Industry Insights

Who is brave enough to live in the penthouse of the US’s tallest wooden high-rise? New year, new buildings to look forward to!

What is your favorite trend? Undulating facades, multi-colored legos, or interlocking staircases?

Take a look at the stunning buildings slated to be delivered this year.

The world’s most anticipated buildings completing in 2018

Originally published on December 31, 2017 by CNN.com

2018 continues to be talked about in a positive light for the real estate industry. There will always be a need for brick and mortar, regardless of how much technology continues to disrupt our society. The way we use those buildings just may require more and more creativity. The below article is a great read whether you own real estate, work in the industry, or are just plain curious.

According to Deloitte, there are four focus areas where commercial real estate companies can focus to help them continue to grow and maximize value. They are:

• PRIORITY ONE | UNLOCK THE VALUE OF REITS: ACCELERATE BUSINESS
• PRIORITY TWO | FOCUS ON RE FINTECH STARTUPS: AVAIL ALTERNATIVE CAPITAL OPTIONS
• PRIORITY THREE | EMBRACE ROBOTICS & COGNITIVE AUTOMATION (R&CA): AUGMENT PRODUCTIVITY
• PRIORITY FOUR | REIMAGINE TALENT AND CULTURE: ADVANCE PEOPLE

Read the full article here: Commercial Real Estate Outlook 2018

From major mergers and capital constraints on apartments to the co-working revolution and the Fed finally making its move on interest rates, 2016 was not without its major commercial real estate stories. But, of course, the biggest one of all won the American presidency. See below for the major commercial real estate news highlights on 2016.

1. Enter Donald Trump
2. Marriott International Grows With Starwood Merger
3. Creation of ColonyNorthStar
4. China Becomes Major US Real Estate Investor
5. Banks Pull Back On Apartment Construction Lending
6. Merger Mania In Dixie
7. Hines REIT Liquidation
8. Fed Makes Its Move. Finally.
9. The VTS/Hightower $300M Merger
10. Co-Working Takes The US By Storm

Originally published by Jarred Schenke for Bisnow on Dec 23, 2016. See additional details on these commercial real estate 2016 highlights in the full article here: The Biggest Commercial Real Estate Stories Of 2016

With Amazon’s September announcement that is will be building another Seattle-sized headquarters, cities put their best and most creative brainpower into telling Amazon why they should choose their city.

What’s in it for the chosen finalist? A campus the size of it’s current Seattle headquarters, $5 billion in construction spend, and 50,000 plus high-paying jobs.

Numerous cities have been named as stand out candidates including New York City, Denver, Austin, Boston, Chicago and Washington, D.C., Detroit, Pittsburgh, Minneapolis, and Baltimore. The site of the new headquarters will undoubtedly need to have quality higher education, functional infrastructure, and significant government backing.

Finalists are announced in December with the winning location to be announced in 2018. We are all excited to see which city gets economic boost from the Amazon powerhouse.

Read more about thoughts on the expansion by some of NAIOP’s Distinguished Fellows:

The Search for amazon’s Second Headquarters.

Effective January 1, 2018. California employers will no longer be able to ask your previous or current salary. Applicants are free to volunteer this prior compensation information, and companies may then consider than information in their offer packages. Companies will also now be required to provide applicants a salary range for open positions.

The goal of this legislation is to narrow the gender pay gap. “In 2016, California women who were full-time wage and salary workers had median weekly earnings of $814 or 88 percent of the $925 earnings of their male counterparts, the U.S. Bureau of Labor Statistics reported last month. That’s down from 90.2 percent in 2005.”

Read the full article here: California bosses can no longer ask you about your previous salary

Originally published by Margot Roosevelt in the Orange County Register on October 12, 2017

The NAIOP CRE Sentiment Index for September 2017 indicates that commercial real estate fundamentals are generally positive, but there is still some uncertainty. An index number greater than zero, like the current 0.49 number, indicates that respondents believe that general market conditions over the next 12 months will continue to be favorable for the commercial real estate industry, and overall conditions will be better in 12 months than they are today. This survey reflects an expectation that the commercial real estate market will be moving ahead at a more cautious pace than what was expected six months ago, and at about the same pace as measured one year ago.

Read the full article here: NAIOP CRE Sentiment Index: Cautious Optimism for U.S. Commercial Real Estate Market Over Next 12 Months

What You Missed at CRE.CONVERGE 2017: BUZZED-ABOUT TRENDS, TECH AND NETWORKING

NAIOP’s CRE.Converge 2017, held in Chicago October 10-12 brought together over 1,500 professionals from across North America for networking, deal-making and lively discussion.

Above is a link to NAIOP’s conference recap, including industry thoughts on geopolitical trends, disruptive technologies, global economic investments, and strategic development approaches. Especially interesting to me was the discussion on the fourth wave of wealth and prosperity. Want to get ahead of the wealth curve? Find out what keynote speaker Dr. Michio Kaku shared surrounding his big-picture predictions for The Fourth Wave of Wealth and Prosperity its implications for commercial real estate.

The real estate industry tends to slow down in the summer. Understandably, this can be unsettling if you are eagerly looking for a new job or trying to fill a much-needed open position in your company. However, I believe this period can be a good thing for some companies/teams and here’s why.

During this time, we take that well-deserved vacation, which opens us up to new experiences and therefore new ideas and ways of thinking. We spend long summer evenings BBQ’ing with family and friends and these shared moments remind us of what’s important and help us keep healthy perspective. Being tourists in our own towns reconnects us with our communities and the importance of home. In turn, we bring these insights to work where, combined with the slower pace, we can more effectively catch up on email, prioritize projects, nurture office relationships and set goals for the remainder of the year.

As many of you know, I took some time off when my husband and I welcomed our first child – a sweet baby girl – into the world in April. Since then, our lives have been turned upside down in the best way possible, and I know many of you can relate!

Becoming a mom has been an extraordinary experience for me, and I will forever be grateful for these last few weeks I have spent focused on my family. I, too, have had moments when I would think (worry) about work and how my clients and job candidates – many of you! – were doing. I’d call in and my two rockstar teammates, Julia and Regan, would kindly fill me in, let me know they (of course) had everything under control and send me back to where I was supposed to be.

One look at my daughter and I returned to the present and the precious time I was having getting to know her and motherhood. I told myself that before I knew it I would be back at work and required to hit the ground running. And that day has now come! This week, I return to work a little sleep deprived but with a renewed sense of purpose and inspired like never before.

I truly hope you have the opportunity to take time out to spend these warm summer days doing what you love and finding inspiration in all that you do. In the fall, the real estate industry tends to kick into high gear once again. Since 2009, the end of each year has historically seen the highest sales volume of $2.5M+ real estate assets*. So far, this year seems to be on par with the trend, so I have no doubt it will be an exciting and productive end to the year. I look forward to catching up with many of you in the weeks ahead in preparation.

In the meantime, Happy Summer!

Feel free to reach out to me at CGlova@BuildingRECareers.com!

* Statistic according to the National Association of Realtors’ Commercial Real Estate Outlook: 2017 Q1

“Our decade-long research into CRE employment activity has revealed a clear connection between employers’ mindsets, the span of their expectations in new hires, and the nature of jobs they post based on where we are in the cycle,” said Funk. Toward the top of the cycle employers tend to hire for niche job functions in specific sectors, such as a multifamily acquisitions specialist, whereas at the retrenchment and recovery stages hires are expected to fulfill multiple job functions across more than one sector.

“The pace of hiring and the nature of the job postings that we are seeing predominate now argues that we are at the Cautious Optimism stage in the CRE Employment Cycle,” said Funk, noting that current activity could indicate slow growth and stability rather than a transition into retrenchment.

Read more about CRE job growth in the full article here: Real Estate Employment Cycle Indicates Slow Growth and Stability in Market

Originally published on SelectLeaders.com