REBusinessOnline

Industrial Development Erupts Overnight in Plano, McKinney

While most of the Dallas/Fort Worth (DFW) area has seen a boom in industrial construction over the past decade, the Plano and McKinney submarkets have been relatively quiet until recently. Due to significant growth in residential development in the northeastern side of the metroplex, e-commerce and last-mile distribution users are increasingly demanding space in these areas. Consequently, these submarkets are no longer considered just a home for technology-based tenants. Several new projects, …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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