Not all commercial real estate projects are targeted towards rentals, retail, or traditional office space. Another alternative that has risen to the surface is a less traditional office space layout designed for co-working space. Many workers and companies alike now shun the idea of a traditional office environment. But, sitting at home may not be the ideal solution either. If you are considering co-working space for your next project, here is what you need to know about them and some…
Whether you are a property manager that wants to modernize your space or a tenant that needs to complete a build-out to add the customized features you need for your business, commercial remodeling projects can be complex. Many owners and tenants aren’t sure what to expect when approaching one of these projects, so having the right information on hand in advance can make planning and dealing with the process more seamless. The Difference Between Remodeling and Renovation If you’re looking…
Technological advances are beginning to show significant impacts on how office property is managed and operated with the accumulation of digital data that help the commercial real estate industry make informed business decisions. “The biggest trend we’re seeing is this whole digital disruption in our industry, from ubiquitous linked sensors to the technology that’s going into smart buildings,” said Dale Dekker, AIA, AICP principal with Dekker/Perich/Sabatini during a recent presentation at the NAOIP. It’s truly driving commercial real estate in…
The growth in the number of people who live and work in the area has increased demand for office space in Charleston according to research done by Marcus & Millichap, a California-based commercial real estate brokerage and research company. New business headquarters and centers are interested in renting office space in Charleston as a result of increased employment and population gains in the Lowcountry. Charleston Employment and Vacancy Rates Charleston increased total employment by 1.5 percent since last year with…
At a recent conference on multifamily development, BMC Investment CEO Matt Joblon predicted big changes in the multifamily housing market during the next two decades. He said “co-living is a real possibility where people are sharing kitchens and common areas and just having bedrooms. I think that will evolve. Things will get smaller and tighter, and it will be more about the experience.” The Future of Multifamily Housing He compared this trend to Facebook where people are looking for a…
Summerville expects rapid growth in office buildings and commercial space in the coming years. The latest analysis from Colliers International Research and Forecast Report states there are several key factors that make the area ripe for growth in office space: The Summerville submarket has an established residential growth market. The large supply of available residential land in highly sought-after public school districts. The area already has 2.5 million square feet of office space entitled around the US 17 and Sheep…
Commercial real estate jobs have picked up the pace since a hiring peak a decade ago. That increase is being driven by small companies and secondary markets. Real estate companies are posting single job opportunities, indicating that smaller, more entrepreneurial firms are hiring. This is a new trend according to David Funk, managing editor for the 2017 SelectLeaders Job Barometer Report (selectleaders.com). Funk oversees an in-depth assessment of the current U.S. job market in commercial real estate. “Over the last…
Consumers these days are promised anything and expect everything when it comes to the seamless delivery of a product to their home. The supply chain from retailer to consumer follows an international web of retailers and logistics companies, with the goal of speeding up delivery of goods to the consumer. The demand for urban warehouses and international distribution centers has transformed the industrial real estate market. The Effect of E-Commerce E-commerce has led to a borderless, international marketplace with growing…
Foreign investors had a record year in investments in U.S. commercial real estate in 2015. Foreign investment in direct property purchases totaled $91.1 billion last year, accounting for 17 percent of all such deals in 2015. According to an analysis done by Real Capital Analytics, Chinese investors emerged as one of the biggest players in the U.S. commercial property market. Canadian investors also were a top foreign source of capital coming into the United States, and were behind several signature…
Charleston City Council pulled a proposal from its recent meeting to place a temporary ban on downtown hotel projects recommended by new Charleston Mayor John Tecklenburg. The Council called for a study instead by its city staff during the next 90 days about the commercial real estate matter, with a follow up report due to the Council discussing issues related to downtown development of new hotels. The Post and Courier wrote an extensive article about this issue a day ahead of the…
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