The new year holds promise for strength and growth, per the recently released U.S. Real Estate Market Outlook from CBRE Research. On the industrial front, the report highlights record levels of demand generated by e-tailers looking for distribution centers. Alternately, traditional retailers are also seeking logistics space as they adapt to the needs of the online customer. Users absorbed between 75 million to 90 million square feet in the industrial and logistics sector each year since 2013, a trend CBRE’s analysts expect will extend into 2019 and beyond.
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One of the biggest challenges commercial owners and operators face is managing risk. You can secure financing, attract investors make improvements and screen tenants but you cannot
know when disaster will strike. In Texas, we know all too well the damage a rogue thunderstorm can cause when it hurls golf ball-size hail or fills up a local creek too quickly. That’s, of course, why the insurance industry exists: to protect your investments in case of a loss. However, insurance companies may not be completely altruistic in their mission.
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Takeaway: Leasing and development and investment sales in this segment are beginning to show signs of slowing, but not flattening out, whether inside or outside the Loop. Growth in rents and
prices in general is projected to continue, albeit at a slightly lower rate than in recent years.
• Huge price increases inside the Loop in leasing and sales, due to increased desire for ‘urban living’ by empty nesters and Millennials, aided by strong growth of mid- and high-rise residential units
• Reducing commuting time by living ‘closer to the action’ has a high appeal, plus ‘having fun right where you live’
• As some big box stores exit the scene, they are tending to be replaced now with entertainment, fitness, or restaurant tenants… not traditional clothing stores
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The switch to 2019 is an opportunity to celebrate the year that was and look ahead to the year to come. As it pertains to commercial real estate, a big part of the future, as well as the past, is lending. To determine what the new year has in store, REDNews reached out to Greg Young, senior vice president of Grandbridge Real Estate Capital, which offers comprehensive capital solutions for commercial and multifamily real estate assets, and William Dampier, vice president of commercial lending at City Bank, which provides a number of commercial loans aimed at
helping the Houston community grow and prosper.
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On Small Business Saturday, parking was hard to come by on 19th Street in the Houston Heights. Crowds rolled like waves down the sidewalk, popping in and out of the stores. Along with
the chatter of shoppers and rumble of traffic, you could hear the frequent bell jingle, a sign that another customer had popped in to see what one of the momand- pop storefronts offered.
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In-person meetings are irreplaceable, and no matter the challenges, communication is paramount. But what if your project team is in multiple cities, across multiple companies, located all around the world? A project team needs to maintain clear and constant communication, and transparency in collaboration is a must.
At Stantec, our project teams have found tremendous value for our clients and their projects through leveraging technology like unmanned aerial vehicles (UAS or more commonly, drones) and virtual reality (VR) to better capture, analyze, and communicate site design information.
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