This week at NAIOP’s I.CON East: The Industrial Conference, four experts in the space shared their thoughts on how corporate real estate of the future will integrate the evolving trends of sustainability and automation so that owners can meet carbon reduction and Environmental, Social and Governance (ESG) goals, exceed tenant specs, future-proof their properties and increase NOI.
A qualified, sustainable, and happy workforce is key to tenant success and exceedingly difficult to attain in today’s labor market. Speakers at I.CON East discussed effective practices for attracting, training and retaining workers at industrial facilities.
Environmental, Social and Governance (ESG) and decarbonization initiatives can yield significant advances across the industry, from the important climate benefits to improved investor and community relations. While these are not new concepts – the first solar panels date back to 1954 – they are fresher to commercial real estate as owners and developers as they evaluate how to retrofit existing properties and incorporate elements of sustainability into their projects.
“We’ve been modeling for the U.S. to enter recession this quarter for the last year now,” began Dana M. Peterson, chief economic and center leader for economy, strategy and finance at The Conference Board, to a sold-out audience in a keynote at NAIOP’s I.CON East this week in Jersey City, New Jersey. She explained what a recession would look like, emerging economic trends, and their implications for industrial real estate.
The NAIOP Research Foundation, as part of its Industry Trends meeting, recently hosted a panel discussion on what’s next for the office sector. The panelists agreed that the sector will undergo a shakeout that will include transformation, streamlining, new approaches to work and holistic solutions.
Recent years brought new stresses on the construction industry – COVID-19 shutdowns, supply chain woes, labor shortages and bank failures have slowed projects or put them entirely on hold. At the same time, the cost of capital has risen considerably.
California’s Title 24, the state’s energy code, has required solar for all low-rise multifamily projects since 2016, but new provisions have gone into effect this year, impacting any projects permitted since Jan. 1, 2023.