Economy, Market & Trends
Most migrants to Europe are clustering in cities, a new study finds, compounding the challenge of rising rents with encouraging integration of new residents and preserving a healthy socioeconomic environment. The new ULI report, Mass Migration and Real Estate in European Cities, was released at ULI Germany’s Urban Leader Summit.
Creative placemaking, an innovation that involves bringing art and culture in tandem with design to the beginning of a real estate development project, is gaining momentum around the globe, from small rural communities to large urban areas.
A recent ULI Northwest event featured presentations and panel discussion on what it will take to bring the next generation of shoppers into retail locations. Starbucks and Nordstrom executives presented insights on how their businesses are evolving.
In a survey released in January by the Association of Foreign Investors in Real Estate, Boston ranked third in desirability by foreign investors among U.S. cities (behind New York and Los Angeles). ULI Boston/New England recently hosted a program in which panelists discussed the thought processes of the leadership of the companies and investors who are wagering heavily on the continued success of the region.
While the growth of e-commerce and the shifting needs for open and smaller office spaces are having a marginal impact, most of these disruptive forces are still years away from having a substantive negative impact on the retail, office, and other industry sectors, said panelists discussing the latest ULI Real Estate Consensus Forecast during a webinar.
The Dodge Momentum Index increased by 0.9 percent in March to 144.4 from its revised February reading of 143.2. The index, produced by Dodge Data & Analytics, has risen for six consecutive months, with much of the gain being driven by institutional projects entering planning while commercial projects so far in 2017 have receded slightly. Plus, interest rate survey results from Trepp.
Panelists at ULI’s 2017 Carolinas Meeting in Charlotte shared some of the technology trends they are seeing in North America and abroad, some of which are not yet popularly known, with the potential to massively transform the way land is used.
After a lackluster winter, U.S. rents posted solid gains in March, according to Yardi Matrix’s monthly survey of 121 markets, although the rate of growth continued to decelerate. Average monthly rents rose $6 to $1,312, with the largest rent growth seen in California’s Sacramento, Inland Empire, and Los Angeles markets.
Last year was above average for U.S. grocery store openings as they anchored developments ranging from apartments to malls to even some hotel concepts. Here are four trends driving changes in the modern grocery store concept, based on JLL’s recent Grocery Tracker, including scan-and-go payment apps and more prepared meals.
San Jose, California, and Seattle-Tacoma, Washington, hold the top two spots in Marcus & Millichap’s latest National Office Property Index (NOPI). Both markets boast vacancy rates below the national average and significant completions forecast for 2017.
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