Browse Tag: Construction

Construction: The Employment Crisis (Almost) Nobody Talks About

Commercial development without skilled construction workers is a recipe for no development whatsoever. Yet the country’s educational system appears to be failing the construction industry – along with commercial real estate.

The system seems content to allow millions of students at for-profit colleges to be simply fleeced and abandoned, no more employable than they were before going into debt for their education. This is the for-profit education industry’s choice: a grab for the short-term, subsidized buck over the long-term benefit to the student and to the country.  Rather than orient itself toward trade education that actually meets the demands of the wider economy, the secondary educational system’s choice to turn away from the trades appears to have placed it on a direct collision course with the needs of the commercial development industry. Those needs are near all-time highs: the latest employment forecasts from the US Department of Labor say that the national need for these workers ranks higher than the needs for workers in all other categories save one (health care).

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Avoiding The Con In Construction: Kia Ricci At NAR Expo 2014

Developers and commercial property managers and owners faced with improvement and expansion projects rely upon general contractors to take on the project. But how do you separate the heroes from the zeroes in the construction arena? Ask Kia Ricci.

Ricci is a licensed general contractor, consultant and author of Avoiding The Con In Construction.  She’s also an engaging speaker with a mastery of the material and many years of hard-won experience. At Ricci’s address to NAR Expo 2014, she walked attendees through the ins and outs of identifying bad actors in construction contracting and subcontracting, from spotting problems in insurance, exploring state-registered complaints about work, to a catalog of scams and ripoffs in the construction trade.

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Modular Construction: New Commercial Property Applications

Standardisation
(Photo credit: psd)

If there’s one common thread to the huge number of different technological changes roiling commercial real estate, it’s standardization.  Standardization looks for ways to treat different things in the same way, and build efficiencies as a result.  Standardization is behind all the software tools we use and increasingly depend upon – the web, your desktop, your phone, all need to run the application you need.  The listings data you depend upon has to meet certain standardized criteria or it won’t publish.  In finance, standardization of debt instruments gives us CMBS and other tools to increase credit and liquidity (sometimes too much!)

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Demand For Commercial And Industrial Design Rises Even As Architecture Billings Index Slips

Architecture Billings Index chart showing decline in demand for design workWatching commercial real estate for signs of the coming future means keeping an eye on many different indicators.  One such number touted as a leading indicator of construction spending is the American Architecture Association’s Architecture Billings Index.

Used as an indicator for new nonresidential construction going out 9-12 months, the ABI defines nonresidential as “lodging, office, commercial, manufacturing, health care, educational, religious, public safety, amusement and recreation, transportation, and communication.”

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BIM: Toward Smarter Commercial Real Estate

I was taking a closer look at the medical center property market when I came across Carrie Rossenfeld’s very interesting piece about a 500,000 sq. ft. project breaking ground last week.  The UC San Diego Jacobs Medical Center in La Jolla, CA is a big project with a big idea driving the development and the management of the property afterward.

The idea is Building Information Modeling, a design, construction and property management discipline enabled by high technology.  Described as a “flight simulator for building”, BIM is a virtual construction tool/software-enabled technique that generates and manages data about the building throughout its entire life cycle, from design to property management.

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