One word describes the state of today’s commercial real estate industry better than any other — change.
That’s the underlying message of the Urban Land Institute’s latest Emerging Trends in Real Estate report. A joint project of ULI and PwC, the report considers the feedback of more than 750 real estate professionals and offers a high-level overview of the most important trends shaping the industry.
Tenant demands are shifting, the economic outlook is uncertain, and technology is impacting everything from industrial logistics to end user experiences. At the same time, demographics are evolving to move the emphasis from downtown markets towards 18-hour cities and amenities are defining the new generation of commercial space.
From locating stability in transformational markets to understanding the role of technology, here are four of the most significant takeaways from the ULI report.