Commercial Real Estate Services
JB Commercial Team exists for the sole purpose to assist owners, investors, and tenants with their commercial needs. Through our experience, knowledge and expertise we help maximize our clients' effort, time, and money. Our thorough understanding of the wide array of markets allows us to be highly adaptable to assist on both landlord and tenant assignments alike. Our commitment is to provide our clients with savings and to help provide superior returns for their investments.
Featured Property
- Grubb & Ellis|CBI Inc.
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Grubb & Ellis|CBI Inc., as the exclusive advisor to the Owner, is pleased to offer the opportunity to purchase or lease condominium units in the Haumea Center at Kapolei (the “Property”), a 5-story, 141,166 square foot Class A office and retail center located at 711 Kamokila Boulevard, Kapolei, Hawaii as well as an adjacent, brand new, state-of-the-art parking garage with ground floor retail.
The Haumea Center at Kapolei is an exciting retail/office condominium complex that provides an attractive work and entertainment environment, as well as the rare opportunity to own your own office or retail space. The Property is ideally located on Kamokila Boulevard, the primary business thoroughfare which stretches down the central Kapolei business district. Click here for more information
Grubb & Ellis U.S. Office Market Trends
Absorption was deeply in the red for a second consecutive quarter, inflating the vacancy rate at a quickening pace. Asking rental rates fell by 3 to 4 percent over the last four-quarters, though effective rates were off 16 percent. The silver lining is that the inventory of available space added just 1.4 million square feet in the second quarter, suggesting a light at the end of the tunnel. This was by far the smallest quarterly gain since this indicator turned higher in the third quarter of 2007, a full quarter before the onset of the recession. Economists expect the recession to end later this year, but the recovery will be sluggish. Vacancy is unlikely to peak before the first half of 2011, with rental rates beginning to firm one or two quarters later.
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Grubb & Ellis U.S. Retail Market Trends
The current recession, already the longest of the 11 post-war downturns, is also among the unkindest to consumers and, by extension, retail tenants and shopping center landlords. That is because it began with the bursting of a housing bubble that led to the bursting of a credit bubble that extended into all corners of the global economy. Housing can credit are important drivers of retail sales. This is in sharp contrast to the 2001 recession and 2002-03 jobless recovery, a period when the retail sector outperformed thanks to artificially low interest rates and a vigorous housing market that eventually inflated into a bubble.
Fortunately, the current recession appears to be nearing a bottom, and a slow recovery may take root as early as the fourth quarter. Many observers have referred to this period as a "reset," by which they seem to mean a recalibration of personal, corporate and civic values. Part of this recalibration is an increase in the personal savings rate and perhaps a rethinking of the meaning of value in the goods and services that we consume. This process likely will have long-term consequences for retailers, developers, investors, and consumers that will endure beyond the recession.
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