In today’s commercial real estate news, ‘wellness real estate,’ new trends for retail properties and the reason for increased real estate development in Midwest cities.
An introduction to a term investors and developers may be hearing more over the coming years, wellness real estate. Design firm Delos and real-estate firm Property Markets Group (PMG) have partnered with spiritual guru Deepak Chopra to design a 68-unit luxury tower in Miami Beach. The buildings promise to give tenants a sense of physical and mental well-being. A tall order for commercial real estate.
There’s a new recipe to retail success: immediacy, discovery, bargains and speedy service. E-commerce has changed the sector forever, and old department stores are struggling to keep up with the new way of doing things. Customers can purchase anything they want online now. To survive, physical stores must become experiences.
High-tech millennials looking for high-tech jobs are driving construction in major Midwest cities. Corporate office buildings are a conduit for investments, as well as the multifamily properties needed to house the new, young city dwellers.