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Securing project approvals, assessing inherent project challenges early and leveraging advantages are key when redeveloping old or outdated industrial properties for modern use, Premier's Steven Gabbert tells GlobeSt.com.
But supply pressures may lower vacancy in IL as developers in the metro of Chicago have roughly 4,000 rooms under construction, according to Marcus & Millichap.
“When a decision-making team polls its workforce to understand what is most important to them, I think amenities are going to be the number one item on the list.”
The main reason is yield, since investors are accustomed to a certain pricing level and yield expectations, and markets like Arizona, Texas and Colorado can offer it, M&M's Nick Totah tells GlobeSt.com.
Totally different, according to new retail research from CBRE, which shows more integration between online and in-store and a totally revamped customer experience.