NAIOP Source News You Can Use

Take a look at some vital news items from the April 29th issue of NAIOP Source:

US Industrial Market Doing Well
According to a recently released first quarter report from Cushman Wakfield, the US industrial market performed well in the first quarter of 2014.  The report, titled “Industrial Investor Outlook and Trends” also expects the market to continue to be strong throughout 2014 and into 2015.  To view the complete article, with a link to the report, follow this link.

Understand a Retailers Multichannel Needs is Key
Retailers are providing more options for customers to purchase and return goods (multichannels).  As a commercial real estate professional, understanding a retailers multichannel needs could help you better place them in the space/location they need.  To read more, follow this link.

Network with NAIOP | May 14th

NAIOP Charlotte Spring Networking Event Join us at Hickory Tavern in midtown at the end of the workday to catch up with old friends, make some new connections and enjoy some light refreshments on the patio! Registration: This event is Free* for NAIOP Charlotte members who register by Friday, May 9th! Non-members can pre-register for the event for $15. Fees for both members and non-members who register on or after May 9th will be $25, so be sure to register ahead of time. *Members who register before the cut-off date but do not show up for the event will be invoiced for $15. Event Registration Location/Directions: This event will be held at Hickory Tavern, 1100 Metropolitan Avenue, Charlotte, NC 28204. Free parking is available in the Metropolitan garage. Directions to Hickory Tavern Questions? If you have questions about this event, please contact the NAIOP Charlotte office at 704-940-7383; or email us at info@naiopcharlotte.org Thank You to our event sponsor!

News You Can Use from NAIOP

The following information was originally published in the April 15th issue of NAIOP Source.  Reprinted with permission from NAIOP.

Bill Would Extend Terrorism Risk Insurance Program Seven Years

Senator Charles Schumer (D-N.Y.) last week introduced a bill that would extend for seven more years the Terrorism Risk Insurance (TRIA) currently set to expire at the end of 2014.   Read More

The Mall Will Survive

The death of the mall has been widely exaggerated, said a group of senior REIT executives gathering at the New York University Schack Institute’s annual REIT symposium last week. According to a Commercial Observer article, shopping malls are performing well despite many news reports to the contrary.   Read More

 

News You Can Use from NAIOP

The following information was originally published in the April 10th issue of NAIOP Source
Reprinted with permission from NAIOP

NAIOP Releases E-commerce Evolution
Before a widely attended audience last month at E.CON – The E-commerce Conference, NAIOP released E-commerce Evolution: Considerations for Commercial Real Estate, a reference guide quantifying the scope and impact of the e-commerce marketplace.   Read More

Weathering the Storm to Improve your Bottom Line
When it rains, it pours. For commercial real estate developers, strategic implementation of stormwater management (SWM) systems can benefit the environment and their bottom line.  Read More

Seven Bold Predictions for CRE
How will the world of commercial real estate change during the next 25 years? CNBC.com recently asked key players in the industry to reflect on “how commercial real estate will be buffeted by changes in demographics, technology, globalization, economic and environmental realities and a host of other trends.” They made seven bold predictions about commercial real estate in 2039.   Read More

 

 

Environment Committee Recommends Extension of Citywide Mitigation Program

On Wednesday, April 2nd, the City Council’s Environment Committee voted to recommend a six-month extension of the citywide Mitigation program to allow staff and stakeholders to explore ‘other options’. NAIOP continues to monitor this situation.

Digital Downsize Saves Law Firms Space, Money

JLL Infographic

Originally published in the April 1, 2014 issue of NAIOP Source
Reprinted with permission from NAIOP

Workplace digitization has radically reduced the need for libraries, filing on practice floors and additional filing on concourse/basement levels of buildings, offering law firms more opportunities to lower costs, according to JLL.

The commercial real estate development firm has compiled the following data on the trend of digital downsizing:

  • Law firms that embrace modern layouts and enhanced efficiency measures can shrink real estate occupancy by more than 15 percent.
  • With fewer interior workstations needed in the legal world due to smaller office sizes and shrinking square footage requirements per attorney, today’s average workspace per attorney migrates in the range of 900 square feet to 550 square feet.
  • When law firms moved from one building to another in 2013, the new floor plate was 7.1 percent smaller.

Check out the infographic from JLL, capturing the transformation of legal space demand resulting from digitization.

EPA Proposal Could Muddy the Waters for Industry

Originally published in the April 1, 2014 issue of NAIOP Source
Reprinted with permission from NAIOP

Last week, the Environmental Protection Agency (EPA) released a proposed rule to clarify federal jurisdiction under the Clean Water Act and expand the amount of streams, creeks and wetlands under federal control.

In a joint statement released by the EPA and the U.S. Army Corps of Engineers, both agencies claim they are simply trying to address a “confusing and complex,” issue following Supreme Court rulings in 2001 and 2006. “For nearly a decade, members of Congress, state and local officials, industry, agriculture, environmental groups, and the public asked for a rulemaking to provide clarity.” Yet, the 2006 high court ruling restricted the government’s oversight by stating that water sources should flow continuously and be of a certain size, such as oceans, rivers, streams and lakes. According to an analysis by the EPA, the rule would impact approximately 1,300 acres across the United States.

The proposal has created controversy, with Congressional Republicans concerned that the effort is regulatory overreach by EPA and the Obama Administration. “We’re not certain what this means, but we’ve got a sick feeling in our stomachs that we know what’s coming and that it’s going to affect all Americans in a negative way,” said House Transportation and Infrastructure Committee Chairman Bill Shuster (R-Pa). Senator Lisa Murkowski (R-Alaska) expressed concern that the proposed change could “effectively give the federal government control of nearly all of our state.”

Of particular concern for NAIOP is a new definition of “tributary” that could include man-made ditches. While there is an exemption in the rule for ditches that are in up-lands areas, the rule is unclear as to what other types of ditches would now fall under the jurisdiction of the Clean Water Act and be subject to federal permitting requirements.

Upon publication in the Federal Register, a 90-day public comment period follows where NAIOP will submit formal comments to the agency and meet with EPA officials to address the potential impact the proposed changes would have on commercial real estate.