TCN netWORKING: TCN Worldwide Deals, Industry News and Weekly Highlights (4.2.24)
Eric Odum, Managing Broker of Florida ROI Commercial Property Brokerage in Tampa, Florida, shares the transformative impact of TCN Worldwide membership over the past five years. Joining TCN Worldwide in 2019, Florida ROI goes beyond mere brokerage, their role encompasses property management and tenant occupier services. Eric emphasizes TCN Worldwide's Annual Conferences as playing a pivotal role in building vital connections with like-minded peers navigating similar challenges. These gatherings serve as catalysts for collaborative problem-solving, as evidenced by Eric's own experience implementing innovative solutions recommended by fellow TCN members.
Eric underscores the invaluable growth and connectivity TCN has fostered and encourages everyone to attend this year's TCN Worldwide Fall Conference in Calgary, being held Sept. 22-25, 2024.?We look forward to seeing the TCN Worldwide community in Calgary this fall!
If you’re interested in learning more about TCN Worldwide, or potentially attending one of our events, please contact us at [email protected].
CRE Industry News, Top Stories:
MSCI Real Assets said the RCA CPPI National All-Property Index fell in February, declining 4.0% since February of 2023. Although this represents the slowest pace of annual decline the index has posted since the end of 2022, the pace of decline in monthly returns has been accelerating. The index fell 0.3% in February from January.
Driven by nearly $49 billion in funding for new technologies like generative AI over the past three years, the San Francisco Bay Area maintains its rank as the top city across the globe for both innovation and talent. ?
TCN News, Deal Announcements & Member Highlights:
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Katie Trevena, senior vice president, Real Estate Advisory – Forte Real Estate Partners, worked with Bradshaw & Bryant, a 15-person law firm, to identify and secure a new 10-year lease on the 5th floor of Golden Hills Office Center, Golden Valley, in less than 3 months.
“Given the time constraints based on our unique situation, we greatly relied on the Forte Real Estate Partners team to navigate us through site selection, lease negotiations and assisted throughout the construction and relocation process. Forte showed extreme professionalism and reliability,” said Mike Bryant-Bradshaw & Bryant.
LevRose Commercial Real Estate proudly announces its inclusion in AZ Big Media's esteemed 2024 edition of Ranking Arizona, The Best of Arizona Businesses. Earning a spot among the top 10 for Medical, Multi-Family, and Retail brokerage firms is a testament to LevRose Commercial Real Estate's dedication to delivering exceptional results for its clients across diverse sectors. Additionally, the company secured a coveted place among the top overall firms with 28 brokers or more.
MS&C Commercial is proud to recognize its top-performing commercial advisors for their outstanding accomplishments throughout 2023. Their pursuit of excellence, dedication to their customers, and reputation as trusted guides to a complex market enable them to consistently deliver exceptional results. We commend their years of experience and their ongoing contributions to the communities they serve.
Though Pittsburgh’s Industrial real estate market remained stable throughout 2023, there are indicators that 2024 could bring some slight softening in vacancies, rents, and investment levels. While a cooling at the national level will impact demand in Pittsburgh, its effects are unlikely to be significant. Because Pittsburgh is not a distribution hub, construction has always been constrained and there is little risk of over-saturation. The market’s net absorption of industrial space was a robust 1.7 million SF in 2023, and local vacancies hovered around 5.5% throughout the entirety of the year.
About TCN Worldwide:
TCN Worldwide, a consortium of independent commercial real estate firms, provides complete integrated real estate solutions locally and internationally. Established in 1989, TCN Worldwide stands as a prominent figure in the commercial real estate industry, ranking among its largest service providers. As an alliance of premier independent brokerage firms serving more than 200 primary and secondary markets worldwide, TCN Worldwide provides comprehensive integrated solutions across North America, Asia, Europe, the Middle East, and Australia.
With an expansive array of real estate services and an unwavering commitment to exceeding client expectations, TCN Worldwide member firms represent approximately $47.3 billion in transactions annually across 70+ offices and more than 1,500 commercial real estate professionals.
For more information on TCN Worldwide, visit www.TCNWorldwide.com.