Austin, Atlanta Lead Race to Win Amazon's HQ2

Written on October 26, 2017 at 11:44 AM

After Amazon announced plans in September to build a second headquarters (HQ2) in an undetermined location, hundreds of local officials across North America have submitted proposals to try and win the $5 billion construction investment and 50,000 new jobs for their city. In an effort to lure Amazon, proposals boast potential tax breaks, local benefits and opportunities.

However, Moody’s Analytics metro area analysts ranked the largest metro areas using a data driven approach, and made the case for an individual city based on qualitative judgment. The analysts looked at five factors: business environment, human capital, cost, quality of life, and transportation. It then assigned a number to each city and a weight to each factor to come up with its list of 10 cities. An additional category, geography, was considered, but was not factored into the rankings. Moody's excluded Seattle, the site of Amazon's current headquarters, from consideration.

Below are Amazon's Top 10 Cities, according to Moody's Analytics:

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Categories: Pennsylvania, Georgia, Real Property, Massachusetts, Texas, New York, Florida, Oregon, Utah

Inside Oregon’s Unprecedented Development Boom

Written on July 18, 2017 at 12:15 PM

Oregon is facing a chronic labor shortage amid a multibillion-dollar tsunami of real estate development depleting the pool of skilled construction workers. Portland issued nearly 12,000 buildings permits through the first 10 months of its current fiscal year for a record $2.5 billion in projects, easily eclipsing the previous high of $1.9 billion set the year before. The construction workforce plummeted after the Great Recession, and the city was unprepared when then the slow recovery transformed into a storm of development. There’s an estimated 10,000 open jobs, and the labor shortage has led to delays and helped feed rising construction costs. Some developers allege it's also contributed to lapses in quality.

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Categories: Construction, Real Property, Oregon

Forbes: 5 U.S. Cities Poised To Become Tomorrow's Tech Meccas

Written on May 30, 2017 at 04:06 PM

While Silicon Valley remains the nation’s most vibrant tech center, the area's innovative spirit is spreading across America. More than two-thirds of tech workers now feel little or no need to live in the Bay Area, and talent is migrating to new metropolisesBelow are 2017s Top 5 tech meccas looking to overthrow Silicon Valley, according to Forbes. 

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Categories: Washington, Georgia, Hi-Tech, Colorado, California, Oregon, Utah

Report: Top 10 CRE Markets to Watch in 2017

Written on October 31, 2016 at 04:37 PM

The Urban Land Institute and PwC recently released Emerging Trends in Real Estate 2017, an in-depth outlook report that reflects the views of more than 2,000 professionals in real estate development and investment who completed surveys, conducted interviews, or participated in focus groups as part of the research process. The reports includes a "Markets to Watch" section, that takes an expanded look at all 78 markets included in this year’s survey. 

Survey respondents shuffled the markets a little for 2017. Austin, which has been a fixture in the top ten for the past few years, is getting its turn at the top. Austin's market has benefited from a diverse economy that was affected in a minimal way by the global financial crisis, a growing population base made up of an educated labor force, and the undeniable “hip” factor that makes Austin attractive to the millennial dominated workforce.

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Categories: South Carolina, Washington, Real Property, North Carolina, Tennessee, Texas, California, Oregon

Survey: 11 Best Non-Gateway Cities for CRE Investment

Written on May 05, 2016 at 05:31 PM

Due to low cap rates and sky high prices in gateway cities, many commercial real estate investors in search of good yield are turning to non-gateway markets as a more appealing and affordable option. A recent “State of the Market” survey by global law firm DLA Piper found that 78 percent of real estate professionals it surveyed agreed that non-gateway markets will come to the forefront of investment preferences in the next 12 months (33 percent said they agreed, and 45 percent said they somewhat agreed). The preference was more pronounced among domestic rather than foreign investors, DLA Piper reports.

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Categories: Washington, Georgia, Real Property, North Carolina, Colorado, Tennessee, Texas, Florida, Oregon

New Filing Deadline for Personal Property Tax Returns in Oregon

Written on September 18, 2015 at 07:15 AM

This past year, the Oregon legislature made some important law changes that will affect each individual, partnership, firm, or corporation that has taxable personal property. Effective with the 2016 Personal Property Tax Return, a new filing date for all returns has been established and will be March 15, 2016. Previously, the due date was March 1st each year. There is no longer an opportunity to file a request for an extension beyond this date. Returns filed after March 15, 2016 will be assessed a penalty.

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Categories: Personal Property, Oregon

Multifamily Rents Continue to Soar to New Heights

Written on August 12, 2015 at 12:09 PM

U.S. Apartment growth is not showing signs of moderating, according to the July 2015 edition of Matrix Monthly, a report on U.S. multifamily market trends in the 101 U.S. markets surveyed by real estate software developer Yardi. Apartment rents in the United States rose 6.5 percent year-over-year in July to a record $1,155, up 20 basis points from June and the highest rate of growth in the current market cycle. Technology-fueled markets in the Western U.S. continued to spearhead year-over-year growth, led by Portland (14.6 percent), Denver (13 percent) and San Francisco (9.8 percent). Although markets in the Midwest, Northeast and Mid-Atlantic continue to lag the rapidly-growing metros in the South and West, growth is strong across the board. Rents increased by less than 4% year-over-year in only five metros, and only three were below the national long-term average of 2.8%.

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Categories: Maryland, Pennsylvania, Minnesota, Washington, Georgia, Apartments, Colorado, Multi Family, Illinois, Virginia, California, Florida, Oregon

NREI: 5 Secondary Office Markets to Watch

Written on August 10, 2015 at 11:20 AM

Office investment has taken off in the past two years, with the national sales volume in the sector rising to about $40 billion in the second quarter, according to the National Real Estate Investor. However, the high demand for office building in primary markets has pushed down available yields, causing investors to shift their attention to secondary markets in order to find higher returns. Office property sales in secondary markets totaled $8.5 billion in the second quarter, representing the strongest quarter since the recession and a 19.6 increase from a year prior, according to commercial real estate services firm JLL. In addition, the current urbanization movement and the growth in fundamentals, such as increased employment, is making secondary markets even more attractive to investors.

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Categories: Pennsylvania, Office, Minnesota, Georgia, Real Property, Wisconsin, Oregon

Oregon Gov. Signs Data Center Property Tax Bill

Written on April 07, 2015 at 09:42 AM

Gov. Kate Brown signed Senate Bill 611 last week, ending the controversial “central assessment” tax of data centers that created years of legal uncertainty for tech companies in Oregon and threatened future growth of the industry in the state. The legislation spiked global interest, as it hopes to trigger a data center boom and attract tech giants such as Amazon, Facebook and Apple to rural Oregon by changing rules for assessing property taxes on telecommunications infrastructure by exempting data centers coveted by local governments for their heavy utility fees. The bill also caps taxes that can be levied on cable TV companies, including Comcast. However, a gaffe in the bill's language has lawmakers pursuing a fix they hope will will attract Google Fiber to the Portland area.

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Categories: Real Property, Hi-Tech, Data Centers, Oregon

Portland Rewrites Tax Abatement Policy to Attract Internet-based Companies

Written on February 25, 2015 at 09:50 AM

In an effort to lure more internet-based companies to Portland, city officials have rewritten a key policy to extend tax breaks to such businesses. The Enterprise Zone ("E-Zone") program offers tax abatements of up to five years on new capital investments for businesses located in specific, city-designated geographies. While similar updates have been made in the past to recruit specific companies, such as Nike, officials say this change was made with no specific project in mind.

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Categories: Real Property, Oregon

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