Commercial Property News - October 2008 - (Page 26)

INDUSTRY PULSE INTERNATIONAL largest metropolitan area. United States-based real estate firms are also expanding or entering the country. Companies like Binswanger Corp., Hines, Cushman & Wakefield and Jones Lang LaSalle Inc. all have a long track record in the country. But local executives predict that the nation’s commercial real estate market will raise the demand for various services over the next few years, providing even more opportunity. Goldenberg pointed to investment advisory, property management, project management and leasing. Hines, for its part, is driving to expand its industrial holdings. Stated plans include 14 new logistics parks by 2011. To be built in partnership with the California Public Employees’ Retirement System, the projects would significantly add to the industrial projects Hines already has under way. Current projects include 1 million square feet in the Sao Paulo suburb of Louveira.Also on its way is Cajamar Distribution Park, a 1.2 million-square-foot facility under construction near the highway system that rings the city. Despite the potential, veterans advise that firms planning to EXCEEDING EXPECTATIONS. SURPASSING THE COMPETITION. “Everyone is still upbeat (about Brazil). The change has been even more positive (recently).” —David Berger, NAI Global WWW.C WC A P I TA L .COM For more information or to discuss your speciﬁc ﬁnancing needs, contact: TAMMY HEYMAN | SENIOR MANAGING DIRECTOR | CAPITAL MARKETS | 646.253.8827 | THEYMAN @ CWCAPITAL.COM establish a beachhead in Brazil must also be aware of typical emerging-market hurdles. By some accounts, transparency in the country’s real estate market has improved; a Jones Lang LaSalle transparency study released this summer ranks Brazil the 13th-most-improved market worldwide. Nevertheless, old Brazil hands remind novices that rounding up vital information in the country is nowhere near as easy as it is in mature markets like the United States. “In Latin America or Brazil, if you need a valuation, you have to pay for it,” said Berger. He explained that in Brazil, routine fact-checking for a transaction can become a drawnout process requiring several thousand dollars’ worth of a broker’s time in order to dig through public records, interview civil servants and complete similar chores. Given this relative lack of transparency, conducting business in Brazil will require real estate firms to pay a premium for some years to come. But odds are that those companies will consider it a small price to pay for an opportunity to grow in one of the world’s most promising commercial real estate markets. —Reach senior associate editor Paul Rosta at paul.rosta@nielsen.com. 26 COMMERCIAL PROPERTY NEWS • October 2008 • www.cpnonline.com http://WWW.CWCAPITAL.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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