Washington DC April 2022 Key Take Aways
LEASING:
- With Apartments, there is a fair amount of activity with nervousness about interest rates affecting those deals.
- The golden age of apartments is not over just yet with hot spots of leasing around diversified nodes. People are coming back to work in these, with walkability being a factor in the light of gas prices. is “Is the office dead?” the new “Is Retail Dead?”
- Florida is seeing 30+% rent growth.
CONSTRUCTION + FINANCING:
- No significant new office building has come into the pipeline since the pandemic started.
- Lead times are almost prohibitive. They are giving maximum-priced contracts to the developers and contractors.
- Price holding within bidding processes is starting to cause conflict.
- Finished goods and equipment have been a problem, especially with light fixtures. 11-12 months to order aluminum products.
- There is a High volume of architectural renovation work. Bank of America, and United Healthcare groups are rolling out a lot of renovation projects. Low, medium, and high renovations. Even if it is adjusting an ATM for accessibility.
- lenders are being more strict about lending guidelines. Everything is riding on inflation and consumer sentiment. People are bracing for a recession.
Recent Comments