DALLAS — Say the words “mixed-use” in commercial real estate circles today and generally the first thought that comes to mind is a property featuring a combination of multifamily and retail space. But there’s no written rule that says what property classes can or can’t be included in mixed-use. As such, a number of multifamily developers in Texas are redefining the term’s scope and application by bringing together apartment living and an office component in newer projects. As..
DALLAS — Investor demand for healthcare properties throughout the country is soaring, driven by the recession-resistant nature of the asset class and its ability to consistently generate strong returns. Confidence in the property type also stems from the prevailing realization that legislation opposing the Affordable Care Act (ACA) has thus far been unsuccessful. After multiple failed attempts to repeal and revise the law, the Republican Party introduced a bill today that aims to cut..
ATLANTA — By offering paid internships, educational programs, community events and flexible hours, seniors housing leaders hope to combat the well-documented labor shortage and entice younger workers. There simply aren’t enough employees to keep up with the pace of development, and the industry is plagued by high turnover rates as well. That’s according to speakers during an operations update at InterFace Seniors Housing Southeast on Aug. 23 in Atlanta. The conference, held at the..
With construction costs rising and the supply of talented staff diminishing, doing business has never been more expensive for seniors housing developers. As such, both developers and operators are seeking new ways to save money. Increasingly, these groups are considering the role design plays in their projects, with a particular emphasis on identifying design concepts and elements that save on the bottom line without compromising the property’s sense of livability. A panel of seniors..
ATLANTA — Legislative decisions made over the next 18 months will have a substantial effect on American businesses, according to Sen. Johnny Isakson (R-Ga.). The remarks were made at the fourth annual InterFace Seniors Housing Southeast conference on Wednesday, Aug. 23. The event drew over 400 industry professionals. “If you’re in business in America, what happens in Washington has a lot to do with your business,” he says. “You’re going to begin to see pressure on elected..
LAS VEGAS — The roof isn’t about to cave in on the retail industry despite a rash of store closures and bankruptcies. Far from it, insists Hessam Nadji, president and CEO of Marcus & Millichap. Core retail sales, which exclude auto and gasoline sales, have risen 28 percent from the peak of 2008 on a nominal basis and 12 percent when adjusted for inflation, according to combined data from the Bureau of Labor Statistics, the U.S. Census Bureau and Marcus & Millichap. Unlike the..
LAS VEGAS — In the midst of a particularly tumultuous period for the retail sector, evidenced by waves of store closures, what advice do seasoned shopping center executives have for aspiring young professionals seeking to make their mark in this business? The question arose Monday during a panel discussion moderated by Marcus & Millichap’s Bill Rose, national director of the brokerage firm’s retail group, at the Renaissance Las Vegas Hotel. The hour-long program, titled “Retail..
HOUSTON — As brick-and-mortar retailers such as Sears, Macy’s and hhgregg continue to shutter stores throughout the country at a furious pace, Houston developers are rapidly warming to the idea of anchoring their shopping centers with restaurants, fitness centers and entertainment-based businesses. Retail executives throughout the Houston area convened at the InterFace Houston Retail conference on April 18 to discuss the impact of this trend and others on the metro’s retail real estate..
HOUSTON — While it’s not an ideal time to be a multifamily property owner in Houston, it is a good time to be working on behalf of one. With their clients sitting on excess supply, apartment locators — middlemen who match tenant preferences to properties — are being increasingly called upon to deliver tenants. Locators work on commission, typically earning about 20 percent of the first month’s rent for their services. But in Houston’s soft market, that figure is rapidly..
Tenant concessions, ranging from free rent to complimentary carpet cleanings to distribution of gift cards, have become the norm in Houston’s multifamily market over the last few years. And according to several industry experts who spoke at the InterFace Houston Multifamily Conference on March 28, it’s the millennials who are taking advantage of them. Houston has become an especially attractive destination for millennials in recent years. According to a survey by JAXUSA Partnership,..