| |
|
Colliers Meredith & Grew is pleased to provide a copy of its Second Quarter 2008 Market Viewpoint, including commentary on trends and significant transactions in the metropolitan Boston real estate and capital markets. A section is included on each of the following: Boston, Cambridge, Suburbs, Investment Sales, and Capital Markets.
Halfway through 2008, the leasing markets appear "stuck in neutral." Net absorption was 575,000 square feet during the second quarter, and totaled just over 1 million square feet for the first six months of 2008. Despite the positive absorption, the addition of over a half million square feet of new supply has kept the vacancy rate unchanged at 14.3% since the fourth quarter 2007. Demand is steady, however, and there has been no significant increase in sublease activity — usually an early indicator of a negative market turn.
The ongoing volatility in the global capital markets and mortgage lending markets has slowed investment sales volume considerably. Life insurance companies and banks have virtually taken over the lending arena for commercial real estate, which has caused increased scrutiny, tighter underwriting standards, and higher premiums than 12 months ago.
Contact Mary Sullivan Kelly at 617.330.8059 for more information.
  viewpoint_q2_08.pdf
Email Report Link To Your Friend
|
|