At the Bisnow 3rd Annual Chicago State Of Office conference this week, a strong gathering of commercial RE pros listened to a blue-ribbon panel drawn from around Chicago’s office marketplace to hear perspectives on the local and national economy. Gathered were:
With only a few exceptions, the mood was decidedly up at Thursday’s Healthcare Real Estate Conference in Chicago. The investors, brokers, tenants, developers and managers who met at the University Club came to hear about strategies and trends in development, management and capital for medical properties ranging from medical office buildings (MOBs) to large healthcare campuses to retail outpatient facilities.
Last month’s holiday season brought the seasonal retail push. Coast to coast, goods moved at peak volumes, as they do more or less every year. But the radical change brought to retail by online shopping technology has, more than ever, redrawn the landscape in all areas of retail, from customer-facing to logistics and everywhere in between.
A recent Jones Lang LaSalle report put the number of retailers selling online at 92 percent, with 68 percent operating brick-and-mortar retail stores. The past five years have seen increases in online sales for 80 percent of retailers, and some of those are pegged at 25 percent increases.
As the global commercial property market evolves, it is marked by two kinds of growth. First, the sources of investment capital grow in number around the world. Then comes growth in the number of destinations for such capital. Buyers and investors in commercial real estate are increasingly international, so investments and returns have to make long trips to get where they’re going. When that’s true, the demand for clarity, predictability, reliable measurement and sustainability — known collectively in commercial real estate as transparency — becomes increasingly important.
Of the many Views From The Frontier Of Commercial Real Estate at today’s session of the same name at NAR Annual 2011, it was Sam Foster‘s that presented a definitive roadmap. That’s because Sam, head of industrial practice at Jones Lang LaSalle, took a long look at the transportation and warehousing industries and the likely impacts on CRE.
In a fascinating session, Sam brought to light the role of ports, transportation, and inventory in the forecasting of tomorrow’s hottest CRE markets. Playing on NAR 2011’s theme of carpe diem (sieze the day), Sam quipped “The theme should really be carpe crastinum diem – sieze tomorrow. We should be looking for future opportunities.“