America’s golden age for parks is translating into gilded surroundings, according to panelists at a concurrent session at the ULI Fall Meeting.
While commercial real estate has occasionally lagged behind other business sectors in use of emerging technologies such as three-dimensional virtual reality environments and real-time data mining, panelists at the ULI Fall Meeting said such advances promise to reshape how developers and property managers function.
The Trepp survey for the week ending October 24, 2014, showed average spreads basically unchanged, with the implied rate for ten-year, modestly leveraged commercial real estate mortgages equaling 3.74 percent—70 basis points lower than at year-end 2013.
Aggregation and analysis of open data—that is, information that is freely available via the internet—are revolutionizing fields such as science and government, said panelists at the ULI Fall Meeting, but it is still anathema to many in the real estate industry.
The “fear of missing out” is a major motivator for today’s most affluent millennials who want every travel moment to be memorable—and tweetable.
By the end of 2014, the writers and editors of Condé Nast will finish moving into the publishing company’s new 1.25 million-square-foot (116,000 sq m) headquarters in lower Manhattan. That’s just the latest good news from that part of Manhattan, which is once again one of the most desirable neighborhoods in the world, despite surviving a hurricane, the global financial crisis, and the 9/11 attacks.
Citing the estimate of 2.5 billion people moving to cities by 2050, Rob Speyer, president and co–chief executive officer of Tishman Speyer, said that cities are more important than ever in bringing people together in a keynote address at the 2014 ULI Fall Meeting.
Speakers at a concurrent session on the creative reuse of aging infrastructure added three case studies to the growing list of success stories, including Chicago’s MetraMarket, Buffalo’s Erie Canal, and Hollywood Park in Los Angeles.
Around the world, commercial real estate investors are tired of sky-high prices and low investor yields—but they keep on paying, said panelists at a Capital Markets keynote at the ULI Fall Meeting.
Resorts and vacation homes—always the last real estate sector to recover from an economic downturn—are seeing increased activity, but developers are looking toward the future.