What’s This? A New Look for an Iconic Brand?

After 44 Years, RE/MAX Reveals Refreshed Brand Identity

DENVER, Aug. 21, 2017 /PRNewswire/ -- The world's most productive real estate network* is getting even stronger. RE/MAX Co-CEOs, Dave Liniger and Adam Contos, revealed today a refreshed RE/MAX brand, including the world famous balloon logo and wordmark, to hundreds of franchise owners at the annual RE/MAX Broker Owner Conference in San Francisco.

Access the refreshed wordmark and balloon logo here.

"Our new look better represents the enthusiastic entrepreneurs who comprise our network," said Contos. "Great brands evolve and RE/MAX is no different. We believe the updated balloon and wordmark will help our agents grow their business and give them an even bigger competitive advantage in digital, social media and mobile marketing."

RE/MAX Balloon Still Flying High
The iconic red, white and blue hot air balloon has been updated to be brighter, more modern and more appealing to the home buyers and sellers of today – while being instantly recognizable as RE/MAX.

According to Pete Crowe, RE/MAX Senior Vice President of Communications and Marketing, the responses of more than 20,000 consumers factored into the decision to embark on a brand refresh which is the first in the 44 year history of the real estate franchisor. 

"It's a brand evolution, not a brand revolution," said Crowe. "The subtle adjustments to the most powerful image in real estate was a natural next step across our residential, luxury and commercial brands."

That's the Sign of a RE/MAX Agent
Building on the 2016 launch of the Sign of a RE/MAX Agent campaign, the brand refresh continues to grow alongside current real estate trends. For the fourth straight year, the largest group of homebuyers are millennials, who compose 34 percent of buyers.

"Buyers who are 36 years old and younger continue to purchase homes at a higher rate than other age groups," said Crowe. "At the same time, real estate tools and technologies have drastically changed the way we help people buy and sell houses. The refreshed brand is a proactive move to continue to position RE/MAX agents as industry leaders for the home buyers and sellers of today and tomorrow."

Looking Beyond the Horizon
In the coming months, consumers will begin to see the new logo on yard signs, office fronts and advertising. In addition, the network of 115,000 agents in more than 100 countries and territories will celebrate the refreshed look with local events on a global day of celebration on September 20, including at RE/MAX headquarters in Denver. The crisp, contemporary twist on the iconic brand will also be seen on remax.com and in RE/MAX television ads starting this fall.

About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 115,000 agents provide RE/MAX a global reach of more than 100 countries and territories. Nobody sells more real estate than RE/MAX when measured by residential transaction sides. RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE:RMAX). With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $157 million for Children's Miracle Network Hospitals® and other charities. For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.

*As measured by residential transaction sides.

View original content with multimedia:http://www.prnewswire.com/news-releases/whats-this-a-new-look-for-an-iconic-brand-300506305.html

SOURCE RE/MAX, LLC

What’s This? A New Look for an Iconic Brand?

After 44 Years, RE/MAX Reveals Refreshed Brand Identity

DENVER, Aug. 21, 2017 /PRNewswire/ -- The world's most productive real estate network* is getting even stronger. RE/MAX Co-CEOs, Dave Liniger and Adam Contos, revealed today a refreshed RE/MAX brand, including the world famous balloon logo and wordmark, to hundreds of franchise owners at the annual RE/MAX Broker Owner Conference in San Francisco.

Access the refreshed wordmark and balloon logo here.

"Our new look better represents the enthusiastic entrepreneurs who comprise our network," said Contos. "Great brands evolve and RE/MAX is no different. We believe the updated balloon and wordmark will help our agents grow their business and give them an even bigger competitive advantage in digital, social media and mobile marketing."

RE/MAX Balloon Still Flying High
The iconic red, white and blue hot air balloon has been updated to be brighter, more modern and more appealing to the home buyers and sellers of today – while being instantly recognizable as RE/MAX.

According to Pete Crowe, RE/MAX Senior Vice President of Communications and Marketing, the responses of more than 20,000 consumers factored into the decision to embark on a brand refresh which is the first in the 44 year history of the real estate franchisor. 

"It's a brand evolution, not a brand revolution," said Crowe. "The subtle adjustments to the most powerful image in real estate was a natural next step across our residential, luxury and commercial brands."

That's the Sign of a RE/MAX Agent
Building on the 2016 launch of the Sign of a RE/MAX Agent campaign, the brand refresh continues to grow alongside current real estate trends. For the fourth straight year, the largest group of homebuyers are millennials, who compose 34 percent of buyers.

"Buyers who are 36 years old and younger continue to purchase homes at a higher rate than other age groups," said Crowe. "At the same time, real estate tools and technologies have drastically changed the way we help people buy and sell houses. The refreshed brand is a proactive move to continue to position RE/MAX agents as industry leaders for the home buyers and sellers of today and tomorrow."

Looking Beyond the Horizon
In the coming months, consumers will begin to see the new logo on yard signs, office fronts and advertising. In addition, the network of 115,000 agents in more than 100 countries and territories will celebrate the refreshed look with local events on a global day of celebration on September 20, including at RE/MAX headquarters in Denver. The crisp, contemporary twist on the iconic brand will also be seen on remax.com and in RE/MAX television ads starting this fall.

About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 115,000 agents provide RE/MAX a global reach of more than 100 countries and territories. Nobody sells more real estate than RE/MAX when measured by residential transaction sides. RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE:RMAX). With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $157 million for Children's Miracle Network Hospitals® and other charities. For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.

*As measured by residential transaction sides.

View original content with multimedia:http://www.prnewswire.com/news-releases/whats-this-a-new-look-for-an-iconic-brand-300506305.html

SOURCE RE/MAX, LLC

What’s This? A New Look for an Iconic Brand?

After 44 Years, RE/MAX Reveals Refreshed Brand Identity

DENVER, Aug. 21, 2017 /PRNewswire/ -- The world's most productive real estate network* is getting even stronger. RE/MAX Co-CEOs, Dave Liniger and Adam Contos, revealed today a refreshed RE/MAX brand, including the world famous balloon logo and wordmark, to hundreds of franchise owners at the annual RE/MAX Broker Owner Conference in San Francisco.

Access the refreshed wordmark and balloon logo here.

"Our new look better represents the enthusiastic entrepreneurs who comprise our network," said Contos. "Great brands evolve and RE/MAX is no different. We believe the updated balloon and wordmark will help our agents grow their business and give them an even bigger competitive advantage in digital, social media and mobile marketing."

RE/MAX Balloon Still Flying High
The iconic red, white and blue hot air balloon has been updated to be brighter, more modern and more appealing to the home buyers and sellers of today – while being instantly recognizable as RE/MAX.

According to Pete Crowe, RE/MAX Senior Vice President of Communications and Marketing, the responses of more than 20,000 consumers factored into the decision to embark on a brand refresh which is the first in the 44 year history of the real estate franchisor. 

"It's a brand evolution, not a brand revolution," said Crowe. "The subtle adjustments to the most powerful image in real estate was a natural next step across our residential, luxury and commercial brands."

That's the Sign of a RE/MAX Agent
Building on the 2016 launch of the Sign of a RE/MAX Agent campaign, the brand refresh continues to grow alongside current real estate trends. For the fourth straight year, the largest group of homebuyers are millennials, who compose 34 percent of buyers.

"Buyers who are 36 years old and younger continue to purchase homes at a higher rate than other age groups," said Crowe. "At the same time, real estate tools and technologies have drastically changed the way we help people buy and sell houses. The refreshed brand is a proactive move to continue to position RE/MAX agents as industry leaders for the home buyers and sellers of today and tomorrow."

Looking Beyond the Horizon
In the coming months, consumers will begin to see the new logo on yard signs, office fronts and advertising. In addition, the network of 115,000 agents in more than 100 countries and territories will celebrate the refreshed look with local events on a global day of celebration on September 20, including at RE/MAX headquarters in Denver. The crisp, contemporary twist on the iconic brand will also be seen on remax.com and in RE/MAX television ads starting this fall.

About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 115,000 agents provide RE/MAX a global reach of more than 100 countries and territories. Nobody sells more real estate than RE/MAX when measured by residential transaction sides. RE/MAX, LLC, one of the world's leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE:RMAX). With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $157 million for Children's Miracle Network Hospitals® and other charities. For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.

*As measured by residential transaction sides.

View original content with multimedia:http://www.prnewswire.com/news-releases/whats-this-a-new-look-for-an-iconic-brand-300506305.html

SOURCE RE/MAX, LLC

Wisconsin recreational, grazing land and home set for September auction

MEDFORD, Wis., Aug. 21, 2017 /PRNewswire/ -- Approximately 1,428 acres of Wisconsin land -- including a home, recreational land, pasture and tillable land -- will be offered at auction Wednesday, Sept. 20, with Schrader Real Estate and Auction Company marketing the property and conducting the auction.

The land, located in Price County, northwest of Eau Claire, will be offered in 10 tracts, including the two-story country home on 2.5 acres. The land tracts range in size from 68 acres to 319.5 acres. Bidders may bid on any combination of tracts or the entire property.

"The home has a full-service bar with a walk-in cooler, a large dining room, and a full finished basement with recreation area and dormitory style sleeping quarters. It would be excellent either as a private home or a corporate hunting retreat," said Gary Bailey, with Schrader.

"Someone could buy all of this land and have a beautiful retreat that combines woodlands, a creek, grazing land and some potential building sites. The land has produced quite a few trophy deer," said R.D. Schrader, president of the company. "Bidders may bid on any combination of tracts. Some may seek the recreational land, whereas others may prefer the pasture and tillable land."

The largest land tract, 319.5 acres, has a heated shop with equipment storage, with seven overhead doors.

Schrader personnel will be available at the property to accommodate inspections on Aug. 25 and 26, as well as Sept. 9, 10 and 19. Individuals seeking additional information may visit www.schraderauction.com or call for details.

The auction will begin at 6 p.m. Wednesday, Sept. 20, at the Simek Recreation Center, 1037 West Broadway Avenue, Medford.

Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of farmland, real estate and equipment throughout the United States and is a five-time USA Today/National Auctioneers Association Auction of the Year winner.

For more information:
Carl Carter, 205-823-3273

 

View original content:http://www.prnewswire.com/news-releases/wisconsin-recreational-grazing-land-and-home-set-for-september-auction-300507098.html

SOURCE Schrader Real Estate and Auction Company

Wisconsin recreational, grazing land and home set for September auction

MEDFORD, Wis., Aug. 21, 2017 /PRNewswire/ -- Approximately 1,428 acres of Wisconsin land -- including a home, recreational land, pasture and tillable land -- will be offered at auction Wednesday, Sept. 20, with Schrader Real Estate and Auction Company marketing the property and conducting the auction.

The land, located in Price County, northwest of Eau Claire, will be offered in 10 tracts, including the two-story country home on 2.5 acres. The land tracts range in size from 68 acres to 319.5 acres. Bidders may bid on any combination of tracts or the entire property.

"The home has a full-service bar with a walk-in cooler, a large dining room, and a full finished basement with recreation area and dormitory style sleeping quarters. It would be excellent either as a private home or a corporate hunting retreat," said Gary Bailey, with Schrader.

"Someone could buy all of this land and have a beautiful retreat that combines woodlands, a creek, grazing land and some potential building sites. The land has produced quite a few trophy deer," said R.D. Schrader, president of the company. "Bidders may bid on any combination of tracts. Some may seek the recreational land, whereas others may prefer the pasture and tillable land."

The largest land tract, 319.5 acres, has a heated shop with equipment storage, with seven overhead doors.

Schrader personnel will be available at the property to accommodate inspections on Aug. 25 and 26, as well as Sept. 9, 10 and 19. Individuals seeking additional information may visit www.schraderauction.com or call for details.

The auction will begin at 6 p.m. Wednesday, Sept. 20, at the Simek Recreation Center, 1037 West Broadway Avenue, Medford.

Schrader Real Estate and Auction Company, based in Columbia City, Indiana, is a leading auctioneer of farmland, real estate and equipment throughout the United States and is a five-time USA Today/National Auctioneers Association Auction of the Year winner.

For more information:
Carl Carter, 205-823-3273

 

View original content:http://www.prnewswire.com/news-releases/wisconsin-recreational-grazing-land-and-home-set-for-september-auction-300507098.html

SOURCE Schrader Real Estate and Auction Company

Florida’s newest and fastest selling intracoastal waterfront community, Seaside Landings, is now 75% sold out and in the process of releasing the final direct waterfront properties.

FLAGLER COUNTY, Fla., Aug. 21, 2017 /PRNewswire/ -- Patten Companies is proud to announce its newest and fastest selling waterfront community on Florida's desirable east coast is 75% sold out. Patten Companies began selling intracoastal waterfront homesites at Seaside Landings while in the pre-construction phase of development last year. Paved roads are now fully complete, with the gated entrance and waterfront recreation area currently underway. The final direct waterfront properties are now being released.

This stunning intracoastal community on Florida's desirable east coast boasts spacious homesites, majestic oaks and wide canals. Property like this can never replicated or permitted again.

"Pricing and selection will never be better than right now," says Jon Riley of Patten Companies. "If you're going to be in the market for intracoastal property in the next five years but have the means to purchase now, you owe it to yourself to come see Seaside Landings first-hand," urges Riley

Seaside Landings is an easy drive to the scenic A-1-A and Flagler Beaches, the Palm Coast Town Center, I-95, and to a host of surrounding international airports. The new Florida Hospital is also conveniently located just outside the community. More details about Seaside Landings can be found here, http://www.seasidelandings.com/about-seaside-landings/.

The gated community will offer the pleasures of a modern lifestyle expected and proven by Patten Companies and the aesthetics of a charming once-hidden-away beach town. It will provide each homeowner access to the intracoastal via direct frontage or via boat slip by the intracoastal waterway. The roads are fully paved and city utilities, including water and sewer are also fully provided, and no CDD fees.

Now is the time to take advantage of the best possible selection in Florida's newest waterfront community. This is an incredible opportunity to own waterfront property along one of Florida's most valued coasts. Direct waterfront homesites will be available starting at $159,900, while inventory remains.

Contact Seaside Landings by calling (888) 564-9148 ext. 27 or visit http://www.seasidelandings.com/contact/.

Contact Information:
Patten Companies
Visit: http://seasidelandings.com/
Email: seaside@pattenco.com
Phone: (888) 564-9148 ext. 27

ABOUT PATTEN COMPANIES
Patten Companies and its partners are recognized as being among the industry's foremost
authorities on real estate investment and development across the nation. Our culture is founded
on integrity and professionalism.

View original content with multimedia:http://www.prnewswire.com/news-releases/floridas-newest-and-fastest-selling-intracoastal-waterfront-community-seaside-landings-is-now-75-sold-out-and-in-the-process-of-releasing-the-final-direct-waterfront-properties-300507067.html

SOURCE Patten Companies

July Construction Starts Increase 6 Percent

Gains Reported for Public Works, Power Plants, Multifamily Housing, Healthcare Facilities

NEW YORK, Aug. 21, 2017 /PRNewswire/ -- The value of new construction starts in July advanced 6% from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics.  Leading the way was a 26% jump by the nonbuilding construction sector, which reflected an improved level for public works and the start of two massive power plants, located respectively in California and New York.  Residential building in July increased 8%, as multifamily housing rebounded after three consecutive monthly declines.  Running counter was a 7% slide for nonresidential building following its 14% hike in June, as both office buildings and hotels retreated from June's elevated activity, outweighing a sharp rise for healthcare facilities in July.  During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago.  Dampening the year-to-date performance for total construction was a steep 44% decline for the electric utility/gas plant category, even with the two massive power plants reported as July starts.  If the electric utility/gas plant category is excluded, total construction starts in this year's January-July period would be up 3% from a year ago.

July's data lifted the Dodge Index to 154 (2000=100), compared to an upwardly revised 145 for June.  After this year's strong first quarter, the Dodge Index had receded 11% in the second quarter.  July's total construction gain brings activity back to within 2% of the first quarter's pace.  "July's increase means the third quarter began on a healthy note, which should help to maintain the up-and-down pattern on a quarterly basis that's been present for construction starts over the past year," stated Robert A. Murray, chief economist for Dodge Data & Analytics.  "Within that up-and-down pattern there remains a modest upward trend, as it appears that construction starts are still in the process of reaching a peak, as opposed to having already reached a peak.  Public works construction, after sluggish activity earlier in the year, is showing hesitant signs of improvement.  It's true that residential building is now seeing generally decreased activity for multifamily housing, but the monthly declines continue to be mixed in with monthly gains, such as what took place in July.  For nonresidential building, growth is being supported by its institutional segment, while commercial building is leveling off due to varied behavior by its individual project types."

Nonbuilding construction in July was $195.8 billion (annual rate), up 26% from June and achieving its second highest amount so far in 2017 after February.  The public works categories as a group rose 12%, rebounding after a 7% decline in June.  Water supply construction had a particularly strong month, soaring 136% with the lift coming from the start of the $844 million Vista Ridge water supply pipeline project in San Antonio TX, as well as an $88 million recycled water treatment facility in San Francisco CA.  Sewer construction improved 37% after a weak June, although river/harbor development receded 2%.  Highway and bridge construction increased 10% in July, and featured the start of the $322 million I-74 bridge replacement across the Mississippi River in Davenport IA, a $192 million highway expansion in San Antonio TX, and a $94 million rehabilitation project on the Henry Hudson Parkway in New York NY.  Through the first seven months of 2017, the top five states in terms of the dollar amount of highway and bridge construction starts were – Texas, California, Florida, Pennsylvania, and Ohio.  The miscellaneous public works category, which includes natural gas pipelines and mass transit, slipped 10% in July, continuing to recede after very strong activity back in May.  Even with its decline, miscellaneous public works still included the July start of the $1.5 billion Brownsville to Nueces natural gas pipeline in Texas and a $225 million rail transit project in Bellevue WA.  The electric utility/gas plant category surged 64% in July, registering its second straight monthly gain in contrast to the substantially weaker activity reported during the first five months of 2017.  Two massive natural gas-fired power generation facilities were included as construction starts in July – the $2.2 billon Carlsbad Energy Center in Carlsbad CA and the $1.6 billion Cricket Valley Energy Center in Dover Plains NY.  There were five other large power plant projects that reached groundbreaking in July, located in Connecticut ($550 million), Georgia ($400 million), Minnesota ($300 million), Arkansas ($203 million), and Nebraska ($150 million).

Residential building in July was $301.1 billion (annual rate), up 8%.  Multifamily housing increased 30%, strengthening after three monthly declines in a row.  There were 9 multifamily projects valued at $100 million or more that reached groundbreaking in July, led by the $360 million Wolf Point East apartment tower in Chicago IL, the $225 million multifamily portion of the $280 million mixed-use redevelopment of the Domino sugar factory in Brooklyn NY, and a $225 million condominium tower in Honolulu HI.  In July, the top five metropolitan areas in terms of the dollar amount of multifamily starts were – New York NY, Chicago IL, Los Angeles CA, Boston MA, and Atlanta GA.  Through the first seven months of 2017, the top five metropolitan areas, with their percent change from a year ago, were – New York NY, down 20%; Los Angeles CA, up 16%; Chicago IL, down 2%; San Francisco CA, up 27%; and Washington DC, up 6%.  Single family housing in July was flat with the previous month, not yet showing renewed growth after settling back 4% in the second quarter following its first quarter 6% gain. By geography, single family housing in July performed as follows relative to June – the Northeast, up 3%; the South Central, up 2%; the South Atlantic, up 1%; the West, unchanged; and the Midwest, down 3%.

Nonresidential building in July was $231.2 billion (annual rate), down 7%.  The commercial categories as a group dropped 22%, retreating after climbing 24% in June.  Office construction in June had surged 82%, boosted by the start of 8 office projects valued at $100 million or more, led by a $585 million Facebook data center in Omaha NE and the $400 million office portion of the $500 million renovation of the Willis Tower in Chicago IL.  In July office construction fell 52%, with only one project valued at $100 million or more – the $118 million Wheaton Town Center in Wheaton MD.  A similar pattern was present for hotels, which surged 65% in June with the push coming from the start of the $575 million hotel portion of the $900 million Seminole Hard Rock Hotel and Casino expansion in Hollywood FL.  In July hotel construction fell 42%, with the largest project being the $78 million hotel portion of a $115 million hotel/apartment mixed-use project near the Seattle-Tacoma International Airport.  On the plus side, warehouse construction jumped 46% in July, lifted by the start of a $144 million warehouse complex in Stockton CA, a $135 million Wal-Mart distribution center in Mobile AL, and a $100 million Amazon distribution center in Fresno CA.  July gains were also reported for commercial garages, up 9%; and stores and shopping centers, up 7%.  Manufacturing plant construction in July fell 29% from its June amount that included the start of a $1.8 billion methane plant in Louisiana.  While down from June, manufacturing plant construction did see the start of several large projects in July, such as a $1.1 billion polyethylene plant expansion in Beaumont TX.

The institutional side of the nonresidential building market climbed 16% in July, in contrast to the declines reported for the commercial and manufacturing segments.  Healthcare facilities jumped 108% after a weak June, led by groundbreaking for the $1.5 billion Penn Medicine Patient Pavilion in Philadelphia PA.  Other large healthcare facility projects that started in July were the following – the $349 million Inspira Medical Center in Glassboro NJ, the $125 million Bristal Jericho assisted living facility in Oyster Bay NY, a $110 million hospital expansion in Bethesda MD, and a $105 million ambulatory care complex at the University of Utah in Salt Lake City UT.  Transportation terminal construction also posted a large percentage increase after a weak June, rising 85% with the help of a $121 million aircraft maintenance facility at Tinker Air Force Base in Oklahoma City OK.  The religious building category, while still at a very low level, increased 24% in July.  On the negative side, educational facilities slipped 3% in July, although the category did include the start of several large school construction projects, including a $104 million high school renovation in Cleburne TX, a $104 million high school in Buda TX, a $96 million public school complex in Willoughby OH, and a $91 million high school in Stoughton MA.  Through the first seven months of 2017, the top five states in terms of the dollar amount of educational facility construction were – Texas, New York, California, Washington, and Massachusetts.  July declines were also registered by public buildings (courthouses and detention centers), down 13%; and amusement-related work, down 32%.

The 1% slippage for total construction starts on an unadjusted basis during the January-July period of 2017 was due to diminished activity for nonbuilding construction, as both residential building and nonresidential building managed to post gains.  Nonbuilding construction dropped 15% year-to-date, with electric utilities/gas plants down 44% and public works down 2%.  Residential building year-to-date was up 1%, with a 9% increase for single family housing slightly outweighing a 14% slide for multifamily housing.  Nonresidential building year-to-date climbed 8%, with institutional building up 12% while commercial building held steady, combined with a 27% increase for manufacturing building that marks a shift from this category's sharp declines in 2015 and 2016.  By geography, total construction starts during the January-July period showed this pattern relative to a year ago – the South Atlantic, up 8%; the Northeast, up 6%; the West, up 2%; the South Central, down 7%; and the Midwest, down 14%.  The 7% year-to-date decline in the South Central reflected in part the comparison to the first seven months of 2016 that included $6.2 billion for two liquefied natural gas terminals, while the 14% year-to-date decline in the Midwest reflected in part the comparison to the first seven months of 2016 that included the $3.8 billion Dakota Access pipeline.

 

July 2017 Construction Starts












Monthly Summary of Construction Starts




Prepared by Dodge Data & Analytics












        Monthly Construction Starts




Seasonally Adjusted Annual Rates, in Millions of Dollars












July 2017


June 2017


% Change 


Nonresidential Building


$231,232


$249,353


-7


Residential Building


301,088


279,606


+8


Nonbuilding Construction


195,771


155,220


+26


Total Construction


$728,091


$684,179


+6




















                     The Dodge Index




           Year 2000=100, Seasonally Adjusted 








    July 2017.......154




    June 2017 .....145




















      Year-to-Date Construction Starts




             Unadjusted Totals, in Millions of Dollars












7 Mos. 2017


7 Mos. 2016


% Change 


Nonresidential Building


$142,049


$131,823


+8


Residential Building


175,522


173,018


+1


Nonbuilding Construction


94,286


110,644


-15


Total Construction


$411,857


$415,485


-1










  Total Construction, excluding








   electric utilities/gas plants


$392,870


$381,410


+3










 

About Dodge Data & Analytics:  Dodge Data & Analytics is North America's leading provider of analytics and software-based workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities and execute on those opportunities for enhanced business performance. Whether it's on a local, regional or national level, Dodge makes the hidden obvious, empowering its clients to better understand their markets, uncover key relationships, size growth opportunities, and pursue those opportunities with success. The company's construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its 100-year-old legacy of continuous innovation to help the industry meet the building challenges of the future.  To learn more, visit www.construction.com.

Media Contact: Benjamin Gorelick | Spector & Associates +1-212-943-5858, ben@spectorpr.com

 

View original content with multimedia:http://www.prnewswire.com/news-releases/july-construction-starts-increase-6-percent-300507052.html

SOURCE Dodge Data & Analytics

July Construction Starts Increase 6 Percent

Gains Reported for Public Works, Power Plants, Multifamily Housing, Healthcare Facilities

NEW YORK, Aug. 21, 2017 /PRNewswire/ -- The value of new construction starts in July advanced 6% from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics.  Leading the way was a 26% jump by the nonbuilding construction sector, which reflected an improved level for public works and the start of two massive power plants, located respectively in California and New York.  Residential building in July increased 8%, as multifamily housing rebounded after three consecutive monthly declines.  Running counter was a 7% slide for nonresidential building following its 14% hike in June, as both office buildings and hotels retreated from June's elevated activity, outweighing a sharp rise for healthcare facilities in July.  During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago.  Dampening the year-to-date performance for total construction was a steep 44% decline for the electric utility/gas plant category, even with the two massive power plants reported as July starts.  If the electric utility/gas plant category is excluded, total construction starts in this year's January-July period would be up 3% from a year ago.

July's data lifted the Dodge Index to 154 (2000=100), compared to an upwardly revised 145 for June.  After this year's strong first quarter, the Dodge Index had receded 11% in the second quarter.  July's total construction gain brings activity back to within 2% of the first quarter's pace.  "July's increase means the third quarter began on a healthy note, which should help to maintain the up-and-down pattern on a quarterly basis that's been present for construction starts over the past year," stated Robert A. Murray, chief economist for Dodge Data & Analytics.  "Within that up-and-down pattern there remains a modest upward trend, as it appears that construction starts are still in the process of reaching a peak, as opposed to having already reached a peak.  Public works construction, after sluggish activity earlier in the year, is showing hesitant signs of improvement.  It's true that residential building is now seeing generally decreased activity for multifamily housing, but the monthly declines continue to be mixed in with monthly gains, such as what took place in July.  For nonresidential building, growth is being supported by its institutional segment, while commercial building is leveling off due to varied behavior by its individual project types."

Nonbuilding construction in July was $195.8 billion (annual rate), up 26% from June and achieving its second highest amount so far in 2017 after February.  The public works categories as a group rose 12%, rebounding after a 7% decline in June.  Water supply construction had a particularly strong month, soaring 136% with the lift coming from the start of the $844 million Vista Ridge water supply pipeline project in San Antonio TX, as well as an $88 million recycled water treatment facility in San Francisco CA.  Sewer construction improved 37% after a weak June, although river/harbor development receded 2%.  Highway and bridge construction increased 10% in July, and featured the start of the $322 million I-74 bridge replacement across the Mississippi River in Davenport IA, a $192 million highway expansion in San Antonio TX, and a $94 million rehabilitation project on the Henry Hudson Parkway in New York NY.  Through the first seven months of 2017, the top five states in terms of the dollar amount of highway and bridge construction starts were – Texas, California, Florida, Pennsylvania, and Ohio.  The miscellaneous public works category, which includes natural gas pipelines and mass transit, slipped 10% in July, continuing to recede after very strong activity back in May.  Even with its decline, miscellaneous public works still included the July start of the $1.5 billion Brownsville to Nueces natural gas pipeline in Texas and a $225 million rail transit project in Bellevue WA.  The electric utility/gas plant category surged 64% in July, registering its second straight monthly gain in contrast to the substantially weaker activity reported during the first five months of 2017.  Two massive natural gas-fired power generation facilities were included as construction starts in July – the $2.2 billon Carlsbad Energy Center in Carlsbad CA and the $1.6 billion Cricket Valley Energy Center in Dover Plains NY.  There were five other large power plant projects that reached groundbreaking in July, located in Connecticut ($550 million), Georgia ($400 million), Minnesota ($300 million), Arkansas ($203 million), and Nebraska ($150 million).

Residential building in July was $301.1 billion (annual rate), up 8%.  Multifamily housing increased 30%, strengthening after three monthly declines in a row.  There were 9 multifamily projects valued at $100 million or more that reached groundbreaking in July, led by the $360 million Wolf Point East apartment tower in Chicago IL, the $225 million multifamily portion of the $280 million mixed-use redevelopment of the Domino sugar factory in Brooklyn NY, and a $225 million condominium tower in Honolulu HI.  In July, the top five metropolitan areas in terms of the dollar amount of multifamily starts were – New York NY, Chicago IL, Los Angeles CA, Boston MA, and Atlanta GA.  Through the first seven months of 2017, the top five metropolitan areas, with their percent change from a year ago, were – New York NY, down 20%; Los Angeles CA, up 16%; Chicago IL, down 2%; San Francisco CA, up 27%; and Washington DC, up 6%.  Single family housing in July was flat with the previous month, not yet showing renewed growth after settling back 4% in the second quarter following its first quarter 6% gain. By geography, single family housing in July performed as follows relative to June – the Northeast, up 3%; the South Central, up 2%; the South Atlantic, up 1%; the West, unchanged; and the Midwest, down 3%.

Nonresidential building in July was $231.2 billion (annual rate), down 7%.  The commercial categories as a group dropped 22%, retreating after climbing 24% in June.  Office construction in June had surged 82%, boosted by the start of 8 office projects valued at $100 million or more, led by a $585 million Facebook data center in Omaha NE and the $400 million office portion of the $500 million renovation of the Willis Tower in Chicago IL.  In July office construction fell 52%, with only one project valued at $100 million or more – the $118 million Wheaton Town Center in Wheaton MD.  A similar pattern was present for hotels, which surged 65% in June with the push coming from the start of the $575 million hotel portion of the $900 million Seminole Hard Rock Hotel and Casino expansion in Hollywood FL.  In July hotel construction fell 42%, with the largest project being the $78 million hotel portion of a $115 million hotel/apartment mixed-use project near the Seattle-Tacoma International Airport.  On the plus side, warehouse construction jumped 46% in July, lifted by the start of a $144 million warehouse complex in Stockton CA, a $135 million Wal-Mart distribution center in Mobile AL, and a $100 million Amazon distribution center in Fresno CA.  July gains were also reported for commercial garages, up 9%; and stores and shopping centers, up 7%.  Manufacturing plant construction in July fell 29% from its June amount that included the start of a $1.8 billion methane plant in Louisiana.  While down from June, manufacturing plant construction did see the start of several large projects in July, such as a $1.1 billion polyethylene plant expansion in Beaumont TX.

The institutional side of the nonresidential building market climbed 16% in July, in contrast to the declines reported for the commercial and manufacturing segments.  Healthcare facilities jumped 108% after a weak June, led by groundbreaking for the $1.5 billion Penn Medicine Patient Pavilion in Philadelphia PA.  Other large healthcare facility projects that started in July were the following – the $349 million Inspira Medical Center in Glassboro NJ, the $125 million Bristal Jericho assisted living facility in Oyster Bay NY, a $110 million hospital expansion in Bethesda MD, and a $105 million ambulatory care complex at the University of Utah in Salt Lake City UT.  Transportation terminal construction also posted a large percentage increase after a weak June, rising 85% with the help of a $121 million aircraft maintenance facility at Tinker Air Force Base in Oklahoma City OK.  The religious building category, while still at a very low level, increased 24% in July.  On the negative side, educational facilities slipped 3% in July, although the category did include the start of several large school construction projects, including a $104 million high school renovation in Cleburne TX, a $104 million high school in Buda TX, a $96 million public school complex in Willoughby OH, and a $91 million high school in Stoughton MA.  Through the first seven months of 2017, the top five states in terms of the dollar amount of educational facility construction were – Texas, New York, California, Washington, and Massachusetts.  July declines were also registered by public buildings (courthouses and detention centers), down 13%; and amusement-related work, down 32%.

The 1% slippage for total construction starts on an unadjusted basis during the January-July period of 2017 was due to diminished activity for nonbuilding construction, as both residential building and nonresidential building managed to post gains.  Nonbuilding construction dropped 15% year-to-date, with electric utilities/gas plants down 44% and public works down 2%.  Residential building year-to-date was up 1%, with a 9% increase for single family housing slightly outweighing a 14% slide for multifamily housing.  Nonresidential building year-to-date climbed 8%, with institutional building up 12% while commercial building held steady, combined with a 27% increase for manufacturing building that marks a shift from this category's sharp declines in 2015 and 2016.  By geography, total construction starts during the January-July period showed this pattern relative to a year ago – the South Atlantic, up 8%; the Northeast, up 6%; the West, up 2%; the South Central, down 7%; and the Midwest, down 14%.  The 7% year-to-date decline in the South Central reflected in part the comparison to the first seven months of 2016 that included $6.2 billion for two liquefied natural gas terminals, while the 14% year-to-date decline in the Midwest reflected in part the comparison to the first seven months of 2016 that included the $3.8 billion Dakota Access pipeline.

 

July 2017 Construction Starts












Monthly Summary of Construction Starts




Prepared by Dodge Data & Analytics












        Monthly Construction Starts




Seasonally Adjusted Annual Rates, in Millions of Dollars












July 2017


June 2017


% Change 


Nonresidential Building


$231,232


$249,353


-7


Residential Building


301,088


279,606


+8


Nonbuilding Construction


195,771


155,220


+26


Total Construction


$728,091


$684,179


+6




















                     The Dodge Index




           Year 2000=100, Seasonally Adjusted 








    July 2017.......154




    June 2017 .....145




















      Year-to-Date Construction Starts




             Unadjusted Totals, in Millions of Dollars












7 Mos. 2017


7 Mos. 2016


% Change 


Nonresidential Building


$142,049


$131,823


+8


Residential Building


175,522


173,018


+1


Nonbuilding Construction


94,286


110,644


-15


Total Construction


$411,857


$415,485


-1










  Total Construction, excluding








   electric utilities/gas plants


$392,870


$381,410


+3










 

About Dodge Data & Analytics:  Dodge Data & Analytics is North America's leading provider of analytics and software-based workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities and execute on those opportunities for enhanced business performance. Whether it's on a local, regional or national level, Dodge makes the hidden obvious, empowering its clients to better understand their markets, uncover key relationships, size growth opportunities, and pursue those opportunities with success. The company's construction project information is the most comprehensive and verified in the industry. Dodge is leveraging its 100-year-old legacy of continuous innovation to help the industry meet the building challenges of the future.  To learn more, visit www.construction.com.

Media Contact: Benjamin Gorelick | Spector & Associates +1-212-943-5858, ben@spectorpr.com

 

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SOURCE Dodge Data & Analytics

John Hancock Real Estate acquires Boston’s HarborView at the Navy Yard, a 224-unit, Class-A high-rise multi-family property

TSX/NYSE/PSE: MFC SEHK:945

BOSTON, Aug. 21, 2017 /PRNewswire/ - John Hancock Real Estate today said it has acquired HarborView at the Navy Yard, located on Boston Harbor in the historic Charlestown Navy Yard.

The 224-unit, Class-A high-rise multi-family property, constructed in 2007, is part of the ongoing redevelopment of the Navy Yard, once one of the oldest shipbuilding yards in the United States. Situated overlooking downtown Boston, HarborView also is a neighbor of the famed USS Constitution, the oldest commissioned warship in the US Navy.

"HarborView at the Navy Yard is a solid addition to the John Hancock Real Estate portfolio and brings our residential footprint in the Boston area to nearly 1 million square feet," said Kevin Adolphe, President and CEO of John Hancock Real Estate. "We have a long history in Boston, so we are particularly pleased to make this acquisition and highlight our continued commitment to the City."

HarborView's units feature high quality finishes and building amenities. The property is less than a mile from downtown Boston and offers easy access to public transportation and to major regional thoroughfares.

Since 2012, John Hancock Real Estate has grown its Boston area real estate portfolio by nearly 1.5 million square feet through strategic acquisitions and developments. In addition to HarborView, John Hancock made an equity investment in the 295-unit, 17-story multi-family residential development at Boston Landing and acquired 535-545 Boylston street, a 13-story office building located at the intersection of Boylston and Clarendon Streets in Boston's Back Bay.

Operating as John Hancock Real Estate in the U.S. and Manulife Real Estate in all other parts of the world, the Company's real estate portfolio is diversified by both geography and asset type, consisting primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and the United States. With this new acquisition, the global real estate portfolio now represents assets under management of more than US$16 billion with properties totaling more than 61 million SF. Other key markets in the United States include Chicago, Los Angeles, New York, Washington DC, San Francisco and Atlanta.

About Manulife Real Estate and John Hancock Real Estate
Manulife has been investing in and managing direct core and core-plus real estate for more than 80 years. Operating as John Hancock Real Estate in the U.S. and Manulife Real Estate elsewhere, we invest, own, develop and asset manage commercial real estate in major metropolitan cities across the globe. We leverage our fully integrated in-house capabilities to serve our customers and investors as well as manage the space requirements and own use facilities for Manulife and John Hancock operations around the world. Manulife Real Estate is the global real estate arm of Manulife and is a unit of Manulife Asset Management Private Markets where we extend our asset management capabilities for the benefit of institutional investors through our real estate fund platform. As at June 30, 2017, the Manulife Real Estate portfolio totaled more than 61 million square feet with an AUM market value of US$16.6 billion.

About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. As of June 30, 2017, we had over $1 trillion (US$780 billion) in assets under management and administration, and in the previous 12 months we made $26.7 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

SOURCE Manulife Financial Corporation

John Hancock Real Estate acquires Boston’s HarborView at the Navy Yard, a 224-unit, Class-A high-rise multi-family property

TSX/NYSE/PSE: MFC SEHK:945

BOSTON, Aug. 21, 2017 /PRNewswire/ - John Hancock Real Estate today said it has acquired HarborView at the Navy Yard, located on Boston Harbor in the historic Charlestown Navy Yard.

The 224-unit, Class-A high-rise multi-family property, constructed in 2007, is part of the ongoing redevelopment of the Navy Yard, once one of the oldest shipbuilding yards in the United States. Situated overlooking downtown Boston, HarborView also is a neighbor of the famed USS Constitution, the oldest commissioned warship in the US Navy.

"HarborView at the Navy Yard is a solid addition to the John Hancock Real Estate portfolio and brings our residential footprint in the Boston area to nearly 1 million square feet," said Kevin Adolphe, President and CEO of John Hancock Real Estate. "We have a long history in Boston, so we are particularly pleased to make this acquisition and highlight our continued commitment to the City."

HarborView's units feature high quality finishes and building amenities. The property is less than a mile from downtown Boston and offers easy access to public transportation and to major regional thoroughfares.

Since 2012, John Hancock Real Estate has grown its Boston area real estate portfolio by nearly 1.5 million square feet through strategic acquisitions and developments. In addition to HarborView, John Hancock made an equity investment in the 295-unit, 17-story multi-family residential development at Boston Landing and acquired 535-545 Boylston street, a 13-story office building located at the intersection of Boylston and Clarendon Streets in Boston's Back Bay.

Operating as John Hancock Real Estate in the U.S. and Manulife Real Estate in all other parts of the world, the Company's real estate portfolio is diversified by both geography and asset type, consisting primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and the United States. With this new acquisition, the global real estate portfolio now represents assets under management of more than US$16 billion with properties totaling more than 61 million SF. Other key markets in the United States include Chicago, Los Angeles, New York, Washington DC, San Francisco and Atlanta.

About Manulife Real Estate and John Hancock Real Estate
Manulife has been investing in and managing direct core and core-plus real estate for more than 80 years. Operating as John Hancock Real Estate in the U.S. and Manulife Real Estate elsewhere, we invest, own, develop and asset manage commercial real estate in major metropolitan cities across the globe. We leverage our fully integrated in-house capabilities to serve our customers and investors as well as manage the space requirements and own use facilities for Manulife and John Hancock operations around the world. Manulife Real Estate is the global real estate arm of Manulife and is a unit of Manulife Asset Management Private Markets where we extend our asset management capabilities for the benefit of institutional investors through our real estate fund platform. As at June 30, 2017, the Manulife Real Estate portfolio totaled more than 61 million square feet with an AUM market value of US$16.6 billion.

About Manulife
Manulife Financial Corporation is a leading international financial services group that helps people achieve their dreams and aspirations by putting customers' needs first and providing the right advice and solutions. We operate as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2016, we had approximately 35,000 employees, 70,000 agents, and thousands of distribution partners, serving more than 22 million customers. As of June 30, 2017, we had over $1 trillion (US$780 billion) in assets under management and administration, and in the previous 12 months we made $26.7 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

SOURCE Manulife Financial Corporation