Development Magazine Summer 2014


Other Features In This Issue


  • NAIOP San Diego Instrumental in Overturning Linkage Fee Increase

    NAIOP San Diego achieved an important legislative victory this spring. The chapter successfully organized a coalition of more than 50 companies and business organizations, the Jobs Coalition, which led the recent “Stop the Jobs Tax” effort to overturn an ordinance adopted by the San Diego City Council.      

All Advocacy Articles

Development - Ownership

  • Pennsylvania's Pittsburgh Region: Keystone of Industrial Renaissance

    Pennsylvania Governor Tom Corbett has made economic development a top priority with his Jobs First Pennsylvania initiative, which was designed to encourage private sector investment. These incentives are just a few of the benefits helping businesses grow in Pennsylvania.      

  • Industrial Is Hot in Houston: Greenspoint Business Center

    Texas ranks second only to New York as the state with the most commercial real estate development activity. While Dallas gets much of the attention for industrial projects, Houston also has an active and growing industrial market. While the industrial real estate picture is strong today, it was bleak just six short years ago.      

  • Environmental Stewardship and the Modern Landlord: Lincoln Center, Tigard, Oregon

    When Shorenstein Properties LLC acquired Lincoln Center, a seven-building office campus in the suburban Portland market of Tigard in 2007, the company already was in the process of implementing a plan to transform its nationwide portfolio of Class A office properties into an environmentally sustainable one. Sustainability has been a major goal of Shorenstein Properties for many years.      

  • Alternative Desks

    The foundation of the office — the desk — is changing to meet the needs and wants of a changing workforce. Numerous studies have shown that sitting for prolonged periods can be as hazardous to your health as smoking. Yet prolonged standing at work is not the answer; it, too, has been linked to chronic heart and circulatory disorders. The solution, for many office workers, may be an adjustable-height desk or workstation, one that can be adjusted to sitting or standing heights.      

  • Building a NYC Neighborhood Atop a Rail Yard

    Construction began this spring on a platform that will provide the foundation for the eastern half of Hudson Yards, a new, 28-acre neighborhood in midtown Manhattan that will be the largest private development in U.S. history. The $20 billion project’s developers, Related Cos. and Oxford Property Group, faced a unique development challenge: how to construct almost 6 million square feet of new buildings above a working rail yard, where 30 railroad tracks converge into four near Penn Station?      

  • Conference Space Meets the Sharing Economy

    As companies shift to having more mobile workforces and more open office environments, one critical element that may be missing is private meeting space for both small and large groups. The building that can offer such an amenity on an as-needed basis could well have a leg up on the competition.      

  • Walgreens Opens First Net Zero Retail Store in U.S.

    While many retailers have embraced green initiatives and made their stores more energy efficient, Walgreens has taken the process one step further. The nation’s largest drugstore chain opened its first net zero energy retail store — defined as one that produces energy equal to or greater than the amount it consumes from the power grid — in Evanston, Illinois, last November.      

  • What Color Should Your Roof Be?

    Commercial rooftops come in many colors. Traditional “black” roofs absorb heat from the sun and contribute to urban heat islands, which in turn contribute to poor air quality, increased heat-related illnesses, increased energy use and more. White or “cool” roofs use reflective materials, which typically are light colored, to reflect the sun’s energy, resulting in rooftops that can be 50 to 60 degrees F cooler than a dark roof on a hot summer day.      

All Development - Ownership Articles

Marketing - Leasing

  • Attracting Office Tenants with Building Signage

    For that tough-to-close tenant, offering space on a building sign may be just the thing to seal the deal. Perceptive property owners will make this part of their negotiation process with both new tenants and lease renewals. Tenants, however, must understand that exterior signage is rarely a “given,” and that it typically must be negotiated upfront.      

  • Install Fiber Optic Cable to Stay Ahead of Tenant Demand

    Developers who are still installing Internet connections to their buildings through copper wire may lose tenants at the next lease renewal and risk early obsolescence if a recent report on Internet and data growth from Cisco Systems is to be believed.      

  • Landlord Rights and Tenant Bankruptcy

    For a commercial property lessor, the bankruptcy of a tenant presents unique challenges, especially in the case of a Chapter 11 “reorganization.” Bankruptcy means more than just the inability of the bankrupt tenant to pay any arrearage that may have accrued before the bankruptcy. Bankruptcy law gives the debtor the power to unilaterally “reject” the lease, while drastically limiting the landlord’s right to recover damages.      

  • Seattle Office Building Engages Tenants to Reduce Energy Use

    The Terry Thomas, a LEED Gold certified office building located in South Lake Union, Seattle, is celebrating its sixth birthday this year by engaging the building’s tenants in an attempt to decrease its energy use 17 percent by 2015. Since its completion in April 2008, the four-story, 40,000-square-foot building has used about 50 percent less energy than a comparable Class A office building.      

All Marketing - Leasing Articles
  • The New Industrial Revolution

    All real estate is local. While that paradigm holds true for warehouses, the most interesting aspect of industrial real estate is that the opposite is also true. It is the only property type in which an Ohio manufacturer who outsources production to China can end up creating demand for logistics space in Southern California’s Inland Empire. That is exactly what has happened during the last decade.      

  • The View From E.CON: The Future of Industrial Real Estate Is E-commerce

    The expanding world of e-commerce is rapidly and forever changing the way that goods are bought and sold — as well as how they are transported, stored and distributed. Industrial developers, owners and investors who can provide the types of facilities that e-commerce needs will survive and thrive during the next decade. But forecasting and understanding those needs is no easy task.      

  • By the Numbers: Airport Real Estate Outlook

    A recent JLL report reveals that real estate near airports “is commanding high rent premiums in mature logistics corridors.” Which airport markets offer the best investment and development opportunities over the next decade? The table and graph below provide some guidance.      

  • Display Real-Time Transit Information in Your Lobby

    Building owners and managers now can install flat-screen computer monitors in their building lobbies that will furnish real-time snapshots of all local transportation options, customized to each building’s location. TransitScreen, a new system currently available in 15 North American cities plus Honolulu, enables building tenants and visitors to select the best way to get home while also spotlighting the building as a transit hub.      

  • Integrating “New Manufacturing” Into U.S. Cities

    Local governments have long used zoning ordinances to separate manufacturing facilities (and the noise and pollution they produced) from residential, office and other commercial uses in U.S. cities. But over time, traditional manufacturing facilities (and the jobs they created) began to relocate away from large cities, first to parts of the country that offered cheaper labor and land, then offshore. Today, many of the manufactured goods purchased in the U.S. are made in other countries.      

  • Next-Generation Intermodal Facility

    When the Central Florida Intermodal Logistics Center opened this spring in Winter Haven, it created not only what is considered to be the most technologically advanced freight logistics terminal in the nation, but also one that could well become an economic engine for the region.      

  • Preparing Future Leaders at McCarthy

    Perhaps nothing tests the talents of a top executive more than an emergency. For example, the president of a construction company’s Jacksonville, Fla., office was awakened at his hotel at 3 a.m. and told that one of his buildings was on fire and that, tragically, three people had already died. He was needed in a meeting room in five minutes, where his senior management team was assembled and awaiting his direction.      

  • New & Noteworthy

    An assortment of brief facts and figures about new and noteworthy development projects, transactions and trends.      

All Business - Trends Articles


  • Foreign Investment in U.S. Real Estate: “The Spigot Is On”

    “They’ve all come to look for America,” sang Simon and Garfunkel back in the 1960s, and their lyrics continue to ring true. They — the Canadian, Chinese, Australian, European, Korean, Singaporean and Middle Eastern real estate investors — have been coming to America in ever-increasing numbers for the past couple of years. In an uncertain world, the U.S. commercial real estate market is the most sought-after on the planet because it is large, liquid and perceived as a safe haven for the long term.      

  • 2014 Guide to Capital Connections

    Looking for Capital? Capital Connections - the NAIOP guide to financing lists dozens of firms around the country.      

All Finance Articles


All Perspectives Articles