Cross-Cutting Tools

Market Memo Generator

Generates structured CRE market research memos covering MSA, submarket, and sector-level conditions.

Open GitHub source

No packaged download — skills install from the open-source plugin repo. Read the SKILL.md and bundled files below before you install.

How to install a skill →
01 · Problem

Generates structured CRE market research memos covering MSA, submarket, and sector-level conditions.

Derived from the skill’s “Skill description” section.

02 · Who & When

Trigger on any of these signals:

  • Explicit: "write a market memo", "market update for [city/submarket]", "what's happening in [market]?", "submarket analysis", "market conditions for [property type] in [location]", "capital markets update", "where are cap rates?"
  • Implicit: user is underwriting a deal and needs market context for growth assumptions; user is preparing an IC memo and needs the market overview section; user is evaluating whether to enter or exit a market; user asks about rent trends, absorption, supply pipeline, or cap rate movement in a specific geography
  • Upstream signals: deal-quick-screen or deal-underwriting-assistant needs market rent and cap rate benchmarks; acquisition-underwriting-engine needs growth assumptions and cycle positioning; disposition-strategy-engine needs market timing context; ic-memo-generator needs the market overview section
  • Portfolio context: user is evaluating geographic allocation and needs market-by-market comparison

Do NOT trigger for: REIT-specific company analysis (use reit-profile-builder), property-level rent roll or comp analysis (use comp-snapshot or rent-roll-analyzer), construction cost estimation (use construction-cost-estimator), or general economic commentary without CRE property type focus.

Derived from the skill’s “When to Activate” section.

03 · How It's Done Today

Not documented yet for this skill.

04 · What This Skill Changes

Section 1: Executive Summary (5-7 bullets, lead with the verdict)

Section 2: MSA Economic Overview

Section 3: Supply Analysis (Pipeline, Deliveries, Entitlement Environment)

Section 4: Demand Fundamentals (Absorption, Occupancy, Tenant Activity)

Section 5: Rent & Pricing Analysis (Asking, Effective, Growth, Affordability)

Section 6: Cap Rate & Transaction Activity

Section 7: Capital Markets Conditions (Debt, Equity, Spreads)

Section 8: Forward-Looking Signals (Leading Indicators)

Section 9: Investment Implications (Cycle Position, Strategy Recommendations, Risks)

Appendix A: Data Sources and Dates

Appendix B: Comparable Market Benchmarks (if comparable_set provided)

For submarket_brief: compress to Sections 1, 3, 4, 5, 6, and 9. For sector_update: compress to Sections 1, 4, 5, 6, 7, and 8. For capital_markets_update: compress to Sections 1, 6, 7, and 8.

Derived from the skill’s “Output Format” section.

05 · Risks & Caveats
  • Supply exceeding absorption: Pipeline deliveries outpacing net absorption for 2+ consecutive quarters. Pressure on occupancy and rent growth is mathematically inevitable. Calculate the quarters of excess supply at current absorption rates.
  • Rising sublease inventory: Sublease space growing as percentage of total availability signals future direct vacancy. Sublease is typically offered at 15-30% discount to direct, which also pressures overall effective rents. Track the absolute level and the rate of increase.
  • Cap rate decompression: Cap rates expanding faster than interest rates are rising, indicating a repricing of risk beyond the rate movement. Could signal deteriorating property fundamentals, not just rate-driven repricing.
  • Negative rent growth: Nominal rent declines signal a supply/demand imbalance that may take 2-4 quarters to correct. Distinguish between asking rent declines and net effective rent declines (concession-driven softness may precede asking rent cuts).
  • Major employer contraction: A top-5 employer announcing layoffs, relocation, or closure. Quantify the direct employment impact and the multiplier effect on supporting industries and housing demand.
  • Rising insurance and property tax costs: Insurance premium increases (especially in coastal/disaster-prone markets) and property tax reassessments can erode NOI growth even when rents are increasing. Calculate the NOI growth rate net of these cost increases.
  • Regulatory headwinds: Rent control legislation, building performance standards (LL97 in NYC, BEPS in DC, BERDO 2.0 in Boston), or restrictive zoning changes that impact operating costs, development feasibility, or property values. Quantify the compliance cost and timeline.
  • Liquidity deterioration: Transaction volume declining more than 30% year-over-year, bid-ask spreads widening, or deal-to-listing ratios falling below 20%. Indicates price discovery is breaking down and assets may be mispriced in either direction.

Stale-data note: Market data is inherently time-sensitive. Employment figures, rent surveys, transaction volumes, and cap rates cited here reflect the most recent available data as of the analysis date. Always cross-reference CoStar, CBRE-EA, Green Street, or other institutional data sources for current figures before using in IC memos or investment decisions. Construction pipeline data can shift quarterly as permits are filed and projects break ground or stall.

Derived from the skill’s “Red Flags & Failure Modes + stale-data note” section.