How Healthcare Adds Value to Mixed-Use Developments in Milwaukee and Beyond

When it comes to location identification for development, you have to think creatively. In a highly competitive market like Milwaukee, mixed-use projects offer a great opportunity to showcase creativity, take advantage of complementary uses and drive tremendous value for clients and investors. The success of a mixed-use project lies in location. A high-profile location will help attract businesses, which then helps build traffic. Ideally, you want to think outside the box to generate repeat …

November 15, 2018Healthcare, Market Reports, Midwest, Midwest Market Reports, Wisconsin

Louisville’s CBD, Suburbs Offer Good Landing Spots for Office Tenants

Louisville’s office landscape can be described as a tale of two distinct submarkets woven together by a common thread of consistency. In the central business district (CBD), Class A vacancy rate stands at approximately 13 percent while the suburban Class A vacancy rate hovers around 8.5 percent. As can be noted, there is a substantial gap in occupancy between the two submarkets — 450 basis points. The thread of consistency in the Louisville office market lies in the fact that both are …

November 12, 2018Kentucky, Market Reports, Office, Southeast, Southeast Market Reports

Retail Growth in Plano-Frisco-McKinney Comes Full Circle

Twenty-five years ago, the Plano-Frisco-McKinney area was replete with open fields, cows and dirt roads. Today, the intersection of State Highway 121 and the Dallas North Tollway is central to Dallas-Fort Worth’s (DFW) development activity. Every red light within a three-mile radius of that intersection has cars stacked 10 deep. The entire area is a metropolitan buzz of noise and activity. The key to understanding how real estate markets — not just retail —in these cities changed so …

November 9, 2018Market Reports, Retail, Texas, Texas Market Reports

Don’t Nap on Naptown: Indianapolis Office Market Is Actively Transforming

You would be hard pressed to find another city more excited about transformation than Indianapolis right now. Previously known as “Naptown” by outsiders due to the sleepy feel the city exuded, those days are long gone. Indy has experienced incredible transformative activity in the past decade, and that extends to the commercial real estate office sector. For the 18th consecutive quarter, this sector has experienced positive net occupancy gains, and 14 of those quarters have fallen …

November 8, 2018Indiana, Market Reports, Midwest, Midwest Market Reports, Office

Lehigh Valley Office Market Continues to Grow

From large publicly traded companies to mid-size tech companies and small professional services firms, companies are taking notice of the office development and vibrant live-work communities being built in the Lehigh Valley. [caption id="attachment_214426" align="alignright" width="100"] Don Cunningham, President & CEO, LVDEC[/caption] Located one hour north of Philadelphia and 90 minutes west of New York City, the Lehigh Valley is a two-county region in eastern Pennsylvania …

November 7, 2018Market Reports, Northeast, Northeast Market Reports, Office, Pennsylvania

No Sign of Retail Apocalypse in Sight as Grocers, Restaurants Help Richmond Thrive

If you mention the phrase “retail apocalypse” to anyone in the Richmond market, you will immediately receive a puzzled look back. The Richmond retail market is about as far away from a retail apocalypse as any market in the country. Yes, we have seen the Toys ‘R’ Us, Sears, Macy’s and Kmart closures, but with close to 83 million square feet of retail space in the Richmond MSA, the current retail vacancy rate is below 5 percent. The vacancy rate is at, or near, a record low and demand …

November 5, 2018Market Reports, Retail, Southeast, Southeast Market Reports, Virginia

In Terms of Multifamily Demand, Far Northeast DFW Has It All

In the world of multifamily development, it’s rare to find a market that quite literally checks every box. But in Dallas-Fort Worth’s (DFW) Far Northeast submarket, which encompasses Plano, Frisco, Allen and McKinney, that’s precisely the case. In terms of fundamental demand drivers, Collin County is growing by about 80 new residents per day, one of the fastest rates in the country. The county’s population is expected to increase by nearly 800,000 over the next two decades, and to add …

November 2, 2018Market Reports, Multifamily, Texas, Texas Market Reports

Legal Considerations for Condominium Deconversions in Chicago

With the demand for apartments in Chicago rising, many real estate developers have discovered a previously untapped supply of potential acquisition targets — residential condominium buildings. This includes older condominium properties plagued by large deferred maintenance obligations and stagnating or declining unit sales prices. While the process for converting condominium buildings into rental properties can be more time consuming and labor-intensive than acquiring an existing …

November 1, 2018Illinois, Market Reports, Midwest, Midwest Market Reports, Multifamily

Investors Key in on Southwest Philadelphia Multifamily Sector

Apartments in Philadelphia’s urban core command premium rent, prompting more renters to consider living in the surrounding suburbs. Rising demand for apartments in submarkets both near and far from Center City have helped lower vacancy and improve rent growth. Southwest Philadelphia, in particular, has exhibited these trends despite elevated construction activity. The combination of favorable property fundamentals amid supply additions draws strong investor interest, leading to increased …

October 31, 2018Market Reports, Multifamily, Northeast, Northeast Market Reports, Pennsylvania

Richmond’s Office Market Grows in Prominence as Corporate-Friendly Destination

Richmond is thriving and the office market is following suit. The office market, like the broader Richmond region, benefits from Richmond’s diverse economy, high-quality of life at a reasonable cost of living and the steadily growing, highly educated workforce. These attributes make Richmond an attractive option for large employers evaluating cities for operations. Recent entrants to Richmond include CoStar Group, ICMA-RC and Owens & Minor. The CEO of CoStar pointed to Richmond’s …

October 29, 2018Market Reports, Office, Southeast, Southeast Market Reports, Virginia