Joe McDonnell

BOMA, 3D VR, As-Built, 3D Modeling

[Joe McDonnell @abcalc]

@mnsibley Please tell me this isn't an euphemism

[Joe McDonnell @abcalc]

@realEstateTrent That was me at 43. I had 20/10 vision before then.

[Octave BricsCAD @OctaveBricsCAD]

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[Joe McDonnell @abcalc]

For any perspective investors out there, make sure that building is re-measured prior to final purchase.

[unusual_whales @unusual_whales]

BREAKING: The Trump admin is considering selling two-thirds of the federal government's office stock, per WSJ.

That could put more than 200 million square feet on the market, as the federal landlord — the General Services Administration — oversees 370 million square feet across the country.

[Joe McDonnell @abcalc]

Commercial office is doing what housing did I 08. Lots of opportunities will be out there. Before you swoop in, call us, find out how many square feet you'll actually be buying

[unusual_whales @unusual_whales]

The office building commercial mortgage back securities loan delinquency rate are spiking, per Bloomberg:

[BOMA International @BOMAIntl]

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[Joe McDonnell @abcalc]

And it's only going to accelerate

[unusual_whales @unusual_whales]

The delinquency rate among U.S. office loans rose in June, driven in part by increasing vacancies and elevated interest rates.

The overall rate of delinquencies, or late payments, on loans behind commercial mortgage-backed securities rose to 2.45% in June from 2.42% in May.

[Joe McDonnell @abcalc]

Lenders, when you are putting these properties up for auction, make sure you know the exact square footage so you can maximize your sale.

[Triple Net @TripleNetInvest]

This is absolutely shocking...

A prime 100k SF office building in downtown Portland just sold for $3.25M or a stunning $32 per SF

There were zero bidders for 408 SW 5th Ave when it went up for a foreclosure auction in November

It went back to the lender First Interstate, which subsequently put it on the market

These are unprecedented times for prime/trophy office buildings around the US...

For the latest updates on the real estate meltdown just like this, make sure to follow @TripleNetInvest

[Joe McDonnell @abcalc]

His take is not incorrect. I haven't seen things this bad since then. You know another way you can tell that the economy is in shambles? The sheer number of B2B emails that small business owners are getting inundated with. It's reached insane levels

[Frog Capital @FrogNews]

The only time Small Business Owners had a worse outlook was briefly in 2008.
We destroyed small business the last 4 years.

[Joe McDonnell @abcalc]

@bethanyjbabcock Broker: is there anyway you can massage these BOMA rsf numbers?

Me:

[Joe McDonnell @abcalc]

Now more than ever it's critical to know the exact RSF in your portfolio. Let me help you

[Triple Net @TripleNetInvest]

JUST IN: Two San Francisco office buildings bought for $949M in 2019, have been marked down to zero

Market Center and 111 Sutter were acquired by Paramount Group for $722M and $227M, respectively

The owner said on an earnings call that they are in negotiations w/ lenders, but both investments have already been marked down to zero on the company books

The two buildings are a combined ~1M sq ft

Not a great time to be an office landlord or lender in San Francisco...

For the latest updates on the commercial real estate just like this, make sure to follow @TripleNetInvest

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[Joe McDonnell @abcalc]

Now would be a great time to have your properties remeasured to ensure that you know exactly what is in your portfolio

[unusual_whales @unusual_whales]

The office meltdown will result in $1 trillion of losses, real estate billionaire Barry Sternlicht has said, per BI.

[unusual_whales @unusual_whales]

Mortgage originations in commercial real estate fell 47% through 2023, Mortgage Bankers Association has said.

[Joe McDonnell @abcalc]

They really are. Wait till she sees the colors in the Greek flag

[unusual_whales @unusual_whales]

50% of large and mid-sized banks are imposing tougher criteria for commercial and industrial loans, per Bloomberg.

That’s the highest share since the 2008 financial crisis, besides for the pandemic.

[Joe McDonnell @abcalc]

And the south east CRE market is now feeling the market crunch

[unusual_whales @unusual_whales]

The Federal Reserve's assertive tightening measures are significantly impacting commercial property values, raising the costs associated with property ownership, particularly financing expenses.

Read more: https://t.co/7Gsi6yCURz

[unusual_whales @unusual_whales]

BREAKING: Banks are bracing for a recession, per MarketWatch.

[Adam B. Coleman, Proud Father & Imperfect Man @wrong_speak]

If you want to know why black people have a hard time voting for Republicans, here is a prime example.

Going to jail apparently makes you relatable to black people. You can't make this up.

[unusual_whales @unusual_whales]

Office buildings could suffer an $800 billion crash as work-from-home remains popular, per McKinsey.