| If you’re in commercial real estate in this economy, NYC and DC are the places to be (sorry Chicago), says Vornado’s Michael Fascitelli, Fried Frank’s Jonathan Mechanic, and Newmark Knight Frank’s Jimmy Kuhn, who respectively shared their investment, legal, and brokerage POVs yesterday at AREW’s monthly luncheon. Among the trends: We won’t see bargain basement prices for trophies in our lifetime; there’s a lot of posturing in the capital stack and a big distinction between which buildings are troubled and which aren’t; brokers need a NYC office and a clear identity for success; and retail has made a dramatic comeback since 4Q08. Here, they join Rhodes Associates’ Jane Lyons; Great Ink Communications’Roxanne Donovan, moderator; Caran Properties’ Rebecca Mason, AREW prez; and NKF’s Robin Fisher. |
| And now for the architectural scoop from some AREW members. Perkins+Will’s Debra Cole tells us that there’s much more activity from seven months ago, especially in healthcare and education. JJFD’s JJ Falk, who just completed a major project for Samsung, is working on the design and construction of Samsung Telecommunications America’s corporate offices and packaging facility. HDR CUH2A’s Mary Williamson says the future looks promising, with business picking up in science and technology, and HOK’s Juliette Lam says her firm is making its final decision this week whether to move to space at Bryant Park or Hudson Street. |
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