A recent real estate trend has emerged as e-commerce businesses are on the rise and retail or office spaces close their doors. It has become all about converting retail or office space into high-demand industrial space.
Times are changing. We live in a country where you can break your favorite earphones on a Tuesday afternoon and have a replacement on your doorstep Wednesday, without once leaving your couch. What a time to be alive! But what does the increased convenience mean for retail space and the commercial real estate industry as a whole?
Article by Jay Lovero, Associate Broker in Voit’s Irvine office The Rise of the Industrial Property As the Industrial Revolution swept the globe in the late 18th and early 19th centuries, many companies left the age of the handmade and converted their manufacturing processes. As it tends to do, architecture made a swift shift to … Continued
Article by CJ Collins, Senior Associate in Voit’s Los Angeles office The year 2017 came with great change, and continued growth, for the commercial real estate industry. But as we dive into 2018, we will begin to see some changing market conditions and how they will affect the industrial real estate market in the new … Continued
Article by Sean Sullivan, Associate in Voit’s Ontario office It’s pretty incredible how the legalization of either recreational or medical use of marijuana in the United States has changed the legal and commercial landscape of the green-producing plant. And when we say green, we mean the economic benefits it has generated for this country. But … Continued
Whether it’s based on mere convenience or a digital discount code to use a checkout, all of us have shopped online one time or another. It’s no surprise to hear the birth of internet shopping has radically shifted consumer behavior. So how will the increasing need for warehouses & distribution centers affect both brick and mortar retail space as well as the industrial sector?
It’s likely that in your professional and personal circles you’ve been hearing more and more stories about people ditching their commutes to work at home in their pajamas. Over the past decade an influx of companies have embraced the freedom that technology offers their workers, and their own options for saving on office space expenses … Continued
Article by Spencer Thomas, Associate The traditional corporate office has evolved significantly over the years. They started out with segmented office spaces, often with doors, to give each individual worker the privacy they need. Decades later, in an effort to save space and reduce expenses, the cubicle was introduced. Privacy was broken down to roughly … Continued
Article by Carter Harrington, Vice President Over the past several decades we’ve seen a huge number of giant corporations moving large operations out of expensive, urban cities to smaller, less expensive and more manageable suburban areas. This action solved a number of problems for these corporations. First, they could cut down the commute for many … Continued
Article by Spencer Kerrigan, Senior Associate, San Diego As we enter the holiday spending season, San Diego’s retail market remains strong. Westfield’s UTC mall is finishing up its first round of expansion and renovation. In October, Nordstrom is set to debut its new 145,000 square foot store at UTC, which is 15,000 square feet larger … Continued