“Less than 2% of industrial space today is cold storage, and it probably needs to be at 15%. We’re not even in the first inning,” opened economist KC Conway in a keynote session at NAIOP’s I.CON Cold Storage. Using the analogy of peeling back an onion, Conway identified four cold storage and capital markets “layers” to “see what makes us sweat and what makes us cry.”
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.”
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.
To help Gen Zers identify cities that align with their priorities, CommercialCafe analyzed major U.S. cities across a variety of key metrics. These included the Gen Z population share, educational attainment, affordability, eco-friendly commuting and park density. The results of this analysis created a comprehensive guide for Gen Zers who are looking for a city that values community, cost-effectiveness and sustainability.
The slow recovery of the U.S. economy continues to have an impact on the office market in Seattle as well as across the county. Despite steady job growth and moderate economic recovery gains during the first half of 2023, the Puget Sound regional economy is still struggling and will face continued headwinds during the near term, bringing an enduring sense of uncertainty and concern.
August has arrived, which for Capitol Hill means that Congress is in recess until sometime in September. However, Congress left town last Friday with little agreement on a path forward for must-pass appropriations bills to keep the federal government operating past the start of the new fiscal year on Oct. 1.
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.
“Volatility and uncertainty” describe the current state of the markets, according to Tom Griggs, managing director and head of industrial & logistics for the East at Hines, with the past 12-18 months presenting a difficult environment. Griggs led an expert panel discussion on the outlook for the industrial real estate capital markets at NAIOP’s I.CON East.
A panel of experts dove into all things supply chain at I.CON East: The Industrial Conference, including the supply chain’s latest impact on industrial demand, trends in retail warehousing, competing ports, and more.
