Over the past month, we’ve faced with a heated presidential election, an administration transition and a second wave of the COVID-19 pandemic. Government’s reaction has been to test more people and restrict movement in an attempt the contain the virus until vaccines can be approved and distributed. At the start of the fourth quarter 2020, …
The COVID-19 business shutdown was rapid as it spread over the national and local economies throwing them into a recession in the second quarter 2020. Recessions are typically market resets, but this was an external shock to the system. It poses the question: will a slow and gradual return back to normal be different? So, …
Over the past month, we have all been faced with unprecedented economic and social upheaval precipitated by the COVID-19 pandemic. This global health crisis has caused the U.S. GDP to plummet and unemployment to shoot upward in what is now being termed the “Great Suppression”. The biggest concerns at this time – beyond the life, …
The cumulative risk of the travel bans, school and university closings, the closing or adjusted of hours to stores, restaurants and pubs, canceling of court trials and religious services, and postponing of all sports games and social events, could lead us into a negative feedback loop. A negative feedback loop is a reaction that causes …
At the approximate midpoint of 2018 we are seeing local transaction remaining robust. We have summarized notable commercial real property sales located throughout Delaware below that have occurred between May and July 2018. Assets summarized below range from apartments, vacant land, retail shopping centers, office buildings, net leased real investments, industrial buildings, self-storage and special …
Nationally, nine years into the expansion economists expect a jump in economic growth in 2018. Real gross domestic product (GDP) growth, which was 2.3 percent in 2017, is forecast to rise to 2.8 percent in 2018. Higher levels of economic growth are anticipated to continue into 2019 with economists predicting a 2.5 to 2.9 percent …
Did You Know – July 2017 According to the Wall Street Journal, the median size of a new single-family home declined for the first time since 2009, slipping two percent to 2,422 square feet in 2016. This is only the third time in the last 20 years that it has fallen, according to U.S. Census Bureau. …
As of the 1st Quarter 2017 CoStar reports Delaware’s retail inventory of almost 30 million square feet operating at a 5.5 percent vacancy rate; this is slightly higher than their reported national retail vacancy rate of 4.8 percent. Hunters Crossing Apartments in Newark, Delaware sold on June 1, 2017 for $52.5 million, or $77,206 per unit for its 680 apartment units. The …
Commercial Real Estate Market Facts – October 2016 The 4-story office building located at 1000 Uniquema Blvdin New Castle sold in early October 2016 for $2.3 million, or about $38 per square foot. Two, suburban office buildings at 242 & 248 Chapman Roadand totaling 143,941 square feet sold in August 2016 for $15.5 million, or $107.68 per …