Which trends will shape commercial real estate in the next few years? "Finding Certainty in Uncertain Times," a new collection of essays from the Urban Land Institute, pinpoints several key drivers that will shape demand and development. "We believe that these trends will continue regardless of location, which political party is in power, and how quickly the economy recovers from recession, "writes Maureen McAvey, ULI executive vice president of initiatives. Among the trends to watch:
1. Regional migration, immigration, and population growth will create a new pool of middle-class, metro-area dwelling consumers.
2. Sprawl will continue, with outer suburb areas growing three times as fast worldwide as central cities.
3. Research, high-tech, education, and medical institutions will attract more capital to cities able to leverage the funds and create a positive climate for business and entrepreneurs.
4. Green features will no longer be a "bell and whistle" but rather an essential component for both location and building performance.
