Episoder
-
Leading construction and finance experts gathered at Turner & Townsend’s New York office to discuss the impact of tariffs, interest rates, new technology, labor availability and more on commercial construction.
1. Uncertainty: The construction industry faces significant uncertainty due to volatile interest rates, higher tariffs and costs for materials and labor.
2. Contract Scrutiny: Detailed contract reviews, especially force majeure clauses, are crucial to manage risks.
3. Risk Mitigation: Strategies such as early material procurement, storing materials and increased contingencies in contractor agreements are essential to safeguard projects.
4. Labor Challenges: Rising costs and shrinking labor availability are critical factors affecting construction projects.
5. Affordable Housing: Despite market volatility, affordable housing projects continue due to the critical need for them and creative financing solutions.
-
Robinson Weeks Partners’ David Welch and CBRE’s Chris Riley discuss market opportunities and challenges in the industrial real estate sector. Chris will be leaving CBRE to join Robinson Weeks in a senior position effective June 1.
Share these insights on industrial & logistics real estate:
1. E-commerce helped the industrial sector grow, but a spate of development has created challenges.
2. Large-scale redevelopment projects, such as transforming former military bases, can yield substantial returns but require flexible planning, environmental cleanup and, often, partnership with the public sector.
3. Modern industrial buildings are designed with increased clear heights and advanced lighting to meet present and future occupier needs.
4. Highway and transportation access, utilities availability and environmental regulations are some of the critical factors in industrial site selection.
5. Staying informed about local regulations, zoning restrictions and community sentiments is vital for securing project entitlements.
-
Manglende episoder?
-
In this bonus episode, CBRE's new Global Head of Research, Dr. Henry Chin, discusses the current outlook for commercial real estate for both occupiers and investors.
Key Takeaways on the Economic and Real Estate Outlook
· Market Sentiment: Real estate fundamentals don’t change overnight. Leasing activity is proceeding across asset classes though some occupiers are delaying decisions until they have more clarity on potential policy changes and their economic impact.
· Economic Indicators: Monitoring not only job growth and inflation but also softer indicators like travel bookings and restaurant reservations provides a feel of the real economy.
· Nimble Capital: High-net-worth individuals can move quickly to pounce on attractively priced opportunities.
-
Galvanize Climate Solutions’ Joe Sumberg and CBRE Chief Sustainability Officer Rob Bernard share insights on achieving high returns through sustainable investment strategies.
· Profitable Sustainability: Commercial real estate investment strategies that integrate today’s sustainability and decarbonization technologies can enhance returns.
· Economic Opportunities: There is high occupier demand for green buildings, presenting investment opportunities.
· Technological Integration is the key: Using energy-efficiency systems and AI can enhance the operating performance and value of real estate assets.
· Strategic Market Focus: Regulatory frameworks and government incentives can increase the appeal of sustainable investment strategies in certain markets.
-
Each new generation brings opportunities and challenges to the workplace. Recorded live at ICSC Detroit, leaders from two Michigan-based real estate families, the Schostaks and the Friedmans, discuss the hard but necessary conversations and choices required to maintain a multi-generational enterprise.
Share these insights on succession planning in family-owned businesses:
· Succession Planning: Establish clear governance and involve family members in decision-making to ensure smooth leadership transitions.
· Leadership Transition: Transferring leadership to the next generation requires structured processes and clear roles.
· Family and Business Balance: Balance family dynamics with business operations, making necessary sacrifices for success.
· Adaptability: Evolve business models and diversify services to stay competitive.
· Economic Resilience: Maintain liquidity and seize opportunities during economic downturns.
-
Stories are what make information memorable and communications more impactful. Author and business consultant Esther Choy discusses business storytelling, emphasizing how engaging narratives can be more persuasive and increase connections with audiences.
Share these insights on how to use storytelling to improve the impact of communications
1. Remember the “IRS” model: The Intriguing Beginning, Riveting Middle, and Satisfying End framework helps professionals craft compelling narratives.
2. Make emotional connections: Effective storytelling connects with audiences on an emotional level, enhancing understanding of information that influences decision-making.
3. Be memorable: Storytelling makes your messages more memorable and meaningful.
4. Express empathy and curiosity: A good business story, like any story, feels human and personal, while delivering an insight.
-
Wharton organizational psychologist and New York Times-bestselling author Adam Grant shares insights on making better business decisions, fostering innovation and how your personal "challenge network” can lead to superior products and delight your customers.
Share these insights on how to be a successful leader:
1. Encourage Humor and Humility: They help maintain a flexible and open-minded approach, making it easier to rethink and adapt.
2. Have Pre-Mortems: Discuss as many potential failures as possible before launching. That way you can prevent or know how to handle problems when they occur.
3. Eschew Best Practices for Better Practices: “Best Practices” implies there’s only one right way, while seeking “Better Practices” encourages people to innovate and try new things.
4. Build a Challenge Network: Maintain a group of trusted critics who provide truly honest feedback to improve your decision-making.
5. Reward Speaking Truth to Power: Encourage employees to ask questions, suggest improvements and challenge outdated ideas.
-
Manulife’s Jessica Harrison and CBRE’s Kevin Aussef join us from the CBRE Investor Symposium, where they highlight investment opportunities, particularly in alternative asset classes.
Share these insights:
- Market Momentum: Real estate capital markets are gaining momentum, as the gap between buyer and seller expectations narrows.
- Strategic Investment: Sectors like affordable housing, cold storage, and industrial outdoor storage present attractive opportunities.
- Market Reset and Repricing: Investors are setting their sights on higher returns, even for lower-risk assets.
- New Approach: Manulife has transformed into a private equity real estate investor and launched new investment strategies to capitalize on market opportunities.
- Tech Advances: AI enhances operational efficiencies and predictive analytics, improving underwriting and investment decisions.
-
We explore Chicago's vibrant real estate scene with CIBC’s Karen Case and CBRE’s Lisa Konieczka. They discuss market dynamics, Fulton Market's emergence and transformation, and ongoing capital markets challenges and opportunities.
Share these insights about Chicago real estate:
- The Big Split: Chicago's office market is bifurcated: creditworthy occupiers looking for high-quality space will have limited options while much of the rest of the market languishes amid a glut of space.
- Important Amenities: Advanced technology, workout facilities and unique features in the best buildings will help attract tenants and draw people back to the office.
- Capital Markets Challenges: High costs and limited access to capital have slowed new development significantly, exacerbating the shortage of premium-quality space.
- Transportation Networks: Chicago's excellent transportation infrastructure supports its diverse economy and enhances its appeal as a business hub.
- Strategic Transformation: Fulton Market has evolved into a vibrant live-work-play area, attracting major tenants and showcasing successful urban redevelopment.
-
Two self-storage experts—Merit Hill Capital’s Liz Schlesinger and CBRE’s Nick Walker—discuss the sector's strong long-term fundamentals and near-term challenges facing this resilient asset class, including a tepid housing market.
Share these insights about the self-storage industry fundamentals:
Operators understand the customer: Self-storage customers prioritize proximity and convenience over amenities.Data plays a huge role: Savvy investors use data to inform site selection and identify market trends such as the increasing demand for units in urban areas.The housing market impacts demand: Investors should be aware of the potential risks and opportunities associated with housing market fluctuations.Operational expertise required: Self-storage relies heavily on operational expertise to maximize returns. -
Ray Washburne is an accomplished investor with an eclectic portfolio that spans shopping centers, restaurants, energy and more. Washburne offers a unique perspective on market trends, Investment opportunities and the the evolution of cities.
Retail
Unique Identity Wins: Local restaurants and regional brand dining experiences are essential to attracting visitors to a city or neighborhood.Bifurcation of Retail: High-end luxury retailers and those that offervalue to consumers are doing well.Office
Demolition Over Conversion: Many older offices are being demolished due to high conversion costs and antiquated construction.Amenities Matter: Office buildings with unique amenities are commanding higher rents and driving tenant demand.Cities & The Economy
· Urban Revitalization: Cities are experiencing a resurgence with new developments driving growth and investment.
· Caution Persists: A large federal deficit, high consumer credit card debt, and sticky inflation are making it essential for investors to be prepared for extended volatility.
-
Swire Properties’ Henry Bott and CBRE's Troy Ballard examine Miami's growth, appeal to global investors and the Residences at Mandarin Oriental, Swire's luxury condominium project on Brickell Key Island.
Share these insights about opportunities in Miami:
Miami is thriving: The city is growing rapidly, with strong demand for housing driven by an increasing population.Luxury housing is in demand: The Residences at Mandarin Oriental is a prime example of the demand for high-end housing in Miami.International investors: Miami’s multi-faceted appeal is attracting buyers from around the world.Demographics are changing: Brickell, for instance, has attracted a younger population base.Adaptive re-use opportunities: The office market in Miami has softened, but conversion and redevelopment projects are underway. -
Stoneshield Capital’s Juan Pepa and CBRE's Adolfo Ramirez-Escudero discuss Spain's economic renaissance, which has engendered bountiful investment opportunities.
Share these insights about investment opportunities in Spain:
Spain has great fundamentals: Gone are the dog days following the Global Financial Crisis. Spain's high economic growth rate has made it an attractive investment destination.Focus on alternative real estate sectors: Some of Spain’s strongest sectors are student housing, life sciences and seniors housing.Renewable energy is in demand: Interest in energy and sustainable infrastructure, particularly around data centers and the industrial sectors, is high.Big pharma has a big presence: A consolidation of big pharma companies makes the region attractive for life sciences investment.It’s a business-friendly environment: Incentive programs and a supportive regulatory environment has drawn inbound capital. -
This week we shine a spotlight on San Francisco, a market that is showing increasing signs of shaking off the post-pandemic doldrums. Listen to a wide-ranging discussion as The Bay Area Council's Jim Wunderman and CBRE's Joe Wallace explore the growing impact of AI on local economy and real estate market, opportunities across sectors, public-private collaborations and the city's budding revival.
Share these insights from this week’s episode:
Tech and AI Potential: The growth of AI is contributing to an economic revival in San Francisco.Office-Space Dynamics: Office leasing improved notably in San Francisco in Q4 2024, driven by its strong tech tenant base.Housing Development: Increasing the availability of affordable housing is vital for maintaining the city's workforce and economic growth.Infrastructure Improvements: Enhancing transportation—including the city’s historic trolley—and other infrastructure systems will support the region's growth.Cultural and Tourism Appeal: San Francisco's unique culture, diversity and lifestyle continue to attract talent and investment. -
Jamie Hodari, CBRE's CEO of Building Operations & Experience, spotlights where he sees the biggest opportunity across commercial real estate: workplace experience. He discusses how a company’s space can attract tenants and enhance the employee experience, enriching people’s lives and increasing business effectiveness.
Share these insights from this week’s episode:
Everything is operational real estate: Real estate companies are evolving from asset focused businesses to operating platforms, requiring high-quality management relentlessly focused on workplace experience.AI and data utilization are no longer nice-to-haves: Using AI to manage and interpret data is crucial for optimizing building operations.Markets are adapting to accommodate hybrid work models with flexible office usage: Urban markets especially put significant emphasis on making downtown areas vibrant.Finance institutions are catching up: The finance industry must recognize and adapt to the operational nature of modern real estate.Flight-to-quality is expanding: The focus for landlords and occupiers will increasingly be on creating spaces that people find enriching and valuable, not just functional. -
With a twist on the conventional lodging business model, Extended Stay America (ESA) has seen impressive growth in recent years. ESA CEO Greg Juceam discusses managing its real estate portfolio and provides insights on the business of long-term accommodations.
Share these insights from this week’s episode:
Investment Potential: The extended-stay lodging segment offers a resilient and growing opportunity, particularly in secondary and tertiary markets.Operational Simplicity: Extended-stay hotels can benefit from streamlined operations and less labor requirements.Scalability: ESA’s model combines ownership and franchising, enabling multiple avenues for growth and scalability.Diversified Demand: The diverse range of guest demand drivers -- from construction crews to long-term healthcare treatments to digital nomads -- tends to support stable occupancy rates.Strategic Expansion: ESA’s focus on new builds and strategic acquisitions positions it well for future growth, even in challenging capital markets. -
High-net-worth individuals and family offices can be a lucrative, though difficult-to-access source of real estate investment capital. BNY Mellon's Boryana Zamanoff and CBRE's Zaahir Syed and Compie Newman discuss how to tap into funding from family offices and the strategies these investors are employing under current real estate market conditions.
Significant Pool of Capital: Family offices and high-net-worth individuals collectively represent hundreds of billions of dollars seeking real estate investment opportunities.
Access and Relationships: Family offices often do not entertain unsolicited approaches. It's crucial to build trusted relationships with their advisors who act as gatekeepers.
Investment Preferences and Structure: Family offices often prefer direct investments and opportunities where they can have more control and flexibility.
Market Conditions and Opportunities: High interest rates and current market conditions have prompted family offices to invest cautiously with a focus on data centers, logistics and housing.
Evolving Preferences: The preferences of the next generation are critical considerations. Younger family members often prioritize impact investing and newer asset classes.
-
Industry experts address the critical topic of property and casualty insurance, a topic that is acutely relevant amid the devastating fires in Los Angeles. AON’s Ryan Barber, Walton Street Capital’s Raphael Dawson and CBRE’s Chris Nassa discuss approaches that can help commercial real estate owners manage risks and stem rising costs.
Share these insights from this week’s episode:
Innovative Modeling: Property owners should adopt a sophisticated approach to risk management, using advanced tools and models to inform their insurance decisions.Captive Insurance: Owners with large portfolios should consider captive insurance and other programs to manage costs and realize profits.Data Accuracy: Providing detailed and accurate information about properties can significantly impact insurance modeling and premiums.Stay Informed: Companies should designate an in-house expert dedicated to staying informed about insurance market trends and innovations crucial for effective risk management. -
Hala Moddelmog of the Woodruff Arts Center and CBRE’s Nicole Goldsmith discuss Atlanta's economic and cultural development, highlighting the role of diverse talent, sports, the arts and entertainment and a welcoming business climate in its rise.
Share these insights from this week’s episode:
Corporate support, cultural institutions and educational resources fuel Atlanta's economic development.The growing preference for mixed-use environments and high-amenity office spaces has attracted global brands and talent.Major sporting events like the 2026 FIFA World Cup and strategic urban development projects will continue to shape Atlanta's global standing.Addressing infrastructure challenges, particularly in the transit system, are key to supporting future growth.One of the most educated cities in the U.S., Atlanta’s ability to retain its diverse, highly skilled workforce is critical for sustained success. -
What will 2025 hold for the global economy and real estate? Selma Hepp, CoreLogic Chief Economist, and Richard Barkham, CBRE Global Chief Economist, discuss where they see opportunities and challenges and a few things to keep an eye on.
Share these insights from this week’s episode:
Despite continued high interest rates, the economy is expected to perform well in the near term, driven by a resilient consumer.Housing sales are expected to remain subdued due to persistently high mortgage rates and ongoing affordability Issues.Real estate is at the beginning of a new cycle with retail and industrial particularly well positioned.Increased insurance costs and property taxes have exacerbated housing affordability challenges. - Vis mere
