Dolfin Tenant Improvements

01/31/2023

As we all know, the COVID-19 pandemic has significantly impacted California's commercial real estate market. However, according to CBRE, some sectors have been affected differently. For example, the office market has seen a significant decrease in demand as more companies have implemented remote work policies, leading to a 14.5% vacancy rate in the second quarter of 2021 - the highest in over a decade.

On the other hand, the industrial and logistics market has seen a significant increase in demand as e-commerce has risen during the pandemic, leading to a 2.7% vacancy rate - the lowest in over a decade, and rental rates for industrial space have increased by 7.3% year over year.

Furthermore, the multi-family sector has also seen demand growth as more people choose to rent instead of buy due to economic uncertainty. According to Zillow, the median rent in California has increased by 3.2% year over year.

It's important to note that California is a large and diverse state, and the commercial real estate market can vary greatly depending on the location. Some markets may be more affected than others by the pandemic. For example, the San Francisco Bay Area, with a large technology sector, may have been hit harder by the shift to remote work than other areas of the state.

While the pandemic has certainly brought its share of challenges, there are still plenty of opportunities for growth and investment in California's commercial real estate market. If you're interested in learning more, don't hesitate to reach out and let's connect!

01/30/2023

Despite a slowdown in transactions in the final months of 2022, Dallas-Fort Worth continues to lead all major U.S. metros for commercial property deals for the third year, according to the latest MSCI Inc. estimate. With more than $42.5 billion in commercial properties sold in the DFW area in 2022, it's no surprise that Dallas-based CBRE was the top-ranked firm for commercial real estate investment sales nationally for the 17th straight year. Strong job growth and major migrations to Texas are cited as the driving factors behind DFW's success in the commercial real estate market.

01/27/2023

Florida's commercial real estate market is thriving despite nationwide challenges. With strong demand in the office, industrial, and multi-family sectors, South Florida continues to attract major players like Citadel, Microsoft, WeWork, and Blackstone. Thanks to its business-friendly environment, tax-free status, and robust migration, Florida will become a top destination for commercial real estate investment in 2023.

South Florida’s commercial real estate market – in sectors such as retail, multi-family and industrial – is ending the year strongly.

01/26/2023

2023 Predictions for Florida's Commercial Real Estate Industry: Rising interest rates, prolonged supply chain issues and how the industry will adapt.

Rather than riding out the supply chain delays, William Wilson expects the industry to adapt by going by worst-case scenario timelines.

01/20/2023

According to research from Ariel Property Advisors, the New York City office market shows signs of growth and demand. In the first half of 2022, investor demand for office buildings in the city rose to $4.7 billion, an 11% increase from 2H 2021 and a 353% increase from 1H 2021.

Two transactions that stood out in the market include Google's $2.1 billion purchase of the St. John's Terminal in SoHo, which accounted for 45% of the dollar volume in this asset class, and RFR's purchase of 475 Fifth Avenue in Midtown for $290 million, which is more than double the amount paid for it in 2011.

Tech companies such as Google are leading the way in creating unique and amenitized workspaces to retain knowledge workers, and this trend is expected to continue. Other tech giants like Amazon, Meta (Facebook), Roku, and Microsoft are also investing in the office market by leasing or renovating office spaces in desirable locations and leaving it to landlords to make significant improvements.

Investors are also looking for quality and well-tenanted buildings in desirable locations, as seen in RFR's acquisition of 475 Fifth Avenue and other recent transactions like Commonwealth Partners’ $1.033 billion acquisition of Hudson Commons, Meadow Partners’ $288.23 million purchase of 95 Morton Street and Macquarie Asset Management’s $130 million acquisition of 375 W Broadway.

Stay tuned for more updates on the New York City office market! "

01/19/2023

As the commercial office space market continues to evolve, we see some interesting trends emerge in the lending landscape. From increased demand for flexible office spaces to a focus on energy-efficient buildings, it's clear that businesses are looking for properties that can adapt to their changing needs. At the same time, alternative lending sources are becoming more popular as traditional banks become more cautious in their lending practices.

A particularly noteworthy trend is the growing interest in co-working spaces. These flexible workspaces are becoming increasingly popular among businesses of all sizes, and lenders are taking notice. They see co-working spaces as a way to generate stable income streams and are becoming more willing to lend to these types of properties.

As companies are looking to reposition their offices to meet the new demands, Lenders are also showing more interest in funding renovations and upgrades to existing office buildings. This can help increase the value of the property and attract new tenants.

As the lending landscape continues to evolve, it's essential to stay on top of these trends and understand how they may impact your business.
-working .

01/17/2023

It looks like things might be a bit rocky for commercial landlords soon. If they have to lower their rents, tenants will likely have to make do with less money for landlord-provided Tenant improvements to their new space.

Dolfin is here to bridge that gap with intelligent and effective TI financing options.



Read the full article:
http://ow.ly/oIv950MsUyH

01/16/2023

“Our lives begin to end the day we become silent about things that matter.”

01/13/2023

The U.S. office market has seen a decline in listing rates and an increase in vacancy rates in the past year. According to recent data, the average listing rate for office space in the U.S. stood at $38.06 per square foot, a decrease of 3.1% year-over-year. Additionally, the national vacancy rate rose 110 basis points to 16.2%.

Despite these challenges, there is still a significant amount of under-construction office space, totaling 132 million square feet in November. Additionally, office sales for the first 11 months of the year totaled $80.4 billion.

Some cities are seeing growth in their office markets despite obstacles. Seattle, for example, is moving forward with 5.6 million square feet in office projects despite tech layoff challenges. However, other cities are facing more challenges. The Twin Cities’ sales price of $124 per square foot remains the lowest among leading office markets.

The Atlanta office market is promising, with a sales volume of $3.66 billion, putting it on track to surpass 2021 totals. On the other hand, Manhattan is still seeing an increase in vacancies but still commands the nation’s highest asking rent at $75 per square foot.

While the U.S. office market faces challenges, some cities still see growth and investment. The market's future will likely depend on various factors, including economic conditions and the ongoing effects of the COVID-19 pandemic.

01/11/2023

Dolfin is a innovative Fintech start-up that provides Tenant Improvement (TI) financing through fully amortizing leases. Our platform is designed to help Tenants and Landlords free up their capital for higher return investments, while providing an automated lending process that simplifies sourcing, underwriting, and closing TI loans. We're dedicated to improving the corporate real estate industry and passionate about building relationships while offering fast, efficient, and highly tailored loan options to our clients. With our cutting-edge technology and dedication to customer success, Dolfin is leading the way in the industry.