Originally published by Mark Heschmeyer on December 12, 2022, for CoStar News.

Any increase in a key measure of office demand in 2023 isn’t likely to occur, according to the latest projections from the commercial real estate association, NAIOP.

Originally published on December 9, 2022, by Mike Cavanaugh and Scott Waddell for BDCNetwork.com

While new construction allows for incredible levels of customization, there’s no denying that new buildings can have adverse impacts on the climate, budgets, schedules, and even the cultural and historic fabrics of communities. While any responsible architect will design buildings to minimize these impacts, there is no avoiding them entirely.

Originally published by NAIOP E-Newsletter on December 13, 2022. 

Senate budget negotiators were at an impasse last week with a Dec. 16 deadline looming for passing a spending measure that would keep the government funded. Indications are that bipartisan negotiations will continue, however, after Democrats delayed introducing their own partisan omnibus funding legislation. Senate Appropriations Committee Chairman Patrick Leahy (D-VT), the lead Senate negotiator, stated that he was holding off the introduction of an omnibus appropriations bill because progress in bipartisan talks had been made over the weekend.

Executive Committee 

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Originally published in NAIOP Research Foundation's Fourth Quarter 2022 Report. 

Absorption Will Continue to Slow into 2023 Amid Economic Uncertainty

The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2022.

Key Takeaways:

• Office market vacancy rates rose to 17.1% in the third quarter of 2022 as the completion of new space outstripped net absorption. This marks the highest vacancy rate since the third quarter of 1993.
• Class A buildings continue to outperform the rest of the sector as tenants migrate to spaces that offer more flexible layouts and modern amenities.
• Leading economic indicators and an inverted yield curve point to the growing risks of a recession in 2023. Occupiers are growing more cautious, opting to sublease space, and choosing smaller footprints when leases come up for renewal.
• Given these trends, net office space absorption in 2023 is forecast to slow to only 8.1 million square feet for the full year, following an absorption of 7.1 million square feet in the fourth quarter of 2022.
• Absorption is forecast to rebound in the first three quarters of 2024 to a total of 13.3 million square feet.
  
  

View Full Report

Originally  published on November 15, 2022, by NAIOP.

NAIOP’s valuable 60-page e-book, “Rules of Thumb for Distribution/Warehouse Facilities Design, Second Edition,” allows you to gain a step up in today’s competitive marketplace. The e-book includes detailed instructions and diagrams on everything from site planning to floor slabs. Members save 50% off the list price!

Originally published in October 2022, by Clifford A. Lipscomb, Ph.D., MRICS for NAIOP.

Industries are rapidly evolving as business processes grow more interconnected and automated. Data and analytics play an important role in information technologies and their interaction with the physical world, including emerging fields such as artificial intelligence, the Internet of Things (IoT), and virtual and augmented reality. Although commercial real estate (CRE) has been slower than other industries to adopt data analytics, some firms have identified several ways that data analytics can support land and building development and contribute to better project outcomes.

Originally published in NAIOP Development Magazine Fall 2022 Issue by Mansoor Ghori.

This rapidly growing alternative funding method can help developers meet a wide range of goals.

New financing vehicles can take time to achieve market acceptance, but with more than $3 billion in transactions since its inception more than 10 years ago, Commercial Property-Assessed Clean Energy (C-PACE) funding is now a go-to green finance alternative for many owners, investors, and developers.

Students receive credit towards earning their certificate through core classes presented by the NAIOP Center for Education. So whether you want to enhance the value of your current career track or to increase your credibility in transitioning to a new career goal or area of interest, consider the professional benefits and competitive edge you'll gain by earning your NAIOP Certificate of Advanced Study.

Commercial real estate professionals wanting to advance their careers by earning their certificate can focus their efforts on either the development or finance tracks by pursuing a Certificate of Advanced Study in Commercial Real Estate Development or a Certificate of Advanced Study in Real Estate Finance.

Members of Congress returned this week after midterm elections delivered results surprising both political parties. With President Joe Biden’s approval ratings hovering in the mid-40% range and inflation as the top issue for a plurality of voters, there was widespread expectation that the Republican party would easily regain the majority in the House of Representatives and possibly the Senate.

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On Monday, November 7th, the Charlotte City Council held a marathon day of meetings.  Two of the committees held discussions on topics of significant interest to the real estate industry.  To catch up on anything you may have missed, please click on the information links below:

Transportation, Planning, and Development Committee - Agenda, Video

(Presentations)

• Housing and Jobs Summit Planning
• Charlotte Transportation Center Update
• Lynx Silver Line Light Rail

Housing, Safety, and Community Committee - Agenda, Video

(Presentations)

• Housing and Jobs Summit Planning
• Development Fees for Affordable Housing

View the Nominating Committee's recommendation for the 2023 Board of Directors. The slate will be voted on at the 2022 Annual Meeting on November 30.

Executive Committee

President
Steve McClure, The Spectrum Companies

Live Web Event on 11/15/2022 at 2:00 PM (EST)

This webinar will provide members with an update on recently enacted legislation and proposed federal regulations of importance to the commercial real estate industry, focusing on NAIOP’s legislative priorities, including developments in tax, energy, and environmental policy. Aquiles Suarez, NAIOP’s senior vice president for government affairs, will also provide an assessment of the results of the November midterm congressional elections and their likely impact on the future course of policy. Attendees can pose questions regarding federal issues affecting their business and gain insights to prepare them for future regulatory or legislative challenges. 

Speaker: Aquiles Suarez, Senior Vice President for Government Affairs, NAIOP

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Originally published on November 8, 2022, for NAIOP E-Newsletter.

While most of the political establishment in the nation’s capital is focused on the midterm congressional elections, federal agency staff are still moving forward on developing regulations from legislation enacted this year. The U.S. Department of the Treasury and the Internal Revenue Service last Friday issued their Priority Guidance Plan for 2022-2023, detailing their top regulatory priorities for the next year.

Is your 2023 salary and bonus package competitive? Find out with the 2022 NAIOP/CEL Commercial Real Estate Compensation and Benefits Reports. These valuable reports (either Office/Industrial-Retail or Office/Industrial-Retail-Residential) enable commercial real estate businesses to stay current on salaries, bonuses, and benefits for CRE professionals from executive to entry-level positions.

The report includes:

Originally published in the Fall 2022 Issue of NAIOP's Development Magazine by Patrick Finucan, Sam Bennett, and David Kitchens.

To compete with the rise of e-commerce, traditional shopping malls are evolving to stay relevant and offer experiences that can’t be found online. Recognizing the central location of most malls, more owners are executing major redevelopments of these aging monoliths, transforming them into compelling, destination-worthy mixed-use environments that reflect the needs and wants of the communities they serve. 

Originally published in The Role of Data Analytics in Commercial Real Estate Siting, Design and Valuation Decisions by Clifford A. Lipscomb, Ph.D., MRICS in October 2022.

Industries are rapidly evolving as business processes grow more interconnected and automated. Data and analytics play an important role in information technologies and their interaction with the physical world, including emerging fields such as artificial intelligence, the Internet of Things (IoT), and virtual and augmented reality. Although commercial real estate (CRE) has been slower than other industries to adopt data analytics, some firms have identified several ways that data analytics can support land and building development and contribute to better project outcomes.

Originally published on November 8, 2022, by the NAIOP E-Newsletter. 

While most of the political establishment in the nation’s capital is focused on the midterm congressional elections, federal agency staff are still moving forward on developing regulations from legislation enacted this year. The U.S. Department of the Treasury and the Internal Revenue Service last Friday issued their Priority Guidance Plan for 2022-2023, detailing their top regulatory priorities for the next year.

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