From the Editor: An Economic Upswing

Jennifer LeFurgy

As we begin to leave the worst of the pandemic behind us, optimism and enthusiasm are rising along with the temperatures. The economy is rebounding, personal savings levels are at an all-time high and unemployment levels continue to fall. 

Increased vaccination rates will inject more spending and activity such as travel and in-person dining and shopping. Industrial and residential markets lead the way while the future of office demand is in flux. Some companies are switching to all-remote work, while others will implement hybrid situations or business as usual with everyone back in the office by fall.  

Speaking of being back together this fall, I hope you can join us for what promises to be a terrific in-person meeting: CRE.Converge in Miami Beach, Florida, September 26-29. 

Enjoy your summer, 
Jennifer LeFurgy, Ph.D 
Editor-in-Chief 

In This Issue:

• With the COVID-19 pandemic starting to fade, here are eight crucial takeaways for the commercial real estate industry as it begins to adjust to a new normal.
• The fast-growing laboratory sciences sector can be complex to navigate for developers. Here’s a primer on what goes into building labs.
• The 2021 NAREIM Diversity & Inclusion Survey shows some progress in diversity efforts in real estate investment management, but a lot of work remains to be done.
• The commercial real estate industry faces unique challenges when it comes to designing workplace vaccination programs.
• Costs for construction materials keep climbing amid shortages and supply-chain issues, creating a Lemony Snicket-like “series of unfortunate events.”
• The rapid rise of e-commerce grocery fulfillment during the pandemic forced the commercial real estate industry to adapt quickly to meet soaring demand.
• The NAIOP Research Foundation recently commissioned an index that allows real estate professionals to compare development-approvals processes in different jurisdictions.
• Monumental staircases in buildings can inspire greater interaction, reduce energy costs, and improve employee health and fitness.
• When it comes to spec vs. build-to-suit projects, young, growing businesses might lean toward spec buildings; older, established firms could favor build-to-suits.
• A development near Chicago shows the potential for hybrid facilities where offices, warehouse space and manufacturing operations exist under one roof.
• A new framework for mitigating disease in the office focuses on air quality, changing behaviors and building occupant trust.
• Development magazine sits down to chat with Jean Kane, CEO of Colliers International-Minneapolis/St. Paul and 2014 NAIOP national chair.
• President Biden’s 10-year, $2.65 trillion infrastructure plan goes far beyond “roads and bridges” and would impact many industries, including commercial real estate.
• Modern facilities require strong internet connections to help tenants conduct business and to power the growing trend of investments in smart building technologies.of activating common areas in older retail destinations.
• Joint-venture investment structures are becoming more common in commercial real estate because they can diversify risk. 

Future NAIOP Events

• I.CON West 2021: The Industrial Conference, August 31-September 1, Long Beach, California
• CRE.Converge, September 27-29, Miami Beach, Florida
• I.CON East 2021: The Industrial Conference, November 11-12, Jersey City, New Jersey

Visit NAIOP events

Most Popular From Spring 2021

1. “How to Create a Superior Rail-Served Industrial Property”

2. “Life Sciences Boom Sparks Design Innovations for Commercial Buildings”

3. “How a Fully Remote Team Can Manage Large Construction Projects”

4. “Measuring the Impact of Smart Building Technology Investments”

5. “The Vaccines are Here. What Happens Next?”