Commercial real estate listing service 42Floors set out to determine the metro areas where entrepreneurs had the best chances of turning their business idea into reality.
Preview what to expect at the 2023 I.CON events: I.CON West on March 8-9 in Long Beach, California, and I.CON East on June 7-8 in Jersey City, New Jersey. “We have designed I.CON to give our peers the maximum benefit in the minimum amount of time,” said I.CON Committee Chair Celeste Tanner.
The spectacle put on by the new Republican majority in the House of Representatives in trying to choose a speaker this week clearly shows that nothing will be a sure thing in this Congress. Of course, we will continue advocating for the interests of the commercial real estate industry no matter what the political terrain may be in Congress.
As the calendar turns to 2023, what’s ahead for the commercial real estate field? We talked to several NAIOP Distinguished Fellows and Research Foundation Governors to get their forecasts for the next 12 months.
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.
While the primary focus of the national media during the 2022 election may have been on a potential “red wave” for control of the U.S. Senate and House of Representatives, there were over 6,200 state legislative races in 46 states. The outcome of these state races has significant impacts on core policy issues of importance for commercial real estate, such as taxes, regulations and economic development.
The JLL 2022 Life Sciences Research Outlook and Cluster report reveals the critical trends shaping the industry, and developers should take note of some key takeaways that could inform development strategy in 2023.
