REBusinessOnline

On-Campus Housing Prepares for a Better Year

It was a rough year for everyone, but certain industries absorbed more of the brunt than others in 2020. This would include hospitality, airlines, restaurants and on-campus student housing. There was no clear map for navigating the COVID-19 pandemic, and while campuses and on-campus housing officials tried their best to keep everyone safe and healthy, everyone experienced a turbulent year. Some on-campus housing communities closed for parts of the school year. Others issued lockdowns that …

Mixed-Use at the Core of Mall Reinvention

When it comes to mall redevelopment, one of the biggest hurdles is changing the business community’s perception that enclosed malls are only for retail use, says Sean Garrett, president of acquisitions and director of community relations for East Peoria, Illinois-based Cullinan Properties Ltd. “There is no reason an insurance office can’t be right next to a retailer and a neighbor of a dentist,” states Garrett. “Downtowns and Main Streets have been developed this way for …

Green Rush: Cannabis Creates Opportunities for Retail Architects, Contractors

By Kristin HillerThe design and construction of cannabis dispensaries and cultivation facilities are generating lucrative business opportunities for architects and contractors as more states legalize recreational marijuana. Recreational use is now permissible in 17 states plus Washington, D.C. About 55 million, or 16.9 percent, of Americans currently use marijuana, according to the National Center for Drug Abuse Statistics.One contractor, Northbrook, Illinois-based Mosaic Construction, …

A New Form of Experiential Retail Is Coming to A Storefront Near You

By Matt Silvers, vice president, Project Management Advisors Inc. From regional malls to small-town shopping districts, the United States has over 1 billion square feet of excess retail space, according to analysis from CoStar Group, with roughly 23 square feet of retail space for every person in the country. For reference, France, Germany, the United Kingdom and Japan all have less than 5 square feet per capita. This surplus is not a new problem, though it has been brought into sharp focus …

Now that the Dust is Settling – The Future of Retail in a Post-Pandemic World

By Carlos Lopez, Executive Vice President, Hanley Investment Group Real Estate AdvisorsThe fears from the COVID-19 pandemic and the accompanying government-mandated shutdowns and social distancing measures transformed the way Americans, lived, worked, shopped, ate, exercised and watched movies. In many ways, the habits formed during the shutdowns have opened up opportunities to radically change many aspects of life.For the retail industry, the impact of COVID-19 in 2020 was profoundly …

Vaccines, Stimulus Checks are Giving US Retail Sector a ‘Shot in the Arm,’ Says NRF Chief Economist

The U.S. federal government is playing an active role in consumer spending with three stimulus packages passed in the past 12 months, which is helping support the economy during this pandemic-induced recession. Americans have received thousands of dollars from the government and are opting to spend their newfound discretionary income on more goods and services, not to mention savings and paying bills.“It helped a lot of individuals get by,” says Jack Kleinhenz, chief economist for the …

Multifamily Sector Sees Positive Indicators from Healthy Midwest Economy

Focus on the Midwest Amid a global pandemic and its economic repercussions, the American Midwest has remained a place of comparative stability — and opportunity.Wide-open spaces and lower costs of living attract businesses and workers alike. Warehouses, distribution centers and transportation corridors bustle thanks to shifting supply chains and surges in deliveries. Educated workforces and leading universities and research centers nourish hubs in tech and life sciences. In short, …

Yardi Matrix: US Multifamily Rents Increase by 1.6 Percent in April, Biggest Gain During Pandemic

SANTA BARBARA, CALIF. — Following an unsteady year in 2020, the multifamily sector is taking a leap in the early half of 2021, according to the latest Yardi Matrix National Multifamily Report.In April, multifamily rents rose 1.6 percent year-over-year, which Yardi Matrix says is the highest increase seen since the beginning of the pandemic. The firm reports overall rents increased by $10 in April to $1,417 per month, the biggest single-month gain since June 2015.[caption …

California’s Population Exodus Arrives in Idaho

There has been much anecdotal discussion lately of Californians fleeing high-cost, high-density, high-traffic living for greener pastures, especially as COVID-19 made working from home a possibility for California’s high-tech workforce. This trend is not just a rumor for the residents of Idaho. Idaho is the second-fastest growing state in the nation[1], and Californians make up nearly 46 percent[2] of a new population influx that the state has experienced over the past five years.What is …

Flower Power: Commercial Architecture & Cannabis Facilities

By Jennifer Luoni, director of operations and architecture, and Lauren Nowicki, chief communications officer, Dacon Corp.From cultivation to curing, manufacturing cannabis is an exacting art that requires a careful, calibrated approach from selection, atmospheric, extraction and curing perspectives.The rapid rise in proposed health benefits from cannabis products has sparked interest in both pharmacological properties and extraction of phytocannabinoids. Former, free-flowing growing …

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