market report - Hanna Commercial Real Estate
Transcription
market report - Hanna Commercial Real Estate
MARKET REPORT 2ND Quarter 2013 | Corporate Services BUILDING BERLIN - FEATURED LISTING 2012 NAIOP AWARDS: We are excited to inform you of a unique opportunity to occupy a modernized historic office building at Französische Strasse 33 a-c, in Central Berlin near the Brandenburger Gate, Germany. Ostendorf Morris’ winners of 2012 NAIOP Awards of Excellence: Starting in 2014, your company can use a portion of the building (8,500 sq. mtrs) or the entire 11,500 sq. meters of highly presentable office, conference and event areas. This one-of-a-kind ensemble combines a protected monument raised in 1877 and a transparent glass and steel annex built in the year 2000. It also includes proprietary underground parking. Those attracted to the space, might utilize the Mobile LED Screen (20 square meters), integrated lighting and PA technology, lounge area for entertaining important guests or taking a mid-day break. You may also host a program in the impressive areas suitable for 1,500+ attendees. For more information please contact: David P. O’Neill Executive Managing Director & Partner Phone: +1 216-861-5612 Email: david. [email protected] Link to LoopNet - CLICK HERE BUILDING BERLIN Diana Golob Senior Vice President Phone: +1 216-861-5398 Email: [email protected] Congratulations to David O’Neill, Executive Managing Director and Partner, on winning the International Office Broker of the Year award. In 2012 David completed 4.4M square feet of transactions, including assignments around the globe on behalf of our multi-national clients in Luxembourg, Great Britain, Germany, Japan and various countries throughout Southeast Asia and China. North American activities led to completed deals in multiple markets including Los Angeles, Toronto, Chicago, and Cleveland. Community involvement included instruction and mentoring at the CSU Levin College of Urban Affairs, the Cleveland Catholic Diocese and various initiatives within the City of Cleveland. Congratulations to Diana Golob, Senior Vice President, on winning the International Industrial Broker of the Year award. In 2012 Diana was involved in completing 36 transactions with a total consideration of $63.8 million. She is a global transaction manager for Fortune 1000 clients and also represents tenants, owners and investors in Cleveland. She is the current President of Mid-Day Toastmasters, National Network liaison for CREW Cleveland, and volunteer for Global Cleveland. In her spare time she enjoys mentoring young professionals and helping them find employment opportunities. IASB & FASB CHANGES The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have released their latest version of the revised proposal of accounting rules for real estate and equipment leases. Public comments on this proposal will be accepted until September 13th 2013. This revised draft continues to require lessee recognition of assets and liabilities as rights and obligations created by a lease. An exemption in the latest draft allows leases of 12 months or less (option to extend the lease included) and an inconsequential portion of the assets to remain off balance sheet. Requirement to recognize assets and liabilities can potentially cause the shift towards short-term leases and in turn create an increase in credit risk for building owners. Under the current timeline, after assessing all the comments the boards could approve a final rule by next year, with new rules taking full effect by 2017. Ostendorf-Morris Company 1100 Superior Avenue, Suite 800 Cleveland, OH 44114 www.ostendorf-morris.com For more information please contact: David P. O’Neill, MRICS, SIOR, MCR Executive Managing Director & Partner Phone: 216-861-5612 Email: [email protected] MARKET REPORT 2ND Quarter 2013 | Corporate Services RECENT EUROPEAN PRESENTATIONS SUCCESS STORY David O’Neill gave a lecture in Hamburg, Germany on May 23rd featuring current office workplace trends in North America. Attendees included public and private sector market leaders, from university professors to leading European developers. A lively exchange was had with many of the corporate and institutional asset managers who were also in attendance. The conference was organized by Hafen City University of Hamburg in cooperation with the Institute of Economic and Construction Management. Subsequent to that, a talk was organized by RICS and delivered in Berlin on May 29th regarding the origins and current practices of commercial real estate service providers. Particular emphasis was placed on the macroeconomic forces which led to the establishment of global practices serving major multi-national corporations. A forecast of contrasting markets was also presented looking at the North American sector as compared to developing world activities. The results of a global survey conducted with corporate real estate executives was discussed as well. This part of his speech focused on future trends and how the corporate enterprise can become aligned with best practices in space letting and design throughout the European continent. PERSON OF FOCUS: SEAN ROONEY Sean has held the position of Senior Associate since May 2011, and is now working with clients to identify property solutions that address high level requirements and integrated global solutions. This includes transaction management of leasing activity, oversight of property databases, reporting, and providing advice with regards to portfolio management. Sean joined Ostendorf-Morris in February 2010 as the database and process manager for the Corporate Services Group, with responsibilities including collection and maintenance of property information for global clients and provision of periodic updates on all ongoing transactions, savings and gains directly to Senior Management. Sean holds a Master’s of Urban Planning, Design, and Development with a concentration in Real Estate Development and Finance from the Maxine Goodman-Levin College of Urban Affairs at Cleveland State University and Bachelor’s of Science degree in Psychology from Syracuse University. Sean has been a part of the Programming Committee of Cleveland’s chapter of the Urban Land Institute and is an active volunteer with Rebuilding Together Cleveland. In his spare time Sean enjoys running organized 5 and 10k races with his OM colleagues and friends. He also enjoys attending events at many of Northeast Ohio’s renowned concert venues. Ostendorf-Morris Company 1100 Superior Avenue, Suite 800 Cleveland, OH 44114 www.ostendorf-morris.com LAND SALE - BETHLEHEM, PENNSYLVANIA ArcelorMittal, headquartered in Luxembourg is the largest steel company in the world. It has attained this status through worldwide growth and acquisitions. In the United States one of its many acquisitions was the Bethlehem Steel Corporation which was America’s second largest steel producer and its largest shipbuilder. Following Bethlehem’s bankruptcy in 2001, the company was dissolved and its assets were sold to the International Steel Group, which merged with ArcelorMittal in 2005. The many acquisitions by ArcelorMittal left them with redundant steel mills and properties in the United States that represented untapped cash. Ostendorf-Morris has represented ArcelorMittal in their real estate dispositions in North America for many years. Most recently, OstendorfMorris was charged with selling the last eighty-eight (88) acres of vacant and surplus land remaining at Bethlehem’s former steel plant located in the Lehigh Valley area on the south side of Bethlehem, PA. The site was a former slag disposal and reclamation area that presented environmental, topographic and access issues. Working with the eventual buyer, the Pennsylvania EPA and local city and building officials over a four year period, all of the obstacles to developing the site were addressed and overcome. The sale was completed in March, 2013 and the site is currently under development to support industrial uses for distribution and warehousing. OUR MISSION STATEMENT Our mission is to provide consistent and unconflicted transaction management services for our regional and multi-national clients’ real estate portfolios as their trusted advisor. We serve with the finest professionals in the industry within an environment of trust, respect and open communication and partner with best-in-class local providers while working to build reliability and accountability with our clients. Ostendorf-Morris is a community-minded global leader pioneering in the delivery of Corporate Services to Fortune 1000 companies within the framework of an innovative value proposition. This report has been produced by Ostendorf-Morris Company and it is not intended to be a complete description of the markets or developments to which it refers. The report uses information obtained from public sources which Ostendorf-Morris believe to be reliable, but we have not vertified such information and cannot guarantee that it is accurate and complete.