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4 Commercial Real Estate Certifications Project Managers Should Earn
In the commercial real estate market, nothing is more valuable than information. Understanding how macroeconomic trends affect the sector is crucial to navigating challenging events like a looming global recession. Knowing which asset classes will provide strong ROI even when severe headwinds are battering the segment can mean the difference between having a good year…
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How Does Your Real Estate Sustainable Development Policy Stack Up?
With a recession looming and a labor shortage disrupting the industry, sustainable development policies aren’t top of mind for real estate developers. But recent events, including the passage of the Inflation Reduction Act, have made it clear that needs to change.
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Rising Inflation Could Cost the Commercial Real Estate Sector $733B in 2022
The U.S. Bureau for Labor Statistics recently reported that the consumer price index rose by 0.1% last month and 8.3% year-over-year. Market analysts expressed surprise that the U.S. Federal Reserve increasing interest rates by 2% this year didn’t curtail America’s rising inflation rate. The unexpected outcome also strengthened some experts’ conviction that a recession is…
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What Are Construction Hard Costs?
In commercial real estate development, your expenses will fall into two categories; construction soft costs and construction hard costs. Soft costs are related to predevelopment, like purchasing land, hiring architects, and paying inspection fees. By contrast, hard construction costs are directly related to the physical construction of a building.
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Commercial Real Estate’s Most Critical Issue: A Labor Shortage
Commercial real estate executives have a lot to worry about these days. Inflation and rising interest rates, continued supply chain challenges and an unstable geopolitical environment have all but ensured a restless night’s sleep, but in the last 12 months, a new challenge has emerged to trump them all: a labor shortage.
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How the Inflation Reduction Act Impacts Real Estate Developers
In mid-August, Pres. Joe Biden signed the Inflation Reduction Act (IRA) of 2022 into law, which aims to significantly reduce the United States’ carbon footprint, cut prescription drug prices, and curb inflation. The $430 billion legislation includes provisions designed to bolster green building projects and energy-efficient renovations via major tax incentives.
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These are the Best Markets for Office Building Development
Over the last two years, U.S. companies have had their teams work remotely during the coronavirus pandemic. But with the Centers for Disease Control and Prevention recently recommending an end to quarantine and social distance mandates, firms have been eager to bring their employees back to the office. However, many staffers based in major cities…
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How to Speed Up Real Estate Development Reporting
Reporting is an essential part of real estate development but also a source of frustration. Drafting draw request packages for complex projects can involve hundreds of thousands of documents, and gathering that information is very labor-intensive. Then there’s all the manual work involved with inputting bid, invoice, and change order data from countless emails onto…
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3 Ways Owner’s Rep Leaders Can Position their Firm as an Industry Frontrunner
Becoming an industry leader in the commercial real estate development space is challenging because it is a highly competitive and capital-intensive field. And with the United States on the brink of a recession, that goal is even more elusive as lenders face increased federal government scrutiny and buyers feel pressure to pull out of deals amid rising…