Commercial real estate listing service 42Floors set out to determine the metro areas where entrepreneurs had the best chances of turning their business idea into reality.
Preview what to expect at the 2023 I.CON events: I.CON West on March 8-9 in Long Beach, California, and I.CON East on June 7-8 in Jersey City, New Jersey. “We have designed I.CON to give our peers the maximum benefit in the minimum amount of time,” said I.CON Committee Chair Celeste Tanner.
As the calendar turns to 2023, what’s ahead for the commercial real estate field? We talked to several NAIOP Distinguished Fellows and Research Foundation Governors to get their forecasts for the next 12 months.
Although many in the industry had assumed that the office market would stabilize in 2022 – and perhaps even begin to recover pandemic losses – this stabilization did not occur. Rather, wider economic changes; repeated interest rate increases by the Federal Reserve; the further establishment of work-from-home and remote office arrangements; and increasing numbers of office footprint reductions by businesses caused vacancy rates to continue to rise throughout the year, according to the latest CommercialEdge report.
The JLL 2022 Life Sciences Research Outlook and Cluster report reveals the critical trends shaping the industry, and developers should take note of some key takeaways that could inform development strategy in 2023.
“We cannot possibly talk about the overall economy without first discussing inflation,” opened Michael Seiler, DBA, during a NAIOP webinar this week. Seiler and Hany Guirguis, Ph.D., author the NAIOP Office Space Demand Forecast.
With remote work in play, the office needs to provide employees with a value proposition that invites them in. In JLL’s 2022 Future of Work Survey, 77% of companies said that they are investing in quality office space to incentivize employees to work from the office. Our research forecasts a flight to quality over the next three years, calling it “a clarion call for employees to take action” – and companies are willing to pay extra for it.
