As we keep up with workplace trends, the changing workplace and technology, web ve written before about Apple appealing to the business world as well as tablets like the iPad and smartphones like the iPhone changing the way business gets done.
Now, Apple Chief Executive Officer Steve Jobs is set to speak June 6 about new cloud computing options and new iPad and iPhone software, according to Bloomberg Businessweek.
Apple will be offering iCloud, a service designed to let people store content on remote servers instead of their hard drives. The new Apple software update, Mac OS Lion, is going to be closely tied to handheld software updates.
Does your business use any Apple products? Do you expect these new updates will affect how you do business? Let us know.
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Institutional investors came in ahead of real estate investment trusts (REITs) in the first quarter as the leading buyers of office buildings in the nation, according to Bloomberg. This news implies greater demand, which is expected to help increase office property prices. From Bloomberg:
b Buyers including pension funds, insurance companies and sovereign-wealth funds added a net $1.39 billion to their office-building holdings in the first quarter, compared with $1.1 billion for REITs, according to data from CoStar Group Inc. (CSGP).b
Office sales in the first quarter reached more than $10 billion, an amount more than twice that from the same time the previous year. You can read more about institutional investors, commercial mortgage-backed securities and stock offerings in this Bloomberg article. It offers a helpful look at office commercial real estate in the first quarter.
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Although hiring has been increasing in South Florida, the areab s unemployment rate has remained shaky, according to The Miami Herald. In Miami-Dade County, unemployment rose from 12.9 percent to 13.1 percent. Fortunately, in Broward County, the unemployment rate actually fell from 9.3 percent to 8.9 percent.
Together, Miami and Broward gained close to 16,000 jobs last month, and more than 9,000 of them were added in the professional sector. Coming in close behind, hospitality in the area added 8,000 new jobs.
Miami-Dadeb s additional jobs totaled 10,000 in April, down from 11,900 in March. Browardb s numbers looked more optimistic, gaining 5,700 new jobs in April, up from 3,400 in March. Despite the job increases in Miami, the countyb s jobless rate still grew since more people were looking for work.
You can read more about South Florida unemployment in The Miami Herald.
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A panel of commercial real estate professionals at the recent Commercial Real Estate Outlook noted the Miami CRE picture looking up, according to Miami Today. The optimism is due to new foreign investors interested in South Florida, the Panama Canal dredging project and increasing leasing activity.
Miamib s industrial sector is doing better than predicted in terms of vacancy, and office vacancy rates are expected to fall as well.B One panelist even suggested that the Miami office market will be a landlord market in 2012. Foreign investors are also helping to drive the local recovery, as they notice the great potential of doing business in Miami, a gateway city that has been attracting more and more people.
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A recent column in National Real Estate Investor posed an excellent question: “Is the Gap Between Residential and Commercial Values Structural or Cyclical?” Victor Calanog, the columnist, points out that usually, the values of residential and commercial properties tend to mirror each other. But lately, commercial real estate is showing signs of improvement, albeit slow, while home prices have stayed extremely low. According to Canalog, the head of research and economics for New York-based research firm Reis:
b Standard theory from urban economics suggests that the same basic forces influence demand for both housing and commercial real estate, according to seminal papers written by economists Sherwin Rosen and Jennifer Robackb &.b
But recently, the values of commercial real estate, including office properties, have been modestly increasing, although home prices are dancing near the bottom. So, why this difference now and what does it mean? Head over to NREI to read the whole article, and share your thoughts.
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The industrial sector of commercial real estate is showing modest improvement, according to a recent Greater demand and smaller supply are helping to boost warehouse rents, and this improvement should continue since there’s not expected to be any significant addition of supply. CoStar reports:
b Quarterly construction starts are also at all-time lows, with just 3 million square feet in the first quarter, compared with quarterly numbers ranging from 40 million to 64 million square feet through most of the last decade.b
You can learn more about steadying warehouse rents from CoStar. If youb re searching for industrial real estate in the South Florida area, contact Morris Southeast Group. We have expertise in industrial properties.
With e-commerce on the rise, people werenb t sure how high-speed Internet would affect the retail sector of commercial real estate. Though it naturally seems like e-commerce could hurt physical retail stores, Why? Firstly, consumers can use the Internet to comparison shop, which ultimately reduces the amount of time they spend shopping when they go to pick up an item in a storeb which, in turn, encourages them to do more shopping since now it takes less time. Many consumers still want to see or touch goods before they purchase, so they still go into a physical store to get this experience; they just have more direction after researching online.
Secondly, retailers can use the Internet to help directly market their goods and build a community of loyal customers. According to David Lynn in the NREI article:
b To date, the Internet presents more opportunities than drawbacks for brick-and-mortar retailers. Multi-channel retailing has translated into more effective retail business models and will be a vital part of retail strategy going forward.b
What do you think about the effect of e-commerce on retail CRE?
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Web ve discussed a little bit about businesses and buildings going green, especially related to the government incentives for energy efficiency in commercial real estate, as well as the 2010 Green Building Survey, which revealed that going green is taking hold in CRE.
More recently, this still seems to be the case. Building owners are still working on improving the energy efficiency of their buildings, noted Henry Chamberlain, the president and chief operating officer of the Building Owners and Managers Association International, in an interview. From REIT.com:
b Owners are taking note of b anything that integrates the different technologies in the building so that the energy systems and security systems are all running off of one server,b according to Chamberlain. b Sustainable, high performance buildings are here to stay, and that’s going to create the value.b b
More money is being spent on these improvements in coastal and gateway cities rather than secondary and tertiary markets. Visit REIT.com for more information.
Image via thegreenenergyblog.com