Growth Of Rental Industries – BCN Stay http://bcn-stay.com/ Wed, 23 Nov 2022 02:34:39 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://bcn-stay.com/wp-content/uploads/2021/06/icon-2-150x150.png Growth Of Rental Industries – BCN Stay http://bcn-stay.com/ 32 32 HBH’s rebranding reflects the growth of an active industry https://bcn-stay.com/hbhs-rebranding-reflects-the-growth-of-an-active-industry/ Wed, 23 Nov 2022 02:05:58 +0000 https://bcn-stay.com/hbhs-rebranding-reflects-the-growth-of-an-active-industry/ Through homes, care and community, HBH Group’s mission is to create opportunities for all older adults to live fuller lives, regardless of their circumstances. HBH Senior Living has created HBH Group, a new brand that supports its group of retirement homes, villages and community services for the elderly. In the 45 years since Howick Baptist […]]]>

Through homes, care and community, HBH Group’s mission is to create opportunities for all older adults to live fuller lives, regardless of their circumstances.

HBH Senior Living has created HBH Group, a new brand that supports its group of retirement homes, villages and community services for the elderly.

In the 45 years since Howick Baptist Healthcare was founded in 1977, the charity has grown significantly. From a single nursing home and hospital in Howick’s Union Road, HBH now owns and operates several retirement homes, villages and community outreach services.

“The HBH Group is at the heart of our retirement homes and our services,” says Bonnie Robinson, CEO of the HBH Group. “As we have grown over the years, our offering has become more complex. The new name reflects this growth and allows us to achieve our mission more fully.

“More than a name change, we’ve also refreshed HBH’s vision, mission and brand promise to better reflect that our philosophy of care extends to all seniors in our community, not just those who live in our care facilities,” she explains.

“Through homes, care and community, our mission is to create opportunities for all older people to live fuller lives, regardless of their circumstances.”

Now called HBH Senior Living Howick Views, the group’s flagship facility at Howick in Union Road has expanded in recent years. Today it offers a state-of-the-art 97-bed hospital and 32-bed nursing home, as well as self-catering apartments, a popular day program for the wider community, and respite care for families and caregivers. .

As of 2020, HBH also owns and manages Gulf Views, a 45-bedroom nursing home in Cockle Bay, now renamed HBH Senior Living Gulf Views. “It was an opportune time to update the names of the two locations to reflect the expanded views and to help people identify them more easily,” says Robinson.

“These changes won’t affect the excellent, responsive care we’re known for,” Robinson says. “They are just one more step towards realizing our vision to create more opportunities for older people to age well and live fully.”

One of the key tenets of the HBH Group philosophy is the belief that all older people should have a safe, healthy and age-friendly place, regardless of where they choose to live.

For this reason, the group also shares its expertise with other nursing homes through managed service contracts. The group runs Gracedale, a modern 36-room hospital and nursing home in Mount Roskill, and Shalom Court, a nursing home and hospital in St Johns focused on providing personalized, faith-based care in a small, family environment. .

The lack of social housing for older people in Auckland remains a growing problem, so in 2017 HBH purchased Stevenson Village in Howick to ensure a continuous supply of affordable rental housing for older people.

With few other agencies specializing in affordable housing for seniors, supply is becoming increasingly limited, while demand is growing rapidly. Stats NZ estimates that the number of people aged 65 and over in New Zealand will double over the next 50 years, meaning the current lack of housing for the elderly could soon become a major problem, says Robinson.

HBH Group hopes to provide more affordable rental housing for seniors in the future. “We’re still exploring our options, but we know it’s getting critical,” Robinson said.

“Auckland is going to reach a crisis point over the next few years and unfortunately we will see more older people homeless unless we do something about it, and soon.”

For the HBH Group team, fulfilling their mission extends to all seniors in their community, not just those living in their nursing homes, hospitals and self-contained apartments. In 2019 the group established Virtual Village East, a social and support network for older people in East Auckland which offers a range of age-friendly events, programs and activities, both online and in person.

“The concept of a virtual village to connect and support older people has been very successful, especially during recent lockdowns, so we hope to expand the network to other regions as well,” says Robinson.

“Our new brand name also allows us to use our experience and expertise to expand our services to more older people in more communities – in Auckland and around Aotearoa in New Zealand.”

For more information, visit www.hbhgroup.org.nz or contact Bonnie Robinson, CEO, at Bonnie.Robinson@hbh.org.nz.

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Emirates News Agency – Abu Dhabi launches ‘Smart Manufacturing Index’ to facilitate transition to Industry 4.0 https://bcn-stay.com/emirates-news-agency-abu-dhabi-launches-smart-manufacturing-index-to-facilitate-transition-to-industry-4-0/ Sun, 20 Nov 2022 16:36:27 +0000 https://bcn-stay.com/emirates-news-agency-abu-dhabi-launches-smart-manufacturing-index-to-facilitate-transition-to-industry-4-0/ ABU DHABI, 20th November, 2022 (WAM) — The Abu Dhabi Department of Economic Development (ADDED) has announced the launch of the “Abu Dhabi Smart Manufacturing Index”, which guides and facilitates the transition of industry players sector towards Industry 4.0 technologies, applications and methods as part of its deployment of the initiatives and objectives defined by […]]]>

ABU DHABI, 20th November, 2022 (WAM) — The Abu Dhabi Department of Economic Development (ADDED) has announced the launch of the “Abu Dhabi Smart Manufacturing Index”, which guides and facilitates the transition of industry players sector towards Industry 4.0 technologies, applications and methods as part of its deployment of the initiatives and objectives defined by the Abu Dhabi industrial strategy.

Reaffirming the attributes of Abu Dhabi’s Industrial Strategy, which was launched in June, the Government of Abu Dhabi’s efforts to accelerate the adoption of Industry 4.0 by all manufacturing and industrial players aim to transform the state industry as it aligns with international benchmarks and best practices. The launch of the “Abu Dhabi Smart Manufacturing Index” provides a critical and comprehensive framework to assess the capabilities of industrial facilities, identify gaps and recommend practical steps to achieve targeted Industry 4.0 maturity.

To drive innovation and improve competitiveness in the industrial sector, the index equips manufacturers with the knowledge and training to begin a transformation journey towards Industry 4.0 and scale with speed and quality. It breaks down sophisticated concepts into six building blocks to provide a clear, easy-to-follow roadmap, which begins with assessing the current state of a production facility, followed by ways to increase readiness levels, proposed steps needed to transform their facilities and identify optimal production solutions to help reap the gains of shifting to advanced manufacturing.

Mohamed Ali Al Shorafa, Chairman of ADDED, said: “Abu Dhabi’s industrial strategy has ushered in a new era, not only for the manufacturing sector, but for the entire economic landscape of the region. To further enhance a smart, circular and sustainable economy, we are forging ahead to take manufacturing to the next level by enabling industrial facilities to keep pace with the latest trends and solutions.

Al Shorafa further explained, “Supported by strong fundamentals and a unique business ecosystem, Abu Dhabi continues to cement its status as a leading industrial hub in the region. We believe it is of paramount importance to equip manufacturers with vital, transparent and efficient mechanisms to transition to Industry 4.0 technologies and applications in order to drive future growth and anticipate changes in demand and demand. the offer. The “Abu Dhabi Smart Manufacturing Index” addresses all aspects of the transition to the manufacturing methods of tomorrow.

Since the launch of the Abu Dhabi Industrial Strategy, ADDED has rolled out initiatives and partnered with leading global institutions to achieve the strategy’s ambitious goals, including the targeted growth of the sector to AED172 billion. , creating 13,600 new jobs and increasing non-oil exports to AED178.8 billion by 2031.

ADDED recently launched the Land Incentives program, which offers long-term lease agreements for industrial land through rental discounts with rates as low as AED 5 per square meter to promote the growth and development of manufacturers in improving capital expenditure and cash flow management.

ADDED has also expanded the Energy Tariff Incentive Program (ETIP 2.0) by offering preferential tariffs for gas and electricity to the industrial sector based on eligibility criteria which include economic impact, rate of emiratization and the efficiency of energy management.

In addition, ADDED continues to collaborate with key global players to improve the innovation and entrepreneurship ecosystem and build the technical capabilities of the industrial workforce to transition to Industry 4.0 technologies, including including the training and development of talent and specialists.

In the first six months of 2022, ADDED’s Industrial Development Board (IDB) assessed the readiness of 76 facilities to transition to Industry 4.0 technologies.

The IDB manages the “Abu Dhabi Smart Manufacturing Index” and will work closely with manufacturers and associated entities to ensure successful execution over the next period.

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JLL to invest $500m in SFR market as industry legislation risks worsening https://bcn-stay.com/jll-to-invest-500m-in-sfr-market-as-industry-legislation-risks-worsening/ Thu, 17 Nov 2022 18:21:49 +0000 https://bcn-stay.com/jll-to-invest-500m-in-sfr-market-as-industry-legislation-risks-worsening/ Institutional investors bought single-family homes, pushing overall prices higher. JLL Income Property Trust deepened the single-family rental trend by launching a new program that plans to acquire up to $500 million in single-family homes over the next two years, alongside the Amherst development and operating platform. JLL will own a 95% interest in the business, […]]]>

Institutional investors bought single-family homes, pushing overall prices higher.

JLL Income Property Trust deepened the single-family rental trend by launching a new program that plans to acquire up to $500 million in single-family homes over the next two years, alongside the Amherst development and operating platform.

JLL will own a 95% interest in the business, with Amherst owning the remaining 5%.

“Single-family rental homes are one of our strongest real estate sectors given the many tailwinds that should provide resilient demand and the potential for attractive rental growth within this carefully selected portfolio,” said the President and CEO of JLL Income Property Trust. Allan Swaringen said in a statement.

This isn’t the first time JLL and Amherst have partnered on a residential property. Previously, JLL acquired a 47% stake in a 4,000-unit portfolio in which Amherst was a partner and operator.

Investment in SFR peaked last year, when black stone fell $6 billion to acquire Home America Partners – a company that owned more than 17,000 homes across the United States.

The level of investment from institutional investors in the SFR market has spurred legislative action, but leadership changes in the US House of Representatives could stifle any potential roadblocks in the works.

A bill introduced in October by California Democrats, dubbed the “Stop Wall Street Landlords Act,” aims to reign in SFR ownership by targeting companies with $100 million in assets with taxes on their transactions.

However, now that Republicans have taken control of the House, speculation has grown over whether such a bill will even make it to the ground, according to comments made to Business Insider by Senior Vice President of Green Street Tyler Blue.

Blue also noted that as the size of SFR’s investments continues to grow, the conversation about industry regulation isn’t expected to end anytime soon.

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RealPage accused of colluding with landlords to raise rents — ProPublica https://bcn-stay.com/realpage-accused-of-colluding-with-landlords-to-raise-rents-propublica/ Mon, 14 Nov 2022 18:00:00 +0000 https://bcn-stay.com/realpage-accused-of-colluding-with-landlords-to-raise-rents-propublica/ ProPublica is a nonprofit newsroom that investigates abuse of power. Sign up to receive our greatest stories as soon as they are published. A Texas-based real estate technology company is facing a new barrage of questions about whether its software helps landlords coordinate rental prices in violation of antitrust laws. Seventeen Democratic members of the […]]]>

A Texas-based real estate technology company is facing a new barrage of questions about whether its software helps landlords coordinate rental prices in violation of antitrust laws.

Seventeen Democratic members of the U.S. House of Representatives sent a letter Monday to the Justice Department and the Federal Trade Commission asking the agencies to investigate RealPage’s rent-setting software. In an October 15 post, ProPublica detailed how RealPage’s pricing algorithm uses competitor data offer daily new prices for available apartments.

In the letterReps. Jesús “Chuy” García and Jan Schakowsky, both of Illinois, and other Democratic leaders said if big property managers and RealPage form a cartel to artificially inflate rents and reduce the supply of apartments , they could face “potential criminal prosecution”. ”

Representatives noted that RealPage became dominant in the industry after buying its biggest competitor in 2017. The Justice Department reviewed the merger but allowed it to proceed.

“Our constituents cannot afford to have anti-competitive – and potentially illegal in themselves – practices that drive up the prices of essential goods and services at a time when a full-time minimum wage salary does not provide enough money. to a worker to rent a two-bedroom apartment. apartment in any city in the country,” they said.

A major driver of inflation, U.S. median asking rents rose 18% year-over-year this spring, before the rate of growth slowed this fall, according to a study by real estate firm Redfin. This happened, the representatives noted, after the 10 largest publicly listed apartment companies saw profits increase by more than 50% last year, nearly $5 billion.

The Justice Department and the Federal Trade Commission did not respond to requests for comment.

The letter to the House adds to growing legal and regulatory pressure on RealPage. US Senator Sherrod Brown recently sent a similar request to the FTC requesting a review of company practices. Last month, the tenants lodged a complaint in San Diego alleging the company facilitated collusion between nine of the nation’s largest property managers. Two other lawsuits have since been filed. All are seeking class action status.

A lawsuit filed Friday on behalf of two Seattle tenants alleges a wide range of collusive behavior by RealPage and a group of top 10 property managers.

He says that in addition to using RealPage software to inflate rents in downtown Seattle, property managers were asking employees to regularly call competitors for detailed, non-public information about what they were charging – why employees would change their prices. The lawsuit cited what he said was a former employee of Greystar, the nation’s largest property management company.

“You would call the competition in the area,” the former employee said, according to the lawsuit. “Sometimes there was a list of 10 people to call. Sometimes just one. You ask what they charge for their apartments. Then you would literally change the prices on RealPage. Raise it manually.

“It was price-fixing,” the employee continued, according to the lawsuit. “How else can you call it when you literally call your competitors and change your rate based on what they say?”

The lawsuit cited another former Greystar employee who described making similar calls in Seattle. The worker said someone from another property manager called for price information two or three times a day, and added, “If someone called me for numbers, I would tell them, then I would turn around and say, “Now it’s your turn.” . What are your numbers? »

The lawsuit said publicly available data showed advertised rates for properties offered by defendants in the lawsuit in the Seattle area were “consistently higher” than those of non-defendants.

Greystar and nine other companies named in the lawsuit did not immediately respond to requests for comment.

ProPublica found that RealPage’s pricing software was widely used in downtown Seattle, where rents have risen sharply in recent years. In one neighborhood, ProPublica found that 70% of apartments were overseen by just 10 property managers, each of whom used RealPage’s pricing software.

Another lawsuit, filed by the same group of lawyers earlier this month in US District Court in Seattle, accused RealPage of helping owners engage in anti-competitive behavior in the student housing market.

This lawsuit alleges that a University of Washington student paid higher rents due to collusion between landlords using RealPage software.

The lawsuit names some of the world’s largest real estate companies, including Greystar and Cushman & Wakefield, as defendants. He accuses them of artificially inflating rents in college towns like Seattle; Eugene, Oregon; Tucson, Ariz.; Salt Lake City, Utah; Ann Arbor, Michigan; Columbus, Ohio; and Gainesville, Florida.

A spokesperson for Cushman & Wakefield, which also owns another company named in the lawsuit, declined to comment.

In response to the San Diego lawsuit alleging collusion, a representative for RealPage said the company “strongly denies the allegations and will vigorously defend itself against the lawsuit.” RealPage said the company “uses aggregated market data from various sources in a lawful manner.” RealPage did not immediately respond to a request for comment on the new lawsuits and the letter from Congress.

RealPage has previously said its revenue management software prioritizes a property’s internal supply and demand dynamics over external factors such as competitors’ rents. In an earlier statement, the company said its software helps eliminate the risk of collusion that could arise with manual pricing involving telephone surveys of competitors’ prices.

RealPage’s software uses an algorithm to sift through a wealth of data to suggest rental prices. The software not only uses information about the price of the apartment and the property where it is located, but also private data about the rents of nearby competitors. The software considers the actual rents paid to those rivals, not just what they advertise, the company told ProPublica.

ProPublica’s investigation found that the software’s design and scope have raised questions among experts about whether it helps the nation’s largest landlords indirectly coordinate pricing — potentially in violation of federal law.

Six other companies named in the student housing lawsuit did not immediately respond to requests for comment. One could not be reached.

The lawsuit alleges that before property managers began using RealPage’s software around 2009, the student housing market in the United States was competitive, with landlords offering concessions and freebies as incentives. He says RealPage has called such maneuvers leaving “money on the table”.

With the software, landlords in the highly concentrated student accommodation market found they could set a “prime price,” the lawsuit says. He adds that the company claims to have a comprehensive dataset that includes key performance indicators for nearly 1,000 universities. YieldStar Student, a pricing software designed for student housing, served more than 50 customers in 2019, the company said, according to the lawsuit.

Customers submit detailed internal data to RealPage about the rent they charge for each unit, the lawsuit says, citing the company. The company’s software recommends a price for each unit, he says, giving owners “the courage to charge an inflated price with the implicit assurance that all of their competitors were doing the same.”

ProPublica previously reported that RealPage said its software helped customers outperform the market by 3-7%.

The lawsuit said collusion between property managers using the software eliminated the need for discounts or lower rental prices even at the start of the school year – traditionally a time when competition for student tenants is fiercest.

“Even though some beds remained empty, the monopoly rents that RealPage helped extract from the rented units justified the unrented units,” the lawsuit states.

Once RealPage was widely adopted by student housing providers, according to the lawsuit, landlords shifted “from the old competitive ‘market share over price’ strategy to a collusive new ‘price over volume’ strategy.”

Pushing prices on volume “is characteristic of a cartelized market,” the lawsuit states.

The new strategy raised prices regardless of market conditions and asked landlords to tolerate some unrented units, the lawsuit said — an approach that would fail in a competitive market.

“In the marketplace created by RealPage and the lessors, each lessor had mutual assurance that the other lessors would also keep prices high, leaving students with no choice but to pay what the lessors demanded,” the lawsuit states.

A study of 2017-2018 data by RealPage and defendant Campus Advantage found that a 576-bed resort outperformed its market by 14.1%, despite a “negative” year-over-year occupancy change. another, the lawsuit says. He adds: “RealPage advised landlords and potential clients: ‘If you want to outperform the market term after term, focus less on occupancy and more on strategic lease pricing.’ “”

In a statement emailed to ProPublica, Campus Advantage said it “strongly disagrees with the unsubstantiated allegations in the lawsuit and intends to vigorously defend itself against these allegations. Campus Advantage is proud of its track record of building thriving communities.”

The lawsuit says the defendants had the opportunity to conspire through RealPage’s User Group forum, which is made up of customers who want to work together to help the company improve its products, as well as at other functions. RealPage and industry trade association meetings.

RealPage advisers are also said to be in regular contact with the owners “to update them on their competition,” according to the lawsuit.

RealPage’s actions were not widely known, according to the lawsuit. “It was only after the recent publication in October 2022 of an article in ProPublica that there was a complete presentation of the set of confidential services that RealPage provides to its customers in the real estate sector,” it indicates. -he.

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Turbulent Hawaii vacation rental news as Vacasa plummets https://bcn-stay.com/turbulent-hawaii-vacation-rental-news-as-vacasa-plummets/ Sat, 12 Nov 2022 06:01:36 +0000 https://bcn-stay.com/turbulent-hawaii-vacation-rental-news-as-vacasa-plummets/ First of all, if you don’t know the Vacasa name in terms of Hawaii vacation rentals, you should. They are one of the largest vacation rental managers/providers in Hawaii, with an inventory of nearly 1,200 Hawaii homes and condos. This week, shares of the recent stock market darling vacation rental have fallen 48%. In total, […]]]>
Turbulent Hawaii vacation rental news as Vacasa plummets

First of all, if you don’t know the Vacasa name in terms of Hawaii vacation rentals, you should. They are one of the largest vacation rental managers/providers in Hawaii, with an inventory of nearly 1,200 Hawaii homes and condos.

This week, shares of the recent stock market darling vacation rental have fallen 48%. In total, that’s down over 80% in past wear. What does this mean for the Hawaii vacation rental industry, Vacasa, and more importantly, for you? Let’s talk about Vacasa, then back to the wider implications.

How Vacasa is different from Airbnb and Vrbo.

While Airbnb is the household name for vacation rentals in Hawaii, Vacasa asserted its claim here on a slightly different premise. Unlike Vrbo or Airbnb, Vacasa is a full-service property management company that also lists its inventory for rent. These other companies (Vrbo and Airbnb) do not provide management, leaving this to private or professional managers. Vacasa, on the other hand, sets up local teams responsible for a myriad of things, including check-in/check-out, cleaning, customer service, and repairs.

Vacasa charges around 30% for its combined listing and property management services. The concept worked, otherwise they wouldn’t have amassed so many Hawaii rentals in their pool over the past few years.

Vacasa went public last year with the potential for exponential growth.

Many Hawaii vacation rentals on Airbnb and other websites are managed by Vacasa. It offers up to 100 booking sites on which the properties it manages can be found.

Vacasa’s stock first fell during the stock market decline and then again on its own merits this week.

And now there seems to be significant doubt as to whether Vacasa can achieve its desired goals. That’s based on earnings falling short of expectations and, more importantly, indications he gave that momentum may be waning as the company faltered in third-quarter earnings. So despite selling more rental nights and with higher rates, they ran into much higher costs than expected, resulting in adjusted profits that were much lower than they had expected (46M $ versus $55 – $60 million).

What does this mean for Hawaii visitors who prefer vacation rentals?

1. Expect greater availability from now on for vacation rentals in Hawaii.

2. Price increases should stop and vacation rental costs should moderate in the future.

3. The promotional periods should reappear for the winter, spring and autumn off-peak seasons.

What’s next in the Hawaii vacation rental industry?

Vacasa also said gross bookings per rental may decline due to a weaker than expected economic environment. This is based on consumers traveling and/or spending less on future vacations (to Hawaii). And therein lies the big news in terms of Hawaii vacation rentals. As with Vacasa, this will likely go for the Hawaii vacation rental industry.

Lily Hawaii vacation rentals are no longer the “cheap” alternative.

What does the State’s September vacation rental report say?

Interestingly, the number of Hawaii vacation rentals on the market has dropped significantly since 2019, an average of 27%. The state report for September has already shown lower occupancy rates, even with fewer available units available. But at the same time, above all, considerable rate hikes have remained (at least for now).

There was a statewide average occupancy rate of just 59%, down more than 9% from the pre-Covid period. The average daily rate was $283, up 46% from 2019.

With huge rate increases and an upcoming reduction in demand, visitors are likely to see better days ahead for vacation rentals.

Maui vacation rentals.

Maui, which has the most vacation rentals, had an average rate of $333, +46% from 2019, and 64% occupancy, -8% from 2019.

Vacation rental in Honolulu.

Vacation rentals in Honolulu had an average rate of $214, +34% from 2019, and 61% occupancy, -12% from 2019.

Vacation rentals on the Big Island.

Big Island vacation rentals had an average rate of $225, +54% from 2019, and 50% occupancy, -8% from 2019.

Vacation Rentals in Kauai.

Kauai vacation rentals had an average rate of $377, +56% from 2019, and 59% occupancy, -7% from 2019.

hawaii-vacation-rental-performance-2022-09

Disclosure: We receive a small commission from purchases of some of the links on Beat of Hawaii. These links cost you nothing and provide you with the revenue necessary to provide you with our website. Mahalo! Privacy Policy and Disclosures.

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Light Tower Rental Market 2022 Business Outlook: RentalMax, Austin Power Generation, KWIPPED, Contractor Supply https://bcn-stay.com/light-tower-rental-market-2022-business-outlook-rentalmax-austin-power-generation-kwipped-contractor-supply/ Wed, 09 Nov 2022 10:09:00 +0000 https://bcn-stay.com/light-tower-rental-market-2022-business-outlook-rentalmax-austin-power-generation-kwipped-contractor-supply/ Global light tower rental market Global Light Tower Rental Market Growth Analysis and Key Players Research Forecast 2022-2029 Market.Biz is to provide accurate and comprehensive information by estimating and analyzing vital aspects of your business. — Market.Biz NEW YORK, NY, USA, November 9, 2022 /EINPresswire.com/ — Main players operating in the Global light tower rental […]]]>

Global light tower rental market

Global Light Tower Rental Market Growth Analysis and Key Players Research Forecast 2022-2029

Market.Biz is to provide accurate and comprehensive information by estimating and analyzing vital aspects of your business.

— Market.Biz

NEW YORK, NY, USA, November 9, 2022 /EINPresswire.com/ — Main players operating in the Global light tower rental market include United Rentals, Caterpillar, Home Depot Product Authority, NorCal Rental Group, MacAllister Rentals, Cooper Equipment Rentals, Pro Tool & Supply, BigRentz, RentalYard, Kennards Hire, Larson Electronics, Battlefield Equipment Rentals, Access Hire Australia, Holt Texas, HSS Hire Ireland, Warren CAT, Puckett Rents, Onsite Rental Group, Miami Tool Rental, Rain for Rent, The Duke Company, ACME Rents, The Pape Group, Foley, Blanchard Machinery, Brandon Hire Station, Boss Light Tower Rental, RentalMax, ABC Rental Center, Austin Power GenerationKWIPPED, Contractor Supply.

Market Size, Type, Applications, Key Players, Analysis, Demand, Share, Price, Trend and Forecast is a professional and in-depth study on the current status of the global rental of light towers. It is estimated to reach $6.8 billion by 2029 and is expected to grow at a CAGR of 5.7% over the period 2022-2029. The report analyzes the growth of the global Light Tower Rental market, as well as the main market players.

Sample Copy of Lighthouse Rental Market Report @ https://market.biz/report/global-light-tower-rental-market-gir/1094732/#requestforsample

A light tower is a freestanding structure tall enough to hold one or more powerful lights. These light towers are used in emergency situations, to construction external sites and events. Many companies offer light towers for rent. These towers can provide supplemental light for a limited time at a fraction of the cost. A light tower can be rented for a fraction of the purchase cost. There are many types and sizes available in light towers. The size and power requirements of your light tower will determine the type you need.

This report offers an in-depth view of market opportunities by user segments, product segments, sales channels, key countries and import-export dynamics. The Light Tower Rental industry report analyzes market size, growth drivers, rising trends, market opportunities, forecasts and investment risks in various segments of the market. rental of light towers. It provides a comprehensive understanding of Lighting Tower Rental market dynamics in every value and volume term.

Regional Coverage (Regional Production, Demand & Forecast by Countries etc.):

– North America (United States, Canada, Mexico)

– Europe (Germany, UK, France, Italy, Russia, Spain, etc.)

– Asia-Pacific (China, India, Japan, Southeast Asia etc.)

– South America (Brazil, Argentina etc.)

Related reports:

1. Global Portable LED Light Tower Market: https://market.biz/report/global-portable-led-light-tower-market-gir/1095482/

2. Global Stadium Lighting Tower Market: https://market.biz/report/global-stadium-light-towers-market-gir/1040687/

3. Global Truck Mounted Light Tower Market: https://market.biz/report/global-truck-mounted-light-towers-market-gir/1040686/

4. Global Portable Metal Halide Light Tower Market: https://market.biz/report/global-metal-halide-portable-light-towers-market-gir/1040685/

This report segments the global light tower rental market on the basis of the following types:

portable light tower
Towable light tower
Others

On the basis of Application, the global light tower rental market is segmented into:

Construction
Mining
petroleum gas
Others

The Global Light Tower Rental report examines the market advancement opportunities, business strategies, transaction volume, and the most recent improvements occurring in the Light Tower Rental industry. Details such as product launch, industry news, development drivers, difficulties and speculation scope have been thoroughly analyzed in Light Tower Rental research report.

In this study, the years considered to estimate the market size of Light Tower Rental are as follows:

Historical year: 2017-2021

Base year: 2021

Estimated year: 2022

Forecast year: 2022 to 2029

Link for purchase report @ https://market.biz/checkout/?reportId=1094732&type=Single%20User

There are 15 Chapters to display the Global Light Tower Rental market

Chapter 1, Definition, Specification and Classification of Light Tower Rental, Applications of Light Tower Rental, Market Segment by Regions;

Chapter 2, Manufacturing Cost Structure, Raw Material and Suppliers, Manufacturing Process, Industry Chain Structure;

Chapter 3, Technical Data and Manufacturing Plants Analysis of Light Tower Rental, Capacity and Commercial Production Date, Manufacturing Plants Distribution, R&D Status and technological source, analysis of raw material sources;

Chapter 4, Overall Market Analysis, Capacity Analysis (Company Segment), Sales Analysis (Company Segment), Sales Price Analysis (Company Segment);

Chapter 5 and 6, Regional Market Analysis that includes United States, China, Europe, Japan, Korea & Taiwan, Light Tower Rental Segment Market Analysis (by Type);

Chapter 7 and 8, Headlight Rental Segment Market Analysis (by Application) Major Manufacturers Analysis of Headlight Rental;

Chapter 9, Market Trend Analysis, Regional Market Trend, Market Trend by Product Type, Market Trend by Application;

Chapter 10, Regional Marketing Type Analysis, International Trade Type Analysis, Supply Chain Analysis;

Chapter 11, Consumers Analysis of Light Tower Rental Worldwide;

Chapter 12, Lighthouse Rental Research Findings and Conclusion, Appendix, methodology and data source;

Chapter 13, 14 and 15, Light Tower Rental sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

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Global market for fabric softener capsules: https://www.einnews.com/pr_news/589387683/global-softening-laundry-capsule-market-significant-growth-various-services-competitive-insights-demand-analysis

Global Capacitive Touch Screen Controller Market: https://www.einnews.com/pr_news/589388929/global-capacitive-touch-screen-controller-market-research-with-segments-and-forecasts-analysis-2022

World whiskey market: https://marketbusinesspr.wordpress.com/2022/11/01/whiskey-market-investment-structure-2022/

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Here are the industries that added the most jobs in October — and which lagged behind https://bcn-stay.com/here-are-the-industries-that-added-the-most-jobs-in-october-and-which-lagged-behind/ Sat, 05 Nov 2022 22:00:00 +0000 https://bcn-stay.com/here-are-the-industries-that-added-the-most-jobs-in-october-and-which-lagged-behind/ The U.S. economy gained 261,000 jobs in October, the Labor Department reported Friday. The latest figure is slightly lower than September’s, but still well above economists’ forecast of a gain of 190,000 jobs. Despite high inflation, rising interest rates, slowing economic growth and mounting anxiety about a recession in 2023, the resilient U.S. labor market […]]]>

The U.S. economy gained 261,000 jobs in October, the Labor Department reported Friday.

The latest figure is slightly lower than September’s, but still well above economists’ forecast of a gain of 190,000 jobs.

Despite high inflation, rising interest rates, slowing economic growth and mounting anxiety about a recession in 2023, the resilient U.S. labor market saw another month of strong job creations. jobs.

Here are the sectors that have added the most workers, as well as those that are struggling to keep pace.

The Healing Market for Healthcare Workers

The health care sector led the United States last month with a gain of 53,000 workers, according to the Labor Department. A gain of 31,000 workers in doctors’ offices and hospital outpatient departments made up the bulk of the industry’s gains and contributed to a much better year for the beleaguered health care sector.

Health care hiring rebounded in 2022, bringing in an average of 47,000 new workers each month this year compared to 9,000 per month in 2021.

Economists say a combination of increased demand for non-emergency health services that has taken a back seat during the pandemic and rapidly rising wages for health care workers have helped the sector rebound.

Professional and technical services holding firm

The United States added 43,000 workers in professional and technical services last month, a broad category including consultants, architects, engineers and technicians.

Job growth in this sector can be a useful sign of changes in the economy, as these services are often in greater demand as businesses expand.

While employment growth in professional and technical services slowed slightly in 2022, October’s strong performance is another sign of the strength of the US economy in the face of many forces aimed at slowing it down.

“The jobs data shows how resilient the labor market has been in the face of stubbornly high inflation and a sharp rise in interest rates so far this year,” wrote Cailin Birch, global economist at the Economic Intelligence Unit, in an analysis on Friday.

Factories continue to build a larger workforce

The U.S. manufacturing sector has come back to life since the start of 2021 and has continued to add jobs at a healthy pace, even in the face of rising interest rates, supply chain dysfunction and consumers are misappropriated from property in the past year.

Manufacturers added 32,000 jobs in October, according to the Labor Department, slightly less than its average monthly gain of 37,000 this year. The sector faces serious threats from higher interest rates and supply shortages, but it has held strong thanks in part to a glut of demand that still lingers from the depths of the pandemic.

“Factory jobs continue to be a reliable engine of job growth, especially for workers not looking to earn a four-year degree. Investments made over the past year in infrastructure, clean energy, electric vehicles and semiconductors should continue to pay dividends in terms of jobs next year and beyond,” said Friday Scott Paul, president of the Alliance for American Manufacturing.

“But there are threats to that growth: an overzealous Fed, global headwinds, and unwanted pressure to lower tariffs and Made in America requirements.”

Leisure and hospitality offer many options

The leisure and hospitality sector is not showing as much growth as last year, when it added 196,000 jobs each month on average. But restaurants, bars, entertainment venues and accommodations still gained 35,000 jobs last month as they seek to fill a massive labor shortage.

Leisure and hospitality has been the sector hardest hit by the pandemic and it remains 1.1 million workers below its pre-pandemic employment total. Those who have stayed or joined the industry since the emergence of COVID-19 vaccines have faced increased demand with fewer colleagues to help them, while dealing with high inflation in the food sector.

“Given the continued demand for workers from businesses, job gains are unlikely to fall sharply in the near term,” Ben Ayers, senior economist at Nationwide, said in an analysis Friday.

“Job growth is expected to remain strong through 2023, while continuing to gradually slow.”

Transportation is on the move, but warehouse jobs are harder to come by

Employment growth in the transportation and warehousing sector fell sharply in October, gaining just 8,000 jobs after an average gain of 25,000 each month this year. But the split between the two is a window into the evolution of the US economy.

The industry added 13,000 workers in trucking, 7,000 couriers and messengers and 4,000 more jobs in air transport – three parts of the sector are still struggling with labor shortages and labor issues. Supply Chain.

But warehousing jobs fell by 20,000 in October as big retailers continued to cut investments they had made earlier in the pandemic when shipping delays and shortages made it difficult to keep customers happy. .

“The warehousing and storage industries, winners of the pandemic era, lost 20,000 jobs during the month, likely due to the move away from the consumption of goods,” said Nick Bunker, director of economic research at Indeed, in an analysis on Friday.

The financial sector continues to collapse

Rising interest rates and growing fears of a recession have hit financial markets hard. Job seekers in the sector are not faring much better.

The financial sector added just 3,000 jobs in October, which the Labor Department does not consider a significant increase in employment. Rental and leasing services lost 8,000 jobs last month alone, likely due to a slowing housing market caused by high mortgage rates.

Real estate brokers, mortgage lenders and other businesses that depend on strong home sales have laid off employees and brace for deeper cuts as the housing market continues to slow. Higher interest rates are also suppressing investment activity, so business companies are also considering layoffs.

Mining, construction and retail trade also saw weak job growth in October.

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The Inevitability of Future Rent Growth https://bcn-stay.com/the-inevitability-of-future-rent-growth/ Fri, 28 Oct 2022 18:35:00 +0000 https://bcn-stay.com/the-inevitability-of-future-rent-growth/ JJ Gouin I have already discussed my view that real estate rental rates will rise due to both inflation and higher interest rates, but I have not yet discussed when where it will happen. Knowing the underlying mechanisms is crucial to understanding the timing and not being misled by reports suggesting otherwise. A growing number […]]]>

JJ Gouin

I have already discussed my view that real estate rental rates will rise due to both inflation and higher interest rates, but I have not yet discussed when where it will happen. Knowing the underlying mechanisms is crucial to understanding the timing and not being misled by reports suggesting otherwise.

A growing number of reports are emerging suggesting that rent growth is slowing in recently boiling real estate sectors.

  • Home sales are down 25% and the October 18 survey of homebuilders showed that lowest reading in many years.
  • Apartment rents are down from the unprecedented 15% rent increases seen in the 1st and 2nd quarters to around a more moderate 5%.
  • The industry has yet to slow down based on the TRNO report that we recently coveredbut as the offer comes in, it’s likely to cool down a bit.

I think headlines like this are quite confusing because they contradict the idea that real estate is a hedge against inflation. Given the high inflation environment, should rent growth not accelerate and not decelerate?

Well, there is a lag in the underlying mechanisms that govern rental rates.

I pose the following:

  • Higher interest rates increase rental rates
  • Higher OpEx increase rental rates
  • Higher construction costs increase rental rates

In fact, I would even say that these increases are almost inevitable over a long period of time. The nature of the mechanism simply makes it take years to figure out.

Therefore, I anticipate a slowdown in comparable store NOI growth followed by an acceleration in a few years. Let me start with the source of the short-term slowdown in rental rate growth and follow the reasoning for a longer-term acceleration.

The supply is coming

Building commercial real estate is a slow process. Permits are slow, materials procurement is slow, construction labor is undersupplied, and physical construction of a large CRE takes a few years. So, from the planning phase to opening is often a 2-5 year process.

So the amount of supply arriving in any given year is less tied to today’s economy and much more tied to the economy 2-5 years ago.

It all comes down to spreads. The basic equation of development is:

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2MC

Development involves risk and has deferred reward, so a rational developer demands a return on development that is substantially above capitalization rates on stabilized real estate.

2 to 5 years ago, the development comes back very well. The zero interest rate environment has made development financing extremely cheap, which has weighed on development returns. It was also a time when the “risk-free” rate was around 1% and stabilized cap rates were around 5% for these types of assets, which meant that a development return of just 6 % to 7% was enough to stimulate development.

Naturally, these factors have led to significant development over the past 5 years. Below is construction activity in the United States excluding housing.

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Fred

Housing construction was also quite significant, although it was heavily focused on apartments rather than houses.

Chart, line chart Description automatically generated

Fred

Due to the duration of these projects, the majority of this offer is online until 2023.

This is a large part of the reason for the slowdown in rental rate growth. It’s not inflation or rising interest rates, but rather the fact that interest rates were so low 2-5 years ago.

Zero interest rates are terrible for REITs because they stimulate the development of a competing supply.

Today, however, inflation and significantly higher interest rates with the 10-year Treasury at over 4% ushered in the opposite development environment. This same equation no longer stands out.

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2MC

  • Construction costs increase dramatically
  • Operating expenses are up
  • Required yield is approximately 8% to 10%

Rents have increased in 2022, so the property’s expected NOI is up, but it’s not far enough to offset the cost of construction and the now higher required level of return.

This is where market forces come into play.

Development will naturally slow down. In its press release on 3Q22 results, Prologis (PLD) cut its development forecast by $350 million.

Graphical User Interface, Text, Application Description automatically generated

PLD

In industry, developments are only slowing down a bit because rents have risen dramatically (more than 50% in just a few years).

In other areas where rents have risen more modestly, development will slow more significantly.

Like most things in economics, it forms a cyclical equilibrium. As rental rate growth slows, development becomes less financially viable, resulting in an undersupply of a given property type, which increases rental rate growth. Here is the basic feedback loop.

Diagram description automatically generated

2MC

It can take up to a decade to complete the above cycle, but that’s how real estate cycles have been for generations.

External macro forces can impact the cycle. Currently, the main external forces are high interest rates and inflation, both of which are leading to a dramatic reduction in development activities.

With the cost of construction, one cannot usually get an 8-10% development return at current rental rates. This is effectively a shift in the supply curve.

For a given level of NOI, the quantity of properties delivered will be lower. Here are supply and demand curves in qualitative form to illustrate the concept.

Diagram description automatically generated

2MC

The prize manifests itself in many forms. For a developer intending to sell the property on completion, this is the sale price of the property. For a developer who intends to own the property and rent it out, the price represents the net operating income of the property (rental income less expenses).

Rental rates end up being the dependent variable. They move to balance the amount of additional properties requested with the amount of additional properties provided.

Since construction costs and the required rate of return are rising, the level of rental rates that clears the market will be higher.

With that framework in mind, here’s how I see the trajectory of rental rates going forward.

Rental rate outlook by year

  • Current property inventory levels are undersupplied for apartments and industrial.
  • Current shopping center inventory levels are balanced.

These are measured by abnormally low vacancy rates in apartments and industrial with normal vacancy in retail.

2023 and 2024

Ongoing development is fairly heavy for apartments and medium for industry, while retail has minimal ongoing development. So, as the pipeline of current developments is delivered, I anticipate that the supply of apartments and industrials will change from an undersupplied supply to a balanced supply. Retail will shift from normal supply to slightly insufficient supply.

The easing of the supply shortfall in the industrial/multi-family sector will bring rental rate growth from the rapid speed of recent quarters to a more historically normal level. I expect rental rates to grow by around 5% for apartments and around 10% to 20% for industrials.

Shopping malls, however, are expected to experience a slight acceleration in rental rate growth, which could reach double digits.

2025 and beyond

Ongoing pipelines will be completed and we will see the slowed activity of development starts beginning to trickle down to completions. This will re-accelerate rental rate growth until it reaches a level high enough for development to be more viable on a large scale. The real estate cycle will continue with an alternation of over and underdevelopment.

Implications for investment

The fundamentally ideal sectors change. Retail is now among the best sectors from a growth perspective relative to valuation. Apartments and Industrials are still healthy sectors, but they no longer deserve the premium multiples they once offered. Valuations have already fallen quite far in these sectors, so these are reasonable buys at the current level, but I wouldn’t expect a return to FFO multiples of 25X to 35X.

REITs are grossly undervalued as the market interprets slowing rental rate growth as a new direction. Instead, it is a hiccup resulting from the aftermath of the zero interest rate environment. If interest rates stay in a healthy range with the 10-year Treasury at 3% or higher (4% today), the long-term outlook for rental rates looks pretty solid.

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Why We Still Buy Rexford (NYSE:REXR) https://bcn-stay.com/why-we-still-buy-rexford-nyserexr/ Thu, 27 Oct 2022 21:36:00 +0000 https://bcn-stay.com/why-we-still-buy-rexford-nyserexr/ What some tenants may feel when they see their rent increase by 60% in one month. Also, what it’s like trying to find a useful image in Getty Images. dundanim/iStock via Getty Images Reford (New York stock market :REXR) is one of my favorites REITs. We increased our position and bought more shares as recently […]]]>

What some tenants may feel when they see their rent increase by 60% in one month. Also, what it’s like trying to find a useful image in Getty Images.

dundanim/iStock via Getty Images

Reford (New York stock market :REXR) is one of my favorites REITs. We increased our position and bought more shares as recently as 10/20/2022. We bought 230 shares at $51.40 that day, which brings us to 670 shares.

Let me take you back in time for just a few weeks. When I was looking at industrial REITs in our October Portfolio UpdateI wrote:

Removing outliers from (STAG) (-7.7%) and (ILPT) (down 26.6%), the others fell from 11.6% to 18.4%. Good deals. An update of Prologis (PLD) reported that rental rate growth remained very high in the third quarter of 2022.

We spent just over $41,000 to buy the dip. This is the opportunity we wanted to see in industrial REITs. The entry opportunity has been waiting for so long, and it has finally arrived. We don’t know when industrial REITs will rise, but the fundamentals are exceptional in the short and long term. Growth in AFFO per share is expected to be extremely strong for at least a few years. Longer-term forecasts are difficult to make, but there is a good chance that rental growth will remain high and continue to generate strong growth in AFFO per share. Since debts are relatively low, higher interest rates should only have a very minor impact on interest charges, as small amounts of debt are rolled over.

The ILPT is the exception. In my opinion, they have absolutely insane debt and substandard management. These two things often go together. I covered ILPT a bit more in the previous update.

We’re not going to dive any deeper into ILPT here, as it’s one of my favorite REITs. However, investors should be aware that massive leverage is a critical factor in ILPT’s performance and one of the reasons we exclude it from a typical industrial REIT discussion.

We went on to say:

The huge fluctuation in industrial REIT prices will cause some investors to panic. I understand. REXR is trading just 61% off its all-time high. A drop of 39% will cause panic. Yet the consensus NAV (net asset value) was only down 11% from the all-time high:

Chart

TIKR

It’s not just REXR, it’s the case of many REITs with major assets:

Chart

TIKR

With that in mind, I want to move on to the results of Publication of REXR’s third quarter 2022 results and our latest report.

Latest news on Rexford

We provided a huge updated report on REXR to subscribers shortly after the REIT released third quarter 2022 results. We are sharing part of that report here.

We were doing a full review of the REIT, but we also included third quarter results earlier today.

Here are the main points:

  • REXR’s 2022 Q3 was awesome. I rate it 10/10. However, this article is much larger than a quarterly update. We dive deep into REXR again.
  • REXR’s fundamentals continue to strengthen. The massive rental is spreading, prompting management to raise the forecast yet again.
  • After a thorough review of the portfolio and growth expectations for FFO and AFFO per share, we have determined that the consensus estimates for 2023, 2024 and 2025 appear too low.
  • Even taking into account the negative impact of higher interest rates, integrated growth should drive values ​​higher.
  • REXR was actively issuing shares, but they did so at $65.43. That’s 27% more than today’s price. Issuing at $65.43 was a good idea.

Note: The reference to “today’s price” is from the original subscriber report with REXR stock at $51.32.

Now we can dive a little deeper.

Rexford absolutely dominates on the fundamentals. Stocks appear to have found support just above $50.00. The 52-week low is located precisely at $50.00. In our view, REXR shares should be worth significantly more. What’s holding REXR back? Clearly, all REITs (and most stocks) have been pounded this year. Industrial REITs have been hit harder than most. However, REXR’s fundamentals are beating analysts’ estimates.

In addition to beating the estimates, they also increase the forecasts:

Table

Rexford

Sound familiar? After Q2 2022, they also had to raise their forecasts:

Table

Rexford

Yes, there is a pattern here.

They are having an exceptional year on the fundamentals, despite the weakness of the share price. However, this article is not intended to be an update for the third quarter of 2022. It is designed to provide an overview of the growth of FFO and AFFO per share over the next few years. We will, however, include some figures from the third quarter of 2022.

You can completely ignore missing titles on GAAP EPS. Nobody cares. REXR delivered in Q3 2022 a Core FFO per share of $0.50. This beat the last consensus estimate of $0.48, and it beat the estimate of $0.49 from a few weeks ago. It’s the typical “hit and raise”. Well, if a typical beat and raise can include cash leasing spreads of 63%, then that’s a typical beat and raise.

Some readers ask me to provide a simplified income assessment. I rate the quarterly results at 10/10.

Alternative

It’s not just REXR that’s generating massive growth. We are also very optimistic on Prologis and Terreno (TRNO). These three REITs combine to represent approximately 14.1% of my portfolio. Since stock prices change and we have an actual portfolio rather than a hypothetical portfolio with arbitrary allocations, this allocation will change over time because stock prices change.

Conclusion

We expect the dramatic growth in AFFOs per share to continue for industrial REITs. Except for ILPT. We do not enter the ILPT. For the rest, we expect dramatic growth in AFFO per share. This growth is expected to be largely driven by a strong comparable RNE performance. This NOI of the same property should be boosted by strong rental spreads. These rental differentials are the result of existing leases at low rates and a dramatic increase in market rents over the past few years.

The limited development of new supply combines with a move towards e-commerce (which requires much more industrial space and virtually no retail space) to create a structural imbalance of supply and demand. It might be possible to develop more industrial real estate, but in most cases the opportunity costs would be enormous. These opportunity costs (and zoning challenges) are significant enough to create a significant barrier to new supply in the most desirable areas.

Industrial real estate still has fairly cheap rents per square foot. This gives landlords the opportunity to increase rents. Tenants can pay the new rent or leave. They could sign a competitor instead, but they would still face huge rental rate increases. This leaves us in an ideal environment to see AFFOs per share and dividends continue to grow at a rapid pace.

Valuations: strong buy on REXR, TRNO and PLD

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Nuveen pays $151 million for L.A. cold storage and distribution site – Trade Observer https://bcn-stay.com/nuveen-pays-151-million-for-l-a-cold-storage-and-distribution-site-trade-observer/ Wed, 19 Oct 2022 21:20:33 +0000 https://bcn-stay.com/nuveen-pays-151-million-for-l-a-cold-storage-and-distribution-site-trade-observer/ Nuvean made a big bet on the industrial real estate market in Southern California. The investment firm paid $151.2 million for a fully leased Class A distribution project with 337,125 square feet in southeast Los Angeles County, property records show. This is almost double the amount that the seller, Clarion Partnerspaid to acquire the property […]]]>

Nuvean made a big bet on the industrial real estate market in Southern California.

The investment firm paid $151.2 million for a fully leased Class A distribution project with 337,125 square feet in southeast Los Angeles County, property records show. This is almost double the amount that the seller, Clarion Partnerspaid to acquire the property two years ago.

Cushman and Wakefield represented the seller and advertised the sale, but did not disclose the sale price.

The site is leased to three tenants and includes 87,139 square feet of new refrigerated space. It is on over 14 acres to 14001-14007 and 14041-14051 Avenue Rosecrans in the small town of La Mirada, where the industrial vacancy rate is 0.6%. It was built in 1997 north of Interstate 5 and State Route 91, and is 15 miles from the Ports of Los Angeles and Long Beach, as well as Los Angeles International Airport.

“The property is well positioned in the Mid-Counties industrial submarket, one of the strongest in the country,” Cushman & Wakefield said. Rick Ellison said in a statement. “The low vacancy rate has resulted in rental rate growth in the area, creating an exceptional go-to-market opportunity and an ideal long-term investment strategy. The property also offers a rental option with expirations short-term leases combined with a range of suite sizes and configurations appealing to a wide variety of potential occupants.

Ellison worked with colleagues at Cushman & Wakefield Jeff Chiate, jeffrey cole, Mike Adey, Brad Brandenburg and Matt Leupold on the agreement on behalf of Clarion.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

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