Midwest Update: 18-Hour Cities and Top CRE News

Midwest Update: 18-Hour Cities and Top CRE News

February 2016

From continued optimism regarding 18-hour cities to an app that bills itself as real estate’s answer to online dating, here’s a quick look at some of the top CRE news from this week:

  • Movement into 18-Hour Cities — Say goodbye to the downtown that’s more like a ghost town after 5 p.m. Well, maybe. The concept of 18-hour cities is going to be popular in 2016, with the demand for urban living driving a spike in retail, dining, entertainment and housing opportunities. (GlobeSt)
Top CRE news

Photo via NREI Online.

  • Suburban Pricing on the Rise — Want to invest in the downtown area of a top suburb? You’re probably going to pay for it. Investors are paying higher-than-average prices for the best suburban properties, recognizing that proximity to jobs, amenities and transit make them attractive options. Millennials and older baby boomers are responsible for driving the trend. (NREI Online)
  • Investment Outlook — Is there such a thing as too much buying in the world of commercial real estate? At least one expert asked himself that question after reviewing the Colliers International Global Real Estate Outlook report, which found that more than half of the 600 investors it surveyed plan to increase their allocation to real estate in 2016. (Real Money)
  • Listing Option for Small Tenants — If you’re a small tenant who has wished finding office spaces was as easy as ordering a cab or setting up an online date, meet Crelow, a Minneapolis-based tech app. CEO and co-founder Jim Simpson described Crelow as “an eHarmony or Uber or Priceline.com for office space.” There are no listings on Crelow. Instead, the tenant lists information about itself and hopes to make a great impression to attract landlords. (San Jose Mercury News)