Rapid Prototyping: Exactly what it says, made possible in large part through advancements in computer imagery and 3-D printing. New designs for car parts, tools, furniture, are now rapidly conceptualized, produced in mock-up and tested before production. With less waste in entire projects and production of individual products, this trend is causing a shift toward more “clean” space.
Does everyone believe that hotels and motels are still on the skids? They are not and have not been for a couple of years.
Doing extensive apartment rent/amenity surveys in our client markets over the past few years has caused notice of two trends. Regardless of age, prospective residents want to: 1) live in a green(ish) apartment, and 2) walk down the hall to work.
In the commercial real estate world, standards and expectations that have withstood the test of time continue to be challenged. This is a good thing. We all benefit by being open to evolving concepts.
On-Site Perk Provision: On-site lunch (catered even!), child care and laundry service. This continuing/current trend was most notably pioneered (well, re-pioneered) by large well known tech companies such as Oracle and Google.
Since now every season is real estate property tax appeal season, I would like to celebrate by sharing something I gleaned from a hotel appeal last week. An Appellant Rep’s Appraiser reconstituted an operating statement out of a combination of industry data and the “actual” income and vacancy from the previous year.
Probably the thing we most enjoy doing is helping Assessment Professionals solve valuation dilemmas. Here is a case study from a couple of weeks ago in one of the Chicago “Collar” counties:
Since we physically cover a bunch of ground doing our income-property surveys for clients in several states, I get the opportunity to personally observe regional differences and similarities. One interesting thing noted over time is how differently the Great Recession has (or has not) affected retail and office vacancy rates in some areas.