Economy

New environmental regulations and trends have pushed up restaurants operation costs.

On the real estate front the indicators parallel the news in the sky.

Boston, Chicago and New York City will see more supply than demand this year.

At present, the moratorium does not affect New York City, which is served by Con Edison. However, on its website, Con Edison stated, “We continue to accept new gas customer applications in New York City. We will continue to monitor increases in customer demand and our ability to meet that demand with traditional supplies or clean alternatives in our New York City gas service area.”

Spencer Levy, chairman, America's research at CBRE, predicts 2019 will be similar to 2018, although some news sources have voiced stronger economic concerns.

The firm has named Larry Cambra as its new Director of Brokerage in San Diego, and he plans to focus on recruiting brokerage talent in the year ahead.

This year, JLL projects investment volumes will be approximately 5 to 10% below the 2018 total.

The federal government shutdown, now in its 28th day and with no end in sight, is impacting 18,000 federal employees that work at affected agencies as well as an unknown number of low-wage federal contractors in New York City.