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Monthly Archives: March 2011
Housing construction grossly overstated
By: Alexander Lopez / Caribbean Business
March 24, 2011
Total number of units may actually be half of the 20,000 official figure, sources say; slow sales prompt developers to put off plans for second phases, additional towers
Burlington accelerates $30 million local-market expansion
By: Frances Ryan / Caribbean Business
March 24, 2011
The New Jersey-based Burlington store chain continues full-speed ahead with its local expansion plan. Still a relative newcomer to the local retail scene, Burlington prepares to open its fourth store this week in Ponce.
Recession leads to dramatic increase in real-estate auctions
By: Alexander Lopez / Caribbean Business
March 24, 2011
Buyers benefit from lower prices, while sellers (including the island’s banks) move their otherwise stuck properties; ‘We make it up in volume’
Viceroy Anguilla files for bankruptcy; Starwood Capital aims to buy resort
By: CB Online Staff / Caribbean Business
March 17, 2011
The owner of Viceroy Anguilla Resort and Residences in Anguilla announced Thursday it has filed for Chapter 11 bankruptcy to pave the way for the sale of the luxury property on the exclusive Caribbean island.
Job Growth Bodes Well for Commercial Real Estate Recovery
By: CCIM.com Newscenter
March 11, 2011
Private-sector employers generated 222,000 jobs in February, the fourth-largest monthly increase in five years. This is a clear indication that the recovery has gained significant positive momentum, according to Marcus & Millichap’s blog, The Research Brief.
Home builders keep up effort to make construction taxes, fees level across island
By: Eva Llorens / Caribbean Business
March 9, 2011
The Home Builders Association (HBA) is again lobbying the Legislature to make excise taxes, environmental-impact fees and city business taxes uniform all across Puerto Rico to reduce construction costs and home prices, and help jumpstart the construction industry, which has lost more than 50,000 jobs and continues to [...]
New FHA requirements to severely hurt condo sales
By : Alexander Lopez / Caribbean Business
March 10, 2011
Stricter qualification guidelines for condominiums adopted by the Federal Housing Administration (FHA) as of Jan. 1 could significantly affect condo values and pose a daunting obstacle for prospective buyers.
Industrial Rebound Could Absorb 200 Million SF in 2011
By Paul Rosta, Senior Editor / Commercial Property Executive
March 2, 2011
If positive economic trends continue throughout 2011, absorption in the U.S. industrial market could hit 200 million square feet for the year, according to projections by Colliers International.
Are Rule Makers Backing Off New Accounting Standards For Leases?
By: Randyl Drummer / CoSTAR GROUP
March 2, 2011
Two international accounting authorities appear to be moving to scale down proposed new standards that would require landlords and tenants to account for real estate and equipment leases as assets or liabilities on their balance sheets. Many in the commercial real estate industry regard the new rules as [...]
Investors Returning To Retail Single Building by Single Building