Patrick Scanlon’s Post

Rising construction costs and policy shifts are putting a damper on new office developments. The pace of new office construction has slowed down significantly. High construction costs and changes in policy have prompted many developers to pause and reassess their plans, leading to a reduced number of new office buildings coming to market. Hashtags: #ConstructionSlowdown #OfficeDevelopment #RealEstate

Recent analysis by CoStar News reveals a stark contrast in London’s office construction trends. Construction starts for large buildings are on the rise, while starts for smaller buildings have fallen to record lows. This shift suggests developers are betting on expansive, high-capacity offices as the sector continues to adapt following Covid-19. You can read the full article here: https://ow.ly/gW9l50SBFWV

Size Matters for London’s Office Developers as Construction Starts for Large Buildings Rise 🏗   Interesting article from Patrick Scanlon who reports that the amount of space under construction in units bigger than 100,000 sq ft rose to an all-time high of almost 15 million square feet in the first half of 2024 📈   In stark contrast, for the first time in at least 20 years, no new office schemes smaller than 100,000 sq ft started in central London in either the first or second quarter of 2024 📉   There is now just 1.1 million sq ft under construction in smaller buildings, the lowest for over ten years and almost 40% below the 10-year average 🏢   Get in touch if you want to stay on top of commercial property market trends with CoStar UK and link to the article in the comments.    #offices #officetrends #commercialrealestate #CRE #data  

Office refurbishments have risen to an all-time high in London. As construction increases in urban locations a lack of development space means that owners and developers are increasingly looking to repurpose existing buildings. As a result, interest in latent defects insurance (LDI) is increasing in this space. Find out new developments here: https://bit.ly/3vsYxuS #ConstructionIndustry #PropertyDevelopment

#Projectory has learned that plans have been filed for two office towers to be built in an inner #Melbourne suburb – here's where the project is at. @ProjectoryNews https://lnkd.in/grxdMD29 #projectory #projectleads #majorprojects

Every high-rise that leaves its mark on Atlanta’s skyline is celebrated when its construction reaches its tallest point. But few buildings have the potential to be the last new tower of their type for years to come. The 25-story office tower known as 1020 Spring could be the last major office high-rise built in Atlanta for a while. While more companies are setting return-to-office policies, the amount of available office space in metro Atlanta has set record after record, with nearly one-third of all office square footage being on the market for rent at the end of March, according to data from real estate services firm CBRE. Developers and their financers have taken notice with many canceling, delaying or paring back their new office construction projects due to uncertain demand going forward. Read more: https://lnkd.in/eCt52bEP

The idea of converting office buildings to residential use is being pitched in Houston — and around the world — as a way to restore property values and reduce vacancy rates. But wary investors, rising construction costs, a dearth of government subsidies and outdated property values are stifling efforts to convert more Houston offices.

#Projectory has learned that plans have been filed for two office towers to be built in an inner #Melbourne suburb – here's where the project is at. @ProjectoryNews https://lnkd.in/gBk2EpBr #projectory #projectleads #majorprojects

While incentives and policies for office-to-residential conversions continue to happen, some office landlords are considering demolition as another quicker, less sustainable option. In other areas of the country with less government support, many are turning to demolition as a more immediate solution. Read on to hear from architects and developers around the world as well as RKTB's.

Phoenix Office Deal Volume Increases, Construction Still Slow Contact me to discuss the latest scoop in real estate! #phoenixrealtor #phoenixrealestate #paradisevalley #scottsdalerealtor #scottsdalerealestate #arizonahomes #arizonarealestate #arizonarealtor #arizonarealestateagent #realestate