WASHINGTON, DC-If you missed last week’s NAIOP Development ’12 Conference here, there were 700 developers, owners and investors diving into the details of commercial real estate, now and into next year. Players in the industrial sector, in particular, are looking for new global territories, but are also very cognizant of the economic and political unease both here in the United States as well as around the world.
Prologis’ Jay Cornforth (video interview below) says his firm has made significant inroads on four continents—paying particular attention to Brazil, China, Japan and Toronto, Canada. Cornforth says nowadays, being nimble and entrepreneurial is the key to success.
In the meantime, Jones Lang LaSalle’s Joe Brennan (video interview below) with the firm’s Government Investor Services weighs in about the difficulty for the US federal government to make long-term commercial real estate decisions under the current political climate. Brennan says the pending presidential election should give everyone more clarity in the months to come.
One commercial real estate sector that’s clearly not waiting for politics is the industrial-development sector. Companies like McShane Development are expanding into port markets like Houston and the San Francisco Bay area, where trade is once again active and growing. McShane’s John Dobrott (video interview below) says when they’re looking to build, they not only look at macro-economic factors, but also drill down into the places where the competition for big-box space is tighter, and it’s all being driven by growing consumer demand.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
