Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to six stories that caught our eyes in recent days:
U.S. REITs Attractive in a Post-Brexit World, By Susan Persin, Urban Land Institute
Key Excerpt:
“Demand from e-commerce tenants has fueled the industrial sector while builders have stayed cautious, focusing new development largely toward preleased space.”
In Spite of Brexit Challenges, Largest Global CRE Firms Report Robust Leasing, Sales Activity, By Randyl Drummer, CoStar
Key Excerpt:
“Executives of the largest CRE services companies, during second-quarter earnings calls over the last 10 days, were generally optimistic about the ongoing strength of business in the second half of the year, pointing out that strong operating fundamentals continue across virtually all commercial property segments, helping offset caution among investors concerned about global economic and geo-political volatility.”
GGP Piloting Digital Parking App, By Sarah Borchersen-Keto, REIT.com
Key Excerpt:
“To check parking availability, shoppers can open a GGP app on their mobile devices and select a mall location. Parking lots at GGP properties are divided into zones of varying number and size. Based on current and historical data, the zones will be highlighted on the app in either green, yellow or red to indicate the likely availability of parking spaces.”
Multifamily Mortgage Originations on Record Breaking Pace of $280 Billion in 2016, By Monsef Rachid, World Property Journal
Key Excerpt:
“According to Freddie Mac’s recently released Multifamily Mid-Year Outlook for 2016, nationwide multifamily origination volumes in the U.S. are on track to increase seven percent and set a new annual record of $280 billion in 2016. Nevertheless, origination growth is moderating compared to the same period in 2015, when volumes rose by 35 percent.”
Economic Impacts of Commercial Real Estate, By Dr. Stephen S. Fuller, NAIOP
Key Excerpt:
“Development and construction of new commercial real estate – office, industrial, warehouse and retail – continues to be a powerful contributor to the U.S. and individual state economies, supporting approximately 3.2 million American jobs and contributing $450 billion to U.S. GDP in 2015, according to a new report released by the NAIOP Research Foundation.”
Cutting-edge Trends in Office and Industrial Design, By Marie Ruff, NAIOP
Key Excerpt:
“One of the key drivers in office design is the increased percentage of the millennial generation in the workforce. By 2020, it is estimated that millennials will make up over 50 percent of the total workforce. In order to attract and retain millennial talent, designers are reshaping the work environment to encourage creativity and increase collaboration, while providing amenities such as gyms and coffee shops. The days of perimeter offices and high-walled cube farms are numbered.”