In a recent Deloitte survey, more than half of the commercial real estate brokers admitted that their firms lacked the digital capabilities to provide their clients with a more modern search and lease experience. And many still don’t have a clear understanding of the benefits being produced via the proptech industry. The digital tools you hear so much about in other industries, including AI, machine learning, and algorithms, have come to the commercial real estate market. But their adoption has not kept pace with their innovation.

Earlier this year, the PwC Emerging Trends in Real Estate 2022 report highlighted an interesting fact. While primary real estate markets, like New York and San Francisco were underperforming amid pandemic uncertainty, so-called “secondary” markets, like Nashville and Denver, have been seeing a renewed wave of investor interest.

2Q2022 Hanson Office Report

Kevin Goeller is a principal at NAI KLNB in Tysons, VA, with 36 years in commercial real estate (CRE) under his belt. Once again, he has made our Global’s Top Producers for the…

Welcome back to another edition of our commercial real estate (CRE) terms and definitions blog series. For this one, we’re delving into some of the sub-categories and terminology associated with industrial real estate.

Nearly 2.0 million square feet of space was leased during the first half of year, on par with the same level of activity recorded at the same time last year. Strong leasing volume translated into nearly 50,000 square feet of positive absorption.

Healthcare analysts suggest that based on recent trends, the medical office sector should remain robust for the next year. Thanks to continued demand for healthcare, and perhaps despite the continued popularity of telemedicine, the industry has remained relatively stable and recession-resistant.

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As a society, it appears we’ve become quite obsessed with what others have to say about us--especially in the world of consumer-based business reviews. Qualtrics, a leading experience management company, recently published some eye-opening statistics about the power of online reviews. Consider this--91% of 18-34 year olds trust online reviews as much as personal recommendations, and 93% of consumers stated that online reviews influenced their purchasing decisions. With the Millennial generation quickly filling the ranks of Corporate America and starting their own businesses, you can surely expect that reviews will be used as part of their decision-making process.

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Doug Finlay of NAI Peninsula has over 30 years of experience in commercial real estate (CRE) in Ontario, Canada. His career path started in commercial construction, in the field. He then had a life-changing interview with a design-build contractor who spotted his potential and gave him the chance to explore more options and said “Here’s your desk, see where you fit in”. Doug says “After several months of trying my hand at estimating, then project managing small contracts, I found my natural niche – business development and contract negotiation.

Although we can’t quite believe it, this is now the 13th edition of our commercial real estate (CRE) terms and definitions blog. In this series over the past year, we’ve explored and unpacked many of the common and not-so-common words and phrases associated with this fascinating and dynamic industry. In fact, it is this dynamism (of the field) that means these blogs continue to be some of our top-performing content, read by people around the world – both within the industry and those looking to break in.