Here’s some recent news from the commercial real estate and construction industries:
Industrial property is booming in the Southeast, especially in Nashville
According to the Tennessean, “The South is experiencing the largest industrial investment of all U.S. regions, and Nashville is one of its fastest-growing markets.” This is in part thanks to the growth of Amazon’s presence here as well the growing footprint of other large retailers like Apple and Dell. It’s also indicative of Nashville’s overall economic strength.
Move over Amazon
Amazon isn’t the only tech giant pervading Nashville. Software and IT company Oracle is throwing its hat in the ring to make Nashville it’s next hub. It’s estimated that the company could bring with it at least 1,000 jobs with a potential for many more if all goes well.
Nashville’s newest nickname: A “Mini Megacity”
Construction Dive calls Nashville one of the “mini megacities” to watch, along with Omaha, Neb., Rochester, Minn. and Cedar Rapids, Iowa. This classification is given to the “most up-and-coming U.S. markets for commercial construction, based on input from Dodge Data & Analytics, industry experts and association leaders.”
CRE investing is still hot
Kiplinger would like to remind us that “It’s not too late” to invest in commercial real estate, as we are now in the 10th year of America’s longest-running economic expansion in history. Despite CRE’s constant cycling with the economic tides, they say it’s still a good bet.
2020 vision for the CRE industry this year
Avision Young released its 2020 commercial real estate forecast report outlining the top trends to watch, including the rise of flex spaces, deglobalization, a “rebirth” for retail and even more technology integration.
HQ2 construction is a go
Amazon has officially started demolition and broken ground at the location of its new HQ2 in Arlington, Va. Called Metropolitan Park, the development is targeted to open in early 2023.
Robots are joining the ranks of construction workers
A Massachusetts construction company is teaming up with a robot software company to develop an autonomous laser scanning and layout planning robot, and they are testing it as we speak. It’s another one of the many examples of efforts to integrate automation into industries across the board.