News
Housing sector sees revival in June quarter, new launches rise 241%
In another sign of revival of the economy, the residential real estate segment witnessed the launch of several new projects across key cities during the second quarter of the calendar year ended June.
Hyderabad leads 5 metros in office space absorption growth
HYDERABAD: Hi-tech Hyderabad has emerged as the only metro market to have recorded a rise in office space absorption during the second quarter (Q2) as well as first half (H1) of 2021, global realty firm Vestian said on Friday.
Vestian Secures New 17,000 Sq. Ft. Lease for Medical Research Network
Vestian, a global commercial real estate firm, announced it has successfully negotiated a long-term lease for the new U.S. headquarters of Medical Research Network (“MRN”), a global provider of decentralized clinical trials.
Vestian Continues To Rank Amongst India’s Great Mid-Sized Workplaces
Vestian continues to rank amongst India’s great mid-sized workplaces 2021. This is the second year in a row that Vestian has received this honour. It is a testament to the strong team dynamics, cohesion, strength, and efforts of our employees.
Vestian continues to rank amongst India’s great mid-sized workplaces
Vestian continues to rank amongst India’s great mid-sized workplaces, 2021. This is the second year in a row that Vestian has received this honour. This recognition is an acknowledgement of the hard work of the employees, their trust in the organisation and their pride in their work amongst other aspects.
Vestian Acquires Juniper Solutions
Juniper, a leading specialty consulting firm, brings deep expertise in site selection, economic development, and commercial real estate consultancy. Juniper has a successful track record in growing economies through thoughtful real estate strategy and economic development advisory. Juniper’s clients include Fortune 1000 companies, privately held firms, health care organizations, higher education, the utility sector, retailers, and economic development organizations throughout America. The firm is led by industry veterans Dennis Burnside and Scott Pollock, who have a combined 50 years of real estate experience.
Preparing to Open Up With a 3rd Wave in Mind
Over a year has passed by since the Covid-19 outbreak changed industry norms across the world. In the case of the commercial real estate market, it led to deeper contemplation of various work elements and brought into focus the sector’s segregation of its ‘needs’ from its ‘wants’, even as offices turned to empty spaces at an alarming rate. The era of remote working had begun, so proclaimed many. Yet, the jury could not concur if that were a boon or a bane for industry.
Bengaluru leads office space leasing in Q1 FY 2021
Bengaluru remains the preferred destination for office space and continued to lead the way in absorption accounting for a 40 per cent share of the total leased space during the first quarter.
Hyderabad pips Bengaluru & Chennai in new housing launches: Report
HYDERABAD: India’s Hi-Tech city, Hyderabad, accounted for nearly 45% of the total new residential launches during the first quarter of 2021 among four key cities of the country, including Bengaluru, Kolkata and Chennai, according to real estate consultancy firm Vestian.
Growth, in challenging times
The recently presented State Budget promises to bring buoyancy to the residential market, improve connectivity, and promote industrial townships. By Shrinivas Rao
This is What the Upcoming Tenant’s Market Will Look Like
Think there is a tenant’s market right now? Stay tuned. As the nation begins to climb out of the depths of the COVID-19 crisis, landlords will “battle” over office tenants, according to a new report from Vestian, creating a tenant’s market unlike any other over the past few decades.
Office space absorption hits five-year low in Bengaluru
The absorption of office space in Bengaluru has hit a five-year low in 2020 as the Covid-19 pandemic caused a huge disruption across sections of the economy.
Bengaluru residential real estate market expected to see measured revival in coming quarters
Bengaluru residential market is expected to witness a measured revival in the forthcoming quarters, buoyed by the gradually opening up of the economy post the phased lifting of the lockdowns and the ongoing vaccine drive instilling confidence into market.
Looking Ahead: Commercial Real Estate Expert Outlook for 2021
CommercialCafe asked Vestian Chairman, Michael Silver, and other industry experts to share their thoughts on the outlook for 2021. What do tenants need in terms of office density? Have there been changes in preferred lease terms? What are their thoughts on growing interest in commercial properties in suburban markets? Read more for Michael’s take:
Affordable housing gets a push
The Union Budget 2021 has been one of the most awaited events this year. Slated to be ‘a budget like no other,’ it held a momentous bearing on the economy’s growth trajectory as it strove to steady itself after the Covid-19 pandemic and the subsequent economic upheaval.
Real Estate Firms Shift Focus From Office, Retail to Digital Infrastructure
“It’s logical that capital is flowing from hotel and retail, and even offices, to multi-tenant data centers,” said Michael Silver, chairman of Vestian. “The space is getting crowded with private equity going into it: The money is paying something like 20 times [cash flow] with a 5% cap.”
Vestian Expands Global Footprint
Vestian, a global commercial real estate firm, announces the expansion of its European, Middle East and Africa (“EMEA”) operation with the opening of its London office. Headquartered in Chicago, and with offices throughout the U.S., India and China, the opening of the EMEA office further expands Vestian’s global presence
Vestian secures strong deal for Lulu’s new HQ amid turbulent market
Morrisville, NC-based publisher, Lulu, scores deal for new headquarters space in Research Triangle Park amid turbulent office market. Vestian’s Brad Armstrong, Executive Managing Director, represented Lulu in the successful transaction.
Bengaluru attracts highest investment in real estate in 2020
Bengaluru has emerged as the top destination for institutional investment in the real estate in 2020 despite the Covid-19 pandemic causing huge disruption in the growth of the sector.
What lies ahead of real estate sector in 2021
The Covid-19 pandemic has impacted nearly every industry, including the real estate sector, and its impact will continue to influence the market long after the virus has been eradicated.
Impact of Pandemic on Commercial Real Estate (Podcast)
LISTEN: Vestian Chairman, Michael Silver, was live on Bloomberg radio discussing the changing national real estate dynamic and the effects COVID has had on commercial real estate. Listen to the informative recording highlighting the key impacts COVID has on the US market and the opportunities it presents to businesses that lease and invest in real estate.
The changing face of flexible workspace against the COVID-19 backdrop: survive and thrive
As businesses rethink their workspace utilisation, builders and developers have been quick to get their act together to offer a slew of options to businesses with attractive flexible workspace plans in keeping with their requirements.
Vestian Expands Raleigh, North Carolina Office Providing End-to-End Real Estate Solutions
Vestian announces the doubling of its Raleigh, North Carolina office. Joining the Raleigh team are managing directors Michael Morgret, Steve Paramski and Mark Urbanowicz. The team, led by Brad Armstrong, Executive Managing Director, has already earned a reputation for its deals and accomplishments in the Raleigh-Durham market having collectively completed over 1.5 million square feet of projects in the Triangle area.
Real estate firm Vestian bulks up in Raleigh, adds veteran brokers
A Chicago-based real estate firm is doubling down on its presence in the Triangle – literally – with the addition of three new managing directors after a bustling first year in Raleigh.
Real estate firm Vestian bulks up in Raleigh, adds veteran brokers
Vestian announced that managing directors Michael Morgret, Steve Paramski and Mark Urbanowicz have joined the Raleigh office. Together, the three-man team has 42 years’ experience in the industry and made the move to the Triangle for the region’s growing business activity and lifestyle offerings. Vestian launched its on-the-ground presence in the Triangle last year with a team led by executive editor Brad Armstrong.
Cochlear Manufacturing and R&D Facility in Chengdu, China
WATCH: Vestian’s team executes state-of-the-art project for Cochlear’s Manufacturing and R&D Facility in Chengdu, China
Three ways to adjust your office leasing strategies in the wake of COVID-19
Since the beginning of 2018, real estate markets have been thriving, with businesses leasing over 200 million square feet of Class-A, B and C office space across the 12 major metropolitan markets in the US, according to a market overview by Chicago-based real estate firm Vestian. Class-A office deals accounted for nearly 70% of this total. Across the nation, net absorption was positive, vacancy rates were dropping, and lease rates were increasing. Business was booming for landlords and brokers in a landlord-driven market.
75 percent of office tenants looking for rent concession
We’re in a new era for real estate where tenants are finding their voice in the market. Vestian’s chairman, Michael Silver, believes that 80 percent of tenants who ask for a break will get some kind of rent relief if not everything they ask for. Tenants will have negotiating power. Read more about his predictions for the future of the office market.
Office space absorption drops 65% at 4.11 million sq. feet in Q3
Reeling under the adverse impact of the Covid-19 pandemic, the absorption of office space across five key cities has declined 65% during the third quarter ended September 2020 as against the same quarter last year.
2.5-3 mn sq ft of warehousing space to come up in West Bengal in 3 yrs: Report
New Delhi, Oct 19 (PTI) West Bengal will see a fresh supply of 2.5-3 million sq ft of warehousing space over the next three years with an investment of around Rs 750 crore to meet rising demand from e-commerce firms, according to realty consultant Vestian.
As WFH becomes the new norm, absorption levels of commercial real estate segment take a hit
With pandemic continuing unabated, most companies switched to work from home
State of CRE 2020 Webinar with Matt Geary
Vestian's Matt Geary was asked to be a panelist on NYREJ's Annual State of Commercial Real Estate Webinar. Listen in to hear what Matt and other experts in the industry see for the future of CRE.
If home is ready, buyer is ready
Industry expert Shrinivas Rao says residential real estate market will pick up pace gradually in the next six months, despite the pandemic impact
Rebooting Indian commercial real estate post the lockdown: Will it herald a new vision for workplaces?
The Times They Are a-Changin’ – sang Bob Dylan, his much-celebrated verse perhaps resonating now more profoundly than ever. It has been almost eight months that the COVID-19 pandemic threw our world into a tumultuous spin; six months since it hit the Indian shores.
Bengaluru was not down even during lockdown
CREDAI chief says despite the unavoidable crisis, the city’s real estate will recover sooner than most other cities, and there is good demand for completed projects. By Ranjani Govind
Realtors see recovery from Covid-19 impact by December-end
The real estate industry expects to recover from the slump, seen during the Covid-19 induced lockdown during the first quarter this fiscal, by the end of the third quarter.
Companies give up 78 football fields in office space
Indian corporates and multinationals have given up over 6 million sqft of grade A (equivalent to about 78 football fields) in the first half of this year, mainly due to the impact of the pandemic that made them downsize their operations or delay expansion plans.
Bengaluru realtors offer discounts up to 10% on gross value, freebies to push sales
Besides cash discounts up to 10% on the gross value, many real estate developers are offering freebies that include EMI waivers, cashback schemes, flexible payment options, 5-gram gold coins and even a car on bookings of houses with a certain value among others across the country.
GSK, Google propel Bengaluru to top in office leasing
Aided by pharma major GSK and technology giant Google, Bengaluru led the office space leasing transactions in the country during the second quarter of calendar 2020.
Covid-19 adversely affects office space, residential launches in top Indian cities
HYDERABAD: The top five Indian cities of Bengaluru, Mumbai, Chennai, Hyderabad, and Kolkata have suffered a steep fall of 54% in office space absorption and a 71% decline in new residential launches during the second quarter of the year ended June thanks to Covid-19 outbreak.
Logistics sector inches back to normalcy; return to total normal expected in a few months
As the nation inches towards 'Unlock 3.0' the logistics segment has observed around 75 per cent normalcy and is moving towards pre-lockdown levels. There are hopes that it will be normal in the next couple of months.
Implementing technology & digital infrastructure is critical for transitioning back to the office
Organizations face a great deal of uncertainty about when and how they’ll emerge from the COVID-19 crisis. Implementing technology strategies and digital infrastructure is paramount. Vestian’s Kenneth Leon shares his tips.
Demand for office space may drop 25-30%
In 2019-20, India's technology hub Bengaluru witnessed absorption of 14 million sq. feet of office space, a drop of 3.4% over 2018.
Vestian Recognized as “Great Place to Work”
Vestian ranks 12 th in India’s Great Mid-Size Workplaces for 2020 and has been recognized as a “Great Place to Work in the Real Estate Sector”
Project crawls as building materials’ cost soars
The government and real estate regulatory authorities have given six months' extension to builders to complete their projects.
Vestian’s State of the Office Market Overview: A Perfect Storm
COVID-19 Accelerates Supply; A Tsunami Of Space Coming To Market
We are now in a new era for real estate. For the next 3-5 years, landlords will be facing a market that will heavily favor tenants due to excess space brought on by the landlord-driven market and COVID-19. The result is market opportunities for tenants not seen in 30 years with millions of square feet of office space becoming available as businesses shrink their footprint.
Coronavirus Lockdown: Warehousing space supply set to drop 44% in 2020
The development of Grade-A warehousing space is set to drop 44% across major cities during 2020. The new addition of warehousing space is expected to be around 12 million sq. feet by the end of this year.
Organised facilities management industry to benefit most from COVID-19 outbreak
New Delhi, Jun 8 (PTI) The USD 15 billion-organised facilities management (FM) segment is likely to benefit the most from the outbreak of COVID-19 in the country as businesses resume operations and citizens begin to adjust to the new normal, industry experts said.
Bengaluru attracts $1.6 bn investment in real estate in FY20
The city attracted $1.6 billion (about Rs 12,000 crore), about 37% of the total of $4.4 billion (about Rs 33,200 crore) invested in the country across residential, commercial and office projects.
Institutional investment in real estate drops 12% in FY'20 at nearly $4.5 bn
NEW DELHI: Institutional investment in Indian real estate fell 12 per cent to USD 4.48 billion (around Rs 33,800 crore) last fiscal year on lower economic growth and uncertainty over the coronavirus pandemic, US-based property consultant Vestian said.
COVID-19: WFH to impact office space demand in short-term, say experts
New Delhi, May 25 (PTI) Office space demand may fall by 5-15 per cent as corporates look to adopt to work from home (WFH) policy, but offices will not lose their importance as remote working poses various challenges like data privacy and staff productivity, according to top officials of eight property consultants.
Office space absorption set to drop 20-30% in 2020
The office space absorption is set to decline around 20-30% in 2020-21 as compared with the same in the previous year due to uncertainty over the time required for the Indian economy to return to normalcy, which is battered due to the spread of COVID-19 pandemic.
Work-from-home culture could drive lower demand for office space in 2020
It is quite evident that work-from-home (WFH) is here to stay for most corporates, as a majority of their employees are observing it amid the nationwide lockdown over COVID-19.
Vestian With Expertise From UL, Creates "Pandemic Protocols" Fostering a Safe and Healthy Workplace Environment
"As workplaces prepare to re-open, the need for proper risk mitigation policies and practices is more important than ever," said Michael Silver, chairman of Vestian. "Additionally, while it is almost certain that most businesses will adopt more flexible and remote work policies, the traditional office environment will continue to exist. But, those office environments will certainly experience a shift. Pandemic Protocols, based on strict and specific technical requirements, was developed for employees and employers to have peace of mind when they re-enter their offices. We are confident that Pandemic Protocols will become the gold standard for office managers faced with the enormous task of making today's workspaces safe and healthy."
Office rent rises by up to 8% in a year in Bengaluru, Mumbai, other cities
According to the data, the weighted average rental values of the five cities moved moderately, on a year-on-year basis, in the range of 0-8 per cent
Valuation question hovers as CRE market looks past lockdown
Michael Silver, chairman of Vestian, doesn’t think offices in major cities around the world will open until September or October at the earliest. He’s also predicting that the current crisis will knock values by 20% to 30% and estimated that about 85% of landlords will have to come up with a new game plan as global corporate users are looking to reduce rents and jettison excess space.
What Office Tenants Want From Their Landlords Right Now
GlobeSt.com features Vestian's tips for tenants approaching their landlords for rent relief.
Coronavirus has NYC buildings eyeing new cleanliness and security protocols
Vestian Chairman, Michael Silver, was interviewed by The New York Post to discuss how the coronavirus pandemic will affect business’ workplace protocols. Building owners are creating new cleanliness and security protocols amid fears that pandemics could become part of the new normal.
Investors Saw Office Buildings as Safe. Not During This Pandemic.
The Wall Street Journal interviewed Vestian Chairman, Michael Silver, to discuss how the current market has sparked a new era where the tenant will have the leverage. Vestian is helping their clients take control.
COVID-19 | Will constructions pause?
For a country struggling with economic growth, the year 2020 had been cautiously touted as a harbinger of hope..
Coronavirus causing severe disruption in supply chain, logistics
As of now, the impact of the COVID-19 coronavirus in terms of its disruption of supply chain and logistics has not been fully felt, as most sectors in India had a reasonable stock of materials due to the Chinese New Year holidays.
Hyderabad surpasses Bengaluru in office space absorption
Hyderabad witnessed the highest quantum of office space absorption during the second half of 2019 in the country, surpassing Bengaluru for the top spot, according to global real estate consultant Vestian’s recent report...
Housing segment was hoping for more
Low buyer demand and other issues not addressed in Union Budget. By Balaji Rao....
A bit for everyone in the budget
The Union Budget has been one of the most awaited events this year, with a slowdown in the economy ringing warning bells. Expectations ran...
Real Estate Expectations
In the upcoming Union Budget, initiatives for investments in affordable housing and hiking tax rebates on housing loans will help, says Shrinivas Rao....