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E-News | March, 2009 |
Research/News |
New Assignments |
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Please enjoy our March edition of E-News. “Spring is right around the corner! For those of us in Minnesota this is a big deal as we dig out from almost five months of winter! This weekend the temperature reached 60 degrees and what difference sunshine makes in people’s attitudes. Improved attitudes also seemed to be in the air last week as the stock market showed signs of rebounding. The March 16, 2009 publication of BusinessWeek had an interesting article on past recessions and how the return of the stock market typically reflects the mid-point of the downturn and the beginning of the recovery. Let’s hope the stock market continues to recover in the coming weeks and people’s confidence in our great country is restored. The economy has caused us to focus more than ever on what matters most; our clients. We continue to work with them on a number of fronts to explore innovative ways to cut costs and weather the storm. As the economy recovers, these changes will provide long term benefits that would not have been so forthcoming if the economy had kept rolling along. In the meantime, we continue to refine our cost structure and feel fortunate to be a private company with a strong balance sheet at a time when the public markets continue to be critical of so many companies. Some of our recently formed new relationships include:
Whether you need management, brokerage, appraisal, or corporate solution services, Colliers can help. We feel fortunate to be a privately held company with minimal debt at a time when capital is at a premium. We anticipate this will help us to continue to expand our platform as clients increase their focus on cost savings during these times. Our team remains committed to your success, and we thank you for your continued trust in us. Warm Regards, |
The $789 billion stimulus legislation has been a topic of conversation the past month. Here are three areas in which the legislation will affect commercial real estate as well as Minnesota. Shortly after President Obama signed the Stimulus Legislation into law, BOMA International released a statement, click here to read BOMA's overview. The next question that comes to mind is what affect this legislation will have on the state of Minnesota, which is allocated to receive over $9 billion dollars. Here is a summary of the programs and how much money each is expected to receive as a result. In addition, the United States Conference of Mayors recently met with President Obama to discuss the American Recovery and Reinvestment Act (ARRA). They have identified jobs and infrastructure projects that they hope will help Minnesota economies grow and create jobs in the near term for the cost of just under $1 billion. Twenty-six communities have identified projects for their cities ranging from $350,000 in St. Augusta to $404,764,005 in Duluth (see chart for complete list of projects by community). The number of jobs anticipated to be created through ARRA is over 20,000. Projects are broken into the following categories: airport, community development, energy, housing, public safety, schools, streets/roads, transit, and water.
Featured Division: Real Estate Management Services - Distressed Asset ServicesColliers’ Distressed Asset Services Group provides a full spectrum of services and consulting to meet the challenges of distressed property and non-performing debt. When it comes to defining value and mitigating risk, the experts at Colliers provide:
If an asset falls into receivership, our objective is to protect the value of the asset, respect the rights of all parties involved, mitigate risk, minimize costs, preserve the physical asset, and look for ways to improve value. With experience as Court-Appointed Receiver for more than 60 projects in the Minneapolis/St. Paul metro, consult the experts. Contact Dean Freeman or Chris Braun for more information on how Colliers can assist you with your distressed asset.
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Colliers Minneapolis/St. Paul | E-News March, 2009 | We know The State of Real Estate® |
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