Building information modeling, or BIM, is one of the most powerful tools developers can use to reduce risk and ensure the profitability of their investments. BIM not only allows for better planning and project design, but also facilitates collaboration, communication, efficiency and ongoing asset management.
The office space market is facing a new reality in 2024: lower demand and a need for adaptation. While new construction shrunk by 28% compared to last year with 97 million square feet currently under development nationwide, there’s an interesting twist: Cities are responding by converting unused offices into other uses, such as housing.
In the ever-changing world of construction, creative solutions are key to moving projects forward. In an industry where tradition can take precedence over innovation, it’s important for general contractors to regularly challenge the norm; doing so can uncover modern insights that reshape the way we build the communities where we live and work.
In a study analyzing the current state of industrial real estate construction and the current pipeline, CommercialCafe highlighted which markets have the most industrial space underway, as well as the largest projects slated for completion in 2024.
The potential for artificial intelligence (AI) to transform businesses, industries and society has been mounting for decades, but recent advancements have moved the science from niche to mainstream. The technology’s proficiency in writing, drawing, coding and composing has driven corporate leaders to consider both the opportunities and threats that AI presents for their future. For commercial real estate, it’s clear that strategically embracing AI could transform the sector.
To achieve deadlines and stay within budget, developers must generate solutions to the industry dilemma of rising construction costs. Examine what’s driving construction spending, how these costs are impacting developers and solutions for maintaining development momentum.
There are real benefits for CRE companies to leverage supplier diversity programs and develop a network that includes woman-owned and minority-owned suppliers, particularly in recent years, when CRE projects have faced labor and materials shortages.
Commercial real estate leaders who are looking to reduce the greenhouse gas emissions associated with the construction of new industrial buildings can make use of new measurement tools, data and information. While the steps to lowering the embodied carbon footprint of a project or portfolio are simple, they are not necessarily easy.
Construction projects have many moving parts, stakeholders and dependencies. If money doesn’t flow smoothly from lender to borrower, a project can quickly become delayed. Because construction loans are funded in increments, rather than all at once, managing draws are of the utmost importance.
Cold storage is a niche asset class with relatively few players compared to traditional industrial space. To share their perspectives on how investment, development and operational decisions are made for this specialized asset class, five experts took the stage at NAIOP’s I.CON Cold Storage this week in Atlanta.
