<?xml version="1.0" encoding="utf-8"?>
<rss version="2.0" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom">
	<channel>
		<title>Commercial Real Estate is Pretty Much Doing What We Expected It To Do, Returning to Reality</title>
		<description>Discuss Commercial Real Estate is Pretty Much Doing What We Expected It To Do, Returning to Reality</description>
		<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality</link>
		<lastBuildDate>Mon, 20 May 2013 21:19:06 +0000</lastBuildDate>
		<generator>JComments</generator>
		<atom:link href="http://boombustblog.com/component/jcomments/feed/com_k2/1852/10" rel="self" type="application/rss+xml" />
		<item>
			<title>Reggie Middleton says:</title>
			<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1645</link>
			<description><![CDATA[In CNBC, "Shopping Center Vacancy Rates Rose in Second Quarter": http://www.cnbc.com/id/38123345 Retailers shuttered more stores in U.S. shopping centers during the second quarter, further delaying a rebound in the struggling retail real estate market, according to research firm Reis Inc. TheTruthAbout... Shopping centers and strip malls have been pounded harder than other types of real estate, hurt by weak consumer spending, anemic job growth and an oversupply built to serve new housing that never materialized. "Until we see stabilization and recovery take root in both consumer spending and business spending and employment, we do not foresee a recovery in the retail sector until late 2012 at the earliest," said Victor Calanog, Reis director of research. For U.S. strip centers, the vacancy rate in the second quarter rose 0.10 percentage point from the first quarter to 10.9 percent, slightly below the 11 percent in 1991 during the prior real estate bust, according to the Reis quarterly report, released on Wednesday. Retailers gave up 1.85 million square feet of occupied space in the second quarter at neighborhood shopping centers, while developers opened less than 400,000 square feet of new strip mall space. That compares with an average of about 7 million to 8 million square feet of shopping centers built each year from about 2001, according to Reis. Unlike the office or apartment real estate sectors, a meaningful recovery in retail real estate is expected to be very sluggish, Calanog said. Rents are not expected to return to 2008 levels before 2016, he said. "It's really the one sector where because of persistent overbuilding across time, things will really get way down and even a recovery defined by a bottoming out will be pretty tepid," he said. A recovery also will depend on type of real estate, tenants and location, he added. Asking rents fell 0.3 percent from the first quarter to $19.07 per square foot, the lowest since the end of 2006, according to the report. Factoring in months of free rent and other perks landlords offered to attract and retain tenants, effective rent fell 0.5 percent to $16.58 per square foot, the lowest in nearly five years. Reis said that roughly half of its clients plan to take advantage of the cheap rents in their expansion plans. "Only about 20 percent expressed such sentiments in the first quarter, and none were in a position to plan for expansion in 2009 for obvious reasons," Calanog said. This also ties in closely with "The Conundrum of Commercial Real Estate Stocks: In a CRE “Near Depression”, Why Are REIT Shares Still So High and Which Ones to Short?" from last week: http://boombustblog.com/reggie-middleton/2010/06/30/the-conundrum-of-commercial-real-estate-stocks-in-a-cre-near-depression-why-are-reit-shares-still-so-high-and-which-ones-to-short/]]></description>
			<dc:creator>Reggie Middleton</dc:creator>
			<pubDate>Wed, 07 Jul 2010 12:43:27 +0000</pubDate>
			<guid>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1645</guid>
		</item>
		<item>
			<title>Reggie Middleton says:</title>
			<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1644</link>
			<description><![CDATA[I am not sure what kind of reply you are anticipating. I made a very long post on what I considered manipulation and fraud in the CRE space. I recommend you read it to get a broad perspective of my thoughts on the situation.]]></description>
			<dc:creator>Reggie Middleton</dc:creator>
			<pubDate>Wed, 07 Jul 2010 12:38:54 +0000</pubDate>
			<guid>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1644</guid>
		</item>
		<item>
			<title>Kenny G says:</title>
			<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1642</link>
			<description><![CDATA[I'm new to the game and loss big on srs an skf....im now waiting to recoup what i can if the manipulation is over..... please reply]]></description>
			<dc:creator>Kenny G</dc:creator>
			<pubDate>Sun, 04 Jul 2010 06:05:16 +0000</pubDate>
			<guid>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1642</guid>
		</item>
		<item>
			<title>Matto says:</title>
			<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1876</link>
			<description><![CDATA[Someone on zerohedge kindly posted this link. Click the bank on the right of the pie chart and check their delinquincies. http://www.wlmlab.com/main.asp]]></description>
			<dc:creator>Matto</dc:creator>
			<pubDate>Thu, 20 May 2010 06:45:17 +0000</pubDate>
			<guid>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1876</guid>
		</item>
		<item>
			<title>Reggie Middleton says:</title>
			<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1882</link>
			<description><![CDATA[Fraud and misrepresentati on, perhaps may be a good guess...]]></description>
			<dc:creator>Reggie Middleton</dc:creator>
			<pubDate>Wed, 19 May 2010 16:31:41 +0000</pubDate>
			<guid>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1882</guid>
		</item>
		<item>
			<title>hmc says:</title>
			<link>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1883</link>
			<description><![CDATA[Why the hell is MAC still over $40 and SRS under $30? Crazy! Can anyone think of any reason that they should not collapse this year?]]></description>
			<dc:creator>hmc</dc:creator>
			<pubDate>Wed, 19 May 2010 15:55:25 +0000</pubDate>
			<guid>http://boombustblog.com/reggie-in-the-news/item/1852-commercial-real-estate-is-pretty-much-doing-what-we-expected-it-to-do-return-to-reality#comment-1883</guid>
		</item>
	</channel>
</rss>
