Colonial Commercial Real Estate LLC’s Post

Converting Office to Industrial Space is Picking Up Steam: Brian Smith of JLL weighs in on the trend, via GlobeSt.com One of the growing trends in #commercialrealestate is converting vacated #office space into #industrial use. Since the onset of the pandemic, more #employees have been working from home. While office vacancies in some markets are recovering, it's still nowhere close to 2019 levels. Of course, CRE #developers have noticed that trend and are getting creative. During the year-to-date through August, a recent #JLL report shows that 17.3 million square feet of office space has been converted into other property types in the country. And since the 1990s, that number has exceeded 150 million SQFT. Also, according to the data, multi-family has dominated the trend from 2021-2024, controlling 53 percent of project redevelopments and conversions. However, industrial is emerging, nearly doubling from just four percent during 2010-2019 to seven percent between 2021-2024. "Industrial really has been, the star of all the different sectors coming out of Covid, especially in metropolises that are super high density, like South Florida," Brian Smith, executive managing director/SFL industrial lead of JLL, tells GlobeSt. "There was such a constraint on land, so there was a lot of pressure put on products. The result was rents skyrocketed, [and] pretty much doubled in two years. So developers were forced to start to get creative and look for land anywhere they could." Schwartz Media Strategies Audley Bosch Sky Groden, SIOR Law.com

Secure advantageous lease terms before the market dynamics change. Our Lease Expiries paper guides you through the 'window of opportunity' to elevate your real estate strategy. Don't miss out! Read more: https://cushwk.co/4eiBEfj #LeaseExpiries #RealEstateInsights #CorporateOccupiers

In an era where office real estate faces unprecedented challenges, the contrarian investor sees a canvas for opportunity. Amid foreclosures and depreciating asset values lies the potential for substantial returns, but realizing this potential requires more than just ambition—it demands exceptional property management. Herein lies the untold story of how good property management can be the linchpin for transforming office real estate into performing assets. #realestate #investment #realestateinvestor #properties #propertymanagement #realestateinvesting #miamirealestate #miami #propertymanagementmiami

The office market is still feeling the pressure from rising interest rates and reduced occupancy, driving down property values. While these challenges are significant, they also present opportunities to reimagine and repurpose outdated spaces to better fit today’s work environment. Adapting will be key to navigating this evolving landscape. https://lnkd.in/gG3zd96E

Newmark Valuation & Advisory presents Newmark's Salt Lake City Utah Real Estate Market Report presents quarterly data and trends on the local office and industrial market. The information in this report is helpful for commercial real estate owners, occupiers, and investors to define logical next steps and opportunities. ➡️Download Newmark Research's Salt Lake City Office and Industrial Quarterly Market Reports here: https://nmrk.re/3rNMCFU ➡️For more information on Newmark Valuation & Advisory in Utah: https://nmrk.re/3Oz10dW Reach out to Newmark Valuation & Advisory's Rocky Mountain Market Leader, Brad Weiman, MAI to learn more about #SaltLakeCityRealEstate valuation & trends. #Office #Industrial #Valuation #CommercialRealEstate #UtahRealEstate

It is no secret that real estate is entirely based on location. A prime example is the divergence in Office buildings from city to city. This is why local market knowledge is paramount as well as a bottom-up underwriting process. https://lnkd.in/d_vPDeBf

Do you like the hardwood floors in this home office? Advisory Real Estate Professionals educating, empowering and protecting Silicon Valley Home Sellers and Buyers since 1981. How can we help you plan one of the largest investments of your life?

The importance of a good lease is more critical for corporate tenants now than ever before. Because we are not dealing with any old leasing environment. We’re navigating in a post-Office Apocalypse commercial real estate industry where knowledgeable tenants can drive once-in-an-era advantageous deals if they do it right, and on the other hand landlords are defaulting left and right. That means prospective tenants are in a precarious position, dangling between great deals and the potential that they may eventually be too good to be true. #CRE #Leasing #Clauses #Office #TenantTips #TenantRep #CorporateRealEstate https://hubs.li/Q02jtPSd0

More on the Commercial Real Estate market.

Ultimately, navigating the complexities of commercial real estate requires a holistic approach that considers both immediate needs and long-term objectives. By carefully evaluating concession packages, aligning lease terms with business goals, fostering clear communication, and managing cash flow and risk effectively, tenants can make informed decisions that support their overall business strategy. #commercialrealestate #CRE #immediateneeds #longtermobjectives #costeffectivelease #flexiblelease