Commercial Property & Real Estate News

Addressing the Labor Crisis in the Construction TradesIt's a problem that's been brewing for a decade or more. There aren't enough skilled workers to keep up with the demand—across the country and across the wide spectrum of real estate and construction, from new homes to new high rises.

A Nationwide Crisis

Nationally, approximately 70 percent of contractors who responded to a survey conducted by the Associated General Contractors, noted that they had problems filling and retaining hourly workers. In the west, the percentage is often 75 percent or higher. It goes beyond the ability to pay higher wages; unemployment among construction trades is near an all-time low, at just 4.4 per cent in May, indicating a severe lack of available workers.

The shortage is critical for many reasons, and the

617 Views, 0 Comments

For Real Estate Investors, Student Housing Is a Profitable New MarketReal estate investors are "on track to spend more than $11 billion to buy student housing properties in 2018," according to a December 17 article in Minnesota Real Estate Journal. That's almost $3 billion more in valuation than the total deals closed the previous year.

Because of what has been termed "recession resiliency," the student housing market is termed stable, despite rising prices and worries about overbuilding. J. Ryan Lang, executive managing director of the ARA Newmark Student Housing office in Austin, Texas, notes that this asset class was characterized by record transaction volume in the second half of the year.

Student Housing Market Evolves, Remains Strong

Foreign investment and large portfolio transactions in previous

201 Views, 0 Comments

Surban Centers Fill a New Need for Coordinated Lifestyles"Surban growth" may be the next phase of a changing development picture that will play an increasing role in real estate during the coming years.

Development demographics are shifting—but rather than there being a distinct separation between urban and suburban, the newest trend involves a melding of the best of both. This "surban" appeal redefines some of the traditional labels of generational context, employment status and even family makeup.

Emerging Trends of Future Growth

A fascinating look at the emerging future of a population—and an economy—in transition points to a reorganization not only of the "where" but also of the "who." It promises to affect the housing market as well as commercial development and city planning efforts, and

217 Views, 0 Comments

Minneapolis Development Projects Continue ApaceEven though Minneapolis was never considered a top contender in Amazon's city search for its HQ2, some analysts early in the year viewed the city's early elimination from the competition as a snub, and commented wryly on the city's status as "a clear loser." Former Shakapee Mayor Brad Tabke spoke out about the need for a new focus on housing and transit issues, adding that the local labor force (or lack of one) may also have been a factor in the city's early dismissal from Amazon consideration.

The face of development in Minneapolis may be unique, with a heavy focus on renovation, and on mixed-use redevelopment. Here's a quick overview:

Minneapolis: Moving Beyond Amazon Dreams

Now that Amazon's choice has been announced, it is fair to say

7,428 Views, 0 Comments

Why Changes in Foreign Lending May Drive Profits for Commercial PropertyForeign lending has always had an impact on commercial real estate, whether its effects are obvious or not. If a foreign bank can give a US corporations their dream rates, they're more likely to buy more property. If foreign banks make it easy to do business with US companies regardless of where they set up their branches, US corporations may choose to start moving more of their business overseas.

But there are a few ways in which this is beginning to change. As the world stage continues to shift at a rapid pace, the market has been busy responding to the turmoil. See how multinational corporations and small businesses alike can prepare for the trickle-down effects of changes in foreign lending.

The BEAT Tax

There has been a lot of

1,219 Views, 0 Comments

Staging Your Commercial PropertyIn real estate, staging is the act of dressing up a property so that it looks its best. Staging is usually a term that people hear in the residential real estate market. Wright County homeowners are told that staging a property can increase profits by about $2,000, but little is said about commercial real estate. Property owners are left with the question, should they stage their commercial property just like homeowners? Is there value in staging? The short answer is yes.

The Value of Staging

Buyers who purchase commercial real estate shop with their eyes, just like home buyers. When they note the condition of a building, commercial property buyers make some of the same assumptions that home buyers make.

This is to say, buildings that

6,638 Views, 0 Comments

How Timber Is Changing the Commercial Real Estate IndustryTimber has been making a rather big splash across the commercial real estate industry due to a number of changes in both industry and public demand. New lamination methods make it possible to use wood in large commercial projects (even skyscrapers), edging out more traditional options like concrete or steel.

In addition to the technology advancements, timber has environmental benefits that many are hoping can serve as an answer to our current crisis. It can cut down on building's carbon footprint by up to 60%. And while it's not quite taking the world by storm just yet, it's certainly a trend to watch in the next few years.

A Look Back in History

Timber is usually associated with the quaint cottages of yore, mostly because it didn't take

296 Views, 0 Comments

Planned Redo of a Period Movie Theater Honors Old TraditionsAn upcoming renovation of the Suburban World Theater in Minneapolis is right in sync with what's happening across the country. Savvy investors and developers are capitalizing on a growing trend to capture the bygone elegance and traditional appeal of the silver screen era in a high-tech age.

There's a twist, however. Rather than trying to resurrect the glory days of film, the new owners hope to recapture the grandeur of the architecture to wow audiences at a new event venue. The new theater will also allow live performances at the period movie house which debuted in the 1920s as The Granada, and operated as a theater until 1999, when the last film was shown.

Since then it has seen a variety of incarnations, including a stint as The Cinema

200 Views, 0 Comments

Staying Fit While On the Road Is Easier than Ever BeforeHealth and fitness are big business all over the world. Business travelers as well as vacationers are as likely to pack workout clothes and running shoes as business suits and casual attire. At the beginning of the 2018, more than 4,000 fitness pros identified 10 fitness trends they believed would dominate the scene for the coming year. Among them were some surprising choices.

Top Fitness Trends for 2018

The annual survey conducted by the American College of Sports Medicine, included responses from professionals in 41 countries across the globe. Here are the results, in order of response frequency:

  1. High-Intensity Interval Training, workouts that generally are 30 minutes or less in duration
  2. Group Training and Fitness Classes
285 Views, 0 Comments

Rising Costs of Commercial Construction Worry Real Estate InvestorsAt a time when the economy seems strong, apartment and condo developers are trying to balance growing demand against the rising prices of steel and lumber and the dearth of trained tradesmen. Record low unemployment numbers nationwide contrast sharply with record high number of unfilled jobs in many cities across the country. Labor shortages are especially worrisome for the construction industry.

The New Normal?

Market strength signals more than a classic good news-bad news scenario, according to many industry observers. It may, in fact, be the new normal, one that is going to require an innovative approach if the demand for new apartments and reasonably-priced housing is to be addressed in American cities. This is a change from last year, in

321 Views, 0 Comments