President Joe Biden is halfway on the path to achieving the first major legislative victory of his administration, with the House of Representatives last Saturday passing its version of his proposed $1.9 trillion COVID relief bill, the American Rescue Plan, by a 219-212 vote. The vote on the bill was a highly partisan affair, with […]
Buoyed by changing social and technological trends and exacerbated by the COVID-19 pandemic, industrial real estate has evolved in recent years from a slow-moving and stable asset class to one with dynamism and rapid growth. That has drawn the attention of the largest and most opportunistic investors, including Blackstone, KKR, J.P. Morgan, AXA Investments PGIM, […]
Despite the severe economic downturn of 2020, the U.S. construction industry grew. Direct expenditures for building and nonbuilding construction climbed $51.7 billion to reach $1.4 billion for the year. Total jobs supported by construction grew by 400,000. And construction’s percentage of total U.S. GDP rose from 19.5% in 2019 to 21% in 2020. In the […]
Dusty parking codes and parking minimums have contributed to the creation of between three and eight parking spaces per car in the U.S., cost real estate developers untold billions of dollars, and caused gridlock in urban centers. But now, these decades-old rules may be in for a dramatic overhaul as parking demand drops as much […]
The Hawaii Senate is considering legislation that places a moratorium on commercial evictions. The legislation is similar to a bill, SB 939, that was introduced in California last year. Hawaii’s SB 563 would prohibit landlords from legal proceedings to evict or collect unpaid rent from commercial tenants that have been adversely impacted by the COVID-19 […]
U.S. demographics are becoming increasingly diverse. However, commercial real estate continues to lag, especially with representation in C-suite roles. At NAIOP’s 2021 Chapter Leadership and Legislative Retreat, Equality Institute CEO Bernadette Smith shared strategies to help real estate companies become more diverse and inclusive. The Next Generation Smith said companies must prepare for the arrival […]
The lack of a diverse workforce in commercial real estate is a critical issue facing the industry. In 2017, the Bella Research Group and the Knight Foundation conducted research showing that white men held more than 75% of C-suite jobs in the U.S. commercial real estate industry, while Black men held just 1.3% of those […]
In January, NAIOP conducted its seventh survey of its U.S. members on the impacts of COVID-19. Since April, the association has examined the pandemic’s effects on commercial real estate and how firms have responded. The four months since the last survey witnessed significant events, including federal elections and the FDA approval of two highly effective […]
NAIOP members had the opportunity to learn about the association’s legislative agenda and its priorities for 2021 during the virtual 2021 Chapter Leadership and Legislative Retreat, including specifics regarding what might await the industry on tax policy in the new presidential administration. Some of President Joe Biden’s proposals offered during his campaign for the White […]
Many municipal approval processes tend to be opaque and provide developers with limited information. To help address these issues, the NAIOP Research Foundation commissioned Distinguished Fellow C. Kat Grimsley, Ph.D. cantab, director of the Masters in Real Estate Development Program at George Mason University, to create a Development Approvals Index to evaluate the transparency, consistency […]