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.
NAIOP’s industrial conferences are known for exceptional information from leading experts in
addition to invaluable networking. Read on for key takeaways from I.CON Cold Storage 2023, NAIOP’s
first cold storage conference.
Every industry is being challenged to reduce greenhouse gas emissions, especially with the U.S. government’s commitment to combat climate change and increase funding for these efforts. The construction industry has a considerable impact on global greenhouse gas emissions primarily due to its significant contributions to operational and embodied carbon, accounting for 28% and 11%, respectively, of total emissions.
Industrial refrigeration systems are arguably the most critical component of a refrigerated warehouse facility. The industry has evolved significantly over the past decade, and the options are vast when planning a new project or upgrading an existing system.
Understanding the many types of cold storage and controlled environments – food and beverage processing; food distribution; and public refrigerated warehousing – along with a plethora of product-specific terminologies, is the first step in diving into the world of its development. But there is much more to explore to understand the nuances of this sector.
At I.CON Cold Storage, attendees had the opportunity to hear from four very different cold storage end users who shared their decision-making criteria, key priorities and needs for cold storage facilities today. “Cold storage is far from a catchall,” noted Chris Cummings, partner with OnPace Cold. “There’s a ton of variability in terms of temperatures, design, layout and requirements for each user.”
Electric vehicle (EV) use is accelerating, and commercial real estate owners can reap significant benefits from installing EV charging infrastructure at their properties. A recent NAIOP webinar explained how EV charging station implementation can attract and retain tenants, improve the property’s environmental score and generate new revenue streams.
In the post-pandemic office market, the “flight to quality” trend among tenants has been growing alongside increased demands for sustainability. Consequently, demonstrating to clients that a property is equipped with the latest in energy-saving technologies and smart materials is the new standard. And, increasingly, clients are looking beyond their office windows to take a more holistic approach to sustainability, considering factors such as the city’s commitment to reducing carbon dioxide emissions, plans to build electric vehicle infrastructure or the stringency of local building policies.
In a recent NAIOP webinar, Gensler Principal Steven Paynter, OAA, ARB, explored the firm’s data-driven process for analyzing underused office spaces and determining how to transform them into vibrant and livable residential buildings.
“[Artificial Intelligence] won’t replace real estate people. AI will replace real estate people who don’t have AI,” said Itay Ron, senior president of Northeast markets at Faropoint at the I.CON East conference this week in Jersey City, New Jersey. “Right now, we are reaching an inflection point where you can easily use data for commercial real estate,” Ron continued, discussing the state of artificial intelligence technology and how commercial real estate professionals can utilize AI in their investments.