Thursday, February 5, 2009

Thursday Tidbits - 2/5/2009

Here's some random thoughts from my fellow bloggers that caught my eye and that I recommend you read:

Michael Mandel has a great piece on shadow space in the Manhattan market, which, alas, paints an even bleaker picture of market conditions.

I never see anyone at my local Pier 1. I cannot believe it is still open. Apparently, I'm not alone in this thought.

The ever-informative Deal Junkie, has a good little piece from the NYT Economix blog arguing that CRE will not have a crisis similar to that in the residential market. I've also always thought that, too, but all bets are off in this market and perception may be more important than reality. (And here is David Bodamer's analysis at Traffic Court. His points are, imho, spot on.)

According to Retail Chatter, mega-retailer Tesco is trying to cram down rents with landlords on one side while trying to buy the fee interest in ground leased land on the other -- and at a 9 cap! Nice deal (for Tesco, that is) if you can get it.

The Sibdu Blog posts some well-needed suggestions from ULI and others to get liquidity moving again. I think that is the biggest problem we face right now.

Finally, here's a link to the Allen Matkins/UCLA California Commercial Real Estate Survey, courtesy of Square Feet. The title will say it all.