The Federal Reserve Board’s Beige Book released Dec. 1 certainly offers proof with nearly all of the 12 districts reporting less than significant increases in market activity. 

Atlanta, Boston, Chicago, Cleveland, Dallas, Kansas City, Mo.,  Minneapolis, New York, Philadelphia, Richmond, Va., San Francisco and St. Louis make up the Fed’s districts. 

In Boston, office leasing activity was roughly steady at a moderate pace, although tenants reportedly lack a sense of urgency to sign deals. Areas such as Hartford noted vacancy rates hovered around 20% and leasing demand remained muted due to a flat labor market.  

Rent rates continued to climb in New York as office vacancy rates also ticked up in October in both midtown and downtown Manhattan, the Fed reported. While commercial construction activity has picked up slightly it continues to remain sluggish with credit availability a restraining factor for the market.

New construction in Philadelphia is mostly limited to institutional, life sciences, multifamily and warehousing sectors in select markets, according to the Fed. Contributing to the weak demand for retail space is regulatory red tape for permits and financing barriers. 

Cleveland reported steady or slow improvement in nonresidential construction activity. While the number of inquiries has picked up recently, the biggest challenge facing builders at this time is adding backlog. Incubation period for public infrastructure projects can be as long as five years, the Fed noted. With construction contracts coming mainly in education, manufacturing, energy, and research and development, Cleveland said it is expecting modest CRE growth over the next six months.  

The Richmond district reported a mix of highs and lows in CRE and construction. Smaller projects were being built faster due to abundant labor availability. Contractors reported that refurbishing of commercial properties was up in both Maryland and the Carolinas, but no one was adding new capacity. Commercial and federal work has dried up in most areas of Virginia with Washington capturing much of what little work there is. North Carolina is prepping for several new manufacturing projects.

The majority of the Atlanta district’s CRE contacts noted modest improvement in nonresidential construction and leasing activity. Brokers reported that vacancy rates declined and that rents have begun to stabilize across much of the district. Contractors cited a small improvement in construction activity from earlier in the year. Still, most anticipate commercial real estate conditions to remain largely unchanged over the next several quarters.

Article source: http://www.cutimes.com/2011/12/11/commercial-real-estate-market-has-few-bright-spots?ref=hp

SAN FRANCISCO, CA, Oct 13, 2011 (MARKETWIRE via COMTEX) –
Zephyr Real Estate has announced the addition of Jamie Howell,
long-time San Francisco Realtor, to its organization. Howell began
his real estate career in San Francisco in 1989 and has worked at a
number of brokerages over the years.

Originally from upstate New York, Howell was raised in Sao Paulo,
Brazil, and Lubbock, Texas. He toured San Francisco with his rock
band in the 60s, and elected to stay in the City by the Bay. While in
the music industry, he was a performer, guitarist, producer and road
manager before discovering his preference for the real estate
industry. He has developed an impressive roster of satisfied
customers, which has resulted in almost 100 percent of his clients
coming from referrals.

Howell’s commitment to his community is wide and varied. He has done
volunteer work at SF General Hospital’s emergency room and at Maitri
AIDS Hospice. He trains with the Golden Gate Triathlon Team, Leukemia
Society’s Team in Training, and has spent 27 years coaching soccer,
including being named coach of the year twice for CYSA District 1. A
longtime student of Zen Buddhism, Jamie is a lay lineage holder in
the Shinryu Suzuki line and teaches and practices Zen at San
Francisco Zen Center as well.

“Joining Zephyr is an honor, and I am eager to begin this next stage
in my career,” stated Howell. “Teaming up with Luba is the icing on
the cake.”

Howell is partnering with Luba Muzichenko, a Zephyr top producer,
e-PRO Internet Professional and Certified Residential Specialist.
Muzichenko was born in Odessa in the Ukraine, but has resided in San
Francisco since the age of two. She grew up in the City’s Richmond
District. She has also lived in Golden Gate Heights and gone through
the exciting process of rebuilding a home on Great Highway in the
Outer Sunset. “I am excited to partner my talents with Jamie,”
Muzichenko remarked. “With our combined extensive backgrounds, market
savvy and network, we are an incomparable team.”

Outside the workplace, Muzichenko volunteers at the San Francisco
Zoo, the Surfrider Foundation, and several local humane societies.
She is also a proud supporter of San Francisco public schools through
participation in edMatch. In her free time, she enjoys a variety of
outdoor activities, including kayaking, surfing and hiking throughout
the San Francisco Bay Area, as well as spending time with her canine
friends.

“We are delighted that Jamie has joined our ranks, teaming up with
Luba, one of our valued agents,” remarked Aimee Arost, Partner/Sales
Manager of the Noe Valley office. “Their synergy is impressive. I
foresee a long and prosperous relationship for all of us,” she added.

To learn more about Jamie and Luba, or to get in contact with them,
visit their website at
www.JamieandLuba.com .

About Zephyr Real Estate
Founded in 1978, Zephyr Real Estate is San
Francisco’s largest independent real estate firm with $1 billion in
annual gross sales in 2010 and a current roster of more than 200
full-time agents. In 2010, Zephyr launched its new website, which has
earned two web design awards, including the prestigious Interactive
Media Award. Zephyr Real Estate is a member of the international
relocation network, Leading Real Estate Companies of the World; the
luxury real estate network, Who’s Who in Luxury Real Estate; and the
local luxury marketing association, the Luxury Marketing Council of
San Francisco. Zephyr has six strategically located offices in San
Francisco, a business center in Marin County, and serves a large
customer base throughout the San Francisco Bay Area. For more
information, visit
www.zephyrsf.com .

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        Contact:
        Melody Brown
        Zephyr Real Estate
        San Francisco, CA
        415.729.3555
        Email Contact

SOURCE: Zephyr Real Estate

http://www2.marketwire.com/mw/emailprcntct?id=CFA6E2074FCDE89D

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Article source: http://www.marketwatch.com/story/jamie-howell-joins-with-luba-muzichenko-at-zephyr-real-estate-2011-10-13