This month’s Ten on One episode is packed with relevant information on what is currently happening with Commercial Real Estate development. Featuring Molly Ryan Carson, Senior Vice President of Real Estate Development and Market Leader for Ryan Co’s Southwest Region, we dive into the key trends and developments we are seeing right now.
Here are just a few of the learnings I came away with:
1. The prom queen for 2022 development was and still is industrial and the 2023 projected hot product will be speculative industrial and Build-to-Suit manufacturing.
2.The biggest headwinds facing CRE development
–Rising interest rates (over 5% in one year).
–People coming back to work.
–Labor shortage—simply can’t find enough people to wor
–Supply chain dependability remains a huge issue.
3. My biggest surprise comment from Molly: Construction companies are being forced to order equipment early, with some products taking up to 50 weeks to deliver!
It is worth your 10 minutes watching Molly as she gives us a high-level summary.
Call/email me with any thoughts/questions.
Craig
602.954.3762
ccoppola@leearizona.com
