We asked some of our Visionaries: What major global events or trends have shaped your development and investment decisions this year?
“The advancements in logistics and distribution technology has changed the way our industry develops new speculative projects more in the last five years than in the 20 preceding years. We are constantly working with and learning from our consultants and tenants to make refinements to our building specifications so we can provide the greatest flexibility to our tenants. Adapting to new technology and the building requirements mandated by those developments (power and fiber infrastructure, building sizes and structural characteristics, etc.) will help us continue to build assets that retain value well beyond their first generation use.”
Kate Nolan Bryden, LEED AP® BD+C
Vice President Development
MRP | Industrial
“Continuing increases in construction costs have absolutely played a role in shaping development decisions this year both in my market and most others around the country. We have seen substantive moves upward in the pricing of both materials and construction labor, with at least some of the materials increases being driven by speculation surrounding tariffs announced this year and others that could be forthcoming. When you couple rising construction costs with increasing land prices, development in certain markets can become more challenging.”
Vice President, Market Leader
Liberty Property Trust