originally published by TOBY BURKE for NAIOP National
Every local government in the United States is required to operate under a balanced budget where incoming revenues equal outgoing expenditures. The National League of Cities has referred to these local budget as “political instrument(s)” that governs public policy priorities, funds government services, and programs, sets spending limitations, and establish a level of transparency and accountability in applying revenue.
NAIOP, the Commercial Real Estate Development Association, commends congressional lawmakers on the passage of the $1.2 trillion infrastructure package, which now moves to President Joe Biden for signature into law.
A longtime priority issue for NAIOP members – the nation’s foremost owners, developers, and investors of office, industrial, retail, and other commercial real estate – the bills $550 billion in new federal investments in U.S. infrastructure will provide critical financial support for roads, bridges, rail and mass transit systems, as well as underlying water, energy, power, and broadband systems, among others.
Investment in these transportation and infrastructure networks is essential to repairing and strengthening the supply chain. Included in the bill are $17 billion for port infrastructure and $25 billion for airports – critical funds that will help address facility deterioration, lower emissions through electrification and other low-carbon technologies, and reduce congestion near these heavily-trafficked areas.
originally published by COMMERCIALEDGE TEAM for NAIOP National
The Delta variant of COVID-19 has continued to delay the return-to-work plans of many companies. Still, rising vaccination rates and declining case numbers have provided hope for many companies. Anyone worried about the future of office work can look at the continual investment of big tech into the industry to feel confident that offices are far from a thing of the past.
originally published by BRIELLE SCOTT for NAIOP National
In a recent NAIOP webinar, Mark Bryan, Certified Futurist and director of innovation and research, M+A Architects, addressed these questions, sharing some of the generational shifts his company has observed in the workforce and their potential impact on the built environment.
originally published by REBIC with permission to repost on CRCBR.
originally published by Brielle Scott for NAIOP National
It is critical to understand the key factors and takeaways that will shift life as we know it today, so the built environment can appropriately adapt and respond to life post-pandemic.
in Features for REBusniess Onlin and reposted by NAIOP National.
WASHINGTON, D.C. — Flexibility, convenience, and ultimately commercial real estate’s resilience will drive the industry over the next decade as owners respond to and recover from the COVID-19 pandemic.
That’s according to Emerging Trends in Real Estate 2022, an annual report jointly produced by PwC US and the Urban Land Institute (ULI). The report includes proprietary data and insights from nearly 1,700 leading real estate industry experts, gathered both through in-person interviews and a survey.
originally published by JEFF ZBAR for NAIOP National
While some assets in the real estate market have been jolted by pandemic-related fallout, some investors, managers, and property owners will look back on the COVID-19 era as the “golden era” of real estate investment.
While some sectors have struggled, like office and retail, certain sectors have seen tremendous growth. Managers with operational expertise with the right property type have found success.
originally published by ROCHELLE BRODER-SINGER for NAIOP National
Commercial real estate and construction have been notoriously slow to adopt new technologies. But digital transformation is coming to the industry. At CRE Converge 2021 in Miami Beach, experts discussed how several new technologies are affecting developers, builders, and owners:
Reality capture
This is a very busy time, but a time to be involved and aware of what is happening in Charlotte. Yesterday (10/13), the City of Charlotte released a draft of the Policy Maps.
The 2040 Policy Map is a companion to the Charlotte Future 2040 Comprehensive Plan and provides guidance for the type and intensity of development that is appropriate throughout the city. The Charlotte Streets Map is a companion and supporting document to the Charlotte Future 2040 Policy Map and the Unified Development Ordinance (UDO). It shows how each street should ultimately evolve to meet the city's mobility and public realm needs. Links:
We need your feedback!
originally published by REBIC with permission to repost on NAIOP
#1) First Draft of Charlotte UDO Released
originally published by Rochelle Broder-Singer for NAIOP National
To address its ongoing talent shortage, the commercial real estate industry must look outside of traditional recruiting avenues and consider people with nontraditional career paths.
Ten years ago, great employees seemed much easier to find – an organization might find three excellent candidates for anyone open position. Today, it can feel like there are no great candidates available.
originally published by Brielle Scott for NAIOP National
Attendees at CRE. Converge this week had the unique opportunity to hear from seven-time NBA All-Star and sports icon Grant Hill. Skip Kalb, principal, Skip Kalb Strategies, LLC, and incoming chair of the NAIOP Research Foundation, interviewed Hill about lessons learned through his time in the NBA, his recent appointment to lead the USA Basketball Men’s National Team in the 2024 Olympics, his transition to a powerhouse commercial real estate investor and owner in several markets across the country, and more.
originally published by Trey Barrineau for NAIOP National
In the wake of the COVID-19 pandemic, supply chain problems have become pervasive. In fact, things are getting so bad that many fear they could imperil the all-important holiday shopping season this year.
Michael Landsburg, chief development officer with NFI Real Estate, said there are currently 70 cargo ships anchored off the ports of Los Angeles and Long Beach, California. A month ago, there were about 40.
Exclusive NAIOP Developing Leaders Program for Members.
Does what happens on Capitol Hill really impact your market, company, or career? YES! While the legislative language is complicated and the process somewhat daunting, it’s more important than ever that our Developing Leaders understand how NAIOP’s legislative agenda plays a significant role in advancing and protecting the industry.
originally published by BRIELLE SCOTT for NAIOP National
The post-pandemic construction boom has taken many forms. E-commerce and big box retailers are developing across the country, while at the same time, construction projects that were postponed during the pandemic have resumed. However, the lack of workforce at manufacturing facilities last year combined with the high demand for materials have led to price increases and lead-time delays.
In a session at CRE.Converge this week, a panel of experts led by Bill Finfrock, president, FINFROCK, shared some of the strategies used in construction to keep projects moving forward despite these challenges.
originally published by K.J. Jacobs for NAIOP National
When it comes to choosing the right building, there are several questions an organization must ask itself. Is the company at a place where it can invest in a building that will attract prospective employees? Is the company looking for a more temporary or flexible workplace? Is the facility able to support the organization’s needs for production, research, collaboration or innovation?
Since each company’s requirements, goals and operations are unique, as are each facility’s offerings and characteristics, the answers will vary depending on who’s asking.
originally published by Maria Sicola, Charles Warren, PhD, and Megan Weiner of CityStream Solutions, LLC and posted for NAIOP Global
In 2020, the NAIOP Research Foundation published A New Look at Market Tier and Ranking Systems, which identified the limitations of one-dimensional tier and ranking systems that are commonly used to evaluate metropolitan commercial real estate markets. When tailored to the needs of a specific type of investor, these models can help prioritize markets for consideration. However, tier and ranking reports designed for a more general audience tend to be of only limited use to most end-users since they do not account for differences in investment strategy, risk tolerance or specialization. Further, all tier and ranking models condense complex market characteristics into a single score, providing only limited information that investors can use to evaluate and compare different markets.
Dear NAIOP Chapter Executives:
The NAIOP Research Foundation is currently conducting a brief survey of U.S. members on development costs for office, warehouse/distribution, manufacturing and retail projects. This updated information is needed to complete the 2022 U.S. edition of the Economic Impacts of Commercial Real Estate, and we would appreciate your help promoting the survey to members who are likely to know about development costs for manufacturing and retail properties, as only a few respondents have provided information for these property types.
The survey takes about 2-3 minutes to complete, and we are now offering anyone who provides information on development costs (including those who have already completed the survey) with a $10 Amazon gift card. Please encourage members to complete the survey, either using the personalized link they received on Monday, September 20, or using this open link: https://research.zarca.com/r/hh79EQ If someone else at their firm would be better able to complete the survey or is more familiar with manufacturing or retail projects, members can send them the open link. The survey will now close on October 6.
Originally published by REBIC with permission to re-post through CRCBR.
