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Fall 2019 Issue

building exterior

Building for Resiliency Ensures Physical—and Financial—Security

By: Camille Galdes

It’s not just about constructing properties that can survive disasters; a holistic approach to the built environment also adds value.      

shuttered mall

Retail-to-Warehouse Conversions Gain Momentum

By: Ron Derven

When other efforts to resuscitate a dying shopping mall fail, converting the facility to a warehouse or last-mile distribution center is an option to consider.      

redevelopment first phase

Port Covington: Building for Baltimore's Future

By: Danielle Bennings, Weller Development

A new waterfront development seeks to honor the city’s heritage while spurring innovation.      

Must-Read Articles

One Merriweather Office Building

One Merriweather: Under the Boardwalk

By: Brian Reetz and Anna Dennis, Design Collective
A stormwater-management project shows how practical solutions to the problem of runoff can be aesthetically pleasing, too.
capitol

Property Tax Battle Targets CRE

By: Rich Tucker
The split roll ballot initiative in California could lead to much higher assessments — and it could also happen in other parts of the U.S.
cannabis

Despite a Cannabis Boom, Real Estate and Banking Challenges Remain

By: Jonathan Havens and Anamika Roy, Saul Ewing Arnstein & Lehr LLP
Conflicting local and federal laws, along with NIMBYism, could be slowing investment in marijuana-related facilities.
coworking space

Coworking Flexes its Muscles

By: Trey Barrineau
Shared office space appears to be the fastest-growing trend in commercial real estate.
building renewal

How to Reposition a Building to Meet Changing Expectations

By: David Yuan, Robert Mankin and Chris Beza
Whether it’s replacing worn materials or an intensive intervention, architectural updates can enhance the value of a property.

Related Research and Publications

Office Space Demand Forecast, Second Quarter 2020

By: Hany Guirguis, Ph.D., Manhattan College and Timothy Savage, Ph.D., New York University Research Foundation
Due to the turmoil in the national economy, rising unemployment and continued uncertainty about future work arrangements, the U.S. office market absorption is forecast to decline into negative territory through the second quarter of 2021. The steepest declines may be experienced in the third quarter of 2020, with NAIOP’s model forecasting a drop of 16.3 million square feet. Absorption rates will increase as the economy begins to gain traction in 2021.

A New Look at Market Tier and Ranking Systems

By: Maria Sicola, Charles Warren, Ph.D., and Megan Weiner, CityStream Solutions, LLC Research Foundation
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.

Navigating a Safe Return to Work: Best Practices for U.S. Office Building Owners and Tenants

By: Shawn Moura, Ph.D., Director of Research, NAIOP NAIOP Research Foundation
Measures to contain the coronavirus outbreak temporarily slowed economic activity and dramatically reduced occupancies at many commercial buildings. As state and local governments outline plans for a phased reopening of the economy, office building owners and employers are formulating plans that will allow employees to return safely to work.

Perspectives

View All Perspectives

Six Students Receive NAIOP Diversity Scholarships

By: Hannah Buckles
For the fourth year, the association has awarded scholarships to graduate and undergraduate commercial real estate students from a wide range of backgrounds.

Chapter Profile: NAIOP Greater Toronto

By: Trey Barrineau
Canada’s largest city has a strong economy that’s attracting real estate investors from all over the world.

From the Editor: Connections, Resiliency, Giving Back

By: Jennifer LeFurgy, Ph.D.
In what has been the longest economic expansion since such records began in 1854, commercial real estate experienced tremendous gains, especially within the industrial and multifamily sectors.

Can We Fix the Interstate Highway System?

By: Robert Dunphy
A new study says tolls and gas taxes are possible funding solutions to pay for much-needed repairs to this critical piece of transportation infrastructure.

CEO on Leadership: Tony Panzica, CEO, Panzica Construction Company

By: Ron Derven
The leader of this Cleveland-based construction firm offers his perspectives on the industry and on transitioning his company to the next generation of leadership.

Finding Meaningful Ways to Give Back

By: Greg Fuller
During nearly every chapter visit, I’ve made it a priority to talk with Developing Leaders (DLs), our members who are 35 years of age or less.

Additional Articles

The Mezzanine Structured Finance Market is Here to Stay

By: Tom McCahill, EverWest
This popular investment tool that arose in the 1990s can offer notable advantages over other financing practices.

Raise the Roof, Boost the Value

By: Mason Harris, Rooflifters
Increasing clear heights in industrial properties can make older buildings suitable for modern logistics uses.
furniture as service

'Furniture as a Service' Brings Flexibility and Creativity to Office Spaces

By: Joey Kline, JLL
High-growth companies that are rapidly adding staff could be major beneficiaries.
financial return

Compare and Contrast: 1031 Exchanges and Opportunity Zones

By: Bruce Johnson, Capstan Tax Strategies
Both options can be good investment vehicles for commercial real estate.

Finding Solutions to the Workforce Skills Gap in Construction and Logistics

By: Shawn Moura, Ph.D., NAIOP
Developers are partnering with educators and local communities to launch new training and recruitment programs.
new and noteworthy

New & Noteworthy Projects

By: Trey Barrineau
An assortment of brief facts and figures about new and noteworthy development projects.
construction research lab

Co|Lab: A Hands-On Space for Innovative Construction

By: Trey Barrineau
HITT Contracting’s new facility aims to be a laboratory of cutting-edge, sustainable building products and technologies.

Research Foundation Report

This report examines how local governments are preparing for fully autonomous vehicles and to explore how future AV related policies could affect the commercial real estate industry.
Available Now!

Preparing for Autonomous Vehicles Report Cover