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.
• Quantifying the Millennial Impact on Real Estate by Builder.
“Millennials are coming of age, and as a demographic of 87 million people, they will have a significant impact on real estate according to this study from CEL & Associates. Millennials are characterized as being a group that is obsessed with connectivity and technology, and are loyal to specific brands. Millennials are entrepreneurial and desire balanced lives.”
• Solar Power Is Within Reach for Multifamily Owners, Developers by Bendix Anderson of National Real Estate Investor.
“Solar power is becoming a much better investment for owners and developers of apartment properties. The price to buy solar panels has dropped significantly, and today’s photovoltaic panels are much more efficient than just a few years ago. Prices are now so low that a set of rooftop solar panels sometimes makes sense purely as an investment, without any extra cash from subsidy programs or tax credits.”
• 10 Most Wanted Office Amenities by John Bremner of LoopNet.
“Office amenities are a key focus when choosing a new office location for your company. We came up with a top 10 list of the most wanted office amenities for your next office move. Do you think having these features in your office would make you love coming into the office in the morning?”
• Report: Physical stores and technology have strong appeal for 'omnishopper' by Marianne Wilson of Chain Store Age.
“While the use of technology in shopping is almost universal, brick-and-mortar stands strong, with the “omnishopper” choosing physical stores for better customer service and a faster, more social buying experience.”
• Economy Watch: Tech’s Effect on the Office Leasing Market by Dees Stribling for Commercial Property Executive.
“Tech is the most ballyhooed part of the economy. It’s mysterious to many people, but it seems to make our lives better — or at least more convenient. Yet how much does the tech industry affect the commercial real estate market? Quite a lot, it turns out, especially the office market. Recently CBRE took up the question in a report, “Tech-Thirty 2015,” which noted that the high-tech software/services industry created 730,000 new jobs nationwide, representing a growth rate of 34 percent since 2009 — or one-fifth of all new office-using jobs. The sector was also the leading driver of U.S. office market demand, accounting for 20 percent of major leasing activity in 2015.”