Research Reports

NAIOP’s latest research reports address how real properties, particularly office, industrial and mixed-use properties, impact and benefit communities throughout North America. These reports disseminate research findings for individuals and organizations engaged in real estate development, investment and operations to plan and develop better communities.

A New Look at Market Tier and Ranking Systems

A New Look at Market Tier and Ranking Systems

By: Maria Sicola, Charles Warren, PhD, and Megan Weiner, CityStream Solutions, LLC
March 17, 2020

Dividing and grouping the major metropolitan regions of the United States into ranked groups or “tiers” is a frequently used method to evaluate, prioritize and rank markets for investment. This project provides an understanding of the origins, methodologies and uses of market tier models.

industrial space demand

Industrial Space Demand Forecast, First Quarter 2020

By: Dr. Hany Guirguis, Manhattan College and Dr. Timothy Savage, New York University
February 26, 2020

Quarterly net absorption will remain at or above 50 million square feet on a sustained basis through Q2 2021.

Economic Impact 2020 US

Economic Impacts of Commercial Real Estate, 2020 U.S. Edition

By: Stephen S. Fuller, Ph.D.
February 03, 2020

The impact of new development and of the ongoing operations of existing commercial real estate buildings in the United States – office, industrial, warehouse and retail – has grown to support 9.2 million American jobs and contribute $1.14 trillion to the U.S. GDP in 2019, according to a new report by the NAIOP Research Foundation.

Repurposing Retail Centers

Repurposing Retail Centers: Profiles in Adaptation, Repositioning and Redevelopment

By: Jason Beske, AICP
December 23, 2019

The NAIOP Research Foundation commissioned this report to examine how developers are transforming struggling or closed malls into properties that fit within current market conditions and serve the needs of their surrounding communities.

Autonomous Vehicles

Preparing for Autonomous Vehicles: A Survey of Local Governments

By: David Dale-Johnson, Ph.D.
November 22, 2019

The NAIOP Research Foundation commissioned this report to examine how local governments are preparing for fully autonomous vehicles and to explore how future AV related policies could affect the commercial real estate industry.

office space demand

Office Space Demand Forecast, Fourth Quarter 2019

By: Hany Guirguis, Ph.D., and Joshua Harris, Ph.D., CRE, CAIA
November 18, 2019

The U.S. office market continues to perform as expected, with an average of 14.7 million square feet absorbed per quarter in 2019. Overall employment growth remains steady and is especially robust in the key office-using sector of Professional and Business Services, according to the U.S. Department of Labor’s Bureau of Labor Statistics.

industrial space demand

Industrial Space Demand Forecast, Third Quarter 2019

By: Dr. Hany Guirguis, Manhattan College and Dr. Joshua Harris, New York University
August 15, 2019

The forecast for net industrial space demand has decreased amid slower growth in the U.S. economy. Absorption is now expected to average 37 million square feet per quarter for the next two years, according to Dr. Hany Guirguis of Manhattan College and Dr. Joshua Harris of New York University. This is a significant slowdown from the average 60 million square feet of quarterly net absorption experienced during 2017 and 2018.

suburban office parks

Profiles in the Evolution of Suburban Office Parks

By: Dustin C. Read, Ph.D./J.D.
August 21, 2019

The NAIOP Research Foundation commissioned this report to identify ways that firms are revitalizing suburban office parks through redevelopment, rehabilitation and adaptive reuse. The author interviewed five developers who have recently updated suburban office parks in the United States and Canada to learn how they made these properties relevant for today’s market.

Construction Site

Addressing the Workforce Skills Gap in Construction and CRE-related Trades

By: Barry E. Stern, Ph.D.
July 11, 2019

The NAIOP Research Foundation commissioned this report to explore some of the contributing factors to the workforce shortage and how the construction and logistics industries can improve worker recruitment, training, productivity and retention.

office space demand

Office Space Demand Forecast, Second Quarter 2019

By: Dr. Harry Guirguis, Manhattan College, and Dr. Joshua Harris, New York University
May 15, 2019

The U.S. office market continues to expand ahead of forecast, posting 18 million square feet of net absorption in the fourth quarter of 2018 and 11 million square feet in the first quarter of 2019. Continued economic growth and increases in job creation are likely the main forces behind these levels of new leasing.

private equity fund

Creating a Private Equity Fund: A Guide for Real Estate Professionals

By: Jan A. deRoos, Ph.D., HVS Professor of Hotel Finance and Real Estate at SC Johnson College of Business, Cornell University and Shaun Bond, Ph.D., West Shell Jr. Chair in Real Estate at Lindner College of Business, University of Cincinnati
April 04, 2019

To help demystify private equity fund formation and operation, the NAIOP Research Foundation commissioned this white paper. It is geared toward those who have limited familiarity with the process and want to learn the basics.

industrial space demand

Industrial Space Demand Forecast, First Quarter 2019

By: Dr. Hany Guirguis, Manhattan College and Dr. Joshua Harris, New York University
February 22, 2019

The forecast for net industrial space demand will remain steady in 2019.

economic impacts Canada

Economic Impacts of Commercial Real Estate in Canada, 2018 Edition

By: The Conference Board of Canada
January 31, 2019

The main purpose of this report is to quantify the economic impact of commercial real estate investment in Canada, with a specific focus on estimating the impact tied to investment in the country’s largest Census Metropolitan Areas.

economic impacts commercial real estate

Economic Impacts of Commercial Real Estate, 2019 Edition

By: Stephen S. Fuller, Ph.D.
January 31, 2019

Development and construction of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels. This annual study, “The Economic Impacts of Commercial Real Estate,” published by the NAIOP Research Foundation, measures the contribution to GDP, salaries and wages generated and jobs supported from the development and operations of commercial real estate.

beacons sensors

Beacons and Sensors in Commercial Real Estate

By: NAIOP Research Foundation
December 06, 2018

This brief provides an overview of some of the ways that simple, tiny, affordable and ubiquitous sensors are being used in commercial real estate settings. It addresses radio-frequency identification, geofencing, beacon technology, and WELL™ and RESET™ technologies, and it concludes with the broader challenges associated with using networked digital data-collection systems.

big data puzzle

The Office Property and Big Data Puzzle: Putting the Pieces Together

By: Kimberly Winson-Geideman, Ph.D., Senior Lecturer, Property, University of Melbourne, Melbourne School of Design, Parkville, Victoria, Australia
August 31, 2018

The use of big data offers great potential, while it also presents challenges. This white paper seeks to define big data and to identify some of the obstacles and opportunities associated with it in the context of managing office properties. It includes a general overview of the topic as well as examples of how property managers are collecting and analyzing data within their office properties.

economic impacts commercial real estate

Economic Impacts of Commercial Real Estate, 2017 Edition

By: Stephen S. Fuller, Ph.D.
February 02, 2017

Development and construction of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels. This annual study, “The Economic Impacts of Commercial Real Estate,” published by the NAIOP Research Foundation, measures the contribution to GDP, salaries and wages generated and jobs supported from the development and operations of commercial real estate.

skysong tensile structure

Case Studies in Innovation District Planning and Development

By: Dustin C. Read, Ph.D., J.D., Assistant Professor of Property Management and Real Estate, Virginia Tech, Blacksburg, Virginia
July 26, 2016

This report provides those interested in innovation district development with a better understanding of the factors contributing to the success of these projects, as well as the challenges they must frequently overcome. It presents case studies of four projects in different phases of development and offers suggested “best practices” for real estate practitioners and policymakers.

economic impacts commercial real estate

Economic Impacts of Commercial Real Estate, 2016 Edition

By: Stephen S. Fuller, Ph.D.
July 13, 2016

Development and construction of new commercial real estate – office, industrial, warehouse and retail – continues to be a powerful contributor to the U.S. and individual state economies, supporting approximately 3.2 million American jobs and contributing $450 billion to U.S. GDP in 2015, according to a new report released by the NAIOP Research Foundation.

ecommerce fulfillment center

Are E-commerce Fulfillment Centers Valued Differently Than Warehouses And Distribution Centers?

By: Dr. Jonathan A. Wiley
October 20, 2015

Are fulfillment centers distinct real estate products? Some in the industry believe they are; others believe they are not. According to the results of this analysis, fulfillment centers are not significantly different from nor significantly more valuable than other types of warehouse and distribution facilities.

ecommerce

The Promise of E-commerce: Impacts on Retail and Industrial Real Estate

By: Curtis D. Spencer, President, IMS Worldwide and Steve Schellenberg, Vice President, IMS Worldwide
March 17, 2015

As e-commerce sales continue their robust growth, manufacturers, transportation providers, distribution and fulfillment center operators and retailers all are being pressured to modify the retail logistics chain.

US ports logistics

Select U.S. Ports Prepare For Panama Canal Expansion

By: Grace Wang, Assistant Professor, Maritime Administration, Texas A&M University at Galveston; Anthony M. Pagano, Director, Center for Supply Chain Management and Logistics, University of Illinois at Chicago
February 18, 2015

The report focuses on nine container ports on the nation’s East and South coasts: the East Coast ports of New York and New Jersey and Baltimore; the Southeast ports of Virginia, Charleston and Savannah; the Florida ports of Miami, Jacksonville and Everglades; and the Gulf port of Houston.

sharing economy

Exploring the New Sharing Economy

By: John Madden, Director of Sustainability and Engineering Campus + Community Planning, University of British Columbia
April 14, 2015

The “sharing economy” has been receiving a lot of buzz across popular media, academic and business circles, and local government as well as social enterprises. As the label suggests, the sharing economy is a means of sharing goods, services, ideas, information and skills through a network of individuals, often facilitated through social networks via computers and mobile apps.

office locations

Preferred Office Locations: Comparing Location Preferences and Performance of Office Space in CBDs, Suburban Vibrant Centers and Suburban Areas

By: Emil Malizia
November 07, 2014

Where do today’s office tenants want to be located? This comprehensive study, which combines expert opinion and accurate property-level data, provides reliable information about emerging location preferences across major U.S. office markets and the comparative performance of office space in CBDs, suburban vibrant centers — defined as amenity-rich, mixed-use, “live, work, play” locations — and typical single-use suburban areas.

workplace

Workplace Innovation Today: The Coworking Center

By: Andrea P. Foertsch, Founder, Disruptive Space; Principal, Melrose Real Estate Strategies; Visiting Lecturer, Baker Program in Real Estate, Cornell University
January 16, 2014

Picture an office filled with people. But imagine that some of them are freelance writers, graphic designers, programmers and app developers; others are teleworkers; still others are in the process of forming startup companies or working for very small firms. The office may simply be a large room where people work at couches, tables and bench desks, or it may contain carrels, cubicles, private offices and even classrooms or auditoriums. What is this place? It is a coworking center.

Chandon report

Performance and Timing of Secondary Market Investment Activity

By: Sam Chandan, President & Chief Economist, Chandan Economics
November 21, 2013

Conditions are ripe for a shift in focus to commercial real estate’s secondary markets. Bolstered by the potential for more stable national economic trends, buyers’ improving tolerance for risk-taking, and a widening disparity in yields across primary and secondary markets, investors are broadening their sights.

Ronderos Report

Stabilization of the US Manufacturing Sector and Its Impact on Industrial Space

By: L. Nicholas Ronderos, Regional Planning Association
June 05, 2013

A study by the NAIOP Research Foundation concludes that the reshoring trend of manufacturing industries to the United States yields stabilization of jobs, but not net growth. Some industries will add jobs as others shed them, resulting in no change to the total number of manufacturing jobs but halting a decades-long trend of losing more jobs than added.

The Contribution of the Commercial Real Estate Sector to the Canadian Economy

The Contribution of the Commercial Real Estate Sector to the Canadian Economy

By: Real Property Association of Canada (REALpac) and NAIOP Research Foundation; Prepared by Altus Group Economic Consulting
September 01, 2012

Prepared by Altus Group Economic Consulting, this report shows that capital investment in the CRE Sector totaled some $21.6 billion in 2011, accounting for about half of the total spending in Canada on non-residential construction.

MIddle Rings Reports

A Development Model for the Middle Ring Suburbs

By: Alexander d'Hooghe, ORG
March 01, 2012

This research provides a development model by first analyzing the complexities of the middle ring development process and then introducing templates for development, design and management that might unlock these sites' potential.

The Complexity of Urban Waterfront Redevelopment

The Complexity of Urban Waterfront Redevelopment

By: Barry F. Hersh, New York University Schack Institute of Real Estate
July 01, 2012

Waterfront brownfield regeneration is extraordinarily complex; incorporating ecology, land use, community benefits, hydrology, real estate economics, design and a host of associated disciplines. There's also an array of regulatory and funding agencies, at federal, state and local levels. The mixed-use redevelopment of formerly contaminated waterfronts has become a key but also difficult part of urban revitalization and a significant real estate opportunity.

Solar Technology for Commercial Property Owners

Solar Technology Reference Guide

By: Aaron Binkley
January 01, 2012

The Solar Technology Reference Guide enables commercial property owners to take an active role in deciding which solar panel products are best-suited to install on their buildings. The guide identifies the benefits and limitations of a range of photovoltaic modules (i.e. solar panels) on the market today, such as glass laminate modules, tubular modules, flexible roll thin film modules, fiberglass-backed modules, and concentrator modules.

How Fuel Costs Affect Logistics Strategies

How Fuel Costs Affect Logistics Strategies

By: Leonard Sahling
February 01, 2012

Rising fuel costs have caused freight transportation to become the largest, most volatile cost component of companies' supply chain/logistics operation, accounting for about 63 percent of total U.S. logistics costs and 6 percent of GDP. With companies under mounting pressure to contain or offset the increases in freight transportation costs, supply chain executives have been tasked with figuring out how to squeeze more capacity and efficiency out of the existing systems.

Borderless Marketplace

The New Borderless Marketplace: Repositioning Retail and Warehouse Properties for Tomorrow

By: Curtis Spencer, IMS Worldwide
April 01, 2012

This whitepaper addresses trends and strategies needed and how the retail experience will change over the next five years.

windmill

Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

By: Ben Hoen, Ryan Wiser, Peter Cappers, Mark Thayer and Gautam Sethi
April 01, 2011

This paper studies whether residential property values may be adversely affected by wind energy facilities. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities.

Commercial Office Market and the Markup for Full Service Leases

The Commercial Office Market and the Markup for Full Service Leases

By: Jonathan A. Wiley and Thomas M. Springer, Clemson University
April 01, 2011

Because landlords assume all of the operating expense risk, rents for gross leases exceed those for triple-net leases. The markup for gross leases varies between properties and across markets. In this study, we develop a theory explaining the spread between gross and triple-net rents for office space across urban markets.

Political Economy of Green Industrial Warehouses

The Political Economy of Green Industrial Warehouses

By: M. Harrison, Texas Tech University and Michael J. Seiler, Old Dominion
April 01, 2011

This research found that "green" warehouses in politically conservative areas rent at a significant discount relatively to their non-certified counterparts, while similar properties in politically liberal areas rent at a significant premium.

NAIOP Confidence Report

NAIOP Confidence Report

By: James R. DeLisle, Ph.D, NAIOP Research Foundation Distinguished Fellow
April 26, 2011

NAIOP surveyed the major players in commercial real estate for their predictions on market conditions with respect to the economy, capital markets and development potential. The executive summary results of this April 2011 survey including analysis provide useful insights. A webinar presentation of the results is also available.

Efficacy of Mixed Used Development

An Empirical Study of the Efficacy of Mixed-Use Development - The Seattle Experience

By: James R. DeLisle and Terry V. Grissom
April 01, 2011

This report identifies issues such as density, growth management and accessibility, as well as the current state of knowledge on mixed-use development. It then explores the mixed-use experience in Seattle which spans two decades, making it a living laboratory setting for evaluating key success factors.

Spatial Penetration and Performance of LEED Ratings Certification

Spatial Penetration and Performance of LEED Ratings & Certification Levels Among Office Buildings

By: Dr. Sofia Dermisi, Roosevelt University
April 01, 2011

This paper focuses on class A and B office buildings across the U.S. with 50,000 square feet or more and has a threefold goal: i) provide an overview of the office building distribution among the ratings and certification levels from the inception of the USGBC until today; ii) examine the spatial penetration of the ratings and certification levels across the mainland U.S. states and iii) examine closely the rent and vacancy performance of LEED-EB before and after their designation while controlling for the latest financial crisis.

Trends in Global Manufacturing

Trends in Global Manufacturing, Goods Movement and Consumption

By: Curtis Spencer, President, IMS Worldwide, Inc.
September 01, 2010

This white paper looked at significant logistics drivers which may impact industrial space over the next 10 years, including an analysis of which ports will benefit by the expansion of the Panama Canal and how this will affect local, regional and inland industrial space in the distribution sector.

Trends and Industries driving Warehouse and Distribution Growth

Logistics Trends and Specific Industries That Will Drive Warehouse and Distribution Growth and Demand for Space

By: L. Nicolas Ronderos, Regional Plan Association
March 01, 2010

This research project identified the logistics trends and specific industries that will drive warehouse and distribution growth and demand for space over the next decade (2008-2018). Research is based on employee ratios, employment reports, and logistics building inventory.

Rooftop Revenue by use of Energy Harvesting

Rooftop Revenue: Making Underutilized Space Profitable Through Energy Harvesting

By: Marci DeVries, Soleil Solar
August 01, 2010

This white paper helps owners/developers make a decision about which (if any) energy-harvesting devices to install on their properties. Commercial real estate property owners will find a wealth of information on installations, maintenance, reliability and financial returns.

Effect of Past Crises on US Downtown Office Property

Effect of Past Crises on US Downtown Office Property Income and Expenses

By: Dr. Sofia Dermisi, Roosevelt University
April 01, 2010

Economic, real estate, oil and other crises can cause significant lack of confidence and recessions, which eventually affect office markets. This paper studies past crises and their effects on downtown office market trends across the U.S. and is pivotal in the estimation of current short and medium-term market responses.

Assessing Key Employment Trends

Assessing Key Employment Trends Driving Commercial Real Estate Development

By: Dr. Donald Jud, University of North Carolina at Greensboro
September 01, 2009

This report explains the relationship between key employment trends and the demand for office and industrial space. Drawing on Bureau of Labor Statistics data from 2000-2009, the research indicated: central-city counties vs. metropolitan fringe counties, the effect of the recession beginning in 2007 and factors influencing change in growth patterns.

Going Green - Tips Tools and Examples

Going Green: Tips, Tools and Examples from the Field

By: Abigail C. Johnson, Abacus Property Solutions
March 01, 2009

This research report identified various green strategies that can be used to improve the sustainability of a building while still meeting return-on-investment objectives. Included in the report are recommendations concerning: vehicular pavement; pedestrian pavement; irrigation; windows; roof; HVAC; and interior lighting.

New Age of the Trade of The Americas

The New Age of Trade: The Americas

By: Maria T. Sicola, Executive Managing Director, Research, Cushman & Wakefield, Inc.
January 01, 2009

The report provides strategic intelligence regarding the most significant trends shaping industrial markets across North America. Trends and issues influencing warehousing are covered, including NAFTA; the Panama Canal expansion; the role of major ports and South American growth in import and export.

Predictors of Commercial Real Estate Development

Predictors of Commercial Real Estate Development

By: Andrew G. Mueller and Dr. Glenn R. Mueller, University of Denver
January 01, 2009

This research identified the economic indicators that drive new development of commercial real estate for each property type at the national and MSA level. These indicators will help with forecasting: future demand for space and leasing; competition in specific markets and across property types; and more accurate feasibility studies for future projects.

Mixed Use Price Premiums

Mixed-Use Price Premiums

By: Dr. Dominic F. Minadeo, Colliers Turley Martin Tucker
April 01, 2009

This research report answers the question, "Does one square foot of office or retail in a mixed-use development garner higher rents per square foot than a comparable product in a single use development?" Eight office markets in the Southeast and Midwest were studied with mixed results.

Impact of the Hispanic Population

Measuring the Impact of Hispanic Population Growth on the Location of and Demand for Commercial Real Estate in the U.S.

By: G. Donald Jud, PhD, Bryan School of Business and Economics, University of North Carolina at Greensboro
May 01, 2008

The expected growth of the Hispanic population will impact the location and demand for commercial real estate in the United States. The report contains economic impact data for 50 states and major metropolitan areas.

Exploration of LEED Design Approaches

Exploration of LEED Design Approaches for Warehouse and Distribution Centers

By: Edmund Klimek, AIA, KSS Architects
December 01, 2008

The research examined sustainable design practices particular to warehouse and distribution centers and offered recommendations organized around the LEED Core and Shell approach that could readily be achieved within standard design/construction approaches; points that address the unique characteristics of distribution centers as a building type. The report is currently under review by the U.S. Green Building Council (USGBC).

property investment

Value Property Premium: Is It Risker?

By: Kwame Addae-Dapaah, National University of Singapore and Paul Asabere, Temple University
April 01, 2008

This study revisits the value property premium anomaly by premising analysis on Tokyo office property market data from 1997Q1 to 2007Q3; which shows that property investors could substantially improve their portfolio performance by investing in value office properties.

warehouse

Butterfly Spotting: An Industrial Real Estate Perspective on Globalization and Transnational Economics

By: Butterfly Spotting: An Industrial Real Estate Perspective on Globalization and Transnational Economics
April 01, 2008

Economic globalization, outsourcing, transnational property, economic base theory, global economic base category, GEBC, industrial properties

An Analyis of the Feasibility of Mixed Use Development

An Analysis of the Feasibility of Mixed-Use Development

By: Joseph S. Rabianski, PhD, CRE, Department of Real Estate, Georgia State University
November 01, 2007

This report covers the factors that affect financial feasibility of mixed-use development: economic and market; financial; physical; design and public issues.

Commercial Real Estate in a Flat World

Commercial Real Estate in a Flat World

By: David Pearce Snyder
November 01, 2007

This research examined how infomating, outsourcing, home-basing, off-shoring/in-shoring, e-learning and e-tailing - can be expected to impact the staffing and facilities (and ultimately, the demand for space) of five major classes of enterprise in the five sustainable markets: retail trade; professional, scientific and technical services; employment services; finance, insurance and banking; and transportation and warehousing.

Green Building Incentives That Work

Green Building Incentives That Work

By: Jerry Yudelson, Yudelson Associates
November 01, 2007

This study covered the scope of green building incentives being offered across state and local governments in the U.S. as of August 2007 to assist developers who want to build green; includes an Appendix of local government programs, policies and incentives by state and city.

How to Calculate Economic Contribution

How to Calculate the Economic Contribution of Office, Industrial, and Retail Real Estate to the Local Community

By: Stephen S. Fuller, PhD, George Mason University
February 01, 2005

This project is comprised of a form listing the sources of the contributions that office, industrial, office/tech and retail development make to their communities through taxes, job growth, etc. and instructions on how to locate the specific information needed to fill in the form and calculate the positive economic impact to your community.

Developing Influencer Relationships

Developing Influencer Relationships to Accelerate Development Success

By: Jonathan Feinstein, SVP, Vanasse Hangen Brustlin; Partner, Triluna; Lois Kelly, Partner, Triluna; and Walter J. Carl, PhD, Assistant Professor, Northeastern University
September 01, 2004

This report provides case studies of how developers have successfully worked with influencers to move new commercial real estate projects forward. Learn how to work more effectively with environmental and smart growth opinion leaders.

The Rebirth of Older Industrial Cities

The Rebirth of Older Industrial Cities

By: David Soule, Joan Fitzgerald, and Barry Bluestone from the Center for Urban and Regional Policy, Northeastern University
April 01, 2004

Strategies are offered to overcome obstacles to urban redevelopment based on five sites in Massachusetts and six key industrial sectors. This report addresses problems related to zoning, brownfields, permitting and related factors.

Financing Regional Infrastructure

Financing Regional Infrastructure

By: Dr. Robert Schmidt, J.D., PhD, Quest Technology, Inc.
January 01, 2002

This report examines infrastructure planning and financing on both a regional and local level. User charges and benefit capture methods are analyzed as well as cost of community services and growth subsidies; includes case studies on Atlanta, Las Vegas, Twin Cities and Portland, Oregon.