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And winner for “Shortest Article on Commercial Real Estate” goes to…

Wall Street Journal’s “Real Estate Journal”, with this tiny gem Capitalization Rates for Offices Sink to Low.  Weighing at at a whopping 4 lines, it’s almost hard to believe there is any useful data contained within.  Actually, there isn’t.

Although the explanation of capitalization rate – or “cap rate” – is handy for the beginning real estate professional, the quoted cap rate for central business district (CBD) office properties tells the reader absolutely nothing about which property types were considered, if it includes mixed-use buildings or only pure office towers, what they define as the CBD for the value quoted, or what the rate dropped from (historic values for the last month, quarter or year).  I’m sure that there are other things missing, but these immediately struck me as odd.  Seems like they were struggling to provide anything newsworthy, but the real estate analyst was out sick today.  It’s almost like if I commented on a short article about commercial real estate, simply to have provided my readers with a post for the day, without actually providing any insight or value to them.  Oh, wait…