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.
If real estate developers overlook or fail to adequately engage with a community’s unique needs and historical context, the effects can be deleterious. The most effective developments get to the heart of resolving economic disparities and transforming lives. These developers treat community members as true partners, not bystanders or obstacles. Even for developers with the best intentions, this is easier said than done.
Can you build a business through a crisis and still come out on top? CRE.Converge keynote Barbara Corcoran, the real estate mogul behind The Corcoran Group and star for the past 14 seasons on ABC’s four-time Emmy award-winning show “Shark Tank,” survived three recessions and knows the ins and outs of weathering the storm.
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.
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.
When he first joined NAIOP, Nicholas Kitaeff, a recipient of the 2022 Developing Leaders Award, was eager to connect with and learn from fellow professionals in commercial real estate. He found NAIOP membership to be a “transformational milestone” in his career advancement and soon discovered ways that he could invest his time and expertise to build up other young leaders in the industry. While his colleagues note his remarkable passion, strong leadership and deep commitment to successful real estate development, his contributions to the NAIOP Colorado mentoring program stand out as exceptional achievements.
With Federal Reserve Chair Jerome Powell indicating that the Fed will continue to raise interest rates through the end of the year and into 2023, traditional capital providers with strained balance sheets are pulling back on lending. And given the current economic outlook, many senior warehouse line lenders may also look to pull back on financing, opening the door for a more direct asset-by-asset approach. As a result, borrowers need to seek out alternative lenders that creatively finance their projects – enter nontraditional lenders and loan-on-loan financing partners.
Stormwater management considerations are a vital part of the site selection and development process – and can impact the long-term value of a property. In fact, the majority of land development projects over one acre require a stormwater management system so it’s important to understand the available options as well as their pros and cons.
Artificial intelligence, virtual reality, the Internet of Things… all trending technologies that are showing up everyplace from online shopping recommendations
How does the labor supply impact investment, site selection and development at a time when workers have become more of
