NYC Investor Migrating To Atlanta Apartments To Avoid ‘Crazy Regulations’

The largest private occupier of U.S. industrial real estate has begun to shift its strategy away from leasing warehouses, a decision that could upend what has become the preferred asset class for commercial real estate investors over the last 18 months.

Over the course of the last year, Amazon has gone from being indifferent on whether it leases or owns the millions of square feet that make up its industrial empire to preferring to buy and develop its own facilities, several industry sources with knowledge of Amazon’s activity tell Bisnow.  

Amazon has changed its approach to the industrial real estate market and its relationship with the developers who typically build and lease to the company, sources said. In some cases, it has backed out of lease discussions in order to pursue acquisitions, one source said. Others said the trillion-dollar company…

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Labs and life sciences represent a small niche in the larger commercial real estate world: JLL tracks 165M SF of commercial, investor-owned lab space across the country, compared to 4.7B SF of offices and 14.2B SF of industrial space. 

But conversations with sector analysts and researchers suggest that despite the relatively small footprint, tracking the burgeoning life sciences sector can be tricky. That lack of transparency has meant significant advantages for the select few companies that dominate the space. 

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With vaccines widely available, cities largely back up and running and office buildings open for business, people are starting to question what will bring workers back to their desks in big numbers — aside from forcing them.

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Fortunes for the best office real estate and the rest are quickly diverging. Once upon a time, that would have offered a tried-and-tested play for investors: Buy tired assets, bring them up to scratch and sell them on again. But today, it’s not so simple. The supply chain crisis coupled with the climate emergency are having an impact on the process of making offices fit for the future. 

“Prime will still do well, but everything else will suffer,” Hines Senior Managing Director and Head of UK Ross Blair told attendees at Bisnow’s London State of the Market event, held at the Oval cricket ground in Vauxhall. “Build costs are really hard to control right now. If you want to refurbish or build better offices, that makes it very difficult.”

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