Stay in the Loop With These 5 Must Reads From July
Welcome back to LoopedIn — a monthly recap of the most noteworthy articles on commercial real estate trends, projects and market insights to help you navigate the industry and stay in the loop.
In July, we went against the grain and zeroed in on the projects and markets defying current real estate industry norms. From a deep dive on one southern industrial city that is booming despite a national slowdown; to the multifamily markets that offer high rent growth even as the metric broadly declines; and the gradual ways that notoriously difficult office-to-residential conversion projects are becoming more feasible, these stories offer opportunities to capitalize on current market conditions.
July’s Top 5 Must Reads
Deal of the Month: Golf Resort Chips in 14% Cap for Eagle-Eyed Investor
We teed up our latest “Deal of the Month” column, a series that takes a closer look behind the scenes of a unique or notable non-institutional deal, with this Minnesota golf resort that recently sold with a 14% cap rate. The scenic resort was once called a “must-play” by Golf Magazine, and sold for $4.5 million in an example of how the rebounding hospitality sector is driving success for investors.
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. But Savannah, Georgia, the fourth-biggest port by cargo volume in the country, benefits from a unique set of factors that position it for sustained growth through the national industrial downshift. We looked at why Savannah is emerging as a major industrial hub that defies national trends.
Hollywood Romance: A Mixed-Use Project Helps Preserve a Golden Age Cinema
Single-screen cinemas might sound like a relic of the past, but this family-owned theater in Vancouver has been restored to its former glory as a 650-seat, single-screen cinema and performing arts venue after sitting vacant for 10 years. A 40-unit apartment building with retail space rounds out the mixed-use development, which shows how revitalizing a heritage property can benefit both a development project and the local community.
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5 Multifamily Properties Under $5 Million in Rent Growth Markets
Rent growth in the multifamily sector has been slowing across the United States. Yet some markets, mostly in the Midwest and Northeast, continue to see rent growth above the national average of 1.2%. For investors seeking upside in the multifamily sector, we compiled a list of properties available for under $5 million in five markets where rent growth outpaced the rest of the country in Q2 2023.?
Office-to-Resi Is Becoming More Reasonable, Expert Says
Office-to-residential adaptive reuse conversions are notoriously difficult, but they could be getting easier thanks to growing knowledge and experience, an expert says. He breaks down four factors that are simplifying the process.
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