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.
• Your Rent's About to Get Even Higher by Victoria Stilwell of Bloomberg.
Key Expert:
“Already rents have climbed 3.5 percent in the 12 months through June, matching the biggest jump since 2008, Labor Department data show. That far outstrips the increase in consumer prices excluding food and fuel, which gained 1.8 percent in the same period.”
• How the Modern Workplace is Reshaping the Office Market by Sarah Quirk of TreppTalk.
Key Excerpt:
“In addition to increased flexibility, the workforce is changing. According to workplace expert and author Jacob Morgan, millennials are projected to comprise 50 percent of the workforce by 2020 and 75 percent by 2025. Between the need to entice workers back into offices and a growing cohort of employees that expect work environments to support their work-life balance, office space design has changed drastically.”
• Three Ways to Strengthen Your Commercial Real Estate by A. Yoni Miller of Shopping Center Business.
Key Excerpt:
“Being a commercial real estate owner is an easy job when the economy is booming, there’s a line of tenants out of the door and your property is in immaculate condition. But when the economy starts to flounder, tenants are no longer able to afford their rent and your property is in need of repairs and improvements, the true colors of being a commercial real estate owner arise. Planning for the worst and hoping for the best should be the motto of all real estate investors.”
• Putting CRE Sales Volume in First Half of 2015 in Historical Perspective by Elaine Misonzhnik of National Real Estate Investor.
Key Excerpt:
“Total investment sales volume recorded on sales of multifamily, office, retail, industrial and office properties in the first half of 2015: $255.1 billion. The figure is ahead of the sales volume reported for the five core commercial property types in the first half of 2006, which volume totaled approximately $201.2 billion.”
• East Coast Ports Face Warehouse Crunch by Robbie Whelan of The Wall Street Journal.
Key Excerpt:
“East Coast ports aren’t adding warehouse capacity to match increasing container shipping traffic, two new studies find, a disparity that is likely to grow once the Panama Canal expansion is complete.”