Frankfurt Turns Offices to Homes as Excesses Lift Vacancy


By Patrick   Follow   Fri, 9 Nov 2012, 11:05am   426 views   3 comments
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http://www.bloomberg.com/news/2012-11-08/frankfurt-turns-offices-to-homes-as-excesses-lift-vacancy.html

Such projects will account for more than a fifth of the homes coming onto the market this year, city government data shows. Office owners dont have the interest or funds to renovate buildings from the 1970s, so they put their old properties on the market, said Vankadari, 48, a founding partner at Frankfurt-based Mercer Street Capital GmbH. We started focusing on buying office buildings when residential prices became too expensive.

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  1. zzyzzx


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    Baltimore, MD

    1   11:19am Fri 9 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    I was wondering if this was ever going to happen in the US, since we have so much vacant retail space.

  2. thomaswong.1986


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    2   8:50pm Fri 9 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    zzyzzx says

    I was wondering if this was ever going to happen in the US, since we have so much vacant retail space.

    already happening for some time... more and more commercial land rezoned to residential opening up new developments...

    and with city/counties going into the deep debt, they may well start selling land for development.

    SF South Bay has about 20% R&D vacancy .. 25% in North SJ/Milpitas/Fremont area.

  3. REpro


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    San Jose, CA

    3   11:44pm Sat 10 Nov 2012   Share   Quote   Permalink   Like   Dislike  

    Metropolitan Office Rankings (Q3 2012)

    Based on 190 U.S. Markets

    Value: Rent GrowthVacancy Rate

    151.

    Indianapolis, IN

    20.4%

    152.

    Macon, GA

    20.4%

    153.

    Jacksonville, FL

    20.5%

    154.

    Atlanta, GA

    20.6%

    155.

    Elkhart, IN

    20.6%

    156.

    San Jose, CA

    20.6%

    157.

    Cleveland, OH

    20.7%

    158.

    Sarasota, FL

    20.9%

    159.

    Scranton/Wilkes-Barre, PA

    20.9%

    160.

    Greensboro/Winston-Salem, NC

    21.1%

    161.

    Rockford, IL

    21.5%

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