This year’s award winner has long been a pioneer in the development of top-quality commercial real estate assets. Read the Cover Story

Fall 2017 Issue

long beach civic center

CRE Development Opportunities In Public-private Infrastructure Partnerships

By: James M. Mulligan, partner, and Andrea Austin, associate, in the Denver office of Husch Blackwell LLP

Public-private partnerships are emerging as a mechanism that marries the funding of public facilities like courthouses, libraries, government offices and more with private commercial development.      

modern distribution facility

From Obsolete Property to Modern Distribution Facility

By: Matt Goode, principal with Venture One Real Estate

A great location plus smart design result in fast lease-up of a last-mile distribution facility on Chicago’s South Side      

farm chic design

The Summit at Fritz Farm

By: Lindsay Bayer Shipp, retail brand strategist and Molly Mackenzie, chief investment officer for Bayer Properties

Engaging regional “brand ambassadors” results in authentic placemaking for a mixed-use retail destination in Lexington, Kentucky.      

Must-Read Articles

person typing on laptop

Trends in Square Feet per Office Employee: An Update

By: Adrian Ponsen, senior real estate economist, CoStar Portfolio Strategy
Is the push for office space efficiency a silent killer for the U.S. office market?
reinventing mall experience

Reinventing the Mall Shopping Experience

By: By Najla Kayyem, senior vice president of marketing, Pacific Retail Capital Partners
A shopping center owner uses digital technology to transform a traditional retail center into a vibrant community hub.
hudson yards

Master Planning: A Powerful Tool to Add Value to CRE Developments

By: Nitin B. Desai and Philip Wilkinson Jr., AIA, architects, AE7 Planners and Architects
A master plan can help a developer strike the right balance between long-range investment objectives and the right mix of programmatic elements.
notch lounge open air

Bringing the Outside In

By: Roger Heerema, a principal with Wright Heerema Architects, NAIOP Chicago’s 2016 Design Firm of the Year
A fresh-air, 28th-floor amenity lounge has transformed a Chicago office tower.
five year holding returns

Evaluating Cap Rate Investment Strategies

By: Mark J. Eppli, Bell chair in real estate, Marquette University, and a NAIOP Distinguished Fellow
Which cap rate investment strategy generates the best return?
office building

Smart Energy Retrofit in Chicago

By: Consolato Gattuso, Zeller Realty Group
Installing wireless pneumatic thermostats controlled by smart buildings software at 311 South Wacker Drive has significantly reduced HVAC energy use and increased tenant comfort.

Related Research and Publications

Sustainable Brownfield Redevelopment

By: Christopher De Sousa, Ph.D., MCIP, RPP, Professor, School of Urban and Regional Planning, Toronto Metropolitan University Research Foundation

Former industrial sites and other properties that may be contaminated – commonly called brownfields – can be viable targets for redevelopment, however the costs and risks associated with environmental remediation often make these projects challenging. The NAIOP Research Foundation commissioned this brief to offer insights into the key considerations that guide sustainable brownfield redevelopment.

Office Space Demand Forecast, Fourth Quarter 2022

By: Hany Guirguis, Ph.D., Manhattan College and Michael J. Seiler, DBA, College of William & Mary Research Foundation
Net office space absorption in the fourth quarter of 2022 is forecast to be 7.1 million square feet, with absorption in 2023 forecast to slow to 8.1 million square feet for the entire year. Moving forward, the forecast projects that absorption in the first three quarters of 2024 will total 13.3 million square feet.

The Role of Data Analytics in Commercial Real Estate Siting, Design and Valuation Decisions

By: Clifford A. Lipscomb, Ph.D., MRICS NAIOP Research Foundation
To gain a sense of how CRE firms are using advanced data analytics, the NAIOP Research Foundation commissioned this report to examine applications in site selection, design and valuation for commercial buildings. The author conducted secondary research and interviewed brokers, data providers, investors, developers and professionals at CRE technology firms.

Perspectives

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CEO on Leadership: Adrian G. Washington, Founder and CEO, Neighborhood Development Co.

By: Ron Derven
The leader of this Washington, D.C.-based firm talks about the challenges of growing his company into a multifamily developer of affordable and market-rate housing and commercial projects.

From the Editor: Two Steps Forward, One Step Back

By: Jennifer LeFurgy
Return to the workplace for some has been delayed, yet the office sector continues to rebound, with absorption inching toward the positive.

Getting to Know New Chair Jeff Milanaik

By: Jeff Milanaik
I’m excited to lead NAIOP in 2022, and I look forward to meeting so many of you as I visit chapters this year.

NAIOP Chapter Merit Awards Salute Outstanding Efforts and Individuals

By: Trey Barrineau
Education, membership, advocacy and special events were among the programs honored in 2021.

The Most Valuable Asset: Expanding the CRE Talent Pool

By: Rochelle Broder-Singer
There are many ways to identify and recruit new workers for the industry.

Additional Articles

Creating New Housing Units From Thin Air

By: Yat-Pang Au, CEO, Veritas Investments
San Francisco has passed legislation that enables the development of accessory dwelling units in previously underused parts of existing multifamily buildings.

Ambient Scenting and Commercial Real Estate

By: Adrienne Schmitz, a freelance real estate writer and researcher
Retailers, shopping centers, hotels and even hospitals are using scent to enhance the user experience and improve their bottom line.

Space as a Service

By: Antony Slumbers, digital transformation in real estate consultant and writer
As work becomes more flexible, so will the workplace.

Private Equity Finance and Securities Compliance for Real Estate Developers

By: Suzanne Mulvihill, managing partner, Haight Brown & Bonesteel’s Sacramento office, and leader of the firm’s transactional practice group
Developers and property owners must understand the risks involved in recruiting passive investors.

Tenant Communications: Connecting With People Who Are Always Connected

By: Michael Broder, CEO, Brightline Strategies, and principal, Rockerbox, a joint venture with McWilliams|Ballard
How you say things says a lot, and can have a big impact on tenant retention and rent premiums.

Exclusivity Provisions in Commercial Leases

By: Steven D. Weber, founding shareholder, Weber Law
Exclusivity provisions can give tenants the right to operate a particular type of business as well as prevent other tenants from using their space in certain ways, with lasting implications for both landlords and tenants.

Negotiating Loan Guarantees and Cost Overruns in Development Joint Venture Agreements

By: Eric D. Lemont, real estate partner in the Boston office of Sullivan & Worcester LLP
Real estate development joint ventures often require lengthy and complex negotiations regarding construction loan guarantees and cost overruns.

The Rise of Commercial Edible Garden Beds

By: Lara Hermanson, cofounder and principal, Farmscape
Incorporating agriculture into office and industrial parks can provide multiple benefits for developers, property owners and tenants, including expedited development approvals.

Farm-to-table Dining Goes High Tech at Microsoft

By: Mark Freeman, senior manager, global dining, Microsoft
Microsoft’s high-tech urban farming project provides employees and guests with thousands of pounds of lettuce and microgreens each year.

Electric Shuttle Buses Come to Chicago

By: Amanda Tran, a freelance real estate writer and researcher
JLL and Proterra provide the nation’s first all-battery-powered commercial electric bus fleet.

Ride-hailing Becomes a CRE Amenity

By: Camille Galdes, an urban policy writer and researcher
Transportation demand management strategies, which increasingly include ride-hailing services, have evolved from a negotiating tool to an amenity.

Construction Defects Litigation Reform in Colorado

By: Kathie Barstnar, executive director, NAIOP Colorado
Five years, a coalition of more than 55 organizations and 41 mayors, nearly $900,000 spent on social media and communications, and countless hours at the negotiating table finally resulted in victory around the issue of “construction defects litigation reform” in Colorado.

NAIOP 2017 Guide to the Midwest

Looking for an investment partner, an interior designer, a contractor or a great location for your next development project? The NAIOP guide in this issue lists dozens of firms throughout the Midwest.
watermark Tempe

New & Noteworthy

By: Julie D. Stern, managing editor, Development
An assortment of brief facts and figures about new and noteworthy development projects.

Research Foundation Report

Former industrial sites and other properties that may be contaminated – commonly called brownfields – can be viable targets for redevelopment, however the costs and risks associated with environmental remediation often make these projects challenging. The NAIOP Research Foundation commissioned this brief to offer insights into the key considerations that guide sustainable brownfield redevelopment. Available Now!

Sustainable Brownfield Redevelopment Cover