FasterForwardFartherTowards a Better Future

Over the last few years, the “future of retail” has been a big talking point in an industry striving to meet changing consumer needs and preferences.

Among seasoned commercial real estate (CRE) professionals, it’s widely understood that a deal’s success relies on more than just ensuring it pencils out. While strong fundamentals are crucial, the markets we operate in are also shaped by numerous intangible factors—with one of the biggest being the prevailing market sentiment.

At the start of 2023, McKinsey released a report detailing the rapid surge in demand for data center real estate. They also projected that the industry would grow by around 10% per year through 2030.

Among the major trends we’ve seen in recent years is a shift towards greater work-life balance and a growing expectation of convenience in our day-to-day.

Though it’s always been “big business”, the past several years has seen a dramatic spike in the number of people prioritizing health and wellbeing.

The biggest CRE trade show in North America, ICSC Las Vegas, took place during its usual third week of May and this year’s convention gained on the momentum of the past two years as we move further along from the pandemic era.

In mid-May NAI Global’s Property Management Council hosted a Spring Conference in San Diego. Produced by the Council’s leadership board, the 2.5 days of presentations and networking were moderated by 2024 Council President Elizabeth (Beth) Barnes with NAI Plotkin in Western Massachusetts.

Office and industrial—two commercial real estate sectors with very different circumstances currently, yet both operating in the same uncertain economy. We sounded out five industry leaders in office and industrial brokerage on what they’re seeing and what they expect in 2024 within their markets and sectors.

“I was born and bred in a REIT,” says Jennifer Trent, CPM, CRRP, Principal and Director of Asset & Property Management with NAI Southcoast, based in Stuart, FL, when asked, “what has been the key to her success in commercial real estate?”

For experienced commercial real estate (CRE) professionals, acronyms like CCIM and SIOR are part and parcel of everyday terminology. Often, these kinds of designations serve as professional “short-hand” – indicating credibility, specialized knowledge, and a specific and desirable skill set.