Filtered by category: Industry Clear Filter

Class A Buildings Push Office Market Stabilization

Office market vacancy rates kept surging for the 10th straight quarter to start 2022, according to the NAIOP Research Foundation. The group recently published its Office Space Demand Forecast for Q2 2022. You can read the full report here
Office building
The group boasted that Class A buildings are key in many parts of the country, bolstering net absorption rates in areas like the Sun Belt. These work spaces are key in brining in skilled employees. The group said "suburban markets and life sciences hubs are recovering better than the national average as more employers embrace a return to the office and the pandemic eases."

Other key takeaways mentioned 

  • Leasing activity is up year over year, which signals that firms are more comfortable making longer-term commitments to office space. Property owners have been willing to offer greater tenant improvements to encourage signing, indicating that tenants still have the upper hand in lease negotiations. These signals indicate a move toward a more stable equilibrium as the office market finds its balance.
     
  • Given these trends and signs of a slowing – but still growing – economy, net office space absorption in the remaining three quarters of 2022 is forecast to be 46.9 million square feet, essentially unchanged from the previous forecast for these quarters (46.6 million square feet).
     
  • Total net absorption in 2023 is forecast to be 47.3 million square feet, with an additional 6.5 million square feet absorbed in the first quarter of 2024.

Strategic Mobility Plan Out Thursday


UDO graphic

Thursday will mark the release of the Strategic Mobility Plan (SMP) draft. The public can access the May 19 meeting at this link.

The SMP’s goal is to shape the mobility future for the City of Charlotte and expand on the “Safe and Equitable Mobility” goal of the Charlotte Future 2040 Comprehensive Plan (2040 Plan). The SMP dives deeper into the mobility policies of 2040 Plan to achieve a safe, connected, equitable, sustainable, prosperous, and innovative mobility vision for Charlotte. To learn more, follow this link to the Strategic Mobility Plan homepage.

SMP Virtual Engagement Sessions will be live on Thursday, May 26 (6 p.m.) and Tuesday, May 31 (noon). Meeting links will be available by visiting charlottenc.gov/smp.

Additionally, you can sign up to share input during the public comment portion of the City Council Business Meeting on Monday, June 13, at 6 p.m.

UDO – Updates

On Wednesday, there will be a presentation on the findings related to the Economic Analysis of the draft UDO.


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A Conversation with the 2022 NAIOP Chair

 

originally published by KATHRYN HAMILTON, CAE for NAIOP National with permission to share:

Leadership Compass

In the Spring issue of Development magazine, I shared some of my views on NAIOP’s value to our members and what I’m looking forward to as the 2022 Chair. As I wrote that column, I found I had much more to say than space allowed! So, I’m sharing a bit more of the conversation with our Market Share blog readers. If you already haven’t, I’d invite you to read the At Closing column in the Spring issue of the magazine.

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Employers Continue Return-to-office Plans, Resulting in a 1.2% Increase in Office Listing Rates Year-Over-Year

 

originally published by IRINA LUPA for NAIOP National with permission to share:

Office Covid

Now that pandemic regulations have expired across the U.S., many companies are calling employees back to work. In the meantime, return-to-office techniques have changed dramatically in the last year, thereby ushering in a new era for the sector. In particular, the emergence of hybrid work arrangements has contributed to an increase in demand for high-quality office assets and has already widened the rate difference across classes in several markets.

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Reimagining the Post-pandemic Office

 

originally published by KATHRYN HAMILTON, CAE for NAIOP National with permission to share:

Office Pic

How we think about work and the workplace going forward has changed, explains Kristin Jensen, AIA, principal, and co-managing director, Gensler, in a new video. “Work” and “place” have been decoupled, and work can happen anywhere. Cubicle rows and private offices are replaced by open spaces and shared workstations used by different employees depending on the day of the week.

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A Compelling Argument for More Solar in CRE

 

originally published by BRIELLE SCOTT for NAIOP National with permission to share

Solar

Environmental, Social, and Governance mandates (ESG) are becoming a reality not only in large enterprise businesses but also in their entire supply chains. Forces from upstream as well as downstream, combined with pressure from stockholders, stakeholders, employees, and customers, are ushering in a new era where ESG practices are no longer considered optional.

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Commercial Real Estate’s Opportunity to Design a New Era of Human Experience

 

originally published by JANET POGUE MCLAURIN, AIA, FIIDA, NCIDQ, LEED AP  for NAIOP National with permission to share:

Office

 

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Ports to Trucks: Overcoming Supply Chain Challenges

 

originally pusblished by KATHRYN HAMILTON, CAE  for NAIOP National with permission to share:

Supply Chain

 

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A 1980s-Era Office Park is Reborn as Multifamily Housing

 

originally published by Mark Rivers for NAIOP National

Buildings

The future was bleak for Park Center, a 566,000-square-foot, three-building Class B- office park in Alexandria, Virginia, when it came to market in 2016. The property consisted of two 14-story office towers and one four-story building, half of which was occupied by a full-service fitness center. 

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NAIOP Insights: Future-proof Workplace in a Post-pandemic World

 

originally published for NAIOP National

NAIOP Insights

The challenges of the pandemic are changing how we think about work and the workplace going forward. "Work" and "place" have been decoupled, and work can happen anywhere.

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Cold Storage: Demand, Design and Drivers

 

originally published by  KATHRYN HAMILTON, CAE for NAIOP National with permission to repost. 

Cold Storage

The need for cold storage facilities has exploded as e-commerce sales and grocery delivery demands multiplied during the last few years. Most cold storage facilities primarily handle food preparation or transit as products move toward consumers, but they can also be used for pharmaceutical, floral and chemical needs, among others, and frequently require varying temperature zones all under one roof.

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The Drive for Transportation Electrification

 

originally published by TOBY BURKE for NAIOP National with permission to repost. 

Electric Cars

Governments at every level are considering polices to reduce greenhouse gas emissions from both stationary and mobile sources as part of efforts to address climate change. Some of these efforts have centered on initiatives to lowering domestic use on fossil fuels, such as coal, petroleum, natural gas and oil, by moving towards electric vehicles within our transportation system. According to the U.S. Environmental Protection Agency, the transportation sector is one of the highest sources of greenhouse gas emissions (29%) followed by electricity (25%).

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Charlotte Future 2040 Policy Map - RECOMMENDED FINAL DRAFT

 

originally published by City of Charlotte and shared with NAIOP. 

2040 Pic

Dear Charlotte Future 2040 Partners,

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NAIOP I.CON Preview: What’s Ahead for the Industrial Market?

 

originally published by Connect CRE and shared with NAIOP National

The COVID-19 pandemic changed all our worlds two years ago this month when full-scale shutdowns weighed heavily on the economy and Americans recalibrated their approaches to work and life. Since then, industrial real estate has continued to shine as commercial real estate’s darling – fueled by soaring demand, rising rental rates, and record levels of investment and development activity.

Industrial real estate professionals from across North America will gather in Long Beach, California, on March 23-24, for NAIOP’s industrial conference. Keynote session panelist Dwight Merriman, Partner and Head of Industrial in the Real Estate Group of Ares Management Corporation, sat down with Connect CRE to preview his keynote session: an executive outlook on the future of industrial real estate.

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A New, Turbulent Era for Real Estate Supply Chains

 

originally published by  for Propmodo and shared with NAIOP National

Background Pic

If we’re looking at the effects of the broken supply chain on commercial real estate, it’s best to start at the beginning. And it all begins with the onset of the pandemic and its impact on manufacturers. Michigan Maple Block Company is a good example. On March 24, 2020, the Michigan Maple Block Company furloughed most of its 56 workers at its plant in Petoskey, Michigan.

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Seeing Past the Pandemic: Industrial Demand and U.S. Seaports

 

originally published by Brian Harper, Director of Data Science, Avison Young, and Aaron Ahlburn, Innovation Lead, Global Logistics, Avison Young for the NAIOP Research Foundation

NAIOP Research Pic

Supply chain disruptions have never been more salient to the average consumer. Congested seaports have received particular attention as record levels of inventory have piled up at ports and ships have been stuck offshore waiting to unload. While low levels of vacancy indicate robust current demand for industrial assets, developers, investors and building owners may wonder how closely industrial demand is tied to port activity and whether the current boom is sustainable.

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Medical Office Buildings Remain Resilient Amid National Vacancy Trends

 

originally published by IRINA LUPA for NAIOP National with permission to repost

Medical Office pic.

As two tumultuous years closed for the office sector and return-to-office plans were upended by new variants and case surges, millions of workers remained in remote or mostly remote setups. And, while the average office vacancy rate climbed across top U.S. markets, one segment continues to show resiliency: medical office buildings (MOBs).

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New Uses for Office Buildings: Life Science, Medical and Multifamily Conversions

 

 

originally published by Emil Malizia, Ph.D., CRE for NAIOP Research Foundation

NAIOP Research Pic

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Participate in the 2022 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey

 

originally published for NAIOP National

NAIOP is again partnering with CEL & Associates, Inc. to compile the 2022 NAIOP/CEL Commercial Real Estate Compensation and Benefits Survey. A nationally known real estate advisor, CEL has conducted this survey – the largest in the industry – for 33 consecutive years.

This valuable survey is the national standard allowing commercial real estate businesses to stay current on salaries, bonuses and benefits for CRE professionals from executives to entry-level positions. Each company that responds to the survey will receive a complimentary electronic copy of the full comprehensive survey report – a $2,750 value!

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Industrial Real Estate Opportunities in U.S. First-Mile Markets

 

originally published by TJ Parker for NAIOP Research and Publications

Boxes and Belt Picture

Industrial remains the darling of commercial real estate during the current cycle. Investor enthusiasm has remained strong, with total returns as measured by the National Council of Real Estate Investment Fiduciaries (NCREIF) in double-digit territory over the past cycle and demand showing no signs of slowing, especially as supply chain issues remain a crucial consideration for businesses and real estate developers. While last-mile industrial has been the focus of much of this investment, first-mile industrial is starting to attract attention. 

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