Today’s CRE professionals literally carry their office in their pocket. Thanks to cloud technology they can have access to virtually any document, anytime, anywhere.  Thanks to the cloud, real estate is becoming a digital service.

On an island that’s 99% developed, where can you go but up? The answer is obvious: Down. With space become ever tighter and more costly in Manhattan, the idea of using so-called “lower-level” space is catching on in a big way.

The market for office space is competitive and complex. Potential tenants have requirements in mind for location, square footage, energy efficiency and other property features. A very visible and critical element is the amenities offered in a space. This has gained importance in the past decade, and is essential in any premium office space.

For the last several years, the big news in commercial office space has been the dominance of technology-related firms. Their demand for space –particularly in urban properties near city amenities -has helped to spur rent growth in major markets. Office leasing by technology firms is the fastest-growing segment of the office market, accounting for 20% of U.S. office leasing activity in the past year.

According to data from Pew Research, this year for the first time, there will be more Millennials than Baby Boomers in the U.S. The Census Bureau predicts that they’ll outnumber the Boomers by almost half a million, and the difference will only grow as the years go on. Millennials make up the generation born roughly between 1980 and 2000, and their lifestyle preferences are having a big impact on commercial real estate.