While the various segments of the Greater Boston commercial real estate industry grapple with how to return to operations safely as the global pandemic persists, the region’s life science sector continues to thrive. Acquisition, development, and leasing of laboratory properties remain robust in Boston and Cambridge as well as in the submarkets, according to a panel of life science property owners recently assembled for a ULI Boston webinar.
Greening the workplace beyond the existing building code requirements requires both tenants and owners to prioritize investing in and tracking sustainability. Two panels of experts, one composed of tenant representatives and the other of property owner representatives, discussed their challenges and solutions at “Beyond Code for a Greener Bay Area: Owner and Tenant Solutions for Sustainable Buildouts,” an event organized by ULI San Francisco and ULI’s Tenant Energy Optimization Program.
Tightening availability of tech talent in leading markets has spurred hiring momentum in smaller and upstart markets in the United States and Canada—such as Tucson, Arizona, and Waterloo, Ontario—as expanding tech employers seek additional labor pools, according to CBRE’s annual Scoring Tech Talent report.
No introduction required for the Empire State Building, likely the most famous office building in the world. Already an icon and a historic landmark, it is also becoming a symbol of the future, thanks to a showcase renovation that overhauled the bones of the 88-year-old structure, and ongoing efforts to implement ULI’s Tenant Energy Optimization Program (TEOP), the focus of a half-day event in that building in July.
A technology expert speaking at ULI Europe’s Real Estate Forum in Copenhagen in June described the evolving best practices for using sensors to enhance building management and tenant satisfaction.
The evolution of the workplace is being driven by changing demands and the power of big data, said speakers representing developers, designers, futurists, and millennials at the 2019 ULI Asia Pacific Summit in Shanghai.
As shown by high-profile developments in metro areas like Austin and Dallas/Fort Worth, Texas is redefining the notion of the central business district (CBD), said the president and chief executive officer of the Texas Economic Development Corp. speaking at the ULI Texas Forum in Austin. Companies will maintain urban footprints, he said, but a number of major employers in the Austin area are expanding away from the downtown.
The commercial real estate sector must adjust to a trend in which corporate tenants increasingly see buildings as tools to recruit and retain talent and boost workforce productivity, panelists said at the ULI Spring Meeting in Nashville. Real estate developers need to focus on designing innovative, customized spaces and offering amenities that help their tenants meet their strategic goals concerning human capital.
The conversion to primarily open-office floor plans over the past decade is now reaching adolescence, and like many revolutions has created problems as well as possibilities, panelists said at a ULI New York event in February.
A number of cities in the U.S. Northeast are supplanting outdated office product with new thanks to strong, diversified economies; vigorous job creation; and increasing formation of businesses. Further driving development in the Northeast—New York, Massachusetts, Pennsylvania, and New Jersey—is continuing demand from the education and medicine (“eds and meds”) and technology sectors, among others.