Carefully Tiptoeing into 2018: A Commercial Real Estate Outlook (NAIOP Market Share)

“Carefully Tiptoeing into 2018: A Commercial Real Estate Outlook,” NAIOP Market Share

In an article published Jan. 29, 2018 on the Commercial Real Estate Development (NAIOP) Market Share blog, B.A. Spignardo discusses anticipated trends in the commercial real estate industry this year. She mentions technology’s increasing presence in the industry, stating, “cutting-edge hotels implement ‘smart rooms,’ such that a guest’s experience is customized by the push of a button to specific lighting, heating a media preferences. This trend will trickle down to become more of a norm in the hospitality industry.”

While retail development is expected to grow in 2018, Spignardo explains that multi-housing development will slow, as the market heads toward oversupply. “As the year begins, major cities such as Washington, D.C., carefully toe the line so as not to cross into oversupply, which looms precariously close,” she shares.

According to Spignardo, the biggest issue facing the commercial real estate industry in 2018 is “suburban creep,” or the movement away from city centers, in large metropolitan areas. “As certain industries look for commercial space in the suburbs, employees look to establish their residential lives closer to their place of employment.” Spignardo states, “combatting suburban creep remains an issue, so that our cities are able to maintain businesses and people within their borders, thus enabling cities to innovate and thrive in 2018.”

You may read the full article here.