Industry Sectors
With e-commerce players remaking the retail sector, industrial real estate developers are hustling to provide the infrastructure needed to get packages to doorsteps in hours instead of days.
Imagine arriving home after a long day at the office and calling room service to have a chef-prepared meal delivered to your door. For residents of Nashville’s new, innovatively designed Aertson Midtown building, that is not wishful thinking. They simply place an order with the signature restaurant of the Kimpton hotel that shares their apartment building.
Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, according to a report by Cushman & Wakefield. The annual Main Streets Across The Worldreport, now in its 29th edition, tracks 451 of the top retail streets around the globe and ranks the most expensive in 68 countries by prime rental value using proprietary data.
Trading Up: Dining, Leisure, Amenities, and the New Shopping Centreis the second report from the ULI Retail and Entertainment Council to look at the role that food and beverage (F&B) and leisure have in supporting shopping centers as they adapt to retail sales moving online. This year, the research extends that topic to consider how the addition of community amenities is also emerging among shopping center owners.
Retail is the pulse of any vibrant urban environment, including downtown Los Angeles (DTLA). Just ask Avison Young’s Derrick Moore, who has brokered some 400 DTLA retail leasing deals in the last few years.
Across the United States, a number of cities are attempting to restore and rediscover their urban rivers. One of the most ambitious efforts is occurring in Houston, where Buffalo Bayou Park is undergoing a $58 million redevelopment to be completed this year.
California may be easing into a soft landing with signs of “ebbing optimism” among developers on the three-year outlook for the state’s commercial and multifamily real estate markets. The latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey indicates slower growth ahead in the office, retail, and industrial sectors, but developers are more positive about opportunities in Orange County, Los Angeles, and San Diego.
With a handful of WELL-certified projects now in operation and hundreds in the certification pipeline, real estate owners and developers are starting to take a hard look at the business case for healthy building certification.
Commercial property owners are rethinking their skepticism toward energy storage systems, with battery prices dropping and third parties offering new financing models.
ULI Sacramento has long been engaged with the issue of revitalizing Sacramento’s riverfront. During a two-day program in March, strategies for success and lessons learned were shared by representatives from four U.S. cities that have created coherent waterfront development programs—Chattanooga, Louisville, Pittsburgh, and Spokane.
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