CommercialEdge: Office Starts Slump in Gateway Markets, Advance in Sunbelt
- November 11, 2022
CommercialEdge's October office report explains that office starts slumped in gateway markets, but advanced in the Sunbelt.
As much of Chicago’s office market struggles to regain its footing, the booming life sciences and biotech industry is poised to change the landscape in and around the downtown core. The fundamental problem is the lack of research and development and lab space to keep up with the demand. Hazel Technologies – a USDA-funded agricultural […]
People who usually worked in offices adjusted quickly to hectic home environments and makeshift workspaces during the COVID-19 pandemic. Now, surveys show that they’re satisfied to leave commutes and cubicles behind for good – or at least for most of a traditional work week. And that’s left a lot of once-bustling office space empty as […]
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 12-story office building in Philadelphia, with the goal of […]
While some economic indicators, including employment numbers, consumer confidence and inflation appear to be trending positively, the commercial real estate market is still contending with the challenges of the past two years. The once-booming office sector in Chicago and the surrounding suburbs was hit particularly hard; many companies have been slow to transition employees back […]
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 business sectors adopt long-term work-from-home and hybrid models, coworking […]
A decade ago, it was hard to imagine the concept of a smart building or how it would transform the commercial real estate landscape. Today, smart building technology has gained popularity in a variety of commercial spaces. Some advantages of smart building development include: Reduced costs related to maintenance and energy consumption. Reduced amount of […]
Since the start of the pandemic, sleepy small towns and suburbs have taken on new luster as people have migrated en masse from the urban core, drawn by the lower cost of living and with the flexibility afforded by increased remote work options. Will this be the new normal, or will people move back to […]
