Commercial Property News - October 2008 - (Page 24)

INDUSTRY PULSE INTERNATIONAL Intuit Real Estate Solutions – Drive Strategy, Execution and Performance Management in One Integrated Solution Southern Star Brazil Promises Retail, Corporate Expansion By Paul Rosta n the midst of global economic tumult, U.S. investors and service providers continue to be bullish about Brazil’s prospects. “Everyone is still upbeat,” reported David Berger, managing director of Latin America and the Caribbean for NAI Global. “The change has been even more positive (recently).” While investment in more mature real estate markets was plummeting, first-half-of-the-year investment sales volume in South America’s largest country jumped 40 percent from the same period in 2007, according to a study by Real Capital Analytics Inc. During that time, investment volume in the United States fell 63 percent. Benchmark indicators suggest that Brazil will continue to make strides toward economic maturi- A Commercial Management Solution Speciﬁcally Designed to Meet Your Business Needs and Give You a Competitive Advantage I ty. Gross domestic product grew 5.4 percent in 2007, and this year’s growth is projected to reach 4.5 percent, noted Peter Linneman, Albert Sussman professor of real estate, finance and public policy for the Wharton School of Business of the University of Pennsylvania. The discovery of vast oil reserves off the coast of Rio de Janeiro last year could further speed trends that are already in full swing, Linneman predicted in a recent report published by PricewaterhouseCoopers L.L.P. Job growth linked to oil fields will help cut unemployment from the current 8 percent rate, increasing disposable income G IMPACT – Strategic planning and ROI analysis. Create and model multiple investment scenarios, easily change critical investment assumptions, and quickly understand the short and long term ﬁnancial impact of alternative decisions on your real estate portfolio, now with robust waterfall capabilities. GLOBAL SNAPSHOT Face rents in the United States and Canada held relatively firm in the second quarter, though some markets saw rental-rate growth in Class A segments due to high-priced new construction. In the Asia-Pacific region, rent growth was moderate; that should continue to be the case in the short term in markets like China, India, Singapore, Hong Kong and Australia, given the continuation of tight market conditions. In 2009, rents will adjust, starting in Japan, where office rents have already begun to decrease. Rents are also declining in London but are still rising in Germany and Sweden. Most European markets will experience flat rental levels for the remainder of the year. (Q2 2008 Class A/prime office rental rates) Chicago CBD New York City Midtown Mexico City Metropolitan Area Toronto Downtown Frankfurt London West End Paris CBD Hong Kong CBD Sydney CBD Tokyo CBD $0 $37 $99 $30 $50 $64 $217 $120 $185 $65 $109 $50 $100 $150 $200 $250 G New – Cash-ﬂow budgeting. Streamline the budgeting process and support collaboration that result in more accurate budgets. You'll have real-time visibility into actuals, budgets, re-forecasts and proformas. G MRI – Operational performance. Seamlessly execute real estate functions, including accounting, lease administration, billing, reporting, project management and facility maintenance. To learn more about this complete set of offerings and how your company can beneﬁt, contact us at 866-230-4685 or email us at IRESsales1@intuit.com. Intuit Real Estate Solutions Source: Jones Lang LaSalle Inc. • www.joneslanglasalle.com 24 COMMERCIAL PROPERTY NEWS • October 2008 • www.cpnonline.com http://www.joneslanglasalle.com http://www.cpnonline.com

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CPN - October 2008 Contents Starting Line Industrial Data/Analysis Conferences Chicago Market Profile Finance International Title Insurance Brokerage Corporate Report

Commercial Property News - October 2008

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