Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days.
• Finding the Right Mixed-Use Space by Don Catalano for RE Optimizer.
"Ultimately, given the popularity of mixed-use workspaces among the hard-to-please Millennial workforce, the benefits of occupying blended buildings usually cancel out the drawbacks. Nevertheless, if you are considering one, pay careful attention to how the other types of tenants will impact your occupancy in the building. If you don't see any potential problems and the space meets your other criteria, consider signing the lease.”
• Shrinking U.S. Shopping Malls Get Makeovers by Liam Pleven of The Wall Street Journal.
“An era of relentless expansion for American shopping centers is coming to an end as a toxic brew of overbuilding, the rise of e-commerce and a wave of retailer bankruptcies force landlords to reimagine once-lucrative properties.”
• New Era of Health Care Expansion Bringing Shopping, Apartments, Hotels to Hospital Campuses by Randyl Drummer of CoStar.
“Nearly $100 billion in construction of new and expanded hospital medical office projects, both on and off the hospital campus, is under way across the U.S. In the current building boom, developers are as likely to be adding apartments, retail space and even hotels as more patient care facilities.”
• No Reason Yet to Fear a Bubble, CRE Industry Pros Say by Donna Mitchell of NREI.
"Statistics from the American Institute of Architects (AIA) suggest that developers do not have to fear runaway construction expenses. If new construction hits the $390 billion projected for 2016, the industry would still be down 10 percent from its most recent high in 2008, according to the AIA.”
• Renters Pay Up, But Want Amenities by Paul Bubny of GlobeSt.
"A prime element of the rental lifestyle is location, specifically walkability. A majority of renters would rather walk than drive to the grocery store, public transit and local restaurants and bars, and this preference influences their decision of where to rent. Conversely, most would prefer to drive to work or to school."