News
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Word on the Street: Future-proof office
April 20, 2022New terminology is added to the commercial real estate vernacular on a near-daily basis. At the NAIOP Maryland March Madness event, we asked several participants to provide their definition of the “future-proof office” concept. Here are their answers, with the actual definition below. “Many companies were caught flat-footed when…
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The Climate Solutions Now Act – setting some of the most aggressive greenhouse gas (GHG) reduction goals in the country – has passed the Maryland General Assembly. Now, the difficult, detailed work begins of figuring out how to implement it. The Climate Solutions Now Act (SB 528) requires the state…
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The continued softness of the downtown commercial office market, aging office stock, success of the hybrid and work-from-home models, and the critical need for additional multifamily housing are collectively driving the sustained conversion of office buildings into apartment communities. A high-profile example of this trend in Downtown Baltimore is the…
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By David McClatchy, MacKenzie Commercial Real Estate Services I have found that, in some cases, things are not always what they seem to be on the surface which, in the world of commercial real estate, often translates to an amazing opportunity. That situation perfectly describes a five-acre tract…
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After two years of shopping largely online, consumers’ renewed desire to visit brick and mortar stores, touch and feel products, and obtain immediate gratification has increased optimism among retail landlords, according to experts participating in a recent webinar sponsored by Placer.ai. To leverage this phenomenon, however, retailers will need to…
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Legal ramifications drive return-to-work decisions
March 9, 2022President Joe Biden recently implored all Americans to “get back to work,” but many companies are still treading lightly and moving at a cautious pace due to possible liability issues with tenants and employees. The challenges being faced, together with the strategies being used to navigate this rapidly changing situation,…
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COPT employs high-flying plan to complete renovation
March 9, 2022It was a 30-minute construction operation that took an entire year to plan. Corporate Office Properties Trust (COPT) had embarked on a routine mechanical upgrade — replacing an office building chiller plant that was nearing the end of its lifecycle. The hitch was the office building was 100 Light Street…
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Senate committee extends timeline for building decarbonization, orders studies of barriers and rate impacts
March 9, 2022A Maryland Senate committee has approved a scaled-back version of Senate Bill 528 that extends the first deadline in the timeline for decarbonization of existing buildings to 2035 and removes the requirement for all-electric new construction beginning in 2024. The Senate bill also requires three studies to advise the…
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Senate bill would rapidly end fossil-fuel use in buildings
February 23, 2022The Maryland Senate is moving legislation that mandates an abrupt end to fossil fuel use on a schedule that will present immense financial and logistical challenges for owners and occupants of commercial, industrial and multifamily real estate. NAIOP has consistently advocated for technically sound, cost-effective and orderly climate mitigation policies.
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CRE grew in 2021 despite office sector woes
February 23, 2022Despite all the economic turmoil in 2021, the commercial real estate sector grew and continued to be a major driver of the American economy. Direct expenditures in new CRE developments climbed from $201.4 billion in 2020 to $239.7 billion in 2021, according to the NAIOP Research report…