|TCN Worldwide Deals, Industry News and Highlights|
| TCN netWORKING|
| Ten with Ben Podcast|
TCN Worldwide President and CEO, Ross Ford, shared his thoughts on today's ever-changing market conditions on the latest episode of the Ten with Ben Podcast which is produced by our Chicago affiliate Bradford Allen Realty/TCN Worldwide. Watch the full episode here!
| CRE Industry News, Top Stories|
How Interest Rate Hike No. 5 Affects CRE
Commercial Property Executive: Experts elaborate on what to expect next. Wednesday’s news that the Federal Reserve Bank has again raised interest rates comes with little surprise, as the central bank has yet to see inflation slow down. Despite four previous rate hikes this year in March, May, June and July, consumer prices as well as consumer spending remain high.
Cold Storage Feels the Chill of Inflation, Power Costs
Bisnow: Cold storage is one of a few benefactors of the dramatic shift in consumer tendencies that resulted from the pandemic, but as the ebbing effects of the virus ripple and collide with other forces, this subsector of the red-hot industrial real estate market faces growing pains.
Builders Shift to Apartments as U.S. Mortgage Rates Deter Homebuyers
Wealth Management Real Estate: New construction of multifamily properties, which include rental apartments and are therefore less sensitive to rate-induced shifts in demand, jumped 28 percent in August to the highest level since 1986.
| TCN News, Deal Announcements & Member Highlights|
William Sitar Jr., Named Chairman of the TCN Worldwide Board of Directors
TCN Update: “We are very pleased to announce William Sitar Jr. as the Chairman of TCN Worldwide’s Board of Directors,” stated Ross Ford. “Mr. Sitar is a recognized leader in his market and represents the type of professional that has made TCN Worldwide the successful organization it is today. He has distinguished himself as one of our organization’s most impressive leaders and we are fortunate to have someone of his caliber help lead TCN Worldwide in accomplishing our strategic goals.”
Central Penn Business Journal Selected Landmark Commercial Realty/TCN Worldwide in Harrisburg on its Fastest Growing Companies List
Member Announcement: Congratulations, Landmark Commercial! Central Penn Business Journal has selected Landmark Commercial Realty as one of the Fastest Growing Companies in 2022, ranking #19. Fastest Growing Companies recognizes local business growth. Companies are ranked according to revenue growth over a three-year period, with both dollar and percentage increases taken into consideration.
Norris & Stevens, Inc./TCN Worldwide in Portland Brokers $1M Sale In Portland, Oregon
Member Deal Announcement: Galaxy, LLC recently completed the $1,075,000 purchase of 9732 N Taft Avenue in Portland, Oregon. The 5,130 SF industrial building was constructed in 1981 and stands on 0.38 acres. Greg Nesting and Gabe Schnitzer with Portland-based Norris & Stevens, Inc. represented both the seller and the buyer in the transaction.