Event Recap: NAIOP CRE.Converge
Bohler Engineering leaders from our Pennsylvania, Mid-Atlantic and North Carolina offices attended NAIOP’s CRE.Converge earlier this week in Washington, DC. With over 1,500 industry professionals in attendance, the conference was both enlightening and educational and covered several national market trends. The following are a few key points our team took away from the event:
Structural forces are driving the surge in multifamily demand.
Multifamily demand is outpacing previous expectations. Since 2010, the average yearly multifamily absorption rate sits at 260,000 units, a significant increase from 189,000 units during the 1990’s and 144,000 units in the early 2000’s. Major drivers of this increase in demand include changing household compositions and shifts in generational demographics.
Ports are impacting distribution.
• Both inland ports and seaports are playing a critical role in the United States supply chain, specifically with the evolving changes in e-commerce and the retail landscape.
• Ports on the West Coast are aligned and designed to handle the ever-increasing amount of container ship imports and exports, whereas the East Coast will require significant infrastructure changes to support the foreseen increase.
• With increasing global trade, transportation costs will drive future warehouse and distribution development. To keep those costs low, it’s important to align transportation requirements with real estate planning as early in the process as possible.
Interested in connecting further with our team? Reach out to one of our local offices.