The NAIOP Market Monitor provides insights into shifting market conditions and capital flows across the United States. The report’s findings can help investors and developers identify regional trends and markets that align with their risk and return objectives or warrant further examination. The 2024 NAIOP Market Monitor indicates a continuation of several post-pandemic trends in office and industrial real estate markets.

With the U.S. economy expected to continue to grow slowly, the authors estimate that quarterly net absorption of industrial space will average 14.0 million square feet per quarter over the next two years, or 62.8 and 49.1 million square feet in 2024 and 2025, respectively.

For the 2024 edition of Commercial Real Estate Terms and Definitions, the author reviewed secondary sources and sought input from members of the national research directors group as well as other CRE practitioners to identify terms that needed to be added or amended to match current use.

The NAIOP Research Foundation commissioned this report to examine the trends behind reshoring and nearshoring and to evaluate how related investments in manufacturing are affecting North American markets for industrial real estate and its two largest components: warehousing/logistics space and manufacturing space.

Given current economic conditions and recent demand trends, the authors estimate that quarterly net absorption of industrial space will average 52.6 million square feet over the next two years. Read the full report from the NAIOP Research Foundation.

The NAIOP Research Foundation commissioned this report to offer design recommendations that improve occupant well-being. The authors conducted secondary research, observed conditions in existing distribution centers and interviewed occupants to collect information on key wellness concerns. They then drew from these findings to design a prototype distribution center with elements and features that contribute to a healthier and safer work environment.

Despite rising interest rates and growth in the supply of new space entering the market, the outlook for industrial real estate remains bright as supply chain conditions steadily improve. Low vacancy rates will continue to support growth in rents and property values. Read the full report from the NAIOP Research Foundation.

The NAIOP Research Foundation commissioned this report to examine three trends related to this convergence: the conversion of shopping centers to distribution centers, adding distribution uses to existing retail buildings, and the development of mixed-use properties that include both distribution and retail.

This research brief, authored by Avison Young, reviews historical trends in port activity, local logistics employment, and vacancies, rents and absorption rates in adjacent industrial markets. Building on observations from the historical data, a regression analysis of the relationship between changes in port activity, truck traffic and industrial space absorption demonstrates that changes in import volume have a substantial effect on occupancy in port markets.

The forecast authors, Drs. Hany Guirguis and Michael Seiler, expect the still-hot industrial market to cool, and predict that the net absorption rate will continue to decline until it returns to the pre-pandemic trend. Read the full report from the NAIOP Research Foundation.

This research brief draws from a survey of NAIOP members and interviews with developers in tertiary markets such as Western Michigan and Southwest Missouri to examine these differences and their implications for developers and investors.

A new NAIOP Research Foundation report by Maria Sicola, Charles Warren, Ph.D., and Megan Weiner builds on last year\u0026rsquo;s report on market tier and ranking systems by describing a two-dimensional approach to evaluating and comparing commercial real estate markets. The report examines 15 years of market data to test multiple two-dimensional models for evaluating the 50 largest industrial and office markets in the United States.

The NAIOP Research Foundation commissioned this report to provide the real estate development community with insight into current and future trends in building and logistics technologies and their implications for industrial real estate. Steve Weikal and James Robert Scott, researchers at the MIT Real Estate Innovation Lab, interviewed professionals specializing in industrial building design and automated systems to identify emerging trends that will be of interest to industrial developers, building owners and tenants.

This research brief draws from interviews with brokers and building owners, news sources, NAIOP webinars, and NAIOP survey data to identify best practices for triaging office and industrial tenant requests, offering reasonable accommodations to those tenants who need short-term assistance, and responding to uncooperative tenants. The brief also examines how owners are adapting the ways they show and lease space to new tenant preferences and safety expectations.

This brief evaluates the merits of frequently discussed capital investments and their potential to create durable competitive advantages. It draws from an analysis of recent coverage in commercial real estate trade publications, as well as conversations with seven industry practitioners that took place in June 2020.

Dividing and grouping the major metropolitan regions of the United States into ranked groups or “tiers” is a frequently used method to evaluate, prioritize and rank markets for investment. This project provides an understanding of the origins, methodologies and uses of market tier models.

The NAIOP Research Foundation commissioned this report to explore some of the contributing factors to the workforce shortage and how the construction and logistics industries can improve worker recruitment, training, productivity and retention.

Are fulfillment centers distinct real estate products? Some in the industry believe they are; others believe they are not. According to the results of this analysis, fulfillment centers are not significantly different from nor significantly more valuable than other types of warehouse and distribution facilities.

As e-commerce sales continue their robust growth, manufacturers, transportation providers, distribution and fulfillment center operators and retailers all are being pressured to modify the retail logistics chain.

A study by the NAIOP Research Foundation concludes that the reshoring trend of manufacturing industries to the United States yields stabilization of jobs, but not net growth. Some industries will add jobs as others shed them, resulting in no change to the total number of manufacturing jobs but halting a decades-long trend of losing more jobs than added.

This whitepaper addresses trends and strategies needed and how the retail experience will change over the next five years.

Rising fuel costs have caused freight transportation to become the largest, most volatile cost component of companies' supply chain/logistics operation, accounting for about 63 percent of total U.S. logistics costs and 6 percent of GDP. With companies under mounting pressure to contain or offset the increases in freight transportation costs, supply chain executives have been tasked with figuring out how to squeeze more capacity and efficiency out of the existing systems.

This research found that "green" warehouses in politically conservative areas rent at a significant discount relatively to their non-certified counterparts, while similar properties in politically liberal areas rent at a significant premium.

This research project identified the logistics trends and specific industries that will drive warehouse and distribution growth and demand for space over the next decade (2008-2018). Research is based on employee ratios, employment reports, and logistics building inventory.

This white paper helps owners/developers make a decision about which (if any) energy-harvesting devices to install on their properties. Commercial real estate property owners will find a wealth of information on installations, maintenance, reliability and financial returns.