44
May | June | 2015 Commercial Investment Real Estate
INTERNATIO NAL
BE AT
London's 30 St. Mary Axe building, nicknamed the Gherkin, sold in November
2014 to the Brazilian private investment company Safra Group, for a reported
$1.1 billion, making it 2014's largest private investor transaction, according to
Knight Frank's 2015 Wealth Report. Private investors accounted for $153 billion
of the $619 billion of commercial real estate sold worldwide in 2014, competing
with institutional buyers in both major and smaller markets.
Markets to
Watch
¬
Global of ce rents
rose 7 percent in 2014,
according to Cushman &
Wakef eld, with Dublin, Ireland, showing the largest rent
growth at 26.5 percent, followed by Bogota, Colombia, at
26.2 percent.
Big Deal
London's
"In the U.S.,
41 percent
indicated that
their international
clients were from
Asian countries,
22.5 percent came
from Europe, 21
percent from Latin
America, and 20
percent from the
Middle East."
—"Cross Border Demand and
Investment," a survey of 3,000
Realtors from IREM, CCIM
Institute, and the Canadian Real
Estate Association
Most Expensive
Offi ce Space
by $psf
Source: Cushman & Wakefi eld
London's West End
Hong Kong CBD
New York
Rio de Janeiro
New Delhi
$129
$131
$120
$184
$264
Global Investment Volumes
in U.S. billions
Region
2014
Volume
2015F
Volume
% Change
Western Europe 266.8 317.5 19%
Eastern/Central
Europe
18.8 24.4 30%
Middle East & Africa 5.5 5.9 6%
Latin America 7.6 8.2 8%
North America 409.8 471.3 15%
Asia Pacifi c 502.1 514.8 2.5%
Source: Cushman & Wakefi eld