Technology

October LightBox CRE Activity Index Retracts Slightly After Strong September

Published

2 weeks ago

November 6, 2024

IRVINE, Calif., Nov. 6, 2024 /PRNewswire/ — LightBox, a leading provider of commercial real estate (CRE) information and technology, released its Monthly CRE Activity Index for October, revealing a slight decrease in market activity after a strong September.

This aggregate measure of activity in commercial property listings, environmental due diligence, and appraisals collectively tracks shifts in the velocity of key functions that support CRE transactions, and therefore provides a useful leading indicator of deal activity. After a bullish 8.3-point rise in September, the Index ticked down 2.3 points in October to 95.9 but landed well above 79.7 one year ago.

The average daily volume of environmental due diligence activity behind the Index rose by 5% in what could signal the first round of underwriting on deals expected to close by the end of the year. Lenders’ appraisal activity month over month was stable, and property listings declined 5% after the strong 18% uptick over August, a sign of an expanding universe of available properties.

October’s slight dip aligns with historical trends, where the Index often softens after a strong August-to-September rebound. The uncertainty leading up to the November election and the higher 10-year Treasury rate both contributed to a cautious, “wait-and-see” sentiment on the part of investors.

“Our Index performance this month reflects both typical seasonal adjustments and broader market dynamics as stakeholders balance opportunities with election-related uncertainties,” said Manus Clancy, LightBox head of Data Strategy. “Investor confidence remains strong, but caution is prevailing as they anticipate both economic and political shifts in Q4.”

Despite the slight October dip, the CRE Activity Index heads into the final months of the year at a still-high 95.9 reading. Last year, November and December activity was lackluster as the market remained frozen at elevated interest rates with little relief in sight, ending 2023 at the Index’s four-year low of 48.2. With the November election in the rearview mirror, there can now be clarity emerging on several policy issues affecting CRE finance, including taxes, housing, climate change, and bank regulations, at a critical point in the market’s recovery.

After a slow start to 2024, some investors are actively shopping for opportunities while others are waiting until later in the rate cutting cycle. September laid the foundation for October’s strong deal volume, which will contribute to a continued stabilization in property pricing that will add momentum to Q4 activity.

“These signs of traction starting to build could contribute to a strong finish to 2024 as the market establishes a new normal that will eventually stabilize at levels closer to 2019 levels. Overall, the market is showing a growing intention to transact, and CRE professionals, are exhibiting more optimism than they’ve shown in several years, ” Clancy said.

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About LightBox

At LightBox, we are at the forefront of delivering advanced and precise solutions for commercial real estate intelligence. Our dedication to innovation propels real estate professionals forward by providing them with the essential tools required to navigate complex decisions, minimize risk, and boost productivity across the spectrum of real estate operations. LightBox is renowned for its commitment to promoting excellence and fostering connections in the industry, serving an extensive clientele of over 30,000 customers. Our diverse client base spans commercial and government sectors, including but not limited to brokers, developers, investors, lenders, insurers, technologists, environmental advisors, appraisers, and other businesses that depend on geospatial information. To discover more about how LightBox can illuminate the path to informed real estate solutions, visit us at: www.LightBoxRE.com

Media inquiries: media@lightboxRE.com

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SOURCE LightBoxRE

Technology

Oberon Securities Advises Keens Steakhouse in Sale Transaction

Published

1 hour ago

November 23, 2024

Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

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SOURCE Oberon Securities; Oberon Securities

Technology

Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

Published

4 hours ago

November 23, 2024

SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

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SOURCE Specified Technologies, Inc.

Technology

ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

Published

5 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

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SOURCE ZICC