Originally published on October 12, 2022, by Ed Finkel for NAIOP.
Supply chain, logistics and transportation play a major role in site selection for industrial real estate, which has been disrupted along with many other economic sectors by the COVID-19 pandemic but remains in a strong position overall, said Adam Roth, CCI, SIOR, executive vice president of NAI Hiffman, at CRE:Converge 2022.
Originally published on October 12, 2022, by Ian P. Murphy for NAIOP.
Pressure to satisfy environmental, social and governance (ESG) goals among companies in the commercial real estate sector has intensified during the COVID-19 pandemic, according to panelists at CRE.Converge.
Originally published on October 12, 2022, by Matt Baron for NAIOP.
Midway into a panel discussion at CRE.Converge, a quip about the Federal Reserve behaving like a novice teenaged driver – “way too much gas, way too much brake, way too much gas” – drew laughter from many attending the jampacked session. But palpable nervousness tinged those chuckles at the metaphor by moderator Bart Johnson, president, and CRE market head, of Wintrust Bank.
Originally published on September 28, 2022, by Dan Berthiaume for Chain Store Age.
Walmart is debuting a proprietary supply chain automation system in its new high-tech fulfillment center.
Originally published in the Fall 2022 Issue of NAIOP's Development Magazine by Plabo J. Quintana.
The modern office is in the midst of a transformation. With most knowledge workers opting out of the traditional five-day-in-office workweek in search of flexibility and hybrid work solutions, the shape, size and focus of the future office is rapidly changing.
Originally published in the Fall 2022 Issue of NAIOP's Development Magazine.
The Morton Salt Company warehouse on Elston Avenue in Chicago once furnished tons of preservative salt for the city’s tanning industry. Today it is itself preserved — a city landmark in the process of rebirth as a concert venue combined with commercial and office space.
The Transportation, Planning, and Development Committee held its first meeting of the new council term and reviewed its charge and procedures. Members of the Committee, along with Mayor Pro Tem Braxton Winston who also attended, heard several presentations from planning staff that included:
To view the full agenda and video, click the links below:Originally published in the Fall 2022 NAIOP Development Magazine by Ron Derven.
Since its founding in Dallas in 1991, Granite Properties has understood the impact of real estate developments on people and communities. That’s why it creates spaces and relationships where people can flourish while supporting local communities.
Inflation is expected to remain around 8% for August according to Bloomberg. While this may be slightly lower than the 8.5% consumer price index recorded in July, the continued rise in inflation from a year ago increases the cost of providing and maintaining government programs and services at the local level. The National League of Cities has reported that cities are using federal pandemic relief funds to address the impact of inflation.
Originally published on September 20, 2022, by Maria Gatea for NAIOP Blog.
E-commerce provides easy access to goods with the click of a button, filling homes with stuff, stuff and more stuff. Meanwhile, the trendy minimalist lifestyle emphasizes only keeping what is needed and eliminating everything else. Where does the average American end up on the spectrum of goods ownership? As it turns out, among apartment renters, one in five uses self-storage to manage their belongings, at least temporarily.
Originally published by Jenna Glick in the Summer 2022 Issue of NAIOP's Development Magazine.
The lack of diversity in the commercial real estate industry has been under increased scrutiny for the past few years. Some of the largest companies in global real estate made it a priority, such as Blackstone appointing a global head of diversity, equity and inclusion (DEI) in June 2021 and CBRE hiring a chief responsibility officer in 2020. Cushman & Wakefield named its first chief DEI officer in December 2020, and JLL expanded its internal team dedicated to DEI initiatives.
Originally published in September 2022 by Christopher De Sousa, Ph.D., MCIP, RPP, Professor, School of Urban and Regional Planning, Toronto Metropolitan University for NAIOP.
Former industrial sites and other properties that may be contaminated — commonly called brownfields — can be found across the United States and Canada. Brownfields are often adjacent to well-developed transportation infrastructure, and many are near urban centers. These locational advantages make many brownfields viable targets for redevelopment to new uses, but the costs and risks associated with environmental remediation often make these redevelopment projects impossible without public financial and regulatory support. For this reason, public-private partnerships involving multiple levels of government, nonprofit organizations and private developers have played a prominent role in brownfield redevelopment. Public support for these projects has long been tied to achieving social and economic goals such as increasing employment, revitalizing communities and strengthening local real estate markets. In recent decades, public-private partnerships have also prioritized environmental objectives, from green building design to renewable energy and ecological revitalization.
Originally published by Robert Dunphy in the Summer 2022 NAIOP Development Magazine Issue.
The COVID-19 restrictions that began in March 2020 led to business closures and a sharp cutback in personal travel that caused demand for parking to plummet. Except for curbside pickup of retail purchases and carry-out meals, most travelers stayed home and avoided commercial and private parking lots and on-street spaces.
Growing convergence between the retail and distribution sectors could have profound impacts on the commercial real estate industry. As retail and industrial clients adjust to shifts in consumer behavior and the overall economy, CRE professionals will be challenged to change their thinking about how to truly serve their clients. That challenge, however, could also produce innovative real estate products and new opportunities. That’s according to Dustin C. Read, Ph.D./J.D., author of the NAIOP Research Foundation report, “New Places and New Spaces for E-commerce Distribution: Three Strategies Bringing Industrial and Retail Real Estate Closer Together.”
What was the most interesting or significant discovery you made while researching the paper?
Industrial properties are often built near neighborhoods, but that isn’t always popular with the residents, who have legitimate concerns about noise, traffic and pollution from the increased volume of trucks and vans.
Originally published on September 6, 2022 by Patrick Sisson for Bisnow National.
Women in commercial real estate, particularly those in the upper echelons of management, have made gains when it comes to equity and pay parity in the workplace, but talent pipelines, mentorship and diversity in leadership ranks still leave something to be desired.
Originally published on September 3, 2022 by Rebecca Picciotto for the Wall Street Journal.
Affordable-housing developers nationwide are stalling work on new projects, delaying thousands of units from coming to market when the U.S. already has a broad deficit of low-income housing.
On Nov. 8, Gastonia residents will vote on a $75 million Transportation General Obligation Bond Referendum. The City Council approved the bond referendum at its Aug. 2 meeting.
Proposed projects include:
Dangerous chemicals and infectious diseases are among the many hazardous materials that are handled inside life science facilities. Getty ImagesLife science industries span a range of uses — clinical research and trials; biologics; medical devices; pharmaceuticals; vaccines research, development, manufacturing, and distribution; plant and animal technology; and veterinary products, to name just a few. Leases for life science facilities can present unique challenges and considerations for building owners. Besides the particular demands life science uses place on electrical capacity, HVAC, floor loads, and waste removal, the activities within these facilities can pose many other risks.
Inherent in many life science facilities is the utilization, storage, and/or distribution of hazardous or toxic materials under applicable environmental laws. Of course, most common leases will contain standard indemnification clauses allocating responsibility to the tenant for losses resulting from its activities.
Two and a half years after the pandemic began, the short-term future for the office sector remains uncertain, with record vacancy rates adding to the industry’s woes, according to a recent office report from CommericalEdge. And as hybrid and work-from-home business models continue to take hold — and rising inflation rates further deter workers from returning to traditional office settings — the sector’s long-term prospects are also murky.
The average full-service equivalent listing rate in the top 50 U.S. office markets was $37.58 per square foot in June — up two cents from the previous month, but down 2.6% from the previous year.
