What a surprise that in the year of 2022, CapStar's revenue has increased by 11%. The lingering effect of the Covid-19 pandemic and after the seven Federal Interest Rate hikes from 0.25% to 4.50%, CapStar is still growing in this volatile market.
Leasing and Sales, Investments, and Business Acquisition
Thanks to our astounding brokers and agents, CapStar's year-to-date gross volume of commercial transactions were over $74 mil for 2022! CapStar closed 34% more commercial leasing deals than last year.
Over the course of 2022, industrial demand has increased for the local areas of Maryland and Virginia at the first quarter of 2022 reporting $587,000,000 total investment acquisitions. In the retail sector, construction has been robust, with the first quarter of 2022 reporting 1,880,563 square feet having been constructed, or a percentage of 0.7%, compared to national reports of 0.5%.
Property Management
With CapStar's experienced agents and brokers, three of our management properties have been brought up to 100% occupancy. This included marketing of the space, screening tenants, and making sure the tenant's business is sustainable for the space in the long-term, allowing CapStar's clients to preserve a return on their investments.
To all the new and long-lasting relationships we have built over the past 28 years: CapStar would like to wish you a Happy New Year in 2023!
*Updated 1/6/2023
Sources:
National Association Of Realtors' Metro Market Report (Q1 2022):
About CapStar Commercial Realty
Since 1994, CapStar Commercial Realty is a full service commercial real estate firm headquartered in Gaithersburg, MD, operating across the District of Columbia, Maryland, and Virginia. CapStar assists small and large companies, from local to an expanding brand, with services in leasing, sales and acquisitions, property management, business acquisitions, consulting, and a unique specialty in restaurants. CapStar’s range of services and proprietary database help sellers, buyers, landlords, and tenants, identify real estate opportunities in retail, office, industrial, land, and condominiums.