Commercialized marijuana is big business and is expanding as a new asset class at an astronomical rate, according to a ULI Spring Meeting panel of industry investors, operators, and legal experts on the state of the cannabis business and real estate opportunities being created in the sector. Twenty-eight states have legalized the sale of medical marijuana, and eight states plus the District of Columbia allow recreational marijuana to some degree.Read More
Breweries have an almost magical ability to revitalize neighborhoods and even entire towns, according to panelists speaking at ULI’s 2017 Carolinas Meeting.
Last month, Cushman & Wakefield reported that U.S. industrial markets absorbed 63.6 million square feet (5.9 million sq m) of space in the final quarter of 2016, which propelled net absorption for the year to a record-setting 282.9 million square feet (26.3 million sq m). According to the company, the U.S. industrial vacancy rate for all product types continued to decline in the fourth quarter, falling 30 basis points (bps) from the prior quarter and 100 bps from the prior year to 5.5 percent.
When it comes to the e-commerce explosion, it’s all about “the last mile,” and almost anything is imaginable. “The last mile can be executed on foot, bicycle, hand cart, unicycle, skateboard, jetpack, Uber, Lyft—the list goes on,” said Benjamin Conwell of Cushman & Wakefield, a former director of Amazon’s North American real estate operations, speaking at the 2016 ULI Fall Meeting.
A ULI Advisory Services panel will visit the city of Georgetown and Georgetown County to advise representatives on how best to transform a 150-acre (61 ha) site into a catalyst for economic development.
Over the next decade, 20 markets worldwide—including south Florida; Santiago, Chile; El Bajío, Mexico; and Philadelphia—are set to emerge as global logistics hubs, according to a new report from CBRE Group Inc.
Advanced manufacturing, which uses high levels of technology in addition to innovative materials and processes, is replacing traditional production in many locations and creating new industrial centers in others. A panel at ULI’s Fall Meeting addressed the changes in manufacturing and how they will affect urban centers.
From craft breweries to artisanal food producers to bespoke jewelry crafters, modern small-scale manufacturing is breathing new life into long-abandoned warehouses and factories said panelists speaking at the ULI Fall Meeting in San Francisco.
With e-commerce activity increasing, the real estate market is scrambling to keep up with a new type of building demand that combines distribution centers with fulfillment centers, said experts speaking at the ULI Spring Meeting.
Global e-commerce titans, such as Google and Amazon and China’s Alibaba, are transforming customer expectations on product selection, convenience, and shopping experiences, which may lead to less demand for traditional retail real estate, Jim Tompkins, CEO of Tompkins International, told attendees at ULI’s Midwinter Meeting in Paris last week.