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.
• Survey Forecasts Favorable Real Estate Conditions for Next 3 Years by Sarah Borchersen-Keto of REIT.com.
Key excerpt:
"'The U.S. economy continues to move forward, albeit not always in a straight line’ said Calvin Schnure, NAREIT senior vice president for research and economic analysis and a respondent to the ULI survey. 'Improving fundamentals are likely to boost occupancy and rent growth for REITs and commercial real estate markets for the next few years.'"
• MPF: Effective Rent for New Residents Hits 5.9% in 3Q by Multifamily Executive.
Key excerpt:
"For rents to grow, there needs to be demand for apartments. That was certainly the case in the third quarter, when demand for apartments across the nation’s 100 largest markets came in at 85,689. That surpassed concurrent deliveries, which totaled 69,299 units. MPF says properties under construction in the 100 largest metros at the end of the third quarter totaled 436,407 units, which was on par with the average for the past 10 quarters.”
• How to Cater to Gen Z this Holiday Season by Samara Anderson of Chain Store Age.
Key excerpt:
"Because of their deep knowledge of technology, members of Gen Z will research your brand and make their own decision about whether or not they want to shop with you before they’ve ever set foot in your store. Technology has morphed Gen Z into autodidacts by giving them the ability to find information on their own. It’s important that retailers maintain a consistent brand and user experience, both in-store and online, in order to appeal and properly market to this generation."
• CRE Prices Are Now Officially Above Pre-Recession Peak by Elaine Misonzhnik of NREI.
Key excerpt:
"Moody’s and Real Capital Analytics (RCA) released their joint Commercial Property Price Indices (CPPI) this week and it shows that the all-property composite index has now surpassed its November 2007 peak for the first time on an inflation-adjusted basis. The all-property composite index is now 14.5 percent above the one for November 2007 on a nominal basis and 1.5 percent above peak on an inflation-adjusted basis."
• Five Factors That Matter When Choosing Retail Space by Jason Brucella of Reoptimizer.com.
Key excerpt:
"Many industry experts will tell you that the most important factor determining the success of a store is the number of cars or pedestrians (in urban settings) that pass by every day. Traffic counts give you a quick measure of the total universe of potential customers that will go by your door and, for most types of retail property, it's impossible to have too much as long as the traffic has good access to the property."