messages listlengths 2 2 |
|---|
[
{
"role": "user",
"content": "OCCUPIER: AGILE BY PORTFOLIO FLEXIBILITY Large occupiers need to think about agility in both individual-market and portfolio terms, including the length of leases, options to expand or contract space, and the availability of talent. Double down on commercial real estate in thos... |
[
{
"role": "user",
"content": "POTENTIAL GROWTH: TAX REFORM, INFRASTRUCTURE, CAPITAL SPENDING Corporate tax reform, which appears likely to be enacted, could stimulate the economy overall, but not necessarily in 2018. A lot depends on how corporations, which are the primary beneficiaries of the current bill,... |
[
{
"role": "user",
"content": "Just as important to the economy is immigration. Without immigration, U.S. population and labor force growth are barely positive. In the House and Senate, there are currently several proposals to cut current immigration levels in half, which could lower GDP by 50 to 75 bps and ... |
[
{
"role": "user",
"content": "GDP growth continues in 2018, followed by a short slowdown in 2019. Growth of the economy begins accelerating again in 2020."
},
{
"role": "assistant",
"content": "CAPITAL MARKETS through Q3 2019, as robust economic growth is priced in, but then slowly increase as e... |
[
{
"role": "user",
"content": "Commercial real estate will remain an attractive investment over the period and, versus other asset classes, CRE’s steady income-generating/inflation-hedging characteristics may prove very attractive. Once the adjustment is over, asset price growth likely will return and invest... |
[
{
"role": "user",
"content": "The scarcity of available qualified workers, reflected in October’s unemployment rate of 4.1% (the lowest since December 2000),2 is a factor."
},
{
"role": "assistant",
"content": "Unemployment will likely remain low next year."
}
] |
[
{
"role": "user",
"content": "Improved U.S. office market fundamentals should continue in 2018, but at a slower pace due to higher completions and the tight labor market’s impact on tenant demand. Older buildings lacking the amenities preferred by today’s workforce and the infrastructure to handle evolving ... |
[
{
"role": "user",
"content": ""
},
{
"role": "assistant",
"content": "Completions are expected to outpace net absorption for a second straight year in 2018, driving a modest 20-bps increase in the vacancy rate to 13.2%—only slightly above the cyclical- low of 12.9% in Q3 2017. Given this modest ... |
[
{
"role": "user",
"content": "Corporate policy aside, personal devices and cloud technology have made employees more mobile and have rendered the physical office an optional place to work. This has led employees to seek more choice in workplace locations and employers to pursue greater flexibility in reduci... |
[
{
"role": "user",
"content": "The industrial & logistics market remains on solid footing and continues to expand. Demand has slowed a bit from its well-above-average run between 2013 and 2016, but 2017’s quarterly average net absorption of 52.9 million sq. ft. is right in line with the quarterly average ove... |
[
{
"role": "user",
"content": "U.S. demand (as measured by net absorption) has outpaced supply by nearly 2-to-1, despite rapidly growing rents and declining vacancy. In general, the discipline shown by developers has been healthy and has allowed for steady rent growth that has virtually all markets at full r... |
[
{
"role": "user",
"content": "Intense competition for the real estate that does exist in these areas has driven local availability rates down and rents up, but neither has slowed demand in these prime infill locations. We believe that rising rents, while not ideal for the tenant, are unlikely to curb demand... |
[
{
"role": "user",
"content": "STRONG RENT GROWTH EXPECTED FOR SOME NON-GATEWAY MARKETS Non-gateway markets like Atlanta, Houston, Nashville and Denver should see rent growth of at least 2.5% over the next five years, as demand outpaces supply. Successful redevelopment in the urban core and a rise in mixed-u... |
[
{
"role": "user",
"content": "Potential demand for each retail center type can be forecast using local retail employment growth projections."
},
{
"role": "assistant",
"content": "Due largely to closures, department store employment dropped by 3% in the past year—a trend that is expected to cont... |
[
{
"role": "user",
"content": "New suburban development will focus on areas with a strong live-work-play environment. These are submarkets located outside of the urban core that have characteristics similar to downtowns (e.g., concentrated employment, retail and entertainment amenities, etc.). This focus wil... |
[
{
"role": "user",
"content": "• Emerging low-cost urban hubs like Dallas and Atlanta that continue to post some of the nation’s largest net in-migration numbers."
},
{
"role": "assistant",
"content": "Knowledge hubs seem to have the strongest fundamentals currently, but while their industry mixe... |
[
{
"role": "user",
"content": "Migration drivers fall into one of two categories: push factors or pull factors.9 As push factors work to drive certain demographics out of bigger markets, pull factors draw populations inward from around the country. Together, these dynamics are highly correlated with recent y... |
[
{
"role": "user",
"content": "Nearly 300 megawatts are scheduled for delivery next year in the primary data center markets that CBRE tracks.10 We do not foresee any risk of oversupply, since key markets like Chicago, Northern Virginia and Silicon Valley currently have vacancy rates near or below 5%. Further... |
[
{
"role": "user",
"content": "Other life sciences markets are more exposed to consolidation in their outsized pharmaceutical and medicine manufacturing bases (New Jersey, Philadelphia, Chicago), but are still experiencing exceptionally strong momentum in select submarkets."
},
{
"role": "assistant",... |
[
{
"role": "user",
"content": "Moreover, the surge of venture capital, which drives significant demand for lab space, has plateaued and therefore also warrants close monitoring."
},
{
"role": "assistant",
"content": "OPPORTUNITIES AND RISKS FOR CRE IN THE LIFE SCIENCES SECTOR Strong demand driver... |
[
{
"role": "user",
"content": "TIGHT MARKET CONDITIONS ATTRACTING INVESTOR INTEREST The medical office market has performed well in recent years, registering a lower peak vacancy rate than traditional office properties during the 2008 recession and showing a steady decline in vacancy since that time."
},
... |
[
{
"role": "user",
"content": "Overall, we expect demand for medical office buildings to grow, fueled by continued health care job growth, the aging population, tight market conditions and the relative recession- resistance of these properties. These factors will attract even more investors in the years ahea... |
[
{
"role": "user",
"content": "After peaking in early 2016, under-construction levels began falling and should further decrease in 2018. Construction starts also declined in the past two years, promising fewer completions in 2018."
},
{
"role": "assistant",
"content": "however, baby boomers are c... |
[
{
"role": "user",
"content": "Institutional capital’s interest in the seniors housing sector has been rising for a few years (due in part to higher yields) and its market share rose to about 31% in 2017 from 29% in 2016."
},
{
"role": "assistant",
"content": "While cross-border capital represent... |
[
{
"role": "user",
"content": "LIHTC Immediately Impacted That important exception is the low income housing tax credit (LIHTC) market. The lowering of overall corporate tax rates has materially changed the LIHTC market, with the value of the tax credits being diminished. As a reaction to the presidential el... |
[
{
"role": "user",
"content": "of 3 Another major change for LIHTC projects involves those with foreign owners or affiliates. According to Novogradac, the TCJA resulted in an altered tax scheme for foreign companies, as well as domestic companies with major foreign components: “The alternative tax calculatio... |
[
{
"role": "user",
"content": "of 5 Economic Growth Expected to Slow and Housing to Stabilize in 2019 The U.S. economy is expected to grow 2.6 percent annualized in the fourth quarter, a slowdown from the 3.5 percent rate of growth in the prior quarter, as growth in consumer spending moderates. For all of 20... |
[
{
"role": "user",
"content": "of 5 Business Fixed Investment Growth Expected to Tick Up Despite an upward revision in the second estimate of third quarter GDP, business fixed investment growth still slowed markedly. The minutes from the November Federal Open Market Committee (FOMC) meeting revealed that som... |
[
{
"role": "user",
"content": "By contrast, estimates that there are only 3,100 properties in Los Angeles that have 50 or more apartment units each. However, with the average property containing an estimated 126 units, this relatively small number of larger properties represents about 37 percent of all multi... |
[
{
"role": "user",
"content": "Great Variation in Sales Prices Sale prices of individual small multifamily properties sold since January 1, 2017 have varied greatly. Perhaps surprisingly, the highest overall sales price for a small multifamily property was not in Malibu or Beverly Hills, but in the East Los ... |
[
{
"role": "user",
"content": "of 5 Fiscal Policy and the Fed: Stimulus/Response Late last year, the President signed the Tax Cuts and Jobs Act into law. Most economists upgraded their economic growth forecasts when they incorporated the impact of a likely or final tax cut bill. For example, more than 90 per... |
[
{
"role": "user",
"content": "of 5 should help offset rising worker compensation. We project the annual increase in the Fed’s favored measure of inflation, the Personal Consumption Expenditures Deflator, to remain below the Fed’s two-percent target throughout 2018."
},
{
"role": "assistant",
"co... |
[
{
"role": "user",
"content": "The Fed Will Likely Remain Cautious At the December Federal Open Market Committee (FOMC) meeting, the Federal Reserve raised the fed funds rate 25 basis points. The Fed appears to be counting on modest, synchronized global growth to continue as they attempt to get some distance... |
[
{
"role": "user",
"content": "multifamily sector has had a solid run since 2010, with increasing rent growth and low vacancies."
},
{
"role": "assistant",
"content": "Key fundamentals have propelled the multifamily sector over the past few years: favorable demographic trends, continued job growt... |
[
{
"role": "user",
"content": "Net Absorption – Continued Slowdown Expected Demand for multifamily rental units remained positive throughout 2017. Net absorption likely totaled about +units absorbed, according to data from . expects net absorption in 2018 to remain positive, although at a lower level than la... |
[
{
"role": "user",
"content": "In addition, national Class C rent growth in 2017 was at 2.2 percent according to Axiometrics, compared to just 1.7 percent for Class A, indicating that property owners are offering more generous concessions up front for Class C units to lock in higher rents."
},
{
"rol... |
[
{
"role": "user",
"content": "According to the Dodge Data & Analytics SupplyTrack data, which distinguishes between multifamily properties consisting of apartment and condo units, about apartment units were completed in 2017, with another units expected to come online in 2018. In comparison, only about 59,0... |
[
{
"role": "user",
"content": "of 7 to come online this year, yet anticipated job growth of 1.2 percent will at best produce demand for just 10,000 units."
},
{
"role": "assistant",
"content": "As a result, all three of these metros began experiencing negative rent growth during the latter part o... |
[
{
"role": "user",
"content": "At 3.2 percent, Jacksonville has one of the highest projected job growth rates in the nation."
},
{
"role": "assistant",
"content": "The metro could easily produce demand for a minimum of 3,600 units, yet fewer than 1,800 units are expected this year. Las Vegas is e... |
[
{
"role": "user",
"content": "The amount of new supply expected to come online this year is mostly located in about 10 to 12 metros, some of which are likely to experience a slow-down in demand due to upcoming oversupply."
},
{
"role": "assistant",
"content": "While there should be job growth sp... |
[
{
"role": "user",
"content": "of 5 The Tax Act Boosts Corporate Profits Revisions to gross domestic product (GDP) for the second quarter were uneventful. However, corporate profits, a new piece of data, revealed the improving underlying health of businesses, even absent the recent tax benefits and despite t... |
[
{
"role": "user",
"content": "Myth Busting: The Truth About Multifamily Renters Multifamily Economics and Market Research With more and more Millennials entering the workforce and forming households, as well as foreclosed homeowners turning to renting, rentership in the U.S. has been increasing. It should t... |
[
{
"role": "user",
"content": "Concessions are one of the ways property owners attract tenants in a competitive market. Concessions are enticements with economic value for renters, such as periods of free rent, free utilities, or other amenities. Concessions data from RealPage continues to show that, on a na... |
[
{
"role": "user",
"content": "Multifamily Concession Rate by Market – Select Metros Source: RealPage, October 2019 For context, a month of free rent is a concession rate of 8.3%. So, although Atlanta has experienced the largest increase in concessions since 2016 among the markets listed above, its concessio... |
[
{
"role": "user",
"content": "Market-rate properties that do not receive support from government housing programs, but generally have more affordable rents than Class A properties, are at another point on the spectrum. These units may be more affordable to low- and moderate-income households due to their ag... |
[
{
"role": "user",
"content": "CONTENTS 33 16 SECTORS OFFICES Occupier choice starting to expand as market begins to turn."
},
{
"role": "assistant",
"content": "21 RETAIL AND LOGISTICS The growth of ecommerce, combined with economic fundamentals, will be the major driver of performance for the r... |
[
{
"role": "user",
"content": "55 ECONOMICS AND POLITICS 2019 IN PERSPECTIVE: A TWO-SPEED ECONOMY Europe failed to maintain 2018’s pace of economic growth, with GDP growth expected to be around 1.3% by the end of 2019, slightly below the long-term average. This can largely be explained by slowing internation... |
[
{
"role": "user",
"content": "Despite the struggles in Europe’s industrial sector, service sector output has been relatively robust, and we expect this to continue into 2020. Employment growth will slow in response to weaker GDP growth, which will have some dampening effect on consumer demand, but this will... |
[
{
"role": "user",
"content": "WHY THE REAL ESTATE SECTOR NEEDS TO DECARBONIZE The construction and operation of buildings contributes to 39%3 of worldwide greenhouse gas emissions: 28% from operational emissions and the remaining 11% emitted during the manufacture, transport and construction of building mat... |
[
{
"role": "user",
"content": "17 17 SECTORS OFFICES Office-based employment growth will slow in 2020, with leasing activity starting to turn down and a more balanced, less tech-dependent demand profile emerging. Supply conditions will begin to loosen, with vacancy levels likely to plateau or rise as new dev... |
[
{
"role": "user",
"content": "24 MULTIFAMILY The rise in the scale of capital deploying into Europe’s multifamily sector in the last few years has been substantial and is set to increase in 2020 and beyond."
},
{
"role": "assistant",
"content": "This reflects urbanisation and demographic trends,... |
[
{
"role": "user",
"content": "31 DATA CENTRES Fuelled by growth in the capacity needs of cloud service providers, the European data centre market will continue to grow in 2020. The increased scale of individual end-user deployments will be a key theme in the year ahead and will need to overcome the signific... |
[
{
"role": "user",
"content": "Behind this overall picture, expect significant variations in the outlook for individual sectors and cities. For much of the recovery period since 2014 leasing markets have relied heavily on the technology sector as a source of demand. Recent data indicates a shift towards a mo... |
[
{
"role": "user",
"content": "• With space choice expanding, occupiers respond to trend convergence around skills, digital strategy and user experience by taking a more activist approach to their portfolios."
},
{
"role": "assistant",
"content": "21 21 SECTORS: RETAIL AND LOGISTICS RETAIL AND LO... |
[
{
"role": "user",
"content": "EUROPEAN RETAIL OUTLOOK: CONTINENTAL EUROPE MORE POSITIVE Retail will remain a thoroughly examined and heavily discussed sector in the coming year. Negative retail news, mainly from the UK, will make headlines."
},
{
"role": "assistant",
"content": "UK retail will c... |
[
{
"role": "user",
"content": "So, while prime high street rental values in most cities will either decline or see subdued growth over the year, we expect to see pockets of higher rental value growth in selected markets. These include cities such as Rome, Madrid, Warsaw, Budapest and Stockholm, driven by tou... |
[
{
"role": "user",
"content": "The supply side has been responsive to this trend, although speculative developments are significantly lower than 2009 levels and the average vacancy rate remains below 5%."
},
{
"role": "assistant",
"content": "We expect to see more moderate growth in German and Du... |
[
{
"role": "user",
"content": "Low unemployment rates across Europe have increased the importance of this factor. As a result, new and secondary locations, such as the north-east of England and the south of Italy,"
},
{
"role": "assistant",
"content": "are becoming more attractive for developers ... |
[
{
"role": "user",
"content": "REGULATION FOREMOST AMONG THE INVESTMENT CHALLENGES While investors will be encouraged by the volume of end-user appetite for high-quality rental offering, a number of challenges threaten deliverability in some markets. These include: • The availability of land • Planning issue... |
[
{
"role": "user",
"content": "27 27 HOTELS A STRONG STARTING POSITION The European hotels sector begins the year from a position of strength. Europe significantly outperformed the other key global regions in 2019 in terms of hotel operating performance, according to data from STR."
},
{
"role": "ass... |
[
{
"role": "user",
"content": "Hotel income and capital values are not immune from market events such as recessions or inflation. However, the availability of granular, real time benchmarking data allows owners and operators to identify opportunities and risks at an early stage and act upon them with immedia... |
[
{
"role": "user",
"content": "The effects of these barriers to entry are that data centre developers are either choosing to locate in new, unproven locations or are competing aggressively on price for land opportunities."
},
{
"role": "assistant",
"content": "We expect both trends to be strong f... |
[
{
"role": "user",
"content": "Government Consumption and Investment Net Exports of Goods and Services Change in Private Inventories Residential Fixed Investment Nonresidential Fixed Investment Personal Consumption Expenditures GDP Contribution to Real GDP Annualized % Change Net Exports Are the Largest Cont... |
[
{
"role": "user",
"content": "The biggest driver of higher construction costs came down to the cost of labor. The survey found that labor costs more in New York, San Francisco, and Chicago due to the presence and influence of construction unions. According to RS Means survey respondents, it is less expensiv... |
[
{
"role": "user",
"content": "As seen in the chart below, several of the nation’s largest metros, especially in their more urban centers, have seen a decline in rent growth over the past year, according to data from Advisory Services. While these include some of the more expensive coastal metros, including ... |
[
{
"role": "user",
"content": "As seen in the charts below, there are several metros that have concession rates well above the national average – and it’s likely no surprise that many of them are the same higher-cost metros that have experienced some of the biggest rent declines. The New York City metro has ... |
[
{
"role": "user",
"content": "1 Over the past decade, the U.S. multifamily sector has benefited from solid demand, increasing rent growth, and low vacancies, thanks to favorable demographic trends, ongoing job growth, and continued renter household formations."
},
{
"role": "assistant",
"content... |
[
{
"role": "user",
"content": "Net Absorption Expected to Remain Positive Demand for multifamily rental units remained positive throughout 2019. Net absorption is estimated to have totaled about units last year, according to data from , which is down compared to 2018’s estimated units absorbed."
},
{
... |
[
{
"role": "user",
"content": "National multifamily concessions for all property classes (averaged across all units, including those not offering concessions) remain at low levels. Only about 15 percent of all multifamily units are offering concessions, according to data from RealPage, Inc. Class A concessio... |
[
{
"role": "user",
"content": "Nevertheless, much of the new supply consists of more expensive, class A units and is primarily concentrated in about 10 to 12 metros, as seen in the chart below, with much of it concentrated in only a few submarkets."
},
{
"role": "assistant",
"content": "The estim... |
[
{
"role": "user",
"content": "Multifamily Economic and Market Commentary Supply and Demand Vary by Metro Although the nation is expected to see positive job growth this year, it is not expected to be consistent everywhere, as illustrated in the two charts on the next page. These metros also happen to have a... |
[
{
"role": "user",
"content": "Austin’s new supply is anticipated at 14,000 units between now and 2021, but potential new demand is not expected to be that far behind at nearly 13,000 units. Dallas’s new supply appears elevated at more than 18,000 multifamily units delivering this year, but with 2.4 percent ... |
[
{
"role": "user",
"content": "For example, according to a recent report from CBRE, the New York City metro area experienced a 9.2 percent year-over-year decline in multifamily investment during the first eight months of 2019, which some partly attribute to its expansion of rent stabilization."
},
{
... |
[
{
"role": "user",
"content": "Student Housing Deliveries – through Fall 2020 The Outbreak’s Impact on Enrollments College enrollments have been decreasing for seven years and early 2020 returns indicate that they are still in decline. According to the National Student Clearinghouse Research Center, Spring 2... |
[
{
"role": "user",
"content": "According to NIC data, total seniors housing absorption achieved a record level for the year, with approximately 15,600 units absorbed, a 9.3 percent increase from 2018. The underlying segments experienced similar trends: Majority IL absorption was 18 percent higher than 2018 a... |
[
{
"role": "user",
"content": "New Manufactured Homes Have Additional Costs Manufactured homes do have additional costs compared to a site-built home. For instance, new manufactured homes cost about $5,000 per section to ship, in addition to costs for installation and utility hookup. According to Next Step N... |
[
{
"role": "user",
"content": "Manufactured Housing Landscape 2020 …and Will Likely Reduce Demand for New Homes Manufactured homes built to the HUD Code are generally sold by retailers that have showrooms with display models for consumers to view. Next Step Network also recently conducted a survey of retaile... |
[
{
"role": "user",
"content": "Change in Sales Volume of Individual Properties (%) Source: Real Capital Analytics www.rcanalytics.com Increased Interest in Manufactured Housing MHVillage is a website that provides information on MHC, listing individual manufactured homes for sale as well as rental homes. As ... |
[
{
"role": "user",
"content": "Occupancy Remained Steady in Q2 2020 Third-party data vendor Datacomp/JLT, which focuses exclusively on collecting data for MHC, collected occupancy and rent data for metros in several states in Q2 2020 after most states had issued stay-at-home orders due to the pandemic. The a... |
[
{
"role": "user",
"content": "…but There Is Wide Dispersion There is generally quite a bit of variation in MHC cap rates, however. For instance, the 104-unit Hannah Mobile Home Park near Charleston, S.C., was underwritten with an 8.8% cap rate in January, according to Real Capital Analytics."
},
{
"... |
[
{
"role": "user",
"content": "According to recent manufactured home rental listings from MHVillage, the average asking rent for a pre-owned manufactured home in the Cleveland metro area was just $695, less than 75% of the average asking rent for an apartment in Q2 2020. However, the savings are even higher ... |
[
{
"role": "user",
"content": "4 ECONOMY & POLITICS GDP is expected to end 2020 down by only 4.0%, followed by a 4.5% rebound in 2021."
},
{
"role": "assistant",
"content": "11 CAPITAL MARKETS Long-term technological and demographic trends, such as digitalization, will change investor preferences... |
[
{
"role": "user",
"content": "22 INDUSTRIAL & LOGISTICS Nearly 250 million sq. ft. of industrial net absorption is expected in 2021, more than the previous five-year annual average of 211 million sq. ft."
},
{
"role": "assistant",
"content": "KEY STAT GDP is expected to contract by 4.0% this yea... |
[
{
"role": "user",
"content": "SUMMARY CBRE forecasts that the strongest growth of 2021 will occur in Q2 and Q3—5.5% and 5.6%, respectively, on an annualized basis— bringing U.S. GDP back to pre-COVID levels in Q3."
},
{
"role": "assistant",
"content": "The real estate recovery is expected to lag... |
[
{
"role": "user",
"content": "REAL ESTATE RECOVERY WILL LAG THAT OF BROADER ECONOMY The U.S. economy entered a deep recession due to the COVID-19 pandemic, with GDP plunging by an unprecedented 31.4% in Q2 on an annualized basis. As the economic lockdown was loosened, employment growth resumed in May and GD... |
[
{
"role": "user",
"content": "Debt to GDP Ratio Source: U.S. Congressional Budget Office."
},
{
"role": "assistant",
"content": "Another secondary impact of this policy relates to foreign exchange rates. A lower-for-longer environment is conducive to a weaker U.S. dollar. This could make U.S. co... |
[
{
"role": "user",
"content": "CBRE expects the recovery in property markets to lag the broader economy, due to the unique impact that the pandemic has exacted on the economy and how space is used."
},
{
"role": "assistant",
"content": "As such, with a medical resolution in sight and continued ec... |
[
{
"role": "user",
"content": "taxes may impact capital expenditures by businesses and wage and job growth, but this could be offset by a more stable global trade environment. If pursued vigorously, Biden’s environment agenda would have implications for commercial building operating costs to meet higher ener... |
[
{
"role": "user",
"content": "Investor sentiment also has recovered significantly."
},
{
"role": "assistant",
"content": "CBRE’s Capital Markets Recovery Index—a composite tracker of economic conditions, real estate listings and investor interest—shows a 60% rebound from the April/May bottom. Th... |
[
{
"role": "user",
"content": "CAPITAL MARKETS CONTINUE BUMPY RECOVERY The COVID-19 crisis has weighed heavily on commercial real estate investment activity. Investment volume in the first three quarters of 2020 fell by 44% from the same period last year. Nevertheless, activity is increasing as the year goes... |
[
{
"role": "user",
"content": "URBAN VS SUBURBAN Suburban office markets are expected to recover faster than their CBD counterparts next year. While suburban office demand lagged that of CBDs after the GFC, the downturn in CBD office markets has been considerably more severe in this recession with disruption... |
[
{
"role": "user",
"content": "When they do return to the office, companies may favor a hybrid work style that combines remote working with office use. Until then, companies are deferring leasing decisions and are reducing their space usage in line with lower economic growth expectations. Negative net absorp... |
[
{
"role": "user",
"content": "MARKETS TO WATCH Secondary markets, particularly in the business-friendly Southeast, will perform more favorably in 2021. Raleigh-Durham, Nashville, Tampa and Charlotte will benefit from relatively resilient demand, lower costs and persistent demographic and employment growth. ... |
[
{
"role": "user",
"content": "SUMMARY Brick-and-mortar retail sales are expected to grow in 2021 as e-commerce sales decline after the 2020 COVID-fueled surge. New opportunistic and emerging retailers will capitalize on market conditions to absorb some of the vacancies from bankrupt retailers and store clos... |
[
{
"role": "user",
"content": "New retail concepts will absorb some of the vacancies left by failed retailers. Digitally native brands, medical uses, health and wellness, automotive showrooms and service centers, pet services, franchisee- driven operations and salon suites will capitalize on opportunistic ma... |
[
{
"role": "user",
"content": "While mall owners have made bold moves with signature tenants to preserve occupancy and differentiate their properties through merchandising, the current problems REVERSAL OF RECORD E-COMMERCE GROWTH After falling in February, total retail sales growth resumed in June with the ... |
[
{
"role": "user",
"content": "MARKETS TO WATCH There has been a clear bifurcation in consumer spending, retailer performance and market resilience between suburban and urban-core markets. Recovery is uneven and will take much longer in urban markets like New York City and San Francisco, where demand drivers... |
[
{
"role": "user",
"content": "KEY STAT Nearly 250 million sq. ft. of industrial net absorption is expected in 2021, more than the previous five-year annual average of 211 million sq. ft."
},
{
"role": "assistant",
"content": "SUMMARY The U.S. industrial market will continue to flourish next year... |
[
{
"role": "user",
"content": "Overall, new industrial completions are forecast to jump by 29% next year, according to CBRE Econometric E-COMMERCE WILL DRIVE DEMAND NEXT YEAR Industrial has been one of the most resilient real estate sectors amid the COVID-19 crisis, buoyed by rising e-commerce demand. Year-o... |
[
{
"role": "user",
"content": "2. Class B and C light-industrial buildings in urban markets with below-average vacancy rates, including Northern and Southern California, Chicago, the New York Tri-State Area and Miami."
},
{
"role": "assistant",
"content": "Advisors. Given strong preleasing of spe... |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.