Frankfurt Turns Offices to Homes as Excesses Lift Vacancy

By Patrick   follow   Fri, 9 Nov 2012, 3:05am PST   ↑ Like (1)   ↓ Dislike   679 views   3 comments   Watch (0)   Share   Quote  

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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zzyzzx   befriend (10)   ignore (6)   Fri, 9 Nov 2012, 3:19am PST   Like   Dislike     Share   Quote   Comment 1

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

thomaswong.1986   befriend (0)   ignore (6)   Fri, 9 Nov 2012, 12:50pm PST   Like   Dislike     Share   Quote   Comment 2

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.

REpro   befriend (1)   ignore (0)   Sat, 10 Nov 2012, 3:44pm PST   Like   Dislike     Share   Quote   Comment 3

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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