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Frankfurt Turns Offices to Homes as Excesses Lift Vacancy

By Patrick (153/153 = 100% civil)   2012 Nov 9, 3:05am   ↑ like (1)   ↓ dislike   743 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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1   zzyzzx (8/8 = 100% civil)   2012 Nov 9, 3:19am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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

2   thomaswong.1986   2012 Nov 9, 12:50pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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   2012 Nov 10, 3:44pm  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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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