NAI Global Reports Healthy Growth in Real Estate Sector

The second quarter of 2017 saw an impressive demand when it came to the real estate industry. This includes retail, office, and industrial real estate throughout 21 markets in the United States. This is good news for companies such as NAI Global, a subsidiary company of C-III. C-III is owned by Andrew L. Farkas, a well-known leader in the world of real estate.

This steady growth was a major turnaround from the quarter before. Specifically, net absorption for industrial real estate rose to 71.8 million square feet, which is up by 1.2 million from the quarter before. This is great news for properties owned by NAI Global and C-III alike, which exist around the country.

As far as office real estate goes, 19 markets experienced an increase in rent. The only two exceptions were the New York and Chicago markets. On the other hand, the retail estate industry saw an increase in rent across all 21 markets by first 1.6% and then 1.8%.

The FRICs, SIOR, and President of NAI Global expressed his enthusiasm his enthusiasm about this progression in real estate: “Sustained positive trends are an encouraging sign for investors looking for stable returns,” Jay Olshonsky said. NAI Global and C-III are enthusiastic to see where this growth will take their companies.

This could not have been done without the expertise and guidance of NAI Global and C-III’s leadership. In particular, Andrew Farkas has put forth tremendous effort to see that both his companies and the real estate community thrive equally well. With the recent acquisition of properties in Denver and Miami, the forecast for C-III certainly looks positive.

C-III Acquires Property in Metropolitan of West Denver

C-III Capital Partners, a commercial real estate services and asset management company under the leadership of Andrew L. Farkas, has recently partnered with Cress Capital to acquire Union Towers in Lakewood, Colorado.

Located at 165 South Union Boulevard, Union Towers is a 10-story, 210,000 square-foot office building. It’s also within walking distance from public transit station Federal Center. C-III and Cress Capital finalized this purchase in early December of 2017 for $25 million.

Minutes away from shopping centers and several restaurants, West Denver is expected to see tremendous growth in the near future. This is extremely beneficial for its residents, who have been experiencing increased living costs downtown and longer commutes.

C-III is excited about the potential of this acquisition. A company that already owns properties in major cities in the United States of America, C-III is eager to help communities such as West Denver thrive in every way possible. With over 20 years of experience, this company has a rich history of managing real estate across the country. Aside from owning property globally, C-III also owns properties in major cities such as Dallas, New York, and now Denver.

Andrew L. Farkas is a leader in real estate and finding new opportunities for thriving areas like Lakewood. As the CEO of C-III, Andrew Farkas has made sure that this company advances in the world of commercial and real estate services. His passion for philanthropy and his support of various charities reflects his desire to help various communities reach their full potential.

Andrew Farkas Honors Hasty Pudding’s Award Recipient

Derek McLane, a Tony and Emmy award-winning designer, will receive the Order of the Golden Sphinx Award at The Hasty Pudding Institute of 1770’s 2018 gala, scheduled to take place on April 16. Andrew L. Farkas, a renowned leader in the real estate industry, is the Chairman of this Institute. Founded in 1795, the Hasty Pudding Institute is the comedy and satire performing arts organization located at Harvard University.

Andrew Farkas remarked on Derek McLane’s talent in the following statement: “Whether you’ve encountered Derek’s work on a Broadway stage or at this year’s Oscars, you’re sure to have seen it. And so we are privileged to present the Hasty Pudding Institute of 1770’s highest honor, The Order of The Golden Sphinx, to Derek McLane, a man who creates the striking visuals and impressions that stay with us long after a show ends.”

Not only is Andrew Farkas Chairman of the Hasty Pudding Institute, but his family is also a sponsor of the organization. In addition to the Hasty Pudding Institute, Andrew Farkas is also involved with Playwrights of New York (PONY).

Andrew Farkas is additionally well-known across the nation for his roles as CEO of Island Capital Group, C-III Capital Partners, Resource America Inc., and Anubis Advisors. All four real estate companies are dedicated to managing a diverse group of real estate services throughout the nation through the leadership of Andrew L. Farkas.

The Hasty Pudding Institute is excited for this year’s Order of the Golden Sphinx Award recipient, Derek McLane, to receive this honor at the Institute’s 2018 gala.

Farkas’s IGY Marinas Sponsors Charity Fishing Tournament

IGY Marinas Cabo San Lucas sponsored a local fishing tournament to aid Hope for Los Cabos, a charity committed to Cabo’s disadvantaged families.

The 2017 Bisbee Black and Blue tournament ran for five days from October 23rd, and is an opportunity for hundreds of teams and anglers to compete in fishing for Black and Blue Marlin. The tournament began 37 years ago, and has continued to grow in Cabo in the years since.

Any and all marlin caught, regardless of whether or not they reached the 300-pound minimum to qualify, are donated to Hope for Los Cabos. This year, 120 teams caught 11,249 pounds of Black and Blue Marlin, which equals 33,747 meals to be delivered to the families in need of Cabo San Lucas.

In addition to the food donated to Hope for Los Cabos, the tournament also features a charity auction and raffle programs that raised nearly $200,000 for beneficiaries. Beneficiaries include the Green Scholarship Program and La Paz University, which awards 4-year marine biology scholarships to students to complete their education.

The tournament also places a focus on marine conservation. Any fish caught that is not a Black or Blue Marlin, including striped marlin, sailfish, and spearfish, is released back into the oceans, with top release teams also receiving a prize.

IGY Marinas, formerly Island Global Yachting, was founded in 2005 by Andrew Farkas, who currently serves as its chairman. Since its founding, IGY continues to be an industry leader as one of the largest marina companies in the world. IGY’s sponsorship of the 2017 Bisbee Black and Blue tournament, is one small way the organization gives back to the communities in which it operates.

C-III Capital Partners Asset Curbs Pollution

A property in Suisun City, California owned by C-III Capital Partners was recently outfitted with new storm drain filters and screens to curb pollution to the Suisun March.

The Heritage Shopping Center was selected for the upgrade because it is considered a hot spot for oil leakage, and C-III Capital Partners wanted to work with the city to solve the pollution problem.

Funding for the upgrade came from a competitive grant that Solano County applied for and received through CalRecyle to battle the improper disposal of used oil. The county will put the grant towards a used oil and filter collection program for rural areas, as well as a bilingual multimedia campaign to encourage recycling.

The city plans to install a series of retractable storm drain screens and storm drain inlet filters to other properties to better catch refuse before it reaches the Suisun Marsh. The city also plans to install socks filled with an absorbent to collect oil that leaks from parking lot vehicles. The newly installed screens and filters at the Heritage Shopping Center will be maintained regularly.

The Suisun Marsh is the largest brackish water marsh on the West Coast, and is a critical part of the San Francisco Bay-Delta estuary ecosystem. The marsh also serves as resting and feeding grounds for tens of thousands of migrating and wintering waterfowl, and also provides a habitat for more than 221 species of bird, and more than 40 species of fish.

C-III Capital Partners is a leading commercial real estate services company. Under the leadership of chairman and CEO Andrew Farkas, C-III Capital Partners continues to expand its capabilities and assets, like the newly-outfitted Heritage Shopping Center.

Farkas’s C-III Capital Partners Joins Start-Up Investment

C-III Capital Partners joined a group of investors in a fundraising effort for a project management start-up called Honest Buildings. The project management platform compiles data for property owners to make construction projects more efficient.

The investor group, led by Brookfield Property Partners LP, raised $13 million for Honest Buildings with the goal of helping the platform establish an industry-leading standard to provide large property owners greater clarity in construction practices.

Honest Building curates a database that gives property owners access to cost savings through greater wealth of information that is sometimes still compiled on paper spreadsheets.

Honest Buildings founder and chief executive officer, Riggs Kubiak, said the database has increased the net operating income for companies using the platform by increasing project speed and reducing the cost of construction. The organization surveyed 60 clients in 2016, and discovered that the companies collectively saved about $100 million.

According to consultants McKinsey & Co, the commercial construction industry is among the least digitized sectors globally, which underscores the low productivity and consistent cost overruns and downtime the industry experiences.

Annually, $10 trillion is spent worldwide on construction-related goods and services, according to McKinsey.

Kubiak said the start-up plans to move abroad to Canada first, and then other countries alongside Brookfield.

This investment by C-III Capital Partners aligns with chairman and CEO Andrew Farkas’s past strategic efforts within the organization, which have provided an impetus for growth and various acquisitions that have expanded the organizations capabilities. Under the leadership of Farkas, C-III Capital partners has become an industry-leader in asset management and commercial real estate services.

Farkas’s IGY Marinas Operational in USVI After Hurricanes

IGY Marinas’ Yacht Haven Grande in St. Thomas, the US Virgin Islands, is open and operational after Hurricanes Irma and Maria battered the area earlier this year.

IGY Marinas reports that the Yacht Haven Grande is clear of debris, and that nearly 70% of its slips have reliable power and water, and are currently in use. Its “D” dock section still requires work, but will be fully operational within weeks. IGY also reports high demand for their slips in due to the condition of other marinas in the area.

The infrastructure of St. Thomas has also seen considerable improvements since the hurricanes. Electricity is restored to more areas daily, and current estimates place the overall repower at more than 50% of the island. Cellular coverage has largely been restored, while cable and internet repairs are underway but require more time to be operational. There are no longer curfews or other restrictions to daily life on the island.

Cruise ship traffic has returned to a near daily basis, with 5 ship days bringing in over 20,000 visitors to the island. Taxis are back on the roads, and transporting cruise ship guests to different destinations. Excursion boats, day sails, dive stores, and snorkeling adventures are open and operating daily. Restaurants, and other businesses are open.

In October, Founder and Chairman of IGY Marinas Andrew Farkas joined the Virgin Islands Hurricane and Resiliency Advisory Group, which focuses on hurricane damage assessments and recovery efforts in the territory. The advisory group was given $1.4 million to aid relief efforts, which was generated by the United States Virgin Islands Recovery effort.

IGY Marinas is a subsidiary of Andrew Farkas’s Island Capital Group, and is a leading organization within the global yachting industry. The re-opening of its marina in the USVI is an indication of the territory’s improvement after the hurricanes, and also a testament to IGY’s continued commitment to the economic success and restoration of the USVI.

NAI Global Affirms Real Estate Markets’ Growth

NAI Global, owned by Andrew Farkas’s C-III Capital Partners, says that the United States retail, office, and industrial real estate markets experienced robust demand in the second quarter of 2017. Rising rental rates and sustained low vacancy generated a sound economic foundation in the United States’ top 21 markets.

NAI Global’s president Jay Olshonsky said investors can expect steady returns in the second half of 2017, due to sustained, positive economic trends and data.

The industrial sector saw net absorption rise in nine markets and fall in 12, but nationally, net absorption in the industrial sector rose from 70.6 million to 71.8 million square feet. Rents rose by 1.6 percent, but vacancy remained near 20-year-lows in the industrial sector, decreasing by 5.1 percent.

The office sector experienced a third consecutive quarter of 9.6 percent vacancy, continuing the trend of 10-year-lows. Nationally, rents saw a marginal decrease.

The retail sector experienced steady net absorption, construction, and vacancy, as well as a 1.6 percent growth in rents. Vacancy remained at 4.8 percent, seen in three of the last four quarters.

Olshonsky also said that the continued construction and deliveries exemplify a steadily growing investment environment, with another quarter of low volatility and reliable returns.

NAI Global is a leading network of independent commercial real estate firms, and was acquired by C-III Capital Partners in 2011 under the direction of Chairman and CEO Andrew Farkas. C-III Capital Partners is a commercial real estate and asset management organization, founded in 2010 by Farkas, and continues to expand its platform and portfolio both organically and through acquisition.

Farkas’s IGY Expanding in Latin America

IGY Marinas announced its expansion in Latin America with the acquisition of Golfito Marina Village, a 50-slip facility in Costa Rica.

The marina is owned by Hacienda El Dorado S.A. and will join IGY’s three other Latin American marinas: Marina Cabo San Lucas in Mexico, Red Frog Beach Island Marina in Panama, and Marina Santa Marta in Colombia. On November 1, 2017, IGY will take over all marina operations, management, and branding initiatives.

The marina is one of the only private, natural deep-water marinas in the world, and can accommodate vessels of up to 500 feet. Golfito itself is a historic Costa Rican town adjacent to government-protected rainforests and beaches.

Those docking in Golfito will have access to IGY’s large vessel support network, the IGY Anchor Club Strategic Partners, which offers provisioning, crew training, emergency health service, and multiple other services. Golfito Marina Village also partners with a leading yacht transport company to ensure high-quality transportation services. The marina is the only approved drop-off and pick-up zone for yacht transportation ships on the west coast of Central and South America.

IGY’s future plans for the marina include and expansion of an additional 135 slips and a full-service yard. The surrounding area houses around 25 retailers, an open-air spa, and a luxury hotel that is slated to open within the next two years.

Island Global Yachting was funded and developed by Andrew Farkas, who currently serves as its chairman. Farkas is involved in IGY’s capital-raising, acquisition and operating efforts. IGY’s portfolio includes 18 marinas in 9 countries, that service more than 8,000 unique vessels and approximately 100,000 customers each year.

Modern Office Design Trends are Shifting. Here’s How:

At Island Capital Group, Andrew Farkas and company are leaders in the commercial real estate industry. Every few years, the design of the typical office environment changes. Last month, Emily Wright of London’s acclaimed “The Spaces” design magazine sat down with workspace innovators to learn how the office space is expected to change.

Leading design consultants such as Despina Katsikakis, the woman behind the new offices of Accenture, Microsoft and Morgan Stanley, predicts that the office as a workspace will shift from the traditional layout of rows of desks. Instead, it will have spaces that offer greater comfort and foster more collaboration. This comes not only as a way for businesses to save money by using space more efficiently, but also as a way to provide flexible environments that fit different types of work in the office.

Lord Norman Foster, the architect behind Apple Campus 2 in California, thinks that the office will become much “greener.” He understands that the incoming young workforce is passionate about the environment and sustainability. Given this, Foster predicts that companies will shift their design methods to build more environmentally friendly offices. This focus on sustainability is becoming economically savvy, as well as a way attract younger members of the workforce.

Tamara Brisk, a managing director at WiredScore, predicts that offices will become more dynamic. She posited that spaces will be usable for multiple purposes to allow for a greater accessibility and therefore efficiency of space. For example, she suggested that cafeterias will be designed to be easily transformable so they can be used for hosting meetings at all hours of the day, and that companies may even build isolated spaces that focus on fostering deep creative thought.

As the use of space in offices evolves and new trends take shape, Island Capital Group looks forward to their continued work in the commercial real estate industry.

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