News
TRAPPING JOHN
February 8, 2010
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| There’s a difference between good journalism and felony stalking. We only know because we didn’t get arrested when we followed CushWake prez and CEO of the Americas John Santora all the way to Dallas. At an economic forecast event, he said we appear to be in the early stages of recovery. For one, there were declines in vacancy during 4Q in the seven major markets. In three of those, net effective 4Q rents increased. Some owners are meeting the market and taking opportunities to lock in credit tenants, the old blend and extend. However, many landlords face liquidity issues. Those who purchased at the peak of the market in 2005, their equity is gone, their ability to fund is gone, and their ability to tend property is suspect. |
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| John says employment is still declining, but should grow this year. Corporate profitability is up and there are improving trends in the Department of Labor stats. But, most compelling is that while overall payroll has declined, "office-using employers have increased by 150k jobs since August, particularly in the financial services industry and IT industry. With stats like that, we miss you, John. Hurry home. |
