Five years after a landmark US Supreme Court decision altered practices in eminent domain and economic development nationwide, a recent twist will have vindicated some people and burned others.  The pharmaceutical giant Pfizer Inc., which was the corporate anchor tenant in the middle of Kelo v. City of New London, has just announced they will vacate their 8-year old, 750,000 SF R&D campus in the Connecticut seaport city, and relocate the site’s 1,400 jobs to an owned facility just across the Thames River in Groton. 
After their $68 billion acquisition of rival Wyeth …

Jeff LaFavre launches Integrust Advisory Group, based in Minneapolis/Saint Paul, MN, to provide site selection, strategic real estate planning, development, and traditional brokerage services.

We don’t intend to cover the job market much, but it seems an unavoidable “hot topic” these days.  The 2008 SelectLeaders/Cornell Job Barometer has been released, and the prospects are bleak virtually across the board.  The survey collected and analyzed data from eight online job boards (from February through August 2008), plus 217 senior management surveys and thousands of resume submissions through SelectLeaders.  Among the findings, those directly related to corporate real estate jobs include…

In its Autumn 2008 Survey of CRE managers, London-based GVA Grimley reports significant pessimism and plans for portfolio contraction across the board, particularly in leisure (hotels & restaurants), retail, and financial services sectors. 
Among the findings, personnel cuts have left 50% of the corporate real estate users with surplus property, and 40% sitting on completely vacant sites.  Rather than hold the space for better times (e.g. subleasing), a strong C-level emphasis on cost control

Corporate real estate professionals can take advantage of rising vacancy rates. In this article, we discuss how negative absorption affects the commercial office market.