Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days.
• 5 Ways Multifamily Benefits from Big Box Retail ERP Compliance by Scott Matthews of Multi-Housing News
Key excerpt:
"While ERP systems are all but essential, they still come with challenges. When something breaks or goes wrong with a property or unit, for example, maintenance professionals might be forced to make non-compliant purchases at retailers not registered in their system, which leads to a much higher cost-per-invoice. Today however, big-box retailers like The Home Depot are registered in many systems –providing new opportunities and advantages as a compliant vendor. From access to local stores to a personalized catalog, big box compliance with ERP systems is help to enhance and simplify procurement practices."
• Office, Multifamily Construction Expected to Drive Gains In 2016 by Randyl Drummer of CoStar.
Key excerpt:
"The continued strength of multifamily construction has driven total residential building, up 18 percent this year, with single-family resuming an upward trend after plateauing last year. Total nonresidential building has decelerated this year after surging 24 percent in 2014, and is now predicted to be flat to slightly down given a sharp pullback for new manufacturing plant starts and some loss of momentum by the commercial and institutional building segments, [Robert] Murray said.”
• Sustainability: The New Norm in Real Estate Development and Investing by Byron Carlock for National Real Estate Investor.
Key excerpt:
"For a commercial building to be able to proclaim sustainability and eco-friendliness is one of its best marketing tools. LEED certification has become a de facto standard for many U.S. cities and Class A buildings. The U.S. Green Building Council-issued LEED certification is awarded to new and renovated office buildings, interiors and operations based on how they’ve adopted best practices in energy, lighting, air quality, water usage and more."
• The U.S. Commercial Real Estate Could be Seeing Growth by Realty Today.
Key excerpt:
"According to Investor Daily, basing on the NCREIF Property Index, the total yields from commercial property market are on course of achieving a six consecutive calendar years where double-digit performance was observed since the global financial crisis. There is growth observed in the latest survey executed by Pension Real Estate Association in the U.S., making analysts see positive views.”
• Office Development Jibes with Demand Uptick by Paul Bubny of Globe St.
Key excerpt:
"The services firm reports that deliveries of office product have come in between 18 million and 20 million square feet nationwide over each of the past four quarters. In Q3, for instance, 321 buildings totaling 18.8 million square feet were added to the US office base, which now stands at nearly 10.6 billion square feet, with another 139.7 million square feet getting underway by quarter’s end. 'Given vacancy’s gradual and consistent decline, it appears that new construction is balanced well with overall leasing activity,' according to the report."