Read the full list of what captured the attention of industry professionals this year on Market Share, the official blog for commercial real estate.
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Although many in the industry had assumed that the office market would stabilize in 2022 – and perhaps even begin to recover pandemic losses – this stabilization did not occur. Rather, wider economic changes; repeated interest rate increases by the Federal Reserve; the further establishment of work-from-home and remote office arrangements; and increasing numbers of office footprint reductions by businesses caused vacancy rates to continue to rise throughout the year, according to the latest CommercialEdge report.
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“We cannot possibly talk about the overall economy without first discussing inflation,” opened Michael Seiler, DBA, during a NAIOP webinar this week. Seiler and Hany Guirguis, Ph.D., author the NAIOP Office Space Demand Forecast.
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With remote work in play, the office needs to provide employees with a value proposition that invites them in. In JLL’s 2022 Future of Work Survey, 77% of companies said that they are investing in quality office space to incentivize employees to work from the office. Our research forecasts a flight to quality over the next three years, calling it “a clarion call for employees to take action” – and companies are willing to pay extra for it.
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Converting existing buildings to new uses is a growing trend in commercial real estate. A session during NAIOP’s CRE.Converge 2022 in Chicago this week profiled three projects that provide valuable insights into successful conversions. The Curtis, Philadelphia In 2014, Keystone Development acquired The Curtis, an iconic […]
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Two and a half years into the COVID-19 pandemic, the office sector is still experiencing high vacancy rates and declining listing rates. Coworking spaces, on the other hand, are making a comeback after seeing their usage swiftly drop with the onset of the pandemic. As office-using […]
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Remote work has become the norm for many employees since the beginning of the COVID-19 pandemic, with no indication that full-time office attendance will return anytime soon – if ever again. The ongoing labor shortage compels companies to adapt their work-from-home policies to recruit and retain […]
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From an early age, Alexandra Stoelzle, a recipient of the 2021 Developing Leaders Award, found herself fascinated by the built environment. She decided to pursue that passion in college and graduate school, including with an internship in marketing and development at Kilroy Realty Corporation before joining […]
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At NAIOP’s I.CON East: The Industrial Conference in Jersey City, New Jersey, a sold-out crowd of over 1,000 industrial real estate professionals gathered to hear from experts leading the sector on supply chain challenges and solutions, capital markets, reverse logistics and more. In a panel discussion […]
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Despite widespread predictions that the COVID-19 pandemic would put an end to office buildings, construction has persisted — albeit at a reduced rate. While ground was broken on 86.4 million square feet of new supply in 2019, the number dipped to 58.4 million in 2020 and […]
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