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Urgent Care Facilities Fill Up Empty CRE Spaces

 

Posted June 7, 2017

report from the rating agency Morningstar finds that the number of urgent care facilities has jumped more than 20 percent since 2014, as aging baby boomers and millennials with young families seek out convenient medical treatment. “About 96 percent of urgent care centers had more patient visits in 2015 compared with the year-earlier period, according to the Urgent Care Association of America,” the report says.

Many of the newer facilities are taking space in former retail buildings such as strip malls.

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Office Space Demand Forecast: Second Quarter 2017

Posted May 30, 2017

The NAIOP Office Space Demand Forecast (released semiannually in Q2 and Q4) gives an efficient, accurate forecast of future and current conditions in the U.S. office real estate market for use by NAIOP members and the real estate community.

The current forecast calls for approximately 39.7 million square feet to be absorbed in 2017 – about 10 million square feet per quarter – similar to the 41.4 million square feet actually absorbed in 2016.

Read the Office Space Demand Forecast, Second Quarter 2017 online, and learn more about how you can support the work of the NAIOP Research Foundation.

View the Current Forecast

Data Center Leasing Activity Outlook

Posted May 23, 2017

By: Kelly McBride, Jeff Groh, and Allen Tucker

Increasing demand for cloud-based services is fueling data center leasing activity.

AS ADOPTION of cloud technologies to support the Internet economy and digital content-driven consumption accelerates, demand for third-party data centers that support the cloud-managed service sector is projected to double in the next five years. Globally, the multitenant data centers (MTDC) market is expected to rise at a compound annual growth rate (CAGR) of 12.1 percent between 2015 and 2018. Market absorption for MTDCs, measured in megawatts (MW), is increasing exponentially in many U.S. metro areas, which currently represent 44 percent of the global market. 

Today’s data center IT decision makers are using increasingly sophisticated criteria when they shop for space and power. The “big six” data center REITs — Equinix, Digital Realty, DuPont Fabros Technology, CoreSite Realty, CyrusOne and QTS — have continued their development binge, while smaller MTDC players also made some notable acquisitions in 2016.  As the data center market grows, cloud providers want to bring data applications and storage closer to consumers while decreasing latency and increasing reliability, opening new markets for potential data center construction. More flexible buildouts are allowing diverse players to enter a market once dominated by only the largest providers.

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Creating Community-oriented Office Environments

Posted May 23, 2017

Landlords and tenants have a shared interest in designing office environments that foster collaboration and innovation, with the goal of attracting talented workers and enhancing their job satisfaction, well-being and productivity.

CRE’s Technology Generation Gap

Posted May 23, 2017

Not surprisingly, what people think about technology seems to depend on when they were born.

Coldwell Banker Commercial surveyed CRE professionals and broke the results down into two groups: those 45 and younger, and those older than 45. In those groups, 65 percent of younger workers think the CRE industry is lagging behind other businesses in its use of technology. Some 68 percent of the older professionals say technology adoption is keeping pace with other industries.

When it comes to ease of use, 80 percent of the younger workers say they’re comfortable with technology, while only 58 percent of older workers say they are. Older workers are more likely to think personal relationship skills are more important than technology.

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Sentiment Index: Growing Optimism for U.S. Commercial Real Estate Market Over Next 12 Months

Posted May 18, 2017
NAIOP has released the latest Sentiment Index based on a survey of member developers, owners and investors on whether their 12-month outlook for commercial real estate development is positive, neutral or negative.
 
The Spring 2016 Index is 0.56. The overall composite Index has increased for the first time in two years. The current survey indicates that there is more optimism in the CRE market than there was six months ago.
 
View graphs and observations for each of the 10 questions about jobs, the space markets, construction costs and the capital markets.
View the Report
To share your feedback or inquire about participating in the next Sentiment Index survey (Fall 2017), contact [email protected].

House Ways and Means Committee Hearing on Tax Reform

Posted May 18, 2017

House Ways and Means Committee Chairman Kevin Brady (R-TX) has scheduled a hearing of the full committee for this Thursday, May 18, intended to show how tax reform will grow the economy by generating investments and creating jobs. The hearing is the first major action the committee has taken since President Donald Trump announced his tax reform plan – a broad statement of overarching goals with little detail.

In announcing the hearing, Chairman Brady said that the committee would hear “from witnesses about specific policy proposals that deliver the most economic growth and how our ideas will directly help hardworking taxpayers and the businesses that create jobs across America.”

The hearing is seen as a first step by House Speaker Paul Ryan and Rep. Brady to revive interest in features of their tax reform plan which have garnered strong opposition among Senate Republicans, including a “border adjustment tax” that would raise the costs of imported goods by 20 percent. Also controversial are provisions of the House plan that would affect commercial real estate, including the elimination of Section 1031 like-kind exchanges, the loss of deductibility of business debt interest, and issues concerning the continued capital gains tax treatment of real estate partnership carried interests.

The Rise of Robots May Mean Fewer White-collar Jobs

Posted May 10, 2017

Production line employees in the United States have been watching for years as their jobs are replaced by robots. Lawyers may be next.

Artificial Intelligence and Robotics and Their Impact on the Workplace,” a report from the International Bar Association, warns that artificial intelligence and algorithms may soon replace as many as one-third of graduate-level jobs around the world.

The report breaks the industrial age into four chapters: 1) Industrialization, 2) Electrification, 3) Digitization and 4) Industry 4.0.

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Redeveloping Newspaper Headquarters

Posted May 10, 2017

By: Patricia Raicht

Redevelopment of former newspaper headquarters and other facilities is becoming big business in more markets, as news companies offload valuable real estate with great structural bones in high-quality locations.

RISING PROPERTY values resulting from heightened demand among tech companies and other tenants for urban settings, combined with the downtown location of many newspaper headquarters, have created an opportunity for news organizations. Many that own their headquarters or print facilities are monetizing those investments, selling to investors and developers looking to convert the buildings to apartments, hotels and other forms of in-demand real estate. Others are maintaining at least partial ownership of their property while partnering with developers and investors to generate additional revenue.

Click here to read the full article.

2017 Six on Six Volleyball Classic is on May 11

Posted May 10, 2017

Childress Klein and Beacon Partners will host the 10th Annual Six on Six Volleyball Classic on May 11th, 2017. The event will pit teams from the Charlotte commercial real estate industry in a head to head competition that promotes camaraderie and networking while raising awareness and support for local charities.

May 11, 2017 11:am-5:00pm
VBGB 920 Hamilton Street, Charlotte NC
100% of the proceeds will benefit Charlotte Housing Authority

Click here to register and for more information.

County Manager Discusses Code Enforcement Improvements with REBIC

Posted: May 10, 2017

During a recent visit with REBIC, County Manager Dena Diorio discussed LUESA’s ongoing implementation of a new Electronic Plans Management system, as well as other technology improvements currently under development. Here are some key takeaways from the conversation:

Q: What can Code Enforcement customers expect in terms of improvements form the replacement of the electronic plans management system? 

A: The following are some of the major improvements that are being designed for the upgrade:

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