Category: Commercial Real Estate
Only 16 percent of Virginia's building contractors plan to hire workers this year, the lowest percentage of a survey of 1,300 firms in 50 states, Puerto Rico and Washington, D.C.
But 57 percent of Wisconsin firms plan to hire this year, more than any other state, according to a survey published by the Associated General Contractors of America and Computer Guidance Corp. released last Monday.
The forecast is based on a survey of 48 questions sent to industry firms and tabulated by Computer Guidance.
The U.S. Navy has awarded global real estate firm Jones Lang LaSalle Americas Inc. of Washington, D.C., a contract valued at $15 million.
In government parlance, the award is a firm-fixed-price, indefinite-delivery and indefinite-quantity contract for the Navy's and Marine Corps' Enhanced Use Leasing Program.
In other words, Jones Lang LaSalle will negotiate leases with the private sector for Navy- and Marine Corps-owned properties across the country.
By Philip Newswanger
philip.newswanger@insidebiz.com
Freemason shopkeepers tolerated the torn-up streets.
They tolerated the plastic orange barriers that were like slalom trials for vehicles.
They even tolerated the closed streets.
But then business fell. Customers complained they couldn't find the store or they had to park several blocks away.
So the shopkeepers asked the city for help.
At first, the city obliged with various promises, such as signs with a list of businesses, marketing and the promise of grants.
Jan Hall is the new president of the Hampton Roads Association for Commercial Real Estate, the second woman to assume the post in the trade group's 20-year history.
Like her predecessors, Hall, the vice president of RRMM Design-Build of RRMM Architects, has set definite goals for the organization this year.
"I want to see an increase in our membership and attendance," Hall said. "We are saturated with good events and great programs, and I don't think we need to add any more."
Gerald S. Divaris
Chairman, CEO
Divaris Real Estate Inc.
There are three primary areas of interest. First, on a macro-plane, there needs to be a more concerted effort on the part of all the cities of the Hampton Roads region to acknowledge each city's individual strengths, without one attempting to dominate the other - that will bring the best of our assets to the fore and thereby enable us to succeed in attracting new business to the region.
Scott Adams
President, Mid-South Region, CBRE Group
We entered 2012 with even more optimism building off what has been an outstanding 2011 for our firm financially.
For the Hampton Roads area overall, the fears of what will happen to Joint Forces Command [which was disbanded] have been proven overstated, and our area's housing market has fared incredibly well compared to previously high-flying markets like Arizona, Nevada, California and Florida. We feel fortunate to compete in such a strong and stable area.
Randy Lyall
Owner, Lyall Design
I live under a veil of impenetrable optimism so cast my vote for the affirmative.
2011 provided greater financial improvement for our business over 2010 and the firm is confident that the coming year will show improvement that, we trust, marks a turn in our experiences over the last few years.
Janice M. Hall
Vice president, director of business development, RRMM Design Build LLC and president of the Hampton Roads Association of Commerical Real Estate
I recently read that banks are reporting profits at pre-crisis level. That's great news, right? Well, it would be even better if our banks were lending money for commercial development.
Ed Kimple
Senior vice president and managing broker, Cushman & Wakefield | Thalhimer
I do feel it will be better just as we saw an increase in '11 over '10. Unfortunately our upside will continue to be limited until the banks can truly lend once again.
This economy has been good for our expansion efforts with new offices in Charlotte and Raleigh last year.
Another bright spot for 2012 is that we are starting to see new development plans surface for retail and industrial.
Mike Barrett
CEO, Runnymede Corp.
Real estate developers are categorical optimists by trade, but we must temper that with fiscal restraint. That said, we see 2012 as continuation and acceleration of the recovery, and expect new projects we have been permitting to move forward, and existing space to be taken by expansions of existing tenants and by new tenants as well. Why do we expect new tenants? Frankly, the economic recovery is gaining traction, and with the stimulus of an election year, we expect to receive our share, and perhaps a bit more as well.
