News Feeds (RSS) http://naiblackblog.com/?p=412 http://naiblackblog.com/2020/07/5-building-updates-for-offices/ Commercial Real Estate Property Management commercial real estate cre office office building real estate 5 Building Updates to Keep Your Office Space Attractive to Tenants Looking to up the prospect intrigue of your office space? In these times, it may be a good idea to upgrade your office building to make it the very best it can be. These are 5 physical building updates that can be made right now to appeal to tenants: Create Flexible Branding Areas Strategizing is [&#8230;] Fri, 31 Jul 2020 22:09:35 Z http://naiblackblog.com/2020/07/5-building-updates-for-offices/#respond NAIBlack-Blog <p>Looking to up the prospect intrigue of your office space?</p> <p>In these times, it may be a good idea to upgrade your office building to make it the very best it can be. These are 5 physical building updates that can be made right now to appeal to tenants:</p> <p><strong>Create Flexible Branding Areas</strong></p> <p>Strategizing is all about knowing your target audience.</p> <p>As company culture is top-of-mind for businesses right now, it may be wise to provide your tenants with the ability to proudly embrace their brand. Office tenants will likely want to express their corporate identity somewhere in their leased space, so consider adding an area to do so.</p> <p>Not only does this provide a perk that many competing office assets do not offer, but it also will help make your office feel more like a permanent home for their business.</p> <p>Consider setting aside a wall that can easily be repainted or refurbished where tenants can post their company logo in a large-scale format. Make sure to include this point in your market listings as a company culture bonus!</p> <p><strong>Privacy Pods</strong></p> <p>Even before the new social distancing concerns relating to the pandemic privacy pods were already a popular feature within the office space.</p> <p>In the contemporary lens, it helps support a safe and healthy work environment for team members and other tenants. However, they also come along with the added benefit of reducing noise and distractions in the workplace and providing a quiet space for team members who need to focus.</p> <p>These reasons and more are making privacy pods a highly coveted aspect of office assets, so consider investing in these for your space.</p> <p><strong>Health and Wellness Considerations</strong></p> <p>Tenants are looking for a healthy and positive space to house their business. Adding a touch of nature to your office space can breathe fresh life into even the most outdated buildings.</p> <p>Large windows, open-air, outside spaces, and natural lighting will provide the proper balance that tenants are looking for. Low-light indoor plants will elevate the overall design of the space.</p> <p>These upgrades are known to reduce stress and cultivate a happier and healthier workspace environment &#8211; something that tenants cannot resist.</p> <p><strong>Smart Technology</strong></p> <p>Smart Technology is a major avenue of competition for commercial office leasing.</p> <p>Upgrading your office space with some strong Smart Technology additions can significantly boost the property’s tenant appeal. Smart locks, security systems, temperature controls, screens, and speakers are all great places to shop around.</p> <p>Not only do these improve the tenant experience, but Smart Technology is known to significantly reduce utility usage which can save your tenant money on their monthly bills.&nbsp;</p> <p><strong>The Little Things Count</strong></p> <p>Not all office building upgrades need to be extreme. The little things count, too.</p> <p>Don’t underestimate the value of a fresh coat of paint, some new fixtures, and a beautiful landscaping job. Spend time fixing up the detailed elements of your property independent or in addition to the bigger projects. Office tenants care about the full picture, not just the wow factors.</p> <p>Get the most out of your office portfolio by enhancing your assets with these 5 tips and watch tenant interest soar.</p> http://naiblackblog.com/2020/07/5-building-updates-for-offices/feed/ 0 412 2020-07-31 22:09 +00:00 2020-07-31 17:09 -05:00 http://naiblackblog.com/?p=405 http://naiblackblog.com/2020/06/4-ways-cre-was-already-headed-online-prior-to-covid/ Commercial Real Estate commercial real estate coronavirus covid-19 online technology 4 Ways CRE Was Already Headed Online Prior to COVID Over the past few months, headlines everywhere have been filled with tips, tricks, and hacks to help make the shift to online easier for business of every sector. While for some, such as small businesses or service-based models, this level of tech-reliance came as a bit of a shock, many other industries were already heading [&#8230;] Thu, 25 Jun 2020 17:43:55 Z NAIBlack-Blog <p>Over the past few months, headlines everywhere have been filled with tips, tricks, and hacks to help make the shift to online easier for business of every sector. While for some, such as small businesses or service-based models, this level of tech-reliance came as a bit of a shock, many other industries were already heading in that direction.&nbsp;</p> <p>Commercial real estate is one of those. Yes, it’s true that the pandemic did speed things up immensely by encouraging even the slowest to accept the digital shift, but it wasn’t <em>really </em>out of the blue.&nbsp;</p> <p>This tech-conversion conversation has been dominating industry chatter for some time now. Simply type “CRE tech” into any search engine and see articles dated all the way back to 2017 that are discussing the need to embrace digital workflows.&nbsp;</p> <p>These are 4 ways that commercial real estate was already far along the path towards online integration, plus a look at where all predictions fell short.&nbsp;</p> <p><strong>A Need for Online Networking</strong></p> <p>Commercial real estate success is a result of being plugged into a solid network of contacts, leads, and industry partners.&nbsp;</p> <p>For years now, physical networking strategies needed to be supplemented with online outreach programs. This was to extend the conversation into the untapped potentials of social media, search engines, and websites. Digital databases have fueled CRE sales funnels and tech-powered CRM’s have been at the frontlines of networking.&nbsp;</p> <p><strong>Digital Marketing is a Must</strong></p> <p>Web-powered marketing platforms have been a must in commercial real estate for a long time running. Digital marketing has been a major aspect of the business as more tenants are hitting the web to find their perfect commercial spaces.&nbsp;</p> <p>Online listings have been a solid standard for CRE, long before COVID even existed.&nbsp;</p> <p><strong>Technology to Keep Business Flowing</strong></p> <p>Staying organized between in-person and online tasks isn’t easy, and that’s why <a href="https://www.cretech.com/cretech-blog/5-ways-tech-improves-the-cre-project-management-workflow/">CRE workflows turned to tech</a> long ago to stay organized. Whether it’s a project platform for your team, a winning lead generator, or client management program; many of the daily tasks had already been transitioned online.&nbsp;</p> <p><strong>Remote Work was Already Prominent&nbsp;</strong></p> <p>The <a href="https://www.fastcompany.com/90481356/were-in-the-midst-of-a-massive-work-from-home-experiment-what-if-it-works">teleworking population was growing</a> to unprecedented heights before the coronavirus. More and more people were choosing to ditch the office space altogether and take their workflows elsewhere.&nbsp;</p> <p>COVID certainly sped things up, but this was already well underway prior to 2020.&nbsp;</p> <p><strong>Understanding the Real Surprises</strong></p> <p>While the internal aspects of commercial real estate’s digi-conversion, the external pressures could never have been predicted.&nbsp;</p> <p>Even for the tech-savviest CRE pros, the biggest curveball is the fact that everyone is going digital &#8211; not just the commercial sphere. Because the industry’s tenants are also primarily online, it’s altering the needs of the business&#8217;s bottom line.&nbsp;</p> <p>Spatial requirements are changing within every sector, from retail to restaurants. Many office tenants are contemplating a full transition to web-powered business, leaving commercial spaces out of their equation. Warehouse needs are broader than ever, as these spaces need more space, technology, and parking accommodations to handle the increased responsibilities.&nbsp;</p> <p>It’s clear that the strong push for a tech-centric CRE business was coming, COVID or no COVID. But, the industry is still facing considerable challenges because of the <em>way </em>the transition happened.&nbsp;</p> 405 2020-06-25 17:43 +00:00 2020-06-25 12:43 -05:00 http://naiblackblog.com/?p=400 http://naiblackblog.com/2020/06/3-ways-vr-is-being-used-in-cre-construction/ Commercial Real Estate commercial real estate construction virtual reality VR 3 Ways VR is Being Used in CRE Construction Virtual reality is one of the most powerful and revolutionary technologies hitting commercial real estate right now.&#160; While already widely applicable to the residential side of things, this technology is quickly becoming more prevalent in the commercial arena. It’s catching the attention of investors, developers, and construction professionals across the globe &#8211; and for good [&#8230;] Fri, 05 Jun 2020 22:19:56 Z NAIBlack-Blog <p>Virtual reality is one of the most powerful and revolutionary technologies hitting commercial real estate right now.&nbsp;</p> <p>While already widely applicable to the residential side of things, this technology is quickly becoming more prevalent in the commercial arena. It’s catching the attention of investors, developers, and construction professionals across the globe &#8211; and for good reason.&nbsp;</p> <p>Virtual reality is expanding the possibilities of commercial building, opening up new doors and potentials by bridging the gap between brick-and-mortar and 3D digital technologies.&nbsp;</p> <p><strong>Today&#8217;s Virtual Reality is Easier, Faster, and Affordable</strong></p> <p>While VR has always been attractive to CRE construction pros, it wasn’t necessarily applicable to every bracket of the business. Virtual reality property simulations were expensive to create, difficult to navigate, and took a long time to develop.&nbsp;</p> <p>But, the technology has come a long way since then and is adjusting to these industry pain-points.&nbsp;</p> <p>Today’s VR is easy, quick, and affordable &#8211; making it more attractive than ever before. Construction professionals can create VR-generated counterparts for all of their projects, not just the multi-million dollar ones.&nbsp;</p> <p>This new industry standard is spreading like wildfire, and it’s establishing new creative ways to infuse VR in construction.</p> <p>Here are 3 ways that VR is being used to enhance CRE construction:</p> <p><strong>VR Mitigates Risks and Streamlines Development</strong></p> <p>When you’re able to truly ‘see’ the fully-built, 3D, isometric property; construction companies are able to avoid any potential issues before they actually become a problem.&nbsp;</p> <p>This is helping construction firms save time, money, and resources by overcoming errors in the digital sphere before they’re made in the physical building. It’s much easier to click a few buttons than to dismantle a physical structure for a do-over.&nbsp;</p> <p><strong>Providing Unprecedented Precision&nbsp;</strong></p> <p>As commercial projects get even more complex, visualization precision is a must &#8211; and VR delivers.&nbsp;</p> <p>Virtual reality is creating stunning digital simulations of properties, right down to the real-life surroundings and smallest details. This expands the building possibilities, boosts creativity, and provides a new aspect to marketing.&nbsp;</p> <p>Plus, it’s helping teams stay on top of long-winded development projects. It keeps the vision strong throughout the entire process.&nbsp;</p> <p><strong>Boosting Pre-Development Deals&nbsp;</strong></p> <p>Since VR enables people to digitally explore property plans, it’s fueling more pre-construction deals for CRE.&nbsp;</p> <p>VR models can be shown to potential clients, investors, and buyers who are more likely to seriously move forward with a deal since they can actually ‘see’ their future space. This enables larger-scale collaborations between tenants and CRE construction teams to happen in a way that’s never been done before.&nbsp;</p> <p><strong>Industry Concerns Regarding VR-Powered Construction</strong></p> <p>Alongside all of these benefits, there are quite a few drawbacks associated with construction’s integration of VR.&nbsp;</p> <p>First of all, VR is a complex technology, so it’s taking some time to become a solid part of commercial building. Slow adopters to the trend aren’t seeing the value of these highly-detailed virtual models which is stunting the capacity for VR to fully permeate the domestic market.</p> <p>Plus, there are certain privacy concerns. In the era of cyber-security threats, everyone is a tad skeptical about putting their plans on a web platform &#8211; especially when it needs to pass through the hands of VR site developers. These exchanges prevent CRE from exploring the possibilities that virtual reality has to offer.&nbsp;</p> <pre class="wp-block-verse"><em>Meanwhile, other countries are making the most of VR-construction collaborations - especially in Asia. In 2020, NREI reports that less than ⅓ of US construction companies are using VR. This can potentially cause the US market to fall behind.&nbsp;</em></pre> <p>But, the hope is still there, and VR will keep pressing on CRE until the value is simply undeniable.</p> 400 2020-06-05 22:19 +00:00 2020-06-05 17:19 -05:00 http://naiblackblog.com/?p=396 http://naiblackblog.com/2020/05/what-impact-will-covid-19-have-on-shared-offices-and-coworking/ Commercial Real Estate co-working commercial real estate coronavirus covid-19 office property management real estate shared space What Impact will COVID-19 Have on Shared Offices and CoWorking? For the past few years leading up to 2020, companies were focused on the social aspects of business. This was manifested into trending workspace designs that have reshaped the physical spaces that companies call home.&#160; Cutting-edge office developers have adopted stimulating atmospheres to get team members together, inspired, and collaborative. It led to a new [&#8230;] Tue, 19 May 2020 19:26:48 Z NAIBlack-Blog <p>For the past few years leading up to 2020, companies were focused on the social aspects of business. This was manifested into trending workspace designs that have reshaped the physical spaces that companies call home.&nbsp;</p> <p>Cutting-edge office developers have adopted stimulating atmospheres to get team members together, inspired, and collaborative. It led to a new industry-standard where the shared office template was established all over the world.&nbsp;</p> <p>While this year had some big plans laid out for highly-collaborative workspace designs, COVID-19 happened, and everything changed. After years of investing in office spaces that bring people together, the whole world is currently finding every possible way to widen the gap and social distance.&nbsp;</p> <p>Unfortunately, that ‘golden spot’ of shared offices that CRE had finally come upon needs to head back to the drawing board.&nbsp;</p> <p>Here’s what the post-COVID world means for co-working and shared office spaces.</p> <p><strong>Fluid Workflows Need More Structure</strong></p> <p>The days of hopping from one desk to another are probably long-gone post-COVID.&nbsp;</p> <p>One of the largest appeals to coworking, shared, and even open office spaces is the ability to step outside of the box. Team members don’t need to be tethered to their desks. They were able to find the perfect space for each task and switching seats was a regular thing.</p> <p>But, the post-COVID world will be viewing this approach as a risk for contagion. High-traffic areas like privacy pods, computer labs, and lounges won’t be nearly as attractive as they used to be.&nbsp;</p> <p>People will want to limit the exchange of contact, so we’ll be dealing with a solid push for solidarity and personal space.&nbsp;</p> <p><strong>Making Room for Remote Workers</strong></p> <p>While we’re all stuck at home right now, the WFH trend will fall away after COVID &#8211; but not completely.&nbsp;</p> <p>Remote working will be more widely accepted and exercised across the board, but people will still be eager to head back to the office once the situation subsides. This will be expressed in many different ways.&nbsp;</p> <p>Now that the entire world has seen how easy it is to make remote working a reality, companies will be more open to continuing this trend into the future. This means that work schedules will continually become more flexible and mobile as team members aren’t required to be in-office for every little task.&nbsp;</p> <p>Technology will play a big role in making this all work. Office spaces will be required to have powerful tech tools to fill in the links between the remote team members and those at the office.&nbsp;</p> <p><strong>Personal Offices Will Be in Hot Demand</strong></p> <p>All in all, expect to see a big spike in demand for personal office spaces.&nbsp;</p> <p>Concerns relating to highly-contagious, fairly mysterious, and generally frightening pathogens will take a big hit at people’s openness to adopt shared office spaces again. Companies will be looking to get back to basics, helping them mitigate the risks associated with large populations congregating in communal spaces.&nbsp;</p> <p>Across the board, experts are expecting to see a decrease in the traditional co-working space.&nbsp;</p> <p>Shared workspaces and co-working have some work to do before they’re ready to woo the post-COVID world.</p> 396 2020-05-19 19:26 +00:00 2020-05-19 14:26 -05:00 http://naiblackblog.com/?p=392 http://naiblackblog.com/2020/05/4-video-conferencing-apps-to-keep-business-flowing/ Uncategorized Business commercial real estate covid-19 video conferencing 4 Video Conferencing Apps to Keep Business Flowing With entire cities shutting down all over the world in response to the global crisis, that doesn’t mean that business can be put on pause. Industries are being forced to adapt to unprecedented circumstances such as quarantines, stay-at-home orders, and official government safety procedures. In the midst of it all, teleworking is our collective reality [&#8230;] Tue, 05 May 2020 20:10:58 Z NAIBlack-Blog <p>With entire cities shutting down all over the world in response to the global crisis, that doesn’t mean that business can be put on pause. Industries are being forced to adapt to unprecedented circumstances such as quarantines, stay-at-home orders, and official government safety procedures.</p> <p>In the midst of it all, teleworking is our collective reality as the world finds creative solutions to the COVID-19 pandemic. Technology is helping keep business strong and steady as the virus throws disruption after disruption our way. Teams still need to gather, discuss, meet, and keep businesses going against all odds.</p> <p>Video-conferencing is an easy and accessible answer to the needs of today’s professional scene. The web is buzzing with e-meetings and virtual collaborations, proving that this new module is catching on fast.</p> <p>With no definite end in sight, keep your business above water throughout the COVID-19 episode. These are the video conferencing apps that will keep us all up and running in the coming weeks &#8211; or even months.</p> <p><strong>GoToMeeting</strong></p> <p><a href="https://www.gotomeeting.com/">GoToMeeting</a> is one of the fastest, easiest, and best-equipped virtual meeting software out there. One of the strongest tools available for keeping organized is GoToMeeting’s session diagnostic reports that summarize all the content covered – meaning users don’t need to worry about transcribing the conversation and can keep the momentum strong.</p> <p>With new features such as cloud recordings, voice command, and other Smart integrations, GoToMeeting is constantly upping their own game and impressing users across the board.</p> <p><strong>Zoom</strong></p> <p>Screenshots of Zoom meetings are taking over social media as teams get together and face these tough times in unity, strength, and optimism.</p> <p><a href="https://zoom.us/">Zoom</a> is probably the most-used virtual conferencing tech provider right now, and it’s a result of its winning service platform. Schools and businesses are using Zoom’s large meeting capacity and reliable connectivity to conduct classes, meetings, and conferences.</p> <p>Their newly introduced enterprise-level plan can hold seamless meetings with up to 200 participants, making it a great choice for large gatherings, training sessions, and team meet-ups.</p> <p>With its abundant features, easy navigation, and great flexibility, Zoom is reasserting its value as a leader in video conferencing technology during the COVID-19 pandemic and beyond.</p> <p><strong>GoogleHangouts</strong></p> <p>While not as commercial-business savvy as some of the other video conferencing software, the video meeting feature of<a href="https://hangouts.google.com/webchat/start"> GoogleHangouts</a> is providing an easy, casual, and effective way for small businesses to communicate ‘face-to-face’ &#8211; or, more literally, screen-to-screen.</p> <p>GoogleHangouts is affordable and easily accessible for businesses already hooked into G-Suites. The subscription that accommodates their video conferencing feature starts at a mere $6 per month &#8211; which is an extremely low cost for the service’s value of keeping your team connected.</p> <p>If you’re looking for the same Google service but want to kick things up a notch, check out<a href="https://meet.google.com/"> GoogleMeet</a>, the version of GoogleHangouts that’s elevated for large scale business purposes.</p> <p><strong>Microsoft Teams</strong></p> <p>This Microsoft-based service is becoming a video-conferencing favorite with many businesses using this software to stay in touch with the whole team.<a href="https://products.office.com/en-us/microsoft-teams/online-meeting-solutions"> Microsoft Teams</a> is a useful and well-equipped program loaded with great features.</p> <p>The best part about using this conferencing tool is that it prioritizes security. This is imperative for sensitive businesses operating online during the era of cyber-security. Even with the product’s ability to host live events with up to 10,000 participants, there is no need to worry about security breaches.</p> <p>No matter how long the COVID-19 pandemic rages on for, video conferencing is our best defense against falters in business. Keep the momentum strong with digital tools until your team can finally meet in person again, closer and stronger than ever before.</p> 392 2020-05-05 20:10 +00:00 2020-05-05 15:10 -05:00 http://naiblackblog.com/?p=386 http://naiblackblog.com/2020/04/property-managers-how-to-handle-the-influx-of-package-deliveries/ Property Management Apartments coronavirus e-commerce multifamily property management real estate Property Managers: How to Handle the Influx of Package Deliveries Welcome to the age of e-commerce. The contemporary digitized shopping module is impacting commercial real estate in more areas than just retail and industrial &#8211; it&#8217;s also having strong impacts on multi-family. Multi-family tenants rely on massive online realtors, such as Amazon, meaning more packages are coming through the door &#8211; and they all need [&#8230;] Fri, 03 Apr 2020 17:14:08 Z NAIBlack-Blog <p>Welcome to the age of e-commerce. The contemporary digitized shopping module is impacting commercial real estate in more areas than just retail and industrial &#8211; it&#8217;s also having strong impacts on multi-family. </p> <p>Multi-family tenants rely on massive online realtors, such as Amazon, meaning more packages are coming through the door &#8211; and they all need to be processed through the building&#8217;s centralized mail circuit. </p> <p>A few years ago, this wasn&#8217;t much of a stressor for management. However, the times have certainly changed and the sheer number of online orders isn&#8217;t what it used to be. </p> <p>According to data from E-Marketer, by 2023 the global e-commerce industry is anticipated to exceed $6.5 billion. This change has happened so quickly it&#8217;s left multi-family managers struggling to keep up. </p> <p>Multi-family property managers are facing an unprecedented volume of package deliveries where both the frequency of deliveries and the number of boxes have been exponentially increased. The heat is on &#8211; and, with e-commerce on the rise, it&#8217;s only expected to intensify. </p> <p>It&#8217;s time to get the situation under control before it gets out of hand. Use these 4 tips to stay organized. </p> <p><strong>Let Tech Lend a Hand</strong></p> <p>At this point, it&#8217;s a good time to invest in technologies. Technology is playing a pivotal role in supporting today&#8217;s quota of package deliveries. </p> <p>There are tons of ways tech can be weaved into the package delivery process &#8211; be it at the front door for mailmen, through a community app that alerts tenants to their delivery, or a digitally delivered safe code key that needs to be shown to retrieve a package. </p> <p>Don&#8217;t get overwhelmed with the possibilities for tech integration. The options are nearly endless, but focus on what matters most for your community needs. Property managers should take a deeper look at their specific issues and employ tech to their primary pain points. </p> <p><strong>Consider Expanding the Mail Room</strong></p> <p>If your property&#8217;s mail room is already feeling cramped, it may be time to invest in a renovation. Expanding the mail room is a must in order to accommodate packages &#8211; which are increasing in both number and size. </p> <p><strong>Hire More On-Site Team Members </strong></p> <p>At this point, the package delivery system has gotten so intense that it may be time to start growing your team. </p> <p>Increasing the number of people on-site can help alleviate the pressures of accommodating for the frequent deliveries happening daily. In fact, some property managers even find it necessary to create a position specifically to handle the influx of e-commerce packages. </p> <p><strong>Delivery Lockers Assure Safety and Security </strong></p> <p>No property management team wants to incur the wrath of a tenant who can&#8217;t locate their package. Mail room discrepancies are becoming a big issue for management teams that are struggling to mitigate the organization and security issues that accompany e-commerce deliveries. </p> <p>In order to avoid these issues, delivery lockers are helping keep packages safe and secure. These unit-specific lockers are a safe house for e-commerce orders until their owners can come down and pick them up. This lock-and-key option is superior to leaving the package sitting out in the open. </p> <p>These 4 tips are set to help streamline the added load of package deliveries to multi-family properties &#8211; mitigating the stress from the management. </p> 386 2020-04-03 17:14 +00:00 2020-04-03 12:14 -05:00 http://naiblackblog.com/?p=381 http://naiblackblog.com/2020/03/5-ways-to-become-a-better-commercial-real-estate-landlord/ Property Management commercial real estate landlord property management real estate 5 Ways to Become a Better Commercial Real Estate Landlord These days, being a commercial real estate landlord is tough. As business gets more diverse, it’s not easy to upkeep, manage and overlook commercial properties and their tenants. Whether you own a multifamily, office, or retail property, perfecting the role as a landlord can elevate your asset to a whole new level. Fortunately, there are [&#8230;] Wed, 25 Mar 2020 20:09:36 Z NAIBlack-Blog <p>These days, being a commercial real estate landlord is tough. As business gets more diverse, it’s not easy to upkeep, manage and overlook commercial properties and their tenants. Whether you own a multifamily, office, or retail property, perfecting the role as a landlord can elevate your asset to a whole new level.</p> <p>Fortunately, there are strategies that can help overcome the industry’s prominent pain points and boost the CRE landlord workflows. </p> <p>If you’re ready to improve and upgrade your commercial landlord skills, check out these 5 winning tips:</p> <p><strong>Get Tech Savvy </strong></p> <p>Technology is here, and at this point, there’s really no way around it. </p> <p>Commercial landlords need to embrace the latest cutting-edge technologies that are dominating the field and reshaping the industry as a whole. Not only will it make the day-to-day tasks easier, but it will also appeal to contemporary tenants who expect tech to be a part of their landlord’s process. </p> <p>Don’t lag behind &#8211; fuel your commercial property with the tools necessary to succeed in today’s competitive marketplace. Smart technologies, IoT and data analysis servers are all great ways to bring your landlord workflow into the present. </p> <p><strong> Check-In With Tenants</strong></p> <p>Communication is key. Today’s tenants want to feel understood, respected, and most of all &#8211; heard. Landlords can benefit greatly by opening up a channel of communication between the tenants and property management. </p> <p>Consider sending a bi-weekly or monthly email to touch base with your tenants, cover any pressing topics, and ensure that everything is going well. Remember, you don’t want to be overwhelming &#8211; but you don’t want to seem absent, either. </p> <p><strong>Consider Going Paperless</strong></p> <p>Making the decision to go paperless can save landlords time, money, and energy &#8211; especially when it comes to commercial properties. Going paperless is a great way to stay organized and consolidate all of the piles of paper into one neat and easy-to-access gateway. Plus, you’ll be doing something positive for the environment by cutting down on consuming paper products &#8211; <a href="https://www.theworldcounts.com/stories/Paper-Waste-Facts">the majority of which gets wasted the very same day. </a></p> <p><strong>Create a Community Around the Property </strong></p> <p>In today’s world, it’s all about community. </p> <p>Commercial landlords can go beyond a mere property-based module by creating a community around their assets. Since many commercial properties, such as multifamily or office, are home to multiple tenants; everyone can benefit from cultivating feelings of togetherness and solidarity. </p> <p>Happy tenants usually mean a happy landlord, so it never hurts to go out of your way to improve the tenant experience. Establish a community culture around your properties to boost tenant enthusiasm and engagement.&nbsp; </p> <p><strong>Keep it Simple </strong></p> <p>Sometimes, it’s the simple things that yield the best results. When it comes to being a commercial landlord, don’t over-complicate things. </p> <p>At the end of the day, the most important point is to ensure that the property is running smoothly, the tenants are satisfied, and you’re not overwhelmed by the workload. In today’s world, commercial property owners can greatly benefit from being flexible, patient, and understanding. Employing these strategies will help commercial landlords remain current amidst the changing tides of contemporary business. </p> 381 2020-03-25 20:09 +00:00 2020-03-25 15:09 -05:00 http://naiblackblog.com/?p=375 http://naiblackblog.com/2020/03/how-malls-will-attract-consumers-in-2020/ Commercial Real Estate How Malls Will Attract Consumers in 2020 Malls have had a tough run for the past few years. Once the wave of mass store closures that caused the &#8216;retail apocalypse&#8217; scare hit, shopping malls took the brunt of it. In the blink of an eye, mall assets became empty and vacancy rates were on the rise. Many of us have been thinking [&#8230;] Sat, 07 Mar 2020 00:44:35 Z NAIBlack-Blog <p>Malls have had a tough run for the past few years. Once the wave of mass store closures that caused the &#8216;retail apocalypse&#8217; scare hit, shopping malls took the brunt of it. </p> <p>In the blink of an eye, mall assets became empty and vacancy rates were on the rise. Many of us have been thinking that the shopping mall model was &#8216;dead&#8217; and didn&#8217;t have much hope to be revived. </p> <p>However, in the latter half of 2019 things began to change. Brands announced their return to the mall scene after re-configuring their strategies to accommodate the new era of retail. But what does this mean for malls? </p> <p>The biggest question on everyone&#8217;s mind is about the value proposition that malls have to offer to contemporary shoppers. What exactly will draw consumers into shopping malls this year? Whatever it is, it would have to be incredibly appealing &#8211; and so far, the developments are gearing up to be just that. </p> <p>Here are 6 trending things that will be driving shoppers back into malls in 2020: </p> <p><strong>Brand-Specific Storefronts</strong></p> <p>Successful brands are evacuating big department stores and taking their own stand as small, independent storefronts. </p> <p>Retail companies are using these smaller locations to boost brand identity and establish a greater culture around their services. It&#8217;s chic, exclusive, and very attractive. The store&#8217;s aesthetics are concise, harmonious and sleek &#8211; which is everything that today&#8217;s shoppers love. </p> <p>These smaller spaces also give brands the chance to boost consumer engagements and interact with shoppers on a one-on-one level. It&#8217;s providing a customized retail experience that is all the rage in today&#8217;s market. </p> <p><strong>Pop-Up Events</strong></p> <p>Specialty events will be another big perk for shopping malls. Pop-up shops and events will be a main strategy to attract people back to malls. Whether it&#8217;s a brand-specific event or a mall-wide occasion, these pop-ups can be broadcasted across social media with enticing graphics that are sure to spark the interest of shoppers. </p> <p><strong>BOPIS Options</strong></p> <p>Online shopping will be collaborating with physical retail through BOPIS &#8211; buy online pickup in store. </p> <p>The option to get online purchases instantly via a pick-up counter in and brick-and-mortar location is appealing to shoppers. And, once they are in the mall, it&#8217;s likely that they will make additional purchases. It&#8217;s a great tactic to drive traffic into shopping centers. </p> <p><strong>Experiences Galore </strong></p> <p>There&#8217;s one thing that can never be delivered through the online-shopping module, and that&#8217;s an in-person experience. Malls are adopting experiential amenities anywhere they can. This trend is all about harnessing the tactile, social, and leisurely aspects of shopping. </p> <p><strong>Tech Integrations </strong></p> <p>Technology will also be playing a big role in boosting malls this year and beyond. </p> <p>AI and automation can be applied in many different ways to improve the shopping experience. Plus, technology is cutting-edge and cool. Investing in tech tools, such as increased security or augmented-reality dressing rooms, will be key additions to today&#8217;s malls. </p> <p><strong>Going Beyond Retail </strong></p> <p>Finally, malls will be extending far beyond mere retail in 2020. Expect to see gaming centers, spas, fitness boutiques, entertainment options, high-class dining, and other attractions popping up within malls. These locations have more to offer than just shopping &#8211; making it fun for everyone. </p> <p>These 6 trends will be reshaping malls in 2020 and beyond. </p> 375 2020-03-07 00:44 +00:00 2020-03-06 18:44 -06:00 http://naiblackblog.com/?p=371 http://naiblackblog.com/2020/02/are-skilled-labor-shortages-killing-multifamily-deals/ Commercial Real Estate Are Skilled Labor Shortages Killing Multifamily Deals? Multifamily has been a popular commercial real estate sector for the past few years. Investor interest was high, new developments were in the works in major cities throughout the country, and vacancy rates were dwindling. However, this positive outlook is starting to experience opposite pressures. The rising construction costs that plagued the industry in 2019 [&#8230;] Tue, 04 Feb 2020 23:06:46 Z NAIBlack-Blog <p>Multifamily has been a popular commercial real estate sector for the past few years. Investor interest was high, new developments were in the works in major cities throughout the country, and vacancy rates were dwindling. </p> <p>However, this positive outlook is starting to experience opposite pressures. The rising construction costs that plagued the industry in 2019 are still making it difficult and expensive to build new multifamily developments. </p> <p>But, it&#8217;s not the only high building costs that are inhibiting new multifamily projects. It&#8217;s also a skilled labor shortage within the construction industry. Developers and investors are having a difficult time finding professional, experienced, and talented building teams to construct their new projects. </p> <p>So what does this mean for the CRE business? Here&#8217;s what commercial real estate investors, developers and property owners should be watching for in the multifamily arena: </p> <p><strong>Skilled Laborers are Far and Few in Between</strong></p> <p>The construction industry&#8217;s skilled labor shortage is beginning to cause issues for commercial real estate&#8217;s multifamily arena. But, it begs us all to question what exactly is causing the shortage. </p> <p>According to industry experts, the current labor shortage is being caused by a large wave of retirements within the building industry. Many skilled construction professionals are coming of age and making their exit &#8211; and it&#8217;s all happening at a time when they&#8217;re needed more than ever. </p> <p>Another reason why skilled labor is hard to come by these days is the large number of laborers who took their leave during the recession. When things got difficult, many skilled laborers chose not to stick around. This decision still stands as a great loss for construction as a whole. </p> <p>While retirement and other fluctuations are normal for every business, this current phase is not being balanced out by an equal number of new skilled laborers hitting the scene. The volume of skilled laborers exiting the construction industry is far greater than the addition of new ones making their entrance. </p> <p>This industry-wide uneven progression is causing a large-scale shortage of skilled labor is making it difficult to get new multifamily projects to move forward into the building and development stages. </p> <p>Attracting new laborers is imperative for both the construction and multifamily industries in 2020. </p> <p><strong>Small Markets Take the Biggest Hit </strong></p> <p>The widespread labor shortages are most heavily impacting smaller markets around the country. When faced with sky-rocketing building costs and skilled labor shortages, small local economies are often unable to foot the bill for new multifamily developments. </p> <p>Multifamily developments set in suburban locations are already at a disadvantage as the local labor pools are smaller than in big metros. The smaller the population of laborers, the more the shortage is making an impact on the local scene&#8217;s multifamily markets. </p> <p><strong>Don&#8217;t Lose Hope: Experts Say a Turnaround is Ahead</strong></p> <p>While the outlook may seem bleak, commercial real estate experts are anticipating things to turn around in 2020. The shortage of skilled labor is causing a need in the construction industry, which means lots of opportunities for business. </p> <p>It won&#8217;t be long for more skilled labor companies to hit the scene and take advantage of the unfulfilled market. </p> <p>Make sure to consider this 2020 CRE trend in your multifamily deals and strategies. </p> 371 2020-02-04 23:06 +00:00 2020-02-04 17:06 -06:00 http://naiblackblog.com/?p=362 http://naiblackblog.com/2020/01/heres-how-the-smart-city-has-changed-in-the-last-year/ Commercial Real Estate 5G commercial real estate IoT real estate smart sustainability technology Here’s How the Smart City Has Changed in the Last Year The Smart revolution is upon us. Smart phones, Smart devices, Smart houses, Smart buildings; the list continues. We&#8217;re in a seemingly never-ending progression towards all things Smart &#8211; and the development reaches its peak capacity with Smart Cities. These tech-powered metropolitan locations represent the height of contemporary technologies. All things digital come together to create [&#8230;] Thu, 23 Jan 2020 00:22:33 Z NAIBlack-Blog <p>The Smart revolution is upon us. Smart phones, Smart devices, Smart houses, Smart buildings; the list continues. We&#8217;re in a seemingly never-ending progression towards all things Smart &#8211; and the development reaches its peak capacity with Smart Cities. </p> <p>These tech-powered metropolitan locations represent the height of contemporary technologies. All things digital come together to create a seamless net of information, innovation, and evolution. </p> <p>In the last year alone, Smart cities have undergone progress at an inconceivable rate. What was once impossible is now the norm in the globe&#8217;s biggest Smart cities such as New York City, Paris, Tokyo, Reykjavik, Seoul, and London. </p> <p>Sit back, relax, and get caught up. Here&#8217;s how the Smart City module has changed during 2019: </p> <p><strong>Advanced 5G Connectivity </strong></p> <p>5G is here. Although we&#8217;re already pretty familiar with this cool new tool, it&#8217;s important to remember that 5G wasn&#8217;t around a year ago. </p> <p>The introduction to 5G made a massive impact on Smart cities because they are some of the only locations where this new capacity can truly show off all that it can do. While 5G is everywhere, it isn&#8217;t able to run at full-throttle in rural areas as it does in big metros &#8211; and of course, Smart cities. </p> <p>In order for 5G to support the increased data transmissions and Cloud-powered storage capabilities, there needs to be a large-scale tech infrastructure in place. WiFi emitters, satellites, sensors, cameras and tons of wiring are all needed to fuel 5G&#8217;s best performance. </p> <p>Fortunately, all of this can be found in Smart cities. 5G is able to deliver all that it promises in the world&#8217;s most advanced tech hubs. </p> <p><strong>Hello, Internet of Things</strong></p> <p>Along with 5G came the IoT. </p> <p>The Internet of Things is an extensive web of digital tools that use UIDs, or unique identifiers, to transmit information to one main network conglomerate. The IoT enables instantaneous data transfers that are completely hands-free &#8211; meaning that people have (almost) nothing to do with it. </p> <p>The IoT&#8217;s advanced capacity has given rise to truly Smart buildings and cities. </p> <p><strong>Eco-Friendly Everything</strong></p> <p>Smart cities aren&#8217;t just focused on progress. They strive for sustainability, too. Contemporary Smart cities have adopted an eco-friendly approach in 2019 with great results. </p> <p>The data, technologies, and Smart tools that make up Smart cities all work to reduce waste, lower carbon emissions and cut back on pollution. Thanks to advanced sensors and data analysis systems, buildings are optimizing the way they use their resources. </p> <p>The interconnected design of Smart cities enables them to overcome environmental challenges that plague other cities around the world. </p> <p>Smart cities are the apex of the global race towards all things Smart, and the marathon continues into 2020 and beyond. Keep your eyes on the evolving Smart cities &#8211; you won&#8217;t want to miss this. </p> 362 2020-01-23 00:22 +00:00 2020-01-22 18:22 -06:00