Search
 

Outlook On Spieker Properties Raised to Positive

MENLO PARK, CA-International credit-rating agency Fitch IBCA this week raised its outlook on Spieker Properties to positive, a reflection of the office and industrial REIT's strong performance in a continuing boom market.

By Allison Landa | Updated on November 27, 2000

MENLO PARK, CA-Spieker Properties, which has half its portfolio in the San Francisco Bay Area, had its outlook raised to positive on Monday by Fitch IBCA. The international credit-rating agency says the company’s conservative financial profile and an overall excellent performance triggered the rating revision.

Specifically, Fitch notes Spieker’s strong rent growth, which is largely supported by an average remaining lease term of 3.6 years. That average is substantially less than Spieker’s competitors, meaning the developer enjoys more potential tenant turnover and opportunity for increased rental revenue. Fitch also mentions Spieker’s “strong” management team, market expertise and “high-quality” properties in strategic markets.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.