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.
• Wealthier Baby Boomers Shun Home Ownership by Diana Olick for CNBC.
“[Doug] Duncan pointed to demographics. Baby boomers are now moving out of their homeownership years, while Generation X, a smaller group by 6 million to 7 million, also has a growing preference to rent after being hit hard during the recession, losing income, credit and even their homes.”
• Is the Internet More Important Than Office Location? by Scott Baltic of Commercial Property Executive.
“The same survey, however, found that those who select office space, though they too consider connectivity more important than transportation, leasing options, management, amenities, views and environmental sustainability, do not place quite the same importance on internet access. Fully 78 percent of office workers ranked access to reliable internet connection as ‘critical’ in choosing office space, versus 31 percent of office location decision-makers.”
• High Net Worth Investors Hungry for Real Estate, Survey Finds by Elaine Misonzhnik of National Real Estate Investor.
“North American real estate remains more popular with high net worth individuals than real estate in any other part of the world, with 67 percent of wealth managers expecting their clients to increase allocations here over the next five years. Fifty three percent expect their clients to hold on to assets already in their investment portfolios, and 23 percent expect clients to attempt to sell their properties within a five-year timeframe.”
• Five Trends Dominating the Future of Student Housing Design by Tonie Auer of Bisnow.
“Over the last five years, there’s been a move to more high-density projects, Greg [Faulkner] says. One factor of that is the desire to be within walking distance to campus. Because land is becoming scarce, there’s a move to more vertical projects, he tells us.”
• Larger Office Buildings in U.S. Significantly 'Greener' Than Smaller Buildings by Michael Gerrity of World Property Journal.
“‘Our 2015 study confirmed that green building adoption has been primarily a big building, first-tier city phenomenon,’ said David Pogue, CBRE's global director of corporate responsibility. ‘It would appear that many smaller buildings in the majority of large markets still have an opportunity to be 'best in class' among their peer set by achieving these certifications.’”