Hapeville got a shot in the arm this week when it was announced that Porsche would be building its new American headquarters at the old Ford assembly plant site in Hapeville Georgia. The new headquarters will include a 150,000 square foot office building and a 1.6 mile test track. The test track will be there to allow potential Porsche owners to test drive their vehicles on site. Yes if you would like to enjoy the lifestyle of the rich and famous you can fly into Atlanta's Hartsfield International Airport, take a taxi to the Porsche headquarters, and test drive a Porsche 911.
CMBS Delinquency Rate Jumps Again
After leveling off for several months the commercial mortgage-backed securities delinquency rate has jumped again. The delinquency rate in April increased to 9.65% which is the highest rate ever recorded. The delinquency rate on multifamily properties increased to 16.77% the highest of any property type. The lodging delinquency rate is now 15.45%. The office delinquency rate is at 7.2% and that is the best rate of the commercial property types. The retail delinquency rate moved above 8% for the first time.
Retail Rents Should Rise by Year End
Costar reports that retail vacancies should begin to drop as there is very little new space coming on line. With the economy (somewhat) in recovery mode they are expecting retail spending to increase through the end of the year. This should result in increased demand for retail space and the corresponding drop in vacancy will allow for retail rent growth.
