Super Bowl XLVIII
The Polsinelli Report
Monday Properties and Invesco are launching a week-long LED light display tonight at 230 Park Avenue saluting the Super Bowl XLVIII contenders the Seattle Seahawks and the Denver Broncos and spanning the building’s golden cupola to its grand entrance at street level.
Super Bowl XLVII
If you think the Super Bowl is only about football, think again.
A broker friend of mine, who had little, if any, interest in the game of the year, decided to take heed of some of the comments shouted by the armchair quarterbacks gathered in front of the screen. He realized that there was a similarity between the game and his professional life in real estate.
He was able to see the entire playing field, without the personal attachment to a particular team. This enabled him to peel away some valuable lessons from the fumbles and apply the strategies to his real estate presentations.
The commercial real estate firm Jones Lang LaSalle correctly predicted that the Baltimore Ravens would win the Super Bowl last night by using a formula based on the office vacancy rates of the competing teams’ home cities. The hypothesis holds that the city with the higher vacancy rate will produce the winning team.
Heading into last night’s game in New Orleans, JLL called it for the Baltimore Ravens over the San Francisco 49ers. Maryland’s Charm City has a current office vacancy rate of 15.5 percent compared to the City by the Bay’s 11.8 percent figure, according to the firm’s research.
“We’ve gone back to 2000 and looked at several different factors, including absorption rates, and the only one with a high correlation with the winning team was high vacancy rates on the office side,” said John Sikaitis, senior vice president and director of office research at JLL.
“I know commercial real estate and football,”Roger Staubach, executive chairman of the Americas at JLL and former Dallas Cowboys quarterback named the most valuable player of Super Bowl VI, said in a prepared statement last week. “While I can tell you that our hypothesis is right more than it’s wrong, I really like the chances of the Forty-Niners.”
With MetLife Stadium set to host the 2014 Super Bowl for the National Football League, hotel owner and diversified holdings company Loews Corp. has announced its plans to upgrade the Loews Regency Hotel New York with $70 million-worth in renovations.
The renovation will be performed in stages, and is part of Loews’ larger initiative to Read More