May 3, 2024, 1:30 p.m.

Sunshine Corner Update

Sara's Sunshine Corner

Welcome to my newsletter!

Sunshine Corner is SRR Consulting’s bi-monthly newsletter with updates, news, and Sara's views on the US economy and commercial real estate.

Hello Sunshine,

It has been a long week of technical difficulties, my friends.

On one hand, digging into the Expanded NPI is my new favorite thing. On the other hand, my entrepreneurial journey into setting up payment systems and two versions of document hosting is no fun at all. “I am learning new skills” is the mantra that keeps me rolling along with the proverbial punches.

The good Sunshine Corner news

Next Tuesday’s edition of the newsletter will not be disrupted. Sign up for a paid subscription — so cheap at $10/month or even cheaper at $100/year! — to continue receiving my fabulous content.

Upgrade now

The weird Sunshine Corner news

Links to prior newsletters in your inbox may be broken, so here is a fresh archive link.

The not-so good Real Estate Quarterly news

Although flush with excellent content on property type and subtype performance, I am delayed in adding this content to my new SRR Real Estate Quarterly page.

Several technical hiccups occurred in rapid succession to cause this delay, but all is back on-track today. As my great-grandmother taught me in Mississippi, we can tackle hiccups with sugar cubes. So, I tackled one sweet nugget of technical difficulty at a time and the backend is done.

All that remains is the fun part, adding the content to the site!

The good Real Estate Quarterly news

Paid subscribers to Sunshine Corner will receive the next newsletter AND the first issue of Real Estate Quarterly in their inbox on May 7.

As a quick peek, the chart below shows annual property type and subtype returns ending in the first quarter of this year and the prior two years.

Annual NCREIF Property Index returns for periods ending in 1Q 2024, 1Q 2023, and 1Q 2022 by property type and subtype. For the year ending 1Q 2024: Logistics returns were -3.6% for local warehouse, -3.5% for regional warehouse, -3.4% for national/bulk warehouse, and 0.5% for specialized logistics; Office returns were -21.7% for primary office, -12.6% for secondary office, and -2.5% for medical office; Residential returns were -6.5% for multifamily, 2.4% for student housing, and -3.6% for single-family rental; Retail returns were 1.3% for strip retail, 1.4% for mall, and -9.2% for street retail.
Source: NCREIF, SRR Consulting, May 3, 20204.

These categories are a mix of standard NCREIF cuts and my own customized slices. Twenty-five years of using NCREIF data means I know a few tricks for aligning the data with how investors approach the market. Subscribe to learn more! 🌞

Thanks for reading!

Fun Facts: Sunshine marks the start and end of each day and illuminates the moon to mark the start and end of each month. New data covering the economic and demographic drivers of real estate performance are released at differing monthly and quarterly cadences such that an important data release occurs at least once a week. It is chaos. To build this newsletter's calendar, I chose to follow sunshine and release this newsletter twice per month, at the start (new moon) and end (full moon) of a lunar month. Problem solved. 🌞

You just read issue #3 of Sara's Sunshine Corner. You can also browse the full archives of this newsletter.

Threads X LinkedIn mastodon.world/
Powered by Buttondown, the easiest way to start and grow your newsletter.