SANTA MONICA, CALIF. — The retail landscape is changing, and the tried and true formulas for retail centers and malls are no longer cutting it. The convenience of e-commerce is cutting into purchases once almost exclusively entrusted to the local mall, and consumer tastes are evolving to demand better experiences from the centers they choose to shop at with their discretionary dollars.
Those were the conclusions suggested by panelists at the third annual Entertainment Experience Evolution..
In 2016, the national vacancy rate for medical office buildings hit an all-time low, net absorption rose to its highest mark since 2008, rents grew and investment activity remained strong.
But despite last year’s strong performance, Colliers International’s 2017 Health Care Marketplace Report shows that questions loom for the year ahead in the medical office space. While every administration change causes some degree of uncertainty, this year’s shift is markedly different as healthcare..
IRVINE AND SILICON VALLEY, CALIF. — The U.S. office real estate sector’s fundamentals appear to be stalling after years of slow recovery, as vacancy rates remain stubbornly high despite a healthy labor market and growing national economy, according to Ten-X’s latest U.S. Office Market Outlook.
Ten-X cited Reis data that shows the national vacancy rate for office space has held steady at 16 percent for three consecutive quarters. Vacancies are now 40 basis points lower than a year ago..
As commercial property owners renew their insurance programs in 2017, they’ll be pleasantly surprised to see their property premiums continue to decrease. Those owners can thank favorable meteorological and financial conditions for their good fortune.
Florida hasn’t been hit by a major hurricane in more than a decade. Hurricane Matthew skirted much of Florida’s coast, ultimately wreaking damage and disruption in Jacksonville, but overall, had a relatively small impact on the state and..
The Southeast’s top seaports and their surrounding industrial real estate markets have braced themselves for years for the larger post-Panamax vessels that can now pass through the newly expanded Panama Canal. The 102-year-old canal opened in late June 2016 following its $5.4 billion expansion, creating a shortcut for the larger ocean carriers coming from Asia.
The opening of Panama Canal’s expansion was delayed by two years, missing the 100-year anniversary of its 1914 debut. Shipping..
Recognizing that today’s retail environment stresses experience over shopping, developers of mixed-use communities in Texas are more frequently signing entertainment-oriented tenants to spaces that traditionally would have been reserved for department stores and inline soft goods retailers.
Developers pursue different types of entertainment tenants, depending on the projects, their locations and their audience. All of the projects leverage a growing number of new options in the food and..
NEW YORK — Following a turbulent year in 2016, the U.S. economy and property markets are positioned to perform well in 2017, according to Cushman & Wakefield’s U.S. Macro Forecast.
Although it will take time for policy to form, Cushman & Wakefield expects that President Trump, alongside a Republican-controlled House and Senate, will deliver fiscal stimulus measures that will further boost the U.S. economy and property markets. That said, some of the expected growth in fiscal..
The market for seniors housing construction financing is “pretty fickle right now,” a stark contrast from just a few years ago when the lending spigot for developers was flowing freely, according to Ari Dobkin, managing director of Meridian Capital Group.
“The funny money for construction just isn’t out there anymore. Lenders are hyper-focused on the borrower’s balance sheet, their experience doing construction and their ability to successfully fill up a building,” remarked..
Owners should be delighted to see the value of their property increase, but in our current tax environment, higher property values have become synonymous with higher property taxes. School districts, municipalities, counties, and other taxing units have the power to limit property tax bills by lowering their respective tax rates as property values rise. Instead of doing this, however, many taxing entities opt for a tax revenue windfall.
Remarkably, as they collect this additional revenue,..
In retail, nothing remains the same for long. A century ago, America saw the rise of mega department stores as category killers. In the middle of the 20th Century, regional malls were beginning their rise. That was followed by the power centers and lifesyle centers of 1990s and 2000s. Today, experience is the name of the game; consumers would rather spend time doing what they enjoy than shopping for common goods. They strive to make every trip an experience. In some ways, it is..