|Yesterday, NAIOP's Capital Markets breakfast brought more optimism than last year. (Then again, so does waking up in the morning.) While panelists agreed that lending is still tight, they're seeing investors putting their money to work.|
Wrightwood Capital's Tim Walsh, The PrivateBank's Karen Case, and CBRE's Mike Caprile at the Riverway Auditorium. Mike thinks we'll see big changes in the capital markets this year, with more retail foreclosures and a glimmer of hope in industrial space, especially in high-class buildings in secondary markets. Karen says to expect lenders to look at your cash flow on every asset, not just the one you're looking to borrow for. Wrightwood recently returned a building to a lender, but Tim says it made the hard decision in order to keep the relationship with that lender strong.
Part of that glimmer of hope is CenterPoint Properties' new 6,000-acre intermodal site in Elwood.The intermodal is slated to open in August and already has a build-to-suit for Stepan Medical in the works, says Centerpoint’s Alan Bouchier-Hayes, here with IDI's Jeff Smith and CB Richard Ellis' David Prell.