Costar

Huffington Post…

Given the Internet’s role in helping democratic activists the world over break through government repression, we must be vigilant in protecting free speech online. But does freedom of speech require the freedom to steal? That’s what some are arguing, comparing our efforts to protect American jobs from international criminal enterprises who profit from the theft of intellectual property online to the censorship policies of repressive regimes. I served on the Senate Foreign Relations Committee for 30 years. I know what authoritarian and totalitarian censorship looks like. And the comparison is baldly false. We have not proposed, nor would we ever support, attempts to block political websites, censor social media, or silence artists because of what they want to say. I agree with Floyd Abrams — one of the nation’s preeminent First Amendment attorneys — who wrote in this Sunday’s Washington Post that the comparison “trivializes the pain inflicted by actual censorship that occurs in repressive states throughout the world.” “Chinese dissidents,” he added, “do not yearn for freedom in order to download pirated movies.” Piracy apologists have it backwards. If there is a threat to free speech here, it is that these international content thieves are destroying artists’ ability to make a living sharing their ideas. Indeed, while we who support cracking down on content theft are bound by — and deeply respectful to — the protections for free speech and due process enshrined in our Constitution, those who side with the criminals seem oddly unconcerned with another Constitutional principle. Just as the First Amendment defends Americans’ right to create, Article I, Section 8, Clause 8 — the Copyright Clause — guarantees Americans the ability to protect their creations from those who would steal them. That is why a nation that prides itself on the free exchange of ideas must also have strong copyright protections for those ideas. Today, such protections make it possible for more than 2.2 million Americans to hold good jobs supported by the content industry. And as Floyd Abrams wrote in a letter supporting our efforts to crack down on foreign rogue sites, “the Internet neither creates nor exists in a law-free zone, and copyright violations on the Internet are no more protected than they are elsewhere.” Indeed, the theft of intellectual property (which costs our nation 373,000 jobs and $58 billion in economic output each year) is itself the true threat to free speech, because it threatens to silence the artists whose creations — and livelihoods — are being stolen. Hollywood is pro-Internet — and I, personally and in my capacity as MPAA Chairman, have always supported a free, open, and thriving Internet. But it is simply false to suggest that the Internet cannot be free and open unless it is lawless. As Secretary of State Hillary Clinton wrote, “The State Department is strongly committed to advancing both Internet freedom and the protection and enforcement of intellectual property rights on the Internet. Indeed, these two priorities are consistent.” Critics of our efforts have engaged in outrageous hyperbole and logical gymnastics, misrepresenting not only Secretary Clinton’s words, but also my own, in an effort to equate protecting intellectual property with the tactics of dictators. That is an insult to the many champions of free speech who also support strong copyright protections. And, in the end, it is nothing more than a smoke screen for those who care more about their right to steal than about an artist’s right to speak. But with millions of American jobs on the line, we do not have time for misinformation and false comparisons. We must protect our intellectual property — or our content creators could be silenced for good.

Read this article:
Chris Dodd: Protecting Free Speech Online

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Huffington Post…

In a drawer somewhere, I have a nickel-sized coin of the Roman emperor Gallienus (ruled 253-268 AD). Gallienus is long-forgotten, but he shouldn’t be. He is one of the true fathers of inflation, and there should be a statue to him on the Acropolis in Athens and in the lobby of every government’s central bank. Gallienus was a victim of bad timing. Plagues and invasions had weakened the Roman Empire. Big chunks of it were seceding and rebelling. Gallienus rarely visited Rome. He spent most of his reign on the road, hunting down various barbarian hordes and rebel legions. And he fretted over his finances. Because of the wars and the decline of trade, (along with hoarding by nervous Romans), silver disappeared from circulation. Coins were almost impossible to come by. Gallienus’ money guys came up with a solution to this problem. They got the mint to stamp his coinage in copper. Then they put a silver wash on the coins. Gallienus paid his army with it. The resulting carnage left Gallienus and his entire family dead, his statues smashed and his monuments pulled down. Geneologists re-wrote family histories to erase Gallienus. I bring up poor Gallienus just hours after seeing Canada’s new polymer $100 bills. I was at a news conference where these bills were handed out to reporters. We had to give them back, but, while we had them, I went at mine with every intention of seeing if it really could not be torn or mutilated, as the Bank of Canada’s people said. Some of the people around me reacted in horror at the disrespect I showed to my little piece of plastic, as though “money” — even a piece of holographed chemistry that no one would accept as money right now — was somehow sacred. Money is what people think it is. A “dollar” used to be the same everywhere: one ounce of silver, give or take a small nip. A dime was 1/10 of an ounce of silver. A “penny” was, for hundreds of years, 1/240 of a Roman silver pound, which was 12 troy ounces. A British pound morphed from those 12 ounces of silver to ¼ ounce of gold, which was also about the size of a U.S. $5 gold piece. A U.S. $20 gold piece was just under one troy ounce of gold. A century ago, Canadians were very familiar with the big British copper penny, which was about the size of a loonie and had about the same purchasing power. But now money is all numbers, articles of faith. Canada’s paper money used to bear the words “The Bank of Canada will pay to the bearer on demand…” the number of dollars on the bill. The bill was a promise to pay money. By sleight of hand, the bill somehow became money. Money and governmental jiggery-pokery have always been intertwined. Henry VIII’s subjects called him “Old Copper Nose” because he watered his silver coins down with so much copper. I have a $50 trillion Zimbabwe note around the house somewhere, one of the last bills issued by Robert Mugabe’s regime before the German printers stopped the presses until their account was settled (in Euros). Somewhere else, I have a stash of billion-mark bonds issued by Germany’s Weimar Republic in 1923. That inflationary trick, which conned some of my gullible relatives and wiped out the bond-holding German middle classes, helped seal the German republic’s fate. (The company that printed the German bank notes in the worst weeks of the inflation submitted a bill to the government for 32,776,899,763,734,490,417.05 marks.) Sound currency issuers: Elizabeth I, Julius Caesar, Constantine the Great, Napoleon, George Washington, Sir John A. Macdonald, Otto von Bismarck. Unsound currency issuers: Richard Nixon, Jimmy Carter, unlamented Gallienus, the Soviet Union, Communist China, Robert Mugabe (and Abraham Lincoln, just to throw a wrench into my own argument. But war is hell on currency). We’re in for a reckoning about money, not because we’ve physically debased it, but because we don’t understand it. The yuppie who stiffs a waitress on a tip has no problem bidding up a house by $50,000 over its asking price, which already reflects a speculative “value” that has no basis in intrinsic costs. Politicians in Canada hold a five-week election campaign to argue about economics, then pass $275 billion in spending, some 800 pages of estimates, in far less time than it takes to read them. Each Canadian family has, on average, some $180,000 in mortgage and personal debt. Take out the renters, the people making minimum wage, people with bad credit, the elderly who have the sense to be debt-free at retirement, people who abhor debt or have religious scruples about usury, and the small number of people who are so rich that they rarely borrow, and you have a skilled working class and a professional middle class in deep, deep financial trouble. The CMHC, which insures most of the worst of Canadian mortgages, has more risk on its books than the amount of the federal debt. We also hide debt by spreading it among pension plans, provinces and municipalities. Our statisticians play with numbers to try to convince us that inflation is much lower than it actually is. Our allies and friends are already showing us the future. In Greece, revolution is in the air because the government is worse than broke. In the U.S., public debt levels are above the ability of most people to comprehend. It’s like trying to calculate the number of stars in the universe. Eventually, things will work out. People will need stuff. People will make stuff. People will carry stuff around and sell it. Barter is far less efficient at setting prices than a cash economy, so people will create good money out of necessity. But the road between now and then could be pretty rough. I doubt the new plastic currency will help, though I did find that if you do pull really hard, you can stretch the new bucks. You just can’t stretch them far enough.

Read the rest here:
Mark Bourrie: Canada’s New Bills Won’t Change Old Financial Habits

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Commercial Real Estate's Race To Loan Maturity

May 26, 2011

Chris Macke with CoStar has an article reminding the CRE community of the looming CRE loan maturity issue: As a native of Indiana, every Memorial Day my attention turns to the “Greatest Spectacle in Racing,” the …

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Retail Watch: News from ICSC’s ReCon Event in Las Vegas

May 26, 2011

The International Council of Shopping Centers’ (ICSC) annual confab of deal-making this past weekend kicked off with the surprising news of Liberty Media’s bid for bookseller Barnes & Noble. And the excitement continued from there. ReCon drew nearly 30,000 attendees and 1,000 exhibitors. CoStar compiled the following summary of major deal announcements. We’ll start with Liberty Media. The owner of such busineses as QVC, Expedia and the Atlanta…

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Ailing Housing Market Creating New Generation Of Renters

May 24, 2011

WASHINGTON — A growing number of Americans can’t afford a home or don’t want to own one, a trend that’s spawning a generation of renters and a rise in apartment construction. Many of the new renters are former owners who lost homes to foreclosure or bankruptcy. For others who could afford one, a home now feels too costly, too risky or unlikely to appreciate enough to make it a worthwhile investment. The proportion of U.S. households that own homes is at its lowest point since 1998. When the housing bubble burst four years ago, 31.6 percent of households were renters. Now, it’s at 33.6 percent and rising. Since the housing meltdown, nearly 3 million households have become renters. At least 3 million more are expected by 2015, according to census data analyzed by Harvard’s Joint Center for Housing Studies and The Associated Press. All told, nearly 38 million households are renters. Among the signs of a rising rental market: _ The pace of apartment construction has surged 115 percent from its October 2009 low. It’s still well below a healthy level. But permits for apartments, a gauge of future construction, hit a two-year peak in March. By contrast, permits for single-family home are on pace for their lowest annual level on records dating to 1960. _ The number of completed apartments averaged about 250,000 a year before the boom. They fell to 54,000 last year and will probably number around the same this year. But then the number will likely double to about 100,000 in 2012 and hit 250,000 by 2013 or 2014, according to the CoStar Group, a research firm. The lag is due to the time it takes for an apartment building to be completed: an average of 14 months. _ Demand is driving up rents. The median price of advertised rents rose 4.1 percent between the end of 2009 and the end of 2010, census data shows. Few expect the higher prices to stem the flood of renters, though. One reason: Younger adults don’t value homeownership as earlier generations did and many prefer to rent, studies show. _ Rental housing is giving builders more work just as construction of single-family homes has dried up. Still, that economic lift won’t make up for all the single-family houses not being built. Apartments account for only about one-fourth of homes. And renters are outspent roughly 2-to-1 by homeowners, who pay for items from lawn care to remodeling and help drive the economy. Before the housing bust, mortgage rates were so low it was often cheaper to buy than rent. That was true a decade ago in more than half the 54 biggest metro areas, according to Moody’s Analytics. Today, by contrast, it’s cheaper to rent in about 72 percent of metro areas. Consider Mason Hamilton, 26, an energy consultant who rents an apartment with his wife for $1,100 a month in Alexandria, Va., outside Washington. He’d like something bigger. But he says he doesn’t plan to buy even though he could afford to. “My parents always told me, `You need to buy a place; you need to buy property,’” he says. “But the housing market is insane.” Many younger Americans see owning as risky. It hardly seems the best way to build wealth, especially when prices are falling. “There’s been this idea for years, a part of the American dream, that owning a home improves and strengthens communities,” said John McIlwain, a senior fellow at the nonprofit Urban Land Institute. “But what we’ve learned over the past few years is that many people simply are not ready to own a home.” From the 1940s until 2007, homes appreciated an average of nearly 5 percent a year, adjusted for inflation. In the past four years, the median price of a single-family home has sunk 37 percent, by $57,500, to its lowest since 2002. Yet in some areas, owning is still too expensive for many. “It’s becoming so difficult for most Americans to afford a home, with larger down payments and tighter credit, that it is creating a renter’s nation,” says Robert Shiller, a Yale economist and co-creator of the Case-Shiller home price index. “The home is no longer an investment; it’s a burden.” Homeownership bestows its own financial advantages, of course. Each loan payment builds equity. Loan interest and property taxes provide tax deductions. And in normal housing markets, home values rise over time. But for now, renting is more attractive. Hamilton, the energy consultant, says his father, a 58-year-old teacher in Richmond, Va., still owes nearly as much on his mortgage as his house is worth. “He’s stuck in that house,” Hamilton says. “After telling me to buy for all of those years, he’d love to rent like me.”

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DiamondRock Pays $72.6M for JW Marriott Denver

May 24, 2011

DiamondRock Hospitality acquired JW Marriott Cherry Creek at 150 Clayton Lane in Denver from Sage Hospitality for $72.6 million or $370,480 per room. The 11-story, 162,022-square-foot, Class A hospitality building was built in 2003 and opened in 2004. The hotel has 196 rooms and is in the heart of Cherry Creek. Hodges Ward Elliott Inc. represented the seller. Please refer to CoStar COMPS #2112472 for more information on this transaction…

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Multifamily Investment, Leasing Fundamentals Off to Solid Start In 2011

May 19, 2011

Investor interest in U.S. multifamily properties continued at a healthy clip at the beginning of 2011, as investment sales dollar volume jumped 40% in the first quarter over the same period last year. More deals closed than in any quarter since mid-2005, according to CoStar Group data. Just under 4,000 multifamily sales transactions were recorded in the quarter at a total volume of $9.4 billion, according to preliminary CoStar sales data, compared…

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Rising Occupancy Should Bring Growth In Retail Rents By Year-End

May 12, 2011

Falling vacancy rates and rising demand for retail real estate should finally bring about meaningful rent growth for landlords in most U.S. retail markets by the end of 2011, according to CoStar Group economists. Growth in employment and moderately rising demand fueled by greater numbers of shoppers and little new supply of retail development on the horizon should set the stage for a significant drop in vacancy rates, which CoStar expects to fall…

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Rising Demand, Shrinking Supply Begins to Stabilize Warehouse Rents

May 5, 2011

The leasing market for U.S. industrial real estate continues to show improvement but is not yet on fire. Rent declines are decelerating as consumer spending picks up, available warehouse and distribution space is absorbed, and companies emerge from the recession in growth mode. That’s the consensus of CoStar analysts, corroborated by recent reports from executives at the world’s two largest warehouse and distribution operators, ProLogis (NYSE: PLD)…

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SALES VELOCITY: Surge In Total Office, Hotel Sales Provide Huge Boost in First Quarter Volume

May 5, 2011

First-quarter data from CoStar Group shows investment sales activity for commercial property continuing to increase. For all property types, first-quarter sales totaled more than $47.86 billion. That amount is significantly higher (more than $16 billion in some cases,) than the amount of property sales reported for the same period by other analytic firms in the past two weeks. CoStar Group’s number is a 47% increase from the first quarter of 2010…

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CoStar and LoopNet To Join Forces

April 28, 2011

CoStar Group, Inc. (NASDAQ:CSGP) announced Wednesday that it has entered into an agreement to acquire LoopNet, Inc. (NASDAQ: LOOP), the leading online commercial real estate marketplace, in a transaction valued at approximately $860 million. CoStar said it believes the combined company will be the premier online resource for researching, analyzing, and marketing commercial real estate properties, and the combination of the two companies’ complementary…

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CRE Values Characterized by Wide Regional, Property Type Variations

April 21, 2011

The latest release of CoStar’s Commercial Repeat Sales Indices (CCRSI) finds significant variations in pricing performance between different regions and property types. The pricing variations are being driven both by investor preferences and significant differences in levels of distressed sales volume. While national-level pricing data masks these critical underlying differences in pricing performance, they are readily apparent in CoStar’s Repeat…

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In The Pipeline: Construction and Development News for April 3 – 9

April 5, 2011

In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. Construction Begins on $700M CityCenterDC Development

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In The Pipeline: Construction and Development News for March 24 – 30

March 28, 2011

In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. Watson Breaks Ground on Spec Industrial Building

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Case for Green Buildings Grows Stronger for Owners, Occupants

March 10, 2011

Evidence continues to stack up in the form of updated studies by CoStar Group, CB Richard Ellis, McGraw Hill Construction and other commercial real estate leaders that green practices are reducing long-term operating and occupancy costs, improving occupant health and boosting employee productivity – though not all those variables are fully understood or measureable as yet. Those were among the findings of the spring update of “Current Trends in…

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For Distressed Investors, There is No Where To Go But Up

March 3, 2011

If conditions in commercial real estate have indeed hit bottom, then an increased amount of distressed assets could hit the market this year — and values could also begin to tick up. That is the general consensus of industry professionals that CoStar Group interviewed for their outlooks on distressed investing in 2011. Contributing to this expectation is a change seen in the dynamic among lenders. Up until very recently, banks have been reluctant…

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A Statistical Look at Distress Levels

March 3, 2011

The rubble of distressed commercial real estate properties and loans has piled up shockingly during the Great Recession (waning though it appears to be) and has left the country littered with overvalued and overleveraged assets. The good news is that, it also means that money that has been raised and stockpiled for to pick through such properties still have opportunities to uncover prized nuggets. At the end of February, CoStar Group’s database…

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In The Pipeline: CoStar Development and Construction News for Feb. 27 – March 5

March 1, 2011

In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. August Opening Planned for Miami’s Brickell World Plaza

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Health Care Property Megadeals Announced By Ventas, Healthcare REIT Inc.

February 28, 2011

Executives and analysts have predicted continued merger and acquisitions activity in the booming health care and senior housing real estate sector, as reported by CoStar Group last week. Monday brought two more blockbuster transactions in the health care sector, including a deal for Ventas Inc. (NYSE: VTN) to acquire Nationwide Health Properties (NYSE:NHP) for $7.4 billion in stock, including debt; and Healthcare REIT Inc.’s (NYSE: HCN) agreement…

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Latest Repeat Sales Analysis Finds CRE Pricing Holding to SeeSaw Pattern

February 16, 2011

CoStar’s Investment Grade Repeat-Sale Index (CCRSI) increased nearly 7% nationally for the month of December, continuing the recent up-and-down seesaw pattern observed in monthly pricing data for commercial property. While the commercial real estate pricing index is still below levels from two years ago by 20%, the investment grade property index finished 2010 with a positive increase of 8% for the year. From its peak in July 2007, the Investment…

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Latest Repeat Sales Analysis Finds CRE Pricing Holding to SeeSaw Pattern

February 16, 2011

CoStar’s Investment Grade Repeat-Sale Index (CCRSI) increased nearly 7% nationally for the month of December, continuing the recent up-and-down seesaw pattern observed in monthly pricing data for commercial property. While the commercial real estate pricing index is still below levels from two years ago by 20%, the investment grade property index finished 2010 with a positive increase of 8% for the year. From its peak in July 2007, the Investment…

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CoStar Dials Up $101M Sale of HQ Bldg. One Year After Buying it for $41M

February 4, 2011

In what will almost certainly qualify one of the most successful sale-leaseback transactions since the recession, CoStar Group Inc. (Nasdaq:CSGP) has agreed to sell its headquarters building at 1331 L St. NW in Washington, DC, for aggregate consideration of $101 million in cash to GLL L-Street 1331 LLC, an affiliate of Munich-based GLL Real Estate Partners GmbH. CoStar acquired the two-year-old, Class A building through a wholly owned subsidiary…

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Pent-Up Shopping Demand Fuels Surge In Retail Leasing

February 3, 2011

Mirroring the rebound in other commercial property sectors, leasing and occupancy of U.S. malls and shopping centers continued to improve across the country in fourth-quarter 2010, and CoStar Group economists expect demand to accelerate for the next two years as shoppers open their wallets and the economy adds jobs, leading to renewed demand for retail space . With the very low amount of new supply of retail space and a strengthening economy, retail…

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Recovery in U.S. Warehouse Leasing Gaining Speed

January 27, 2011

Warehouse leasing accelerated sharply in fourth-quarter 2010, helping to drive down vacancy rates amid record-low deliveries of new industrial commercial properties last year, according to CoStar’s Year-End 2010 Industrial Review and Outlook. “We saw good, stronger demand in the fourth quarter, given the historic low levels of warehouse supply,” said CoStar Senior Director of Research and Analytics Jay Spivey. “That will eventually translate into…

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Dorie Clark: Why Costa Rica Is a Winning Brand

January 20, 2011

I recently returned from a trip to Costa Rica — and along the way, discovered that almost everyone I know has either traveled there recently or has it at the top of their list. How did this tiny Central American country of four million people become such a tourist juggernaut, drawing close to two million annual visitors? The secret lies in Costa Rica’s use of four branding principles. 1. Your Brand = Your Unique Strengths . In developing a brand, you always want to start by identifying your unique competitive advantage. In the case of Costa Rica (which covers a miniscule .03% of the Earth’s surface), it’s the concentration of biodiversity , with 4% of the world’s plants and animals (over 500,000 species). In fact, it’s considered to be one of the 20 most biodiverse countries in the world — catnip for nature lovers, who have been lured by canopy tours (aka “ziplines”), kayaking, volcanoes, and rainforest walks. 2. Exploit Your Competitive Advantage . If you’ve got a powerful strength in the marketplace, beat it like a drum. Other countries have rainforests and nice climates, too, but Costa Rica has used every opportunity to reinforce its branding as the nature destination, from the tourist board’s slogan (“No Artificial Ingredients”) to a commitment to environmental causes and policies. In fact, Costa Rica launched a network of national parks in the 1970s, which now cover more than a quarter of its land . And the country (which first implemented a carbon tax in 1997) has set the ambitious goal of becoming entirely carbon neutral by 2021 . 3. Guard Against “Too Much of a Good Thing.” Costa Rica loves the benefits of international tourism, which has been the nation’s #1 driver of foreign exchange since the early 1990s. But there are risks that come with such popularity (as Yogi Berra famously said, “No one goes there any more; it’s too crowded.”). Ecotourism is predicated on access to fragile and sensitive areas, which don’t look kindly on too many Nikon-toting tourists tromping around (yet the government hopes to reach 2.5 million visitors by 2014). And the Guanacaste province, one of the key areas designated for tourist development by the Costa Rican government in the late 1970s, is notoriously dry — a challenge when you have to entertain guests at high-end resorts like the Four Seasons , replete with a water-sucking championship golf course. This is going to be a challenge for Costa Rica to balance moving forward. 4. Protect Your Flank. Finally, another way that Costa Rica has been successful in the past is ensuring that no side issues (read: civil wars, drug running, or armed gangs) dampen its core brand dominance in ecotourism. Just as a business executive who is a masterful leader and strategic thinker can be undone by weakness in another area (he can’t operate a computer and therefore can’t communicate with clients), no one’s going to be interested in seeing monkeys in the rainforest if they’re afraid of getting kidnapped. Fortunately, Costa Rica has taken bold steps to shore up its flank, including strong funding for education and completely eliminating its military. Have you been to Costa Rica? Do you want to? If yes, it’s likely because they’ve executed these four key branding steps well. What do you think? Dorie Clark is a marketing strategy consultant who has worked with clients including Google, Yale University, and the National Park Service. Visit her website , listen to her podcasts or follow her on Twitter .

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Break Out the Shovels: Major Ramp-Up In Apartment Development Expected in 2011

January 19, 2011

Emboldened by favorable demographic trends, improving supply/demand metrics and lower construction costs, apartment developers are eager to start replenishing their development pipelines. The 22,536 units forecast by CoStar to be added to the nation’s apartment supply in 2011 is expected to spike up to 94,588 units in 2012 and just over 109,000 units in 2013 — increases of 320% and 384%, respectively — over the current year. By 2015, CoStar…

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CRE Pricing Volatility Continues; Assets Attracting Higher Prices Remain Exception Rather Than the Rule

January 13, 2011

The three national commercial real estate repeat sales indices released in this week’s CoStar Commercial Repeat-Sales Indices (CCRSI) were down for the month of November — the second consecutive month of decline for the trio of “headline” indices measuring the investment sales market — despite a significant boost in prices for high-profile core deals in Washington D.C. and New York City. While the disparity between “troubled and trophy” assets…

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In The Pipeline: CoStar Development and Construction News for Jan. 9 – 15

January 11, 2011

In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. Leasehold Sale Allows Santa Monica Biotech Project to Break Ground

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In The Pipeline: CoStar Development and Construction News for Jan. 9 – 15

January 11, 2011

In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. Leasehold Sale Allows Santa Monica Biotech Project to Break Ground

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CRE Sales Deal Volume Returning to ‘Normal’ Levels

January 6, 2011

If the third and fourth quarters of last year are any indication, then deal volume is returning to the commercial real estate investment sales markets. According to CoStar COMPs, sales volume for commercial property nearly doubled from about $22 billion of deals in the first quarter of 2010 to almost $36 billion in the fourth quarter – a number that will likely increase as CoStar finalizes its quarterly tally and confirms the flurry of deals signed…

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In The Pipeline: CoStar Development and Construction News for Jan. 2 – 8, 2011

January 4, 2011

Happy New Year. CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. Private Construction Spending Dips in November

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Anyone Sorry To See 2010 Go? Hell No!

December 30, 2010

Who is lamenting the passing of 2010? Very few, it seems. Maybe it is a mistaken impression but there seems to be sense among CoStar Group news readers that they are bored with reading about the Great Recession — and are just as over the lack of deals, the lack of money, the lack of spending, and the lack of new jobs. The dirge of news in 2010 had a decided pall to it. It’s not that such stories are any less relevant or revealing this week…

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In The Pipeline: CoStar Development and Construction News for Dec. 26, 2010 – Jan. 1, 2011

December 27, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. Extell’s Riverside Center Project Clears Hurdle

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Updated: Google Closes Acquisition of One of NYC’s Largest Buildings for $1.8B

December 27, 2010

Google has completed its purchase of 111 Eighth Avenue, a 15-story brick building of nearly 3 million square feet in the Chelsea submarket of Manhattan, in a deal valued at about $1.8 billion. It’s the largest single-asset commercial real estate deal of 2010. Google had signed a contract to buy the building, a source close to the deal confirmed for CoStar early this month. It’s the largest single-asset commercial real estate deal of 2010. The…

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U.S. Federal Court Orders Two Real Estate Companies to Pay CoStar Group $1.1 Million in Damages for Illegal Password-Sharing

December 23, 2010

Think illegally sharing passwords to online services is worth the risk? A landmark verdict handed down this week by a federal court that awarded more than $1.1 million in damages for illegally sharing passwords may convince you otherwise. CoStar Group, Inc. (Nasdaq: CSGP) announced a significant legal victory in breaking up a multi-state, multi-defendant password-sharing network that involved companies in Orange County, California, Houston, Texas…

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In The Pipeline: CoStar Development and Construction News for Dec. 12-18

December 14, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be…

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In The Pipeline: CoStar Development and Construction News for Dec. 12-18

December 14, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be…

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Latest CRE Price Analysis Reverses Positive Direction in October

December 9, 2010

Reversing two months of increasing commercial real estate prices, all three of CoStar’s “headline” Commercial Repeat-Sale Indices decreased in October, continuing the recent see-saw performance of commercial real estate pricing, according to CoStar Group…

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Latest CRE Price Analysis Reverses Positive Direction in October

December 9, 2010

Reversing two months of increasing commercial real estate prices, all three of CoStar’s “headline” Commercial Repeat-Sale Indices decreased in October, continuing the recent see-saw performance of commercial real estate pricing, according to CoStar Group…

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Latest CRE Price Analysis Reverses Positive Direction in October

December 9, 2010

Reversing two months of increasing commercial real estate prices, all three of CoStar’s “headline” Commercial Repeat-Sale Indices decreased in October, continuing the recent see-saw performance of commercial real estate pricing, according to CoStar Group…

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In The Pipeline: CoStar Development and Construction News for Dec. 5 – 11

December 7, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be…

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In The Pipeline: CoStar Development and Construction News for Dec. 5 – 11

December 7, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be…

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Google Acquires One of NYC’s Largest Buildings for $1.8B

December 6, 2010

Google has signed a contract to buy 111 Eighth Avenue, a 15-story brick building of nearly 3 million square feet in the Chelsea submarket of Manhattan, for more than $1.8 billion, a source close to the deal confirmed for CoStar. It’s the largest single…

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Google Acquires One of NYC’s Largest Buildings for $1.8B

December 6, 2010

Google has signed a contract to buy 111 Eighth Avenue, a 15-story brick building of nearly 3 million square feet in the Chelsea submarket of Manhattan, for more than $1.8 billion, a source close to the deal confirmed for CoStar. It’s the largest single…

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In The Pipeline: CoStar Development and Construction News for Nov. 28 – Dec. 4

November 29, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be…

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In The Pipeline: CoStar Development and Construction News for Nov. 21-27

November 23, 2010

CoStar Group’s In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be…

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Health-Care, Senior Housing Investors Stepping Up Sales Activity

November 18, 2010

Health care and senior housing real estate companies have raised hundreds of millions of dollars in equity over the last couple of years, and sales activity tracked by CoStar Group over the last 30 days suggests that companies are beginning to put that…

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Falling Retail Rents Mean More Store Openings

November 17, 2010

Following the decline in retail rents since the recession, a number of retailers are reporting that they plan to step up store openings in the next couple of years to take advantage of the more favorable pricing. According to CoStar Group analysis…

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Have Commercial Real Estate Prices Bottomed Out?

November 4, 2010

Investment grade real estate continued its positive trend from August with a strong 5.48% increase in September, according to CoStar Group’s newly released Commercial Repeat-Sale Indices (CCRSI). Also, for the first time since the second quarter of…

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U.S. Office Market Enters Early Recovery as Absorption, Demand Point Up, Vacancy Turns Corner

October 14, 2010

The office market recovery has begun — although it may not feel that way yet in every market across the country. The theme of CoStar Group’s 2010 Third Quarter Office Review and Outlook released this week was both simple and direct: “We are in early…

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