From data usage to 3D printing, construction technology is poised to blast off this year. The construction industry had a challenging but positive year in 2021, and the growth of construction technology has been one of the bright spots. With the pandemic forcing...
High demand and limited supply have led to dramatic increases in domestic steel and lumber prices this year, significantly increasing the cost of commercial real estate development. By early May, both steel and lumber prices had more than tripled since late last year,...
As state agencies wait on a possible infrastructure bill from the Biden administration, many are better prepared than they were a decade ago to manage hundreds of billions of dollars in new work. The Federal Highway Administration incentivized state DOTs to...
2020 has been undeniably a devastating year for everyone and every field. The lockdowns, quarantines, social distancing, and the casualties caused by the virus has shaken humanity beyond imagination. Although the construction sector faced a significantly worst side...
Public Storage has acquired 24 properties with 2.3 million square feet of space from Beyond Self Storage in the first phase of a 36-property portfolio transaction totaling 3.6 million square feet and valued at $528 million. The first phase includes existing properties...
Self storage continued to prove its resilient nature in October, with significant improvement in street rate performance across the U.S. On a year-over-year basis, street-rate rents increased 2.7 percent for the average 10×10 non-climate-controlled and 0.8 percent for...
In commercial real estate, the impact of the coronavirus pandemic and related shutdowns has led to profound and seismic shifts. To some extent, those shifts reflect an acceleration of trends that were already underway. One of the most noteworthy of those is the...
Amazon has closed on a warehouse lease at Thor Equities’ industrial development in Red Hook, Commercial Observer has learned. The e-commerce giant signed a 20-year lease for 311,796 square feet at 280 Richards Street, an industrial development on the Brooklyn...
A confluence of factors conspired to drive down rents at self-storage properties earlier in the year, but now with new demand generated by the broader disruptions caused by the COVID-19 pandemic, the sector’s fortunes have stabilized. Though the majority of properties...
Prologis, the world’s largest owner of commercial warehouses, estimates that e-commerce customers require 1.2 million square feet of distribution space to support each $1 billion in sales. That figure helps explain why leasing activity rebounded quickly after a...
The pandemic’s substantial effects continued to burden the U.S. economy and all the facets of commercial real estate, yet the self storage sector proved to be resilient in July. Although on a year-over-year basis, street-rate rents declined 2.6 percent for the average...
Travel restrictions due to the COVID-19 pandemic have severely impacted the supply chain for the foreseeable future. With some estimates showing that the coronavirus will be part of life for years to come, businesses are quickly adapting business strategy to move...
The Food Safety Modernization Act was signed in 2011 after a spike in foodborne illness cases. Even though that law was adopted almost a decade ago, the cold storage and food industries are still adapting to it, according to Brian Niven, vice president of Cold Storage...
It is undeniable—the market trends the industry was forecasting at the end of 2019 no longer apply in 2020. In December, no executive was predicting the nation’s unemployment rate would go from a five-decade low to an eight-decade high in a matter of months. In...
The industrial market is on track to outperform other asset classes in the next recession. According to a report from JLL, the industrial market is stronger this cycle than it was before the Financial Crisis. Additionally, it will likely perform better than other...
A new report from Navigant Research analyzes the global wind power market to assess current and future development cycles and projections for new installed wind capacity. The report provides global market forecasts, segmented by region, through 2028. Global wind...
A growing truck driver shortage, along with improved efficiency of U.S. rail operations, has more shippers considering rail transportation as a viable alternative to long-haul trucking. As a result, some developers are placing new industrial development projects...
The $14.5-million sale of the Sand Cove Apartments in St. Pete Beach, Fla. last month isn’t a deal that would normally stand out amid the crowded field of mega-sales and portfolio acquisitions that occurred in 2019. What is eye-catching is that the sale price on the...
The ever-evolving logistics sector continues to thrive due in no small part to e-commerce, and the sector is taking a leadership position in the ongoing greening of commercial real estate, also due in no small part to e-commerce. Prologis’ new research report,...
As the decade concludes, real estate practitioners can look back on one of commercial real estate’s best runs ever. Since the end of the Great Recession, slow, consistent growth has defined both the macro economy and the commercial real estate market. While property...
Exotic Automation & Supply reports it has relocated its headquarters and ParkerStore from Farmington Hills, MI to newly constructed space in New Hudson, MI. The 135,000-square-foot facility is located at 53500 Grand River Ave. A total of 35,000 square feet of the...
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