Housing recovery blossoms

September 19, 2012 in Articles

Author: Les Christie
Publication: CNN Money

The U.S. housing industry -- crucial to any jobs recovery -- showed more signs of strength, according to two reports issued Wednesday.

The Census Bureau said housing starts and permits rose substantially in August. Separately, sales of previously occupied homes climbed 7.8% from a year ago, according to the National Association of Realtors.

Builders started on new homes at an annual rate of 750,000, up 29.1% compared with a year earlier. They applied to build another 803,000 new homes on an annual basis, a 24.5% jump compared with August 2011.

Home builders have become increasingly bullish -- a confidence index from the National Association of Home Builders reached its highest level since June 2006.

Even after recent gains, housing starts lag well behind the peak set in May 2005, when the pace of building hit more than 2 million homes.


Karen Rich named 2012 Maine Commercial Broker of the The Year

September 16, 2012 in News

Congratulations to Karen Rich on being named Maine's 2012 Broker of the Year by the Maine Commercial Association of Realtors. Karen Rich, Broker and Vice President at Cardente Real Estate, has played an integral part in the creation and success of our company.
Since 1991, Karen has been a commercial broker special-
izing in the sale and leasing of investment, retail, and office properties throughout the State of Maine. Some of Karen’s more notable transactions include the $15,000,000 sale of the Custom House Garage in Portland, the redevelopment and leasing of the retail corridors off of Western Avenue and Gorham Road (developments that literally have changed the entryway of South Portland’s Retail District), and just this Summer, the re-tenanting of 15% of office space at the Peo- ple’s United Bank Building at 465 Congress Street in Down- town Portland.
Karen is currently on the Board of Directors for the Maine Commercial Association of Realtors and was the Keynote Retail Speaker for the 2012 MEREDA Conference. Please help us congratulate Karen Rich on such a remarkable achievement.


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Brahms Mount to Join Jameson Tavern in Freeport

September 12, 2012 in News

Cardente Real Estate is pleased to announce that 4,450 +/- square feet of retail space has been leased at 115 Main Street in Freeport, Maine. Located next to LL Bean, this building is occupied by the famous Jameson Tavern Restaurant and will also be the future retail flagship location of Brahms Mount. Stay tuned for more information.

Global development surging, Summit told

September 12, 2012 in Articles

Author: Staff of Shopping Centers Today
Publication: International Council of Shopping Centers

With roughly 30 million square meters (about 320 million square feet) of retail space under development around the world — equivalent to the combined total currently available throughout France, Germany and the U.K., notes global property adviser CBRE — there is plenty to talk about.

“Ninety-four percent of mall development in the past five years has taken place outside the U.S.,” Brad Hutensky, ICSC’s chairman, and president and principal of Hutensky Capital Partners, told the more than 1,200 delegates attending the Summit. “We all speak the language of retail.”

Last year saw the openings of shopping centers in 63 of the 180 cities CBRE surveyed around the world, and 50 of those centers went up in emerging countries; only five opened in West European cities.

 


Commercial Real Estate Remains Highest Rated Investment Alternative

August 30, 2012 in Articles

Author: Olivia Baeza Gellman
Publication: CCIM
Press Release
PRESS RELEASE
Posted August 30th 2012

Despite declining economic conditions, sector provides long-term stability, according to CCIM and RERC data.

Despite the declining economy and investment environment, CCIM members report that investors continue to seek apartments, medical office buildings, land, and agricultural properties, according to CCIM Institute and Real Estate Research Corp.’s 3Q12 RERC/CCIM Investment Trends Quarterly. CCIMs also reported upticks in retail and office activity in isolated regions.

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