the sector is showing no signs of cooling off
- [Office Fit Outs Have Become More Expensive And Uncertain](https://carnm.realtor/office-fit-outs-have-become-more-expensive-and-uncertain/) - As companies experiment with hybrid work, fit outs will increase, creating even more demand for materials and labor.
- [April 2022 CCIM Deal Making Session Properties](https://carnm.realtor/april-2022-ccim-deal-making-session-properties/) - Thank you to all of the brokers, sponsors, and guests who attended the April 2022 CCIM NM Deal Making Session and to those who shared their properties. Click here to view source PDF. Click here to view the Thank Yous. Name Property, City Type Price 1. Barbara Cuoco Tom Jenkins, CCIM, SIOR 6301 & 6401 Jefferson
- [From Fairways to Forklifts](https://carnm.realtor/from-fairways-to-forklifts/) - Considering the growing demand for industrial real estate, golf courses are popular targets for conversion to warehouse and distribution centers.
- [NAR Commercial Market Insights- March 2022](https://carnm.realtor/nar-commercial-market-insights-march-2022/) - The commercial real estate market continued to see rising occupancy, rents, and investor acquisitions in February 2022
- [Are Multifamily, Industrial Price Increases Enough to Hedge Inflation?](https://carnm.realtor/are-multifamily-industrial-price-increases-enough-to-hedge-inflation/) - To say that multifamily and industrial sectors are hot is like noticing heat at the equator. Did anyone not already notice?
- [Here’s One Way to Avoid Taxes If the 1031 Is Eliminated](https://carnm.realtor/heres-one-way-to-avoid-taxes-if-the-1031-is-eliminated/) - REITs offer a strategy to do a type of swap without triggering a tax event. Commercial real estate professionals got worried in 2021 when the Biden administration floated its proposals to cut big tax reduction strategies, including 1031 like-exchanges. Congress didn’t move them into law, generating a giant collective sigh of relief in the CRE industry. But the
- [Smooth Sailing for Net Lease Cap Rates Until 2024. Then, Watch Out](https://carnm.realtor/smooth-sailing-for-net-lease-cap-rates-until-2024-then-watch-out/) - CBRE’s Levy predicts some cap rate expansion for new long-term net lease deals, “surprising upside” for retail he says is undervalued.
- [What Rising Interest Rates Mean for Apartment Cap Rates](https://carnm.realtor/what-rising-interest-rates-mean-for-apartment-cap-rates/) - Many in the investment community worry that increasing interest rates in the coming year might have an adverse effect on their apartment property values.
- [What The Recent Yield Curve Inversion Means For Investors](https://carnm.realtor/what-the-recent-yield-curve-inversion-means-for-investors/) - Last week’s very brief yield curve inversion has increased investor concern, but one expert is calling for cooler heads to prevail.
- [Growing Demand Continues to Drive New Data Center Development](https://carnm.realtor/growing-demand-continues-to-drive-new-data-center-development-2/) - The pandemic accelerated the use of digital platforms and cloud services, generating a surge in data center development that is attracting tons of capital.
- [Top Global Investors Stuck to Safe Asset Classes in 2021](https://carnm.realtor/top-global-investors-stuck-to-safe-asset-classes-in-2021/) - Global investors poured capital into commercial real estate in droves in 2021, though “it was not exactly a risk-on type of trend in acquisitions,”
- [Barclays: Office Demand Could Drop By 20% Amid Hybrid Work](https://carnm.realtor/barclays-office-demand-could-drop-by-20-amid-hybrid-work/) - Neither rents nor cap rates are particularly moving in the right direction for office owners. Global office demand could drop by between 10 and 20 percent in the long run as companies continue to grapple with the implications of hybrid work, Barclays analyst Lea Overby told CNBC this week. The sector has held up so well (relatively speaking)

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- [CARNM/CCIM Sponsorship Application](https://carnm.realtor/carnm-ccim-sponsorship-application/) - CARNM / CCIM Sponsorship Application Step 1 of 2 50% 2026 CARNM/CCIM NM Sponsor ApplicationI hereby apply as a sponsor to the Commercial Association of REALTORS® New Mexico and the CCIM New Mexico Chapter at the following level: Sponsor Level(Required) Titanium ($13,125) Platinum ($8,925) Gold ($7,350) Silver ($5,250) Bronze ($2,250) I understand that my application
- [CCIM Deal of The Year](https://carnm.realtor/ccim-deal-of-the-year-submission/)
- [CCIM Southwest Deal Making Session 9/25/25](https://carnm.realtor/ccim-southwest-deal-making-session/) - CCIM Southwest Deal Making Session • 3 minute maximum presentation time • 6 slide/page maximum per presentation format Broker Name - First and Last*Broker Designations CCIM SIOR CPM CIPS Broker 2 Name - First and LastBroker 2 Designations CCIM SIOR CPM CIPS Broker 3 Name - First and LastBroker 3 Designations CCIM SIOR CPM CIPS
- [CARNM REALTOR® of the Year Nomination Form](https://carnm.realtor/carnm-realtor-of-the-year-nomination/)
- [CCIM Scholarship Application](https://carnm.realtor/ccim-scholarship-application/)
- [CCIM Deal Making Session](https://carnm.realtor/ccim-deal-making-session/) - CCIM Deal Making Sesson CCIM Deal Making Session Please submit the Wednesday prior to the meeting date you wish to appear.Broker Name - First and Last*Broker Designations CCIM SIOR CPM CIPS Broker 2 Name - First and LastBroker 2 Designations CCIM SIOR CPM CIPS Broker 3 Name - First and LastBroker 3 Designations CCIM SIOR
- [CIE Application –  Qualifying Broker Participation](https://carnm.realtor/cie-application-qualifying-broker-participation/) - CIE Application – Qualifying Broker Participation "*" indicates required fields Qualifying Broker I HEREBY apply for participation in the Commercial Association of REALTORS® New Mexico (CARNM) Commercial Information Exchange (CIE). Please allow up to two business days to complete. Company*WebsiteType Of Firm Individual DBA Partnership Corporation Position with Firm Principal Partner Officer Trustee Qualifying Broker
- [CIE Application – REALTOR® Participation](https://carnm.realtor/cie-application-realtor-participationcarnm-membership-application-2/) - CIE Application – REALTOR® Participation REALTORS® I HEREBY apply for participation in the Commercial Association of REALTORS® New Mexico (CARNM) Commercial Information Exchange (CIE). Please allow up to two business days to complete. First Name*Last Name*Email* Enter Email Confirm Email Phone*Direct Work Phone*Mobile Phone*Company PhoneCompany*Company Address* Street Address Address Line 2 City State / Province
- [Find A Broker](https://carnm.realtor/find-a-broker/)
- [Property Search](https://carnm.realtor/property-search/)
- [LIN (Leasing Information Network) Property](https://carnm.realtor/lin-property-submission/) - LIN (Leasing Information Network) Property Presentation LIN Property Submission Please submit the Monday prior to the meeting date you wish to appear.Broker Name - First and Last*Broker 2 Name - First and LastBroker 3 Name - First and LastEmail* Enter Email Confirm Email Property Type*Property Address* Street Address Address Line 2 City State / Province
- [Governing Documents](https://carnm.realtor/governing-documents/)
- [Contact Us](https://carnm.realtor/contact-us/)
- [Ombuds Process](https://carnm.realtor/ombudsman-process/)
- [PropEconomic Development Request](https://carnm.realtor/economic-development-request/) - CARNM Economic Development Request Thank you for visiting the CARNM Economic Development Request Link. CARNM serves over 500 Commercial REALTORS® across the state and is the premier site utilized by Commercial Real Estate professionals in New Mexico to serve the needs of their clients. The CARNM Economic Development Request Form is a gateway for
- [RPAC](https://carnm.realtor/rpac/)
- [REALTOR® Benefits](https://carnm.realtor/realtor-benefits/)
- [Code of Ethics](https://carnm.realtor/code-of-ethics/)
- [IREM](https://carnm.realtor/irem/)
- [Property Search - For Sale or Lease](https://carnm.realtor/property-search-for-sale-or-lease/)
- [Property Search - For Lease](https://carnm.realtor/property-search-for-lease/)
- [Property Search - For Sale](https://carnm.realtor/property-search-for-sale/)
- [Getting Started in Commercial](https://carnm.realtor/about-commercial-real-estate/)
- [CARNM Forms](https://carnm.realtor/carnm-forms/)
- [Issues/Concerns](https://carnm.realtor/issues-concerns/)
- [NMREC Licensing](https://carnm.realtor/nmrec-licensing/)
- [CARNM Charity Golf Tournament 8/4/22](https://carnm.realtor/carnm-charity-golf-tournament-8-4-22/) - Life is good when you're golfing FORE charity! Register to play, sponsor, or donate! CARNM, as an association, has a goal of reaching out and making a difference in the community. Proceeds will benefit two New Mexico charities: New Mexico Cancer Center Foundation and Running 505. 2022 Beneficiaries: The New Mexico Cancer Center Foundation was formed in 2002 by the physicians of New
- [Commercial Property Industry Types](https://carnm.realtor/office-commercial-property-listings/)
- [Santa Fe](https://carnm.realtor/home-page/santa-fe-commercial-property/)
- [Las Cruces](https://carnm.realtor/home-page/las-cruces/)
- [Rio Rancho](https://carnm.realtor/home-page/rio-rancho-commercial-property-listings/)
- [Albuquerque](https://carnm.realtor/home-page/albuquerque/)
- [CCIM Education](https://carnm.realtor/ccim-education/)
- [President’s Award Recipients](https://carnm.realtor/presidents-award-recipients/)
- [Foreign Broker Violation](https://carnm.realtor/foreign-broker-violation/) - Foreign Broker Violation This page is intended to help New Mexico Real Estate Commission licensees confidentially report anyone who might be illegally practicing real estate in New Mexico. If you think someone might be in violation, please report it here. CARNM staff will forward all potential violations to the New Mexico Real Estate Commission.First Name
- [CARNM New Member Orientation](https://carnm.realtor/carnm-new-member-orientation/)
- [FAQ](https://carnm.realtor/faq/)
- [SIOR](https://carnm.realtor/sior/)
- [NAR Educational Opportunities](https://carnm.realtor/nar-educational-opportunities/)
- [CARNM Membership Application](https://carnm.realtor/carnm-membership-application/) - Membership Application "*" indicates required fields Personal InformationType of Membership Request:* Primary (You are NOT a member of another Association.) Secondary (You ARE a member of another Association. i.e. GAAR, SFAR, LCAR) First Name*MiddleLast Name*SuffixNickname (DBA)Home Address* Street Address City State / Province / Region ZIP / Postal Code Primary Email* Enter Email Confirm Email
- [Founder’s Award Recipients](https://carnm.realtor/founders-award-recipients/)
- [CIE Administrative Assistant Application](https://carnm.realtor/cie-application-assistant/) - CIE Administrative Assistant Application "*" indicates required fields Administrative Assistant Application I HEREBY apply for participation in the Commercial Association of REALTORS® New Mexico (CARNM) and the Commercial Information Exchange (CIE) in an administrative capacity and understand there is no fee for this service but a $100 processing fee applies. Please allow up to two
- [REALTORS® of the Year](https://carnm.realtor/realtors-of-the-year/)
- [Past Presidents](https://carnm.realtor/past-presidents/)
- [SIOR Educuation](https://carnm.realtor/sior-educuation/)
- [IREM Education](https://carnm.realtor/irem-education/)
- [Property Search Demo](https://carnm.realtor/property-search-demo/)
- [People-based Page](https://carnm.realtor/people-based-page/)
- [Become a Member](https://carnm.realtor/become-a-member/)
- [Full Page WYSIWYG](https://carnm.realtor/full-page-wysiwyg/)
- [Inner Page Template Test Page](https://carnm.realtor/inner-page-template-test-page/)
- [Catalyst Login](https://carnm.realtor/catalyst-login/)
- [Distinguished Affiliate](https://carnm.realtor/distinguished-affiliate/)

## Sponsors

- [Sunward](https://carnm.realtor/sponsors/sandia-laboratory-federal-credit-union/) - Sunward serves communities in Albuquerque and Farmington, NM and in Livermore, CA. In 1948, 15 employees of Sandia National Laboratories saw the need for a credit union in Albuquerque. Since then, Sunward has been dedicated to offering high value and outstanding personal service. Today, we not only serve SNL employees and their family members, but
- [TLC Plumbing](https://carnm.realtor/sponsors/tlc-plumbing/)
- [Enterprise Bank & Trust](https://carnm.realtor/sponsors/enterprise-bank-trust/)
- [First Citizens Bank](https://carnm.realtor/sponsors/first-citizens-bank/)
- [Nusenda Credit Union](https://carnm.realtor/sponsors/nusenda-credit-union/)
- [Klinger Constructors](https://carnm.realtor/sponsors/klinger-constructors/)
- [Fidelity National Title](https://carnm.realtor/sponsors/fidelity-national-title/) - Fidelity National Title New Mexico provides title insurance, underwriting, escrow and closing services to residential, commercial and industrial clients, lenders, developers, attorneys, real estate professionals and consumers. FNTIC also performs other title-related services such as: Escrow Reconveyances Recordings Attorney services Flood certification Credit reporting Collection and trust activities Trustee sales guarantees Real estate tax service
- [Centric Title & Escrow](https://carnm.realtor/sponsors/centric-title-escrow/)
- [Wells Fargo](https://carnm.realtor/sponsors/wells-fargo/) - Wells Fargo
- [WFG Title](https://carnm.realtor/sponsors/wfg-title/)
- [AIC General Contractor](https://carnm.realtor/sponsors/aic-general-contractor/) - 20 Years of Satisfied Clients We have a long history of doing whatever it takes to get a job done right, often accomplishing what other contractors said was impossible. Our Analyze-Innovate-Construct process starts with an in depth understanding our clients’ goals, and then develops innovative approaches that use our construction expertise to deliver high value solutions. Our success
- [Bank of Albuquerque](https://carnm.realtor/sponsors/bank-of-albuquerque/)
- [Old Republic Title](https://carnm.realtor/sponsors/old-republic-title/)
- [US Bank](https://carnm.realtor/sponsors/us-bank/)
- [Sunland Asphalt & Construction, LLC](https://carnm.realtor/sponsors/ace-asphalt/)
- [Paul Davis Restoration of NM, Inc.](https://carnm.realtor/sponsors/paul-davis-restoration-of-nm-inc/)
- [My Auction Addiction](https://carnm.realtor/sponsors/my-auction-addiction/)
- [First National 1870](https://carnm.realtor/sponsors/first-national-1870/)
- [First American Title Company](https://carnm.realtor/sponsors/first-american-title-insurance-company/)

## People

- [Neda Talebreza](https://carnm.realtor/people/neda-talebreza/)
- [Daniel Kearney](https://carnm.realtor/people/daniel-kearney/)
- [Clay Azar CCIM](https://carnm.realtor/people/clay-azar-ccim/)
- [Greg Leach SIOR](https://carnm.realtor/people/greg-leach-sior-2/)
- [Thomas Mortensen](https://carnm.realtor/people/thomas-mortensen/)
- [Riley McKee CCIM, SIOR](https://carnm.realtor/people/riley-mckee-ccim-sior/)
- [Austin Tidwell CCIM](https://carnm.realtor/people/austin-tidwell-ccim/)
- [Elisa Cardenas CCIM](https://carnm.realtor/people/elisa-cardenas-ccim/)
- [Lisa Mercer CCIM](https://carnm.realtor/people/lisa-mercer-ccim/)
- [Lisa Ortega](https://carnm.realtor/people/shelly-branscom-ccim-4/)
- [Shirley Anderson](https://carnm.realtor/people/jake-mechenbier/)
- [Jeremy Salazar CCIM](https://carnm.realtor/people/teresa-manzanares/)
- [Keith Bandoni CCIM, SIOR](https://carnm.realtor/people/dave-hill-ccim-sior/)
- [DJ Brigman CCIM, SIOR](https://carnm.realtor/people/dj-brigman-ccim-sior/)
- [Shelly Branscom CCIM](https://carnm.realtor/people/shelly-branscom-ccim/) - In Recognition of Shelly Branscom, CCIM For your vision, dedication, and outstanding leadership in advancing the commercial real estate industry and representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership, as well as the New Mexico Association of REALTORS®, the National Association of REALTORS®, and the CCIM Institute. Your
- [DJ Brigman CCIM, SIOR](https://carnm.realtor/people/dj-brigman-ccim-sior-2/)
- [Greg Leach SIOR](https://carnm.realtor/people/greg-leach-3/) - For his unwavering dedication and exceptional commitment to the Commercial Association of REALTORS® New Mexico. His unparalleled expertise in technology, coupled with your remarkable efforts in collaborating with our new vendor to craft a cutting-edge Commercial Information Exchange platform, is a testament to your incredible vision and leadership.
- [Debbie Harms CCIM, CPM, SIOR](https://carnm.realtor/people/debbie-harms-ccim-cpm-sior/) - For her many years of outstanding service in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership through her expert advisement on commercial real estate issues. Her invaluable guidance has played a significant role in shaping the organization’s strategy and fostering its continued growth. Her leadership in developing
- [Tai Alley CCIM](https://carnm.realtor/people/tai-alley-ccim-2/) - In appreciation for his many years of creativity, vision, and volunteer service as a Commercial REALTOR® in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership as the chair of the CARNM CIE Committee.
- [Shona Martinez](https://carnm.realtor/people/shona-martinez/)
- [M. Bernardine Cde Baca CPM](https://carnm.realtor/people/m-bernardine-cde-baca-cpm/)
- [Greg Leach SIOR](https://carnm.realtor/people/greg-leach-sior/)
- [Greg Leach SIOR](https://carnm.realtor/people/greg-leach-4/)
- [George Smith, RCE](https://carnm.realtor/people/george-smith-2/)
- [Greg Leach SIOR](https://carnm.realtor/people/greg-leach-2/) - In appreciation for his many years of creativity, vision, and volunteer service as a Commercial REALTOR® in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership with the progressive success of the Annual Charity Golf Tournament. We are grateful for your drive to consistently improve the tournament and your innovativeness
- [Ray Regan CCIM, CIPS](https://carnm.realtor/people/ray-regan-cips-2/) - In appreciation for his many years of vision, volunteer service, and leadership in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership as the chair of the CARNM Governance Committee and commercial advocate on the Forms Committee. As a Commercial REALTOR®, your dedication to helping the association and working
- [Shelly Branscom CCIM](https://carnm.realtor/people/shelly-branscom-ccim-3/)
- [Shelly Branscom, CCIM](https://carnm.realtor/people/shelly-branscom-ccim-2/)
- [Vic Bruno](https://carnm.realtor/people/vic-bruno-2/)
- [Tai Alley CCIM](https://carnm.realtor/people/tai-alley-ccim/)
- [Debbie Dupes CCIM](https://carnm.realtor/people/debbie-dupes-ccim-4/)
- [Kendra Yevoli, RCE](https://carnm.realtor/people/kendra-yevoli/) - In appreciation for her many years of creativity, vision, and service in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership.
- [Tim MacEachen, CCIM, SIOR](https://carnm.realtor/people/tim-maceachen-ccim-sior-4/)
- [Clay Azar, CCIM](https://carnm.realtor/people/clay-azar-ccim-3/)
- [Tim MacEachen, CCIM, SIOR](https://carnm.realtor/people/tim-maceachen-ccim-sior-3/) - For your many years of unconditional volunteerism as you serve the best interests of REALTORS® and the commercial real estate industry. As a Commercial REALTOR® for over 40 years, every REALTOR® benefits from your proven dedication, commitment, insight, and leadership as you set an exceptional, bar-raising example. We are grateful for your consistent drive and sacrifice.
- [Clay Azar, CCIM](https://carnm.realtor/people/clay-azar-ccim-2/)
- [Rich Diller, CCIM, SIOR](https://carnm.realtor/people/rich-diller-ccim-sior-2/) - In Recognition of Rich Diller, CCIM, SIOR in appreciation of his outstanding volunteer service, dedication, industry experience, leadership and integrity in helping found the Commercial Association of REALTORS® New Mexico (CARNM) in 1994 and 1995, to meet the needs of commercial real estate practitioners and enhance the professionalism of the industry. His goals and vision
- [Todd Clarke, CCIM](https://carnm.realtor/people/todd-clarke-ccim-3/) - In Recognition of Todd Clarke, CCIM for your vision, outstanding volunteer service, dedication, integrity, and leadership in bringing together local leaders in the commercial real estate industry with the goal of organizing a professional organization that provides educational opportunities and ensures adherence to the code of ethics. And, for your service as a founding member
- [Walt Arnold, CCIM, SIOR](https://carnm.realtor/people/walt-arnold-ccim-sior-3/) - In Recognition of Walt Arnold, CCIM, SIOR for your outstanding volunteer service, dedication, integrity, and leadership in helping found the Commercial Association of REALTORS® New Mexico (CARNM), to meet the needs of commercial real estate practitioners and enhance professionalism of the industry. As CARNM’s third president, your goals and vision in the real estate profession
- [Ty Robeck](https://carnm.realtor/people/ty-robeck-2/) - In Recognition of Ty Robeck for your distinguished service benefitting the Commercial Association of REALTORS® New Mexico and its membership and the REALTOR® organization.
- [William N. (Bill) Campbell III, CCIM](https://carnm.realtor/people/william-n-bill-campbell-iii-ccim/) - In Recognition of William N. “Bill” Campbell III for his outstanding volunteer service in navigating the REALTORS® Association of New Mexico’s legal and political framework while gaining approval for CARNM’s application as the first statewide Commercial Overlay Board in the United states, and for negotiating significantly reduced state dues for a period of ten years
- [Vic Bruno](https://carnm.realtor/people/vic-bruno-3/) - In Recognition of Vic Bruno for your outstanding volunteer service and unselfish dedication in helping to found a REALTOR affiliated board, the Commercial Association of REALTORS New Mexico (CARNM), to meet the needs of commercial real estate practitioners and enhance the professionalism of the industry. As CARNM’s 2nd president, your vision, integrity and experience in
- [Dan Hernandez](https://carnm.realtor/people/dan-hernandez-2/) - In Recognition of Dan Hernandez for your many years of outstanding dedication and unselfish volunteer service on numerous committees as well as CARNM’s 2009 President. Especially noteworthy is your willingness to graciously serve in any capacity as requested at the local, state, and national levels, which is very appreciated. As a commercial REALTOR®, you represent
- [Debbie Dupes, CCIM](https://carnm.realtor/people/debbie-dupes-ccim-3/) - In Recognition of Debbie Dupes, CCIM for your vision, dedication, volunteer service, and outstanding leadership in creating the exceptional event that we now recognize as Intersections. You brought together 7 commercial real estate organizations to host this Event which fosters professionalism and offers an exceptional educational experience. As a Commercial REALTOR®, you represent the best
- [Carl Grending, CCIM](https://carnm.realtor/people/carl-grending-ccim-2/) - In Recognition of Carl Grending, CCIM for his many years of outstanding volunteer service in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership as a Commercial REALTOR® member and in his significant role with the Albuquerque Coalition for a Healthy Economy and the proposed Albuquerque Ordinance.
- [Keith Meyer, CCIM, SIOR](https://carnm.realtor/people/keith-meyer-ccim-sior/) - In Recognition of Keith Meyer, CCIM, SIOR for his many years of outstanding volunteer service in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership as a Commercial REALTOR® member and in his significant role with the City of Albuquerque’s revisions to the Comprehensive Plan and the Integrated Development
- [Jim Wible, CCIM](https://carnm.realtor/people/jim-wible-ccim-3/) - In Recognition of Jim Wible, CCIM for his many years of outstanding volunteer service in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership as a Commercial REALTOR® member and in his significant role with the City of Albuquerque’s revisions to the Comprehensive Plan and the Integrated Development Ordinance.
- [Todd Clarke, CCIM](https://carnm.realtor/people/todd-clarke-ccim-4/) - In Recognition of Todd Clarke, CCIM for your many years of outstanding volunteer service as a Commercial REALTOR® in representing the best interests of the Commercial Association of REALTORS® New Mexico and its membership as a Commercial REALTOR®, the REALTORS® Association of New Mexico, the National Association of REALTORS®, and the CCIM Institute, and in
- [John Lewinger](https://carnm.realtor/people/john-lewinger/) - In Special Recognition of John Lewinger for his many years of service in the promotion of commercial real estate and representation in many roles as a member of CARNM. For his community service as a commercial real estate practitioner as Past President of the CNM Foundation, Past President of NAIOP, and Past President of the
- [Tim MacEachen, CCIM, SIOR](https://carnm.realtor/people/tim-maceachen-ccim-sior-2/) - In Recognition of Tim MacEachen, CCIM, SIOR for his may years of outstanding volunteer service in representing the best interests of the Commercial Association of REALTORS® NM and its membership as a Commercial REALTOR® member of the state REALTORS® Political Action Committee and in securing New Mexico’s first Broker Lien Law and beneficial changes to
- [Tim House](https://carnm.realtor/people/tim-house-2/) - In Recognition of Timothy L. House for his may years of outstanding volunteer service in representing the best interests of the Commercial Association of REALTORS® NM and its membership as a Commercial REALTOR® member of the state REALTORS® Political Action Committee and in securing New Mexico’s first Broker Lien Law and beneficial changes to the
- [Dave Hill, CCIM, SIOR](https://carnm.realtor/people/dave-hill-ccim-2/)
- [Mike Leach, SIOR](https://carnm.realtor/people/mike-leach-sior/)
- [Rich Diller, CCIM, SIOR](https://carnm.realtor/people/rich-diller-ccim-sior/)
- [Chuck Gara](https://carnm.realtor/people/chuck-gara/)
- [John M. Henderson III](https://carnm.realtor/people/john-m-henderson-iii/)
- [Trudy Jones](https://carnm.realtor/people/trudy-jones-2/)
- [Karen Hudson](https://carnm.realtor/people/karen-hudson/)
- [Lia Petty Armstrong, CCIM](https://carnm.realtor/people/lia-petty-armstrong-ccim/)
- [Tim With, CCIM](https://carnm.realtor/people/tim-with-ccim/)
- [Debbie Harms CCIM, SIOR, CPM](https://carnm.realtor/people/debbie-harms-ccim-sior-cpm/)
- [Debbie Dupes, CCIM](https://carnm.realtor/people/debbie-dupes-ccim-2/)
- [Joe Farr, CCIM](https://carnm.realtor/people/joe-farr-ccim/)
- [Jim Wible, CCIM](https://carnm.realtor/people/jim-wible-ccim-2/)
- [Jim Smith, CCIM, SIOR](https://carnm.realtor/people/jim-smith-ccim-sior-3/)
- [Dan Newman](https://carnm.realtor/people/dan-newman-2/)
- [Brian Anderson, CCIM](https://carnm.realtor/people/brian-anderson-ccim-2/)
- [Jane Pilger, CCIM](https://carnm.realtor/people/jane-pilger-ccim-2/)
- [Barbara K. Morgan](https://carnm.realtor/people/barbara-k-morgan/)
- [Richard Hanna, CCIM](https://carnm.realtor/people/richard-hanna-ccim-2/)
- [Jim Cynoweth](https://carnm.realtor/people/jim-cynoweth/)
- [Terri Dettweiler](https://carnm.realtor/people/terri-dettweiler-2/)
- [Walt Arnold, CCIM, SIOR](https://carnm.realtor/people/walt-arnold-ccim-sior-2/)
- [Todd Clarke, CCIM](https://carnm.realtor/people/todd-clarke-ccim-2/)
- [Jim Smith, CCIM, SIOR](https://carnm.realtor/people/jim-smith-ccim-sior-2/)
- [Tom Franchini, CCIM](https://carnm.realtor/people/tom-franchini-ccim-2/)
- [Dave Hill, CCIM](https://carnm.realtor/people/dave-hill-ccim/)
- [Sean McMullan, CCIM](https://carnm.realtor/people/sean-mcmullan-ccim-2/)
- [Ed Anlian, CCIM](https://carnm.realtor/people/ed-anlian-ccim/)
- [Marguerite Haverly](https://carnm.realtor/people/marguerite-haverly/)
- [Jim Wible, CCIM](https://carnm.realtor/people/jim-wible-ccim/)
- [Carl Grending, CCIM](https://carnm.realtor/people/carl-grending-ccim/)
- [Dan Newman](https://carnm.realtor/people/dan-newman/)
- [Debbie Harms, CCI, SIOR, CPM](https://carnm.realtor/people/debbie-harms-cci-sior-cpm/)
- [Dan Hernandez](https://carnm.realtor/people/dan-hernandez/)
- [Brian Anderson, CCIM](https://carnm.realtor/people/brian-anderson-ccim/)
- [Tim House](https://carnm.realtor/people/tim-house/)
- [Barbara Morgan](https://carnm.realtor/people/barbara-morgan/)
- [Jane Pilger, CCIM](https://carnm.realtor/people/jane-pilger-ccim/)
- [Richard Hanna, CCIM](https://carnm.realtor/people/richard-hanna-ccim/)
- [Dave Vincioni](https://carnm.realtor/people/dave-vincioni/)
- [Trudy Jones](https://carnm.realtor/people/trudy-jones/)
- [Jim Chynoweth](https://carnm.realtor/people/jim-chynoweth/)
- [Terri Dettweiler](https://carnm.realtor/people/terri-dettweiler/)
- [Linda Hartley](https://carnm.realtor/people/linda-hartley/)
- [Walt Arnold, CCIM, SIOR](https://carnm.realtor/people/walt-arnold-ccim-sior/)
- [Todd Clarke, CCIM](https://carnm.realtor/people/todd-clarke-ccim/)
- [Vic Bruno](https://carnm.realtor/people/vic-bruno/)

## Events

- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-7/) - Location: 723 Silver Ave SW, Albuquerque, NM 87102 Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [CARNM Golf Tournament](https://carnm.realtor/event/carnm-golf-tournament/) - The Commercial Association of REALTORS® New Mexico invites you to the 2026 Annual Charity Golf Tournament at Twin Warriors Golf Club on Thursday, August 6, 2026. Whether you’re registering as an individual, bringing a full foursome or would like to sponsor, we hope you'll join us for an incredible day of networking, golf, and community
- [Foundations for Success in Commercial Real Estate (Las Cruces)](https://carnm.realtor/event/foundations-for-success-in-commercial-real-estate-las-cruces/) - August 13-14, 2026 in Las Cruces Learn in a traditional classroom environment. Interact and network with other professionals in a collaborative, small-group setting. This two-day classroom course provides agents, brokers, students, and allied professionals with an understanding of the skills, resources, and business practices that pave the way for success in commercial real estate. Through
- [Independence Day (Observed)- Office Closed](https://carnm.realtor/event/independence-day-office-closed-2/)
- [2026 NMREC Core](https://carnm.realtor/event/2026-nmrec-core-4/) - August 18, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person CNM Workforce Training Center – 5600 Eagle Rock Ave NE, Albuquerque, NM 87113 Instructors: Amanda Velarde CCIM & Joe Farr CCIM The NMREC Core Course is an annual requirement for maintaining your real estate license. This year’s course will feature an exploration
- [2026 CARNM Member & Sponsor Social](https://carnm.realtor/event/2026-carnm-member-sponsor-social/) - Join fellow CARNM members and our valued sponsors for an evening of appreciation, networking, and connection. This event is our opportunity to thank the members and sponsors whose involvement and support help strengthen CARNM and the commercial real estate community. We look forward to celebrating the relationships that make our organization and industry successful. Registration
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-5/) - Location: Montgomery Centre Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [APOD/LOI](https://carnm.realtor/event/apod-loi/) - July 30, 2026 | 1:00 p.m. – 5:00 p.m. 4 CE Credits | In-Person NAI SunVista – 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructors: Dave Hill CCIM, SIOR & Scott Whitefield SIOR Two-part course: APOD (Investment Analysis); Learn the tools and jargon used in doing a preliminary analysis (underwriting) of an investment property.
- [2026 NMREC Core](https://carnm.realtor/event/2026-nmrec-core-3/) - June 9, 2026 | 9:00 a.m. – 1:00 p.m. 4 CE Credits | Virtual Virtual Instructors: Todd Clarke CCIM, CIPS & Amanda Velarde CCIM The NMREC Core Course is an annual requirement for maintaining your real estate license. This year’s course will feature an exploration of essential topics, including: Errors & Omissions Insurance Qualifying Broker
- [Commercial Leases](https://carnm.realtor/event/commercial-leases/) - July 30, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person NAI SunVista - 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructor: Debbie Harms CCIM, SIOR, CPM Content Includes: Understanding the different facets of the lease agreement, preventing misunderstanding and avoiding conflicts, and learning to easily explain eminent domain, subordination,
- [NAR Code of Ethics and Enforcement](https://carnm.realtor/event/nar-code-of-ethics-and-enforcement/) - August 27, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | Virtual Virtual Instructor: Bob Arguelles At some point, everyone is faced with making the decision on how to handle a situation ethically. This course examines the process of ethical decision making in a variety of business and real estate situations. You will
- [2026 NMREC Core](https://carnm.realtor/event/2026-nmrec-core-5/) - October 15, 2026 | 9:00 a.m. – 1:00 p.m. 4 CE Credits | Virtual Virtual Instructors: Todd Clarke CCIM, CIPS & Amanda Velarde CCIM The NMREC Core Course is an annual requirement for maintaining your real estate license. This year’s course will feature an exploration of essential topics, including: Errors & Omissions Insurance Qualifying Broker
- [Zen and the Art of Commercial Property Management](https://carnm.realtor/event/zen-and-the-art-of-commercial-property-management-2/) - November 5, 2026 | 8:00 a.m. – 2:30 p.m. 6 CE Credits | In-Person NAI SunVista - 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructor: Debbie Harms CCIM, CPM, SIOR This course is designed as a 6 hour core course for property management. This class teaches the requirements under the NM law, as
- [Property Managers Guide to ADA Compliance](https://carnm.realtor/event/property-managers-guide-to-ada-compliance/) - December 3, 2026 | 1:00 p.m. – 3:00 p.m. 2 CE Credits | In-Person CNM Workforce Training Center – 5600 Eagle Rock Ave NE, Albuquerque, NM 87113 Instructor: Irwin Harms This course will give property managers a better understanding of the Americans with Disabilities Act (ADA) and tools to use to see if your managed properties
- [2026 NMREC Core](https://carnm.realtor/event/2026-nmrec-core-6/) - December 3, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person CNM Workforce Training Center – 5600 Eagle Rock Ave NE, Albuquerque, NM 87113 Instructors: Bob Arguelles & Joe Farr CCIM The NMREC Core Course is an annual requirement for maintaining your real estate license. This year’s course will feature an exploration of
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-3/) - Location: 4410 Wyoming Blvd NE Suite A, Albuquerque, NM 87111 | View Flyer Here Host: Austin Tidwell CCIM Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [2026 NMREC Core](https://carnm.realtor/event/2026-nmrec-core/) - April 2, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person NAI SunVista- 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructors: Debbie Harms CCIM, SIOR, CPM & Dave Hill CCIM SIOR The NMREC Core Course is an annual requirement for maintaining your real estate license. This year's course will feature an
- [Zen and the Art of Commercial Property Management](https://carnm.realtor/event/zen-and-the-art-of-commercial-property-management/) - March 24, 2026 | 8:00 a.m. – 2:30 p.m. 6 CE Credits | In-Person NAI SunVista - 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructor: Debbie Harms CCIM, SIOR, CPM This course is designed to educate brokers on the intricacies of property management through thought, absorption, and insight. It will help you understand
- [Business Ethics in Real Estate](https://carnm.realtor/event/business-ethics-in-real-estate/) - March 19, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person CNM Workforce Training Center - 5600 Eagle Rock Ave NE, Albuquerque, NM 87113 Instructor: Lyn Carter At some point, everyone is faced with making the decision on how to handle a situation ethically. This course examines the process of ethical decision making
- [2026 NMREC Core](https://carnm.realtor/event/2026-nmrec-core-2/) - April 10, 2026 | 9:00 a.m. – 1:00 p.m. 4 CE Credits | In-Person Farmington, NM Instructor: Joe Farr CCIM The NMREC Core Course is an annual requirement for maintaining your real estate license. This year's course will feature an exploration of essential topics, including: Errors & Omissions Insurance Qualifying Broker Supervision Associate Broker Responsibilities
- [Managing the Health of the Property](https://carnm.realtor/event/managing-the-health-of-the-property/) - May 7, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person NAI SunVista - 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructor: Irwin Harms This course teaches property managers that a property/building needs to be treated as a living thing. Maintaining health is an important aspect to managing. Gain a
- [2026 NMREC Core Course](https://carnm.realtor/event/2026-nmrec-core-course/) - February 5, 2026 | 8:00 a.m. – 12:00 p.m. 4 CE Credits | In-Person NAI SunVista- 2424 Louisiana blvd NE Suite 100, Albuquerque, NM 87110 Instructors: Debbie Harms CCIM, CPM, SIOR & Dave Hill CCIM, SIOR The NMREC Core Course is an annual requirement for maintaining your real estate license. This year’s course will feature an
- [2025 NMREC Commercial Core Course](https://carnm.realtor/event/2025-nmrec-commercial-core-course/) - January 20, 2026 | 9:00 a.m. – 1:00 p.m. 4 CE Credits | Virtual Instructors: Bob Arguelles & Amanda Velarde CCIM The NMREC Core Course is an annual requirement for maintaining your real estate license. This year’s course will feature an exploration of essential topics, including: Errors & Omissions Insurance Qualifying Broker Supervision Associate Broker
- [Intersections- Save the Date!](https://carnm.realtor/event/intersections-save-the-date/) - Stay tune for more information to come!
- [LIN Marketing Meeting-3525 4th st NW](https://carnm.realtor/event/lin-marketing-meeting-3525-4th-st-nw/) - Location: Calle Cuarta- 3525 4th st NW, Albuquerque, NM 87107 Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-2/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [CCIM/LIN Holiday Party](https://carnm.realtor/event/ccim-lin-holiday-party/) - Location: TBD Consider hosting the CCIM/LIN Holiday Party! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-15/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-14/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-13/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-12/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [LIN Marketing Meeting](https://carnm.realtor/event/lin-marketing-meeting-4/) - Location: Still Needed Consider hosting a LIN Meeting! If you are interested in hosting in 2026, please contact Jeremy Salazar at jsalazar@resolutre.com or (505) 859-2975. Download LIN Marketing Meeting Host Form | View Guest Policy
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-7/) - September 2, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-9/) - November 4, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-8/) - October 7, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-6/) - August 5, 2026 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-5/) - June 3, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-4/) - May 6, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-3/) - April 1, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne-2/) - March 4, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [CCIM Deal Making Session – GAAR (1635 University Blvd NE)](https://carnm.realtor/event/ccim-deal-making-session-gaar-1635-university-blvd-ne/) - February 4, 2026 @ 8:00 am – 9:00 am Networking begins at 7:30 am. Deal Making Session Guest Policy | Property Submission Guidelines & Deal Making Overview Hybrid Meeting Policy | Hybrid Meeting Policy Click here to visit the CCIM New Mexico website.
- [New Year's Day- Office Closed](https://carnm.realtor/event/new-years-day-office-closed/)
- [New Year's Eve- Office Closed](https://carnm.realtor/event/new-years-eve-office-closed/)
- [Christmas Day- Office Closed](https://carnm.realtor/event/christmas-day-office-closed-2/)
- [Christmas Eve- Office Closed](https://carnm.realtor/event/christmas-eve-office-closed/)
- [Thanksgiving Holiday- Office Closed](https://carnm.realtor/event/thanksgiving-holiday-office-closed-2/)
- [Veteran's Day- Office Closed](https://carnm.realtor/event/veterans-day-office-closed-2/)
- [Indigenous Peoples'/Columbus Day- Office Closed](https://carnm.realtor/event/indigenous-peoples-columbus-day-office-closed/)
- [Labor Day-Office Closed](https://carnm.realtor/event/labor-day-office-closed-2/)
- [Memorial Day-Office Closed](https://carnm.realtor/event/memorial-day-office-closed-2/)
- [President's Day- Office Closed](https://carnm.realtor/event/presidents-day-office-closed/)
- [Martin Luther King Jr Day- Office Closed](https://carnm.realtor/event/martin-luther-king-jr-day-office-closed/)

## Categories

- [All News](https://carnm.realtor/category/news/)
- [Market Trends](https://carnm.realtor/category/trends/)
- [COVID-19](https://carnm.realtor/category/covid-19/)
- [Meetings](https://carnm.realtor/category/meetings/)

## Tags

- [TRIA](https://carnm.realtor/tag/tria/)
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- [investors](https://carnm.realtor/tag/investors/)
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- [environmental protection agency](https://carnm.realtor/tag/environmental-protection-agency/)
- [rule changes](https://carnm.realtor/tag/rule-changes/)
- [commercial business](https://carnm.realtor/tag/commercial-business/)
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- [industrial sector](https://carnm.realtor/tag/industrial-sector/)
- [signature series](https://carnm.realtor/tag/signature-series/)
- [federal reserve board](https://carnm.realtor/tag/federal-reserve-board/)
- [effective marketing](https://carnm.realtor/tag/effective-marketing/)
- [retail spaces](https://carnm.realtor/tag/retail-spaces/)
- [sales transaction](https://carnm.realtor/tag/sales-transaction/)
- [sales volume](https://carnm.realtor/tag/sales-volume/)
- [s industrial](https://carnm.realtor/tag/s-industrial/)
- [sba loans](https://carnm.realtor/tag/sba-loans/)
- [risk based capital](https://carnm.realtor/tag/risk-based-capital/)
- [albuquerque journal](https://carnm.realtor/tag/albuquerque-journal/)
- [apartment market](https://carnm.realtor/tag/apartment-market/)
- [business outlook](https://carnm.realtor/tag/business-outlook/)
- [commercial mortgage backed securities](https://carnm.realtor/tag/commercial-mortgage-backed-securities/)
- [mortgage backed securities](https://carnm.realtor/tag/mortgage-backed-securities/)
- [real estate market](https://carnm.realtor/tag/real-estate-market/)
- [risk](https://carnm.realtor/tag/risk/)
- [commercial buildings](https://carnm.realtor/tag/commercial-buildings/)
- [energy costs](https://carnm.realtor/tag/energy-costs/)
- [retrofits](https://carnm.realtor/tag/retrofits/)
- [retrofitting](https://carnm.realtor/tag/retrofitting/)
- [mosca](https://carnm.realtor/tag/mosca/)
- [nsf](https://carnm.realtor/tag/nsf/)
- [monetary policy](https://carnm.realtor/tag/monetary-policy/)
- [equity capital](https://carnm.realtor/tag/equity-capital/)
- [recession](https://carnm.realtor/tag/recession/)
- [forbes magazine](https://carnm.realtor/tag/forbes-magazine/)
- [murfreesboro](https://carnm.realtor/tag/murfreesboro/)
- [real estate research](https://carnm.realtor/tag/real-estate-research/)
- [san antonio texas](https://carnm.realtor/tag/san-antonio-texas/)
- [commercial property investment](https://carnm.realtor/tag/commercial-property-investment/)
- [housing and urban development](https://carnm.realtor/tag/housing-and-urban-development/)
- [restructuring](https://carnm.realtor/tag/restructuring/)
- [state and local government](https://carnm.realtor/tag/state-and-local-government/)
- [new homes](https://carnm.realtor/tag/new-homes/)
- [economist lawrence](https://carnm.realtor/tag/economist-lawrence/)
- [vacancies](https://carnm.realtor/tag/vacancies/)
- [retail sector](https://carnm.realtor/tag/retail-sector/)
- [landlords](https://carnm.realtor/tag/landlords/)
- [property management](https://carnm.realtor/tag/property-management/)
- [fitch ratings](https://carnm.realtor/tag/fitch-ratings/)
- [apartment buildings](https://carnm.realtor/tag/apartment-buildings/)
- [sam zell](https://carnm.realtor/tag/sam-zell/)
- [foreclosure](https://carnm.realtor/tag/foreclosure/)
- [foreclosures](https://carnm.realtor/tag/foreclosures/)
- [las vegas](https://carnm.realtor/tag/las-vegas/)
- [health](https://carnm.realtor/tag/health/)
- [existing home sales](https://carnm.realtor/tag/existing-home-sales/)
- [rising oil prices](https://carnm.realtor/tag/rising-oil-prices/)
- [commercial space](https://carnm.realtor/tag/commercial-space/)
- [real estate sectors](https://carnm.realtor/tag/real-estate-sectors/)
- [vacation home sales](https://carnm.realtor/tag/vacation-home-sales/)
- [condos](https://carnm.realtor/tag/condos/)
- [money pit](https://carnm.realtor/tag/money-pit/)
- [rental property](https://carnm.realtor/tag/rental-property/)
- [market trend](https://carnm.realtor/tag/market-trend/)
- [seller client](https://carnm.realtor/tag/seller-client/)
- [business laws](https://carnm.realtor/tag/business-laws/)
- [health care reform](https://carnm.realtor/tag/health-care-reform/)
- [irs form 1099](https://carnm.realtor/tag/irs-form-1099/)
- [linda goold](https://carnm.realtor/tag/linda-goold/)
- [obama](https://carnm.realtor/tag/obama/)
- [business growth](https://carnm.realtor/tag/business-growth/)
- [free webinars](https://carnm.realtor/tag/free-webinars/)
- [networking](https://carnm.realtor/tag/networking/)
- [mortgage interest deduction](https://carnm.realtor/tag/mortgage-interest-deduction/)
- [residential markets](https://carnm.realtor/tag/residential-markets/)
- [financial accounting standards](https://carnm.realtor/tag/financial-accounting-standards/)
- [financial accounting standards board](https://carnm.realtor/tag/financial-accounting-standards-board/)
- [international accounting standards board](https://carnm.realtor/tag/international-accounting-standards-board/)
- [job creation](https://carnm.realtor/tag/job-creation/)
- [patents](https://carnm.realtor/tag/patents/)
- [road to recovery](https://carnm.realtor/tag/road-to-recovery/)
- [nbsp](https://carnm.realtor/tag/nbsp/)
- [sales slip](https://carnm.realtor/tag/sales-slip/)
- [advocacy efforts](https://carnm.realtor/tag/advocacy-efforts/)
- [commercial advocacy](https://carnm.realtor/tag/commercial-advocacy/)
- [common sense](https://carnm.realtor/tag/common-sense/)
- [recovery act](https://carnm.realtor/tag/recovery-act/)
- [coldwell banker](https://carnm.realtor/tag/coldwell-banker/)
- [office warehouse](https://carnm.realtor/tag/office-warehouse/)
- [princeton business park](https://carnm.realtor/tag/princeton-business-park/)
- [roger cox](https://carnm.realtor/tag/roger-cox/)
- [retail commercial](https://carnm.realtor/tag/retail-commercial/)
- [grubb](https://carnm.realtor/tag/grubb/)
- [land for sale](https://carnm.realtor/tag/land-for-sale/)
- [s jones](https://carnm.realtor/tag/s-jones/)
- [vacant land](https://carnm.realtor/tag/vacant-land/)
- [respondents](https://carnm.realtor/tag/respondents/)
- [s market](https://carnm.realtor/tag/s-market/)
- [recovery](https://carnm.realtor/tag/recovery/)
- [commerical real estate](https://carnm.realtor/tag/commerical-real-estate/)
- [europe](https://carnm.realtor/tag/europe/)
- [bill armstrong](https://carnm.realtor/tag/bill-armstrong/)
- [equity gap](https://carnm.realtor/tag/equity-gap/)
- [realtor magazine](https://carnm.realtor/tag/realtor-magazine/)
- [scope](https://carnm.realtor/tag/scope/)
- [estate organizations](https://carnm.realtor/tag/estate-organizations/)
- [becoming a landlord](https://carnm.realtor/tag/becoming-a-landlord/)
- [industrial real estate](https://carnm.realtor/tag/industrial-real-estate/)
- [market survey](https://carnm.realtor/tag/market-survey/)
- [multifamily housing](https://carnm.realtor/tag/multifamily-housing/)
- [office sector](https://carnm.realtor/tag/office-sector/)
- [republican leader](https://carnm.realtor/tag/republican-leader/)
- [raw land development](https://carnm.realtor/tag/raw-land-development/)
- [xceligent](https://carnm.realtor/tag/xceligent/)
- [albuquerque metro area](https://carnm.realtor/tag/albuquerque-metro-area/)
- [commercial transactions](https://carnm.realtor/tag/commercial-transactions/)
- [sales transactions](https://carnm.realtor/tag/sales-transactions/)
- [economic data](https://carnm.realtor/tag/economic-data/)
- [workforce solutions](https://carnm.realtor/tag/workforce-solutions/)
- [business facilities](https://carnm.realtor/tag/business-facilities/)
- [economic development](https://carnm.realtor/tag/economic-development/)
- [government affairs](https://carnm.realtor/tag/government-affairs/)
- [charter school](https://carnm.realtor/tag/charter-school/)
- [charter schools](https://carnm.realtor/tag/charter-schools/)
- [commercial investors](https://carnm.realtor/tag/commercial-investors/)
- [school space](https://carnm.realtor/tag/school-space/)
- [real estate commission](https://carnm.realtor/tag/real-estate-commission/)
- [roach realtors](https://carnm.realtor/tag/roach-realtors/)
- [albuquerque commercial real estate](https://carnm.realtor/tag/albuquerque-commercial-real-estate/)
- [commercial real estate for sale](https://carnm.realtor/tag/commercial-real-estate-for-sale/)
- [major commercial real estate](https://carnm.realtor/tag/major-commercial-real-estate/)
- [commercial real estate albuquerque](https://carnm.realtor/tag/commercial-real-estate-albuquerque/)
- [libor](https://carnm.realtor/tag/libor/)
- [property deals](https://carnm.realtor/tag/property-deals/)
- [scandal](https://carnm.realtor/tag/scandal/)
- [chamber of commerce](https://carnm.realtor/tag/chamber-of-commerce/)
- [greater albuquerque chamber of commerce](https://carnm.realtor/tag/greater-albuquerque-chamber-of-commerce/)
- [mexico economy](https://carnm.realtor/tag/mexico-economy/)
- [commercial property albuquerque](https://carnm.realtor/tag/commercial-property-albuquerque/)
- [new mexico commercial real estate](https://carnm.realtor/tag/new-mexico-commercial-real-estate/)
- [new mexico office buildings for lease](https://carnm.realtor/tag/new-mexico-office-buildings-for-lease/)
- [new mexico office buildings for sale](https://carnm.realtor/tag/new-mexico-office-buildings-for-sale/)
- [industrial buildings](https://carnm.realtor/tag/industrial-buildings/)
- [industrial real estate albuquerque](https://carnm.realtor/tag/industrial-real-estate-albuquerque/)
- [industrial vacancies](https://carnm.realtor/tag/industrial-vacancies/)
- [residential real estate](https://carnm.realtor/tag/residential-real-estate/)
- [gary ralston](https://carnm.realtor/tag/gary-ralston/)
- [saunders](https://carnm.realtor/tag/saunders/)
- [repurposing commercial](https://carnm.realtor/tag/repurposing-commercial/)
- [securities and exchange commission](https://carnm.realtor/tag/securities-and-exchange-commission/)
- [demographics](https://carnm.realtor/tag/demographics/)
- [echo boomers](https://carnm.realtor/tag/echo-boomers/)
- [todd clarke](https://carnm.realtor/tag/todd-clarke/)
- [eisenberg](https://carnm.realtor/tag/eisenberg/)
- [james hughes](https://carnm.realtor/tag/james-hughes/)
- [rutgers university](https://carnm.realtor/tag/rutgers-university/)
- [capacity utilization](https://carnm.realtor/tag/capacity-utilization/)
- [repository](https://carnm.realtor/tag/repository/)
- [statistics](https://carnm.realtor/tag/statistics/)
- [disclosure](https://carnm.realtor/tag/disclosure/)
- [industrial property](https://carnm.realtor/tag/industrial-property/)
- [schedule a deductions](https://carnm.realtor/tag/schedule-a-deductions/)
- [commercial real estate investment](https://carnm.realtor/tag/commercial-real-estate-investment/)
- [deloitte](https://carnm.realtor/tag/deloitte/)
- [cap rates](https://carnm.realtor/tag/cap-rates/)
- [multifamily properties](https://carnm.realtor/tag/multifamily-properties/)
- [retail rates](https://carnm.realtor/tag/retail-rates/)
- [fha](https://carnm.realtor/tag/fha/)
- [mortgages](https://carnm.realtor/tag/mortgages/)
- [fannie freddie](https://carnm.realtor/tag/fannie-freddie/)
- [fannie mae](https://carnm.realtor/tag/fannie-mae/)
- [fannie mae and freddie mac](https://carnm.realtor/tag/fannie-mae-and-freddie-mac/)
- [fhfa](https://carnm.realtor/tag/fhfa/)
- [freddie mac](https://carnm.realtor/tag/freddie-mac/)
- [gses](https://carnm.realtor/tag/gses/)
- [housing finance agency](https://carnm.realtor/tag/housing-finance-agency/)
- [impac](https://carnm.realtor/tag/impac/)
- [income distribution](https://carnm.realtor/tag/income-distribution/)
- [research publication](https://carnm.realtor/tag/research-publication/)
- [commercial investment](https://carnm.realtor/tag/commercial-investment/)
- [disciplinary actions](https://carnm.realtor/tag/disciplinary-actions/)
- [mexico real estate](https://carnm.realtor/tag/mexico-real-estate/)
- [respa](https://carnm.realtor/tag/respa/)
- [risk management](https://carnm.realtor/tag/risk-management/)
- [rules changes](https://carnm.realtor/tag/rules-changes/)
- [equity reits](https://carnm.realtor/tag/equity-reits/)
- [sequester](https://carnm.realtor/tag/sequester/)
- [urban land institute](https://carnm.realtor/tag/urban-land-institute/)
- [Industry News](https://carnm.realtor/tag/industry-news/)

## Positions

- [Board Members](https://carnm.realtor/position/board-members/)
- [Past Presidents](https://carnm.realtor/position/past-presidents/)
- [REALTORS® of the Year](https://carnm.realtor/position/realtors-of-the-year/) - The CARNM REALTOR® of the Year Award is meant for those members who choose to support CARNM, the commercial real estate industry, and the community in ways that are considered extraordinary. The CARNM REALTOR® of the Year Award reflects the highest form of recognition for personal and professional achievement by a member of CARNM.
- [President’s Award Recipients](https://carnm.realtor/position/presidents-award-recipients/)
- [Founder’s Award Recipients](https://carnm.realtor/position/founders-award-recipients/)
- [Staff](https://carnm.realtor/position/staff/)

## Event Categories

- [CE Credits](https://carnm.realtor/events/category/ce-credits/)
- [LIN Marketing Meeting](https://carnm.realtor/events/category/lin-meeting/)
- [CARNM Office Hours](https://carnm.realtor/events/category/carnm-office-hours/)
- [CCIM Deal Making Session](https://carnm.realtor/events/category/ccim-deal-making-session/)
- [Education](https://carnm.realtor/events/category/education/)
- [CCIM](https://carnm.realtor/events/category/ccim/)
- [Golf Tournament](https://carnm.realtor/events/category/golf-tournament/)
- [Intersections](https://carnm.realtor/events/category/intersections/)