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The commercial real estate industry is increasingly focused on the needs of small firms employing fewer than 50 people where job growth is outpacing larger firms by nearly five to one, according to “Emerging Trends in Real Estate® 2016,” co-published by PwC US and the Urban Land Institute (ULI). Now in its 37th year, the report includes interviews and survey responses from more than 1,800 leading real estate experts, including investors, fund managers, developers, property companies, lenders, brokers, advisers, and consultants. “The real estate industry’s traditional focus on big cities and large employers is shifting significantly as small businesses emerge as the growth engine for the U.S. economy,” said Mitch Roschelle, partner, U.S. real estate advisory practice leader, PwC. “This is creating disruption in the office sector as it finds ways to create new space models to accommodate these employers.” “Advancements in technology that are affecting how people live, work, learn, socialize, and get around are reflected in the rising popularity of cities other than the largest coastal markets as magnets for investment,” said ULI‘s Global Chief Executive Officer Patrick L. Phillips. “More and more of these cities are gaining a competitive edge by positioning themselves as vibrant, more affordable places to live and work, with amenities that appeal to different generations.” 10 Trends To Watch PwC and ULI outline the top trends in real estate for 2016: 18-hour cities 2.0 — The real estate industry is expressing growing confidence in the potential investment returns in these 18-hour markets – or markets where businesses, restaurants, and other services operate virtually around the clock. The growth in investor sentiment is evident in the 2016 top ten rankings – with the exception of San Francisco and Los Angeles, the balance of the markets are 18-hour gateway cities. Next stop: the suburbs — As the cost of living and housing prices have risen in the core gateway markets, it’s apparent that a fresh look at suburban opportunities is gaining investor favor. In the top 40 metro areas, 84 percent of all jobs are outside the center-city core – and that’s the basis for optimism for the suburban future. Offices: barometer of change —The office sector has been benefiting from the strengthening employment numbers and a rethinking of how employees can maximize their productivity through improved workspaces that are seen as more open and promote collaboration. Some surveyed respondents see the redesign as a way to accommodate an alteration in work style itself, while others view it as a way to attract and keep desired talent – and for others,… …Read More…
Credit: Creatas The real estate market is projected to continue expanding at healthy and fairly steady levels for 2015 through 2017, according to a new three-year economic forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate. The latest ULI Real Estate Consensus Forecast, a semi-annual outlook, is based on a survey of 49 of the industry’s top economists and analysts representing 36 of the country’s leading real estate investment, advisory, and research firms and organizations. Compared to the previous forecast conducted in April 2015, the new Consensus Forecast is slightly less bullish on its outlook; however, it predicts three more years of favorable real estate conditions. The new survey forecasts real estate indicators to be better than their 20-year averages in 2015, with these exceptions: commercial property price growth, equity REIT returns, NCREIF returns for the four major property types, retail availability rates, and single-family housing starts. “The latest Consensus Forecast has picked up on recent growth concerns and stock market corrections around the world,” said ULI leader and survey participant William Maher, director of North American strategy for LaSalle Investment Management in Baltimore. “The U.S. economy and real estate markets are in much better shape than most other countries, but global economies and capital markets are increasingly inter-related. Still, the vast majority of indicators in the forecast indicate favorable economic and capital markets in the U.S., as well as moderately strong real estate fundamentals and investment returns.” Other key findings of the Consensus Forecast include: Commercial property transaction volume is expected to increase for another two years and then level off at $500 billion by 2017. Commercial real estate prices are projected to rise by 10 percent in 2015 and to slow to a 6 percent increase in 2016. Price growth is expected to drop to 4.5 percent in 2017, below the long-term average growth rate. Institutional real estate assets are expected to provide total returns of 11.7 percent in 2015, moderating to 9 percent in 2016 and 7 percent in 2017. By property type, returns are expected to be strongest for… NOTE:This is a summary of a post found on Real Street Tech | The Smart Place For CRE.Parts of it may be missing. View the full original article at:http://realstreettech.com/real-estate-market-predicted-to-continue-expanding-through-2017/
The Urban Land Institute (ULI) Greenprint Center for Building Performance announced this week the addition of Solaria Corporation and Stem, Inc. as its newest innovation partners. Based in Fremont, CA, Solaria Corporation is a solar technology company that designs, manufactures, and markets high-efficiency silicon PV modules and systems for rooftop, utility, building facades, and greenhouses. Stem, Inc., headquartered in Millbrae, CA, is a provider of energy storage solutions. The Greenprint Center Innovation Partner Program connects technology and service providers with building owners, to share building efficiency strategies and best practices—and advances Greenprint’s goal of transforming the environmental performance of buildings across the real estate industry. Both companies will apply their technology and expertise to help Greenprint member properties find new energy and cost-savings opportunities. The Center’s other innovation partners include Abundant Power, Agilis Energy, and Lutron. New Report Released By ULI Greenprint Center Also this week, ULI’s Greenprint Center released its annual “Greenprint Performance Report: Volume 6.” Now in its sixth year, this report measures the performance of properties owned or managed by Greenprint members. An overall goal of the Greenprint Center is to reduce building emissions and energy consumption by 50% by 2030. The report was released at an event at which real estate industry and public sector leaders discussed the future of sustainable real estate in New York City and around the world. The report is based on the performance of more than 5,000 office, retail, commercial, hotel and multifamily properties spanning more than 50 countries. “Increasing access to education and implementation for environmentally sound real estate practices is critical to the future success of the real estate industry,” said Charles B. Leitner, chairman, ULI Greenprint Center for Building Performance, CEO, Berkshire Group. “ULI Greenprint’s annual performance report not only tracks the real estate industry’s efforts to reduce all emissions by 50% by 2030, but it raises awareness of ways we can improve the sustainability of our industry.” “With the help of programs and data provided by Greenprint, Hines has successfully built and managed 416 green certified buildings and employs almost 90 Leadership in Energy and Environmental Design (LEED) accredited professionals, contributing to overall reductions in energy… NOTE:This is a summary of a post found on Real Street Tech | The Smart Place For CRE.Parts of it may be missing. View the full original article at:http://realstreettech.com/uli-greenprint-center-report-showcases-sustainability/
U.S. commercial real estate recovery to advance in 2013 with nationwide gains in leasing, rents and pricing, according to PricewaterhouseCoopers and Urban Land Institute’s Emerging Trends in Real Estate® Forecast.