Perspectives

From Materiality to Risk Mitigation: ESG at A Tipping Point for Real Estate

ESG at a Tipping Point was listed as the #3 issue in the 2021-22 Top Ten Issues Affecting Real Estate® by The Counselors of Real Estate®. Introduction Environmental, social, and governance (ESG) has reached a tipping point. In a 2019 McKinsey survey, 57% of CEO respondents said they believe ESG programs create long-term value, and 83%… Read more

Perspectives

Pushed Off the Diving Board: Accelerated Tech Adoption in the Golden Age of the Late Adopter

Technology Acceleration and Innovation was listed as the #2 issue in the 2021-22 Top Ten Issues Affecting Real Estate® by The Counselors of Real Estate®. Technology once again makes our Top Ten list but under different conditions and with more short-term implications. Constant themes like artificial intelligence (Al), machine learning (ML), the Internet of Things (IoT)… Read more

Will COVID-Accelerated Mobility Patterns Endure, Changing the Built Environment as We Know It?

Remote Work & Mobility was listed as the #1 issue in the 2021-22 Top Ten Issues Affecting Real Estate® by The Counselors of Real Estate®. Introduction COVID-19’s disruption during 2020 has significantly impacted the world’s economy, demographics, and human behavior in how and where they use space. While the general flow of people, the migration within… Read more

Perspectives

New York Tomorrow

“You can never step into the same river twice, since the river keeps changing and you keep changing.” The ancient Greek philosopher Heraclitus could have been referring to New York. He would have understood an evolving New York in an alarmingly transforming world. Pre-pandemic New York was the financial, cultural and media capital of the… Read more

Perspectives

Office is the New Retail: A Dynamic Property Sector Faces Painful Adjustments and a Bifurcated Recovery

Despite wholly different market dynamics, the office property sector is confronting some challenging adjustments coming out of the pandemic that eerily mirror those buffeting the retail sector. American office workers are preparing to venture out from their home offices and return to their company offices. But the workplace will not be the same. Most of… Read more

Features

The Stages in the Life of a Restaurant Property

Introduction A well-constructed restaurant building can stand for 40 years, or perhaps much longer. However, as this article seeks to explore, the economic life of a restaurant building, or the period for which this use remains appropriate and viable, can be, and often is, much shorter. Restaurants are special-purpose properties where real estate is sometimes intermingled with a highly speculative business. Moreover, restaurant properties... Read More