Major retrofits and the repurposing of older buildings have become leading trends as urbanism and millennials drive transformative change. As 2014 winds down, we find the real estate industry in the throes of transformative change thanks to economic recovery and a fast-evolving workforce that continues to redefine corporate space requirements.

Winter 2014

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rendering of the exterior view of a cold storage facility

Edge Markets Go Mainstream

By: Julia Georgules and Phil Ryan, respectively, vice president/director of research and a research analyst, JLL

The residential population of San Francisco’s Mid-Market district has spiked by 38.8 percent since 2000. The typical Dumbo household earns $123,675 per year, which is among the highest incomes in Brooklyn. These noncore submarkets have witnessed phenomenal demographic change over the past few years.      

interior view of an office suite

PacMutual Campus: From Aging LA Landmark to Lifestyle Offices

By: Tyson Strutzenberg, senior vice president of asset management and development, and Marc Gittleman, senior vice president of third-party management solutions, Rising Realty Partners

When Rising Realty Partners purchased the historic PacMutual Campus, a 425,000-square-foot beaux arts campus of three interconnected office buildings in downtown Los Angeles it was a tired structure suffering from years of neglect. Once a jewel of downtown LA, the aging complex had faded into obscurity.      

the trading floor in an office building

Gavilon World Headquarters: Office Space and Trading Floor in Downtown Omaha

By: Dave Menke, president, Opus Development Company LLC

Grain and commodity trading firm Gavilon faced a challenge in 2012. Having outgrown its existing space at ConAgra’s corporate campus, Gavilon could not find a suitable alternative. With a limited supply of new office space and increased demand in the market over the past four years, flexible office space large enough for Gavilon’s growing workforce was not available.      

exterior view of an industrial building

Liberty Sky Harbor Center: Transformation in Phoenix

By: Robbie Tarpley Raffish, president, a.s.a.p.r., and a consultant to Liberty Property Trust for 20 years

Run-down. Obsolete. Outmoded. Those were the kinder words real estate brokers had for the 35-year-old warehouse at 2626 South Seventh Street in Phoenix. The hulking 240,000-square-foot building in the Sky Harbor Airport submarket was long considered a decaying lost cause.      

group of people at a reception

The View From Development '14: Disruptors Abound

By: Kim Long, founder of “The American Forecaster Almanac,” an annual report on U.S. consumer and business trends. Ron Derven, Margarita Foster and Julie Stern contributed to this article.

The high altitude and thin air of Denver provided an appropriate atmosphere for exploring current trends and coming scenarios at NAIOP’s Development '14: The Meeting for Commercial Real Estate. More than 1,100 people gathered there on October 27-29, a record number for a NAIOP conference.