In my last message, I wrote that even though the calendar flipped to a new year, it felt like we were still in 2020. However, I know we will progress and change will happen. For example, already we've welcomed a new president and can expect many new initiatives under this administration. Facility managers will likely see a renewed focus on curbing coronavirus, reopening schools and using clean energy.
Your fnPrime membership gives you access to all of our coverage investigating 2021 predictions and trends. Our recent article "Five 2021 Commercial Real Estate Trend Predictions" looks at what facility managers can expect to see in markets such as offices, healthcare, retail and more.
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Dan Weltin,
Editor-in-Chief
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Five 2021 Commercial Real Estate Trend Predictions
By Emily Johnson
It was the best of times, and certainly was the worst of times. Yes, 2020 was a tale of two cities for commercial real estate as retail, hospitality, and office properties became ghost towns overnight, while industrial, healthcare, and life sciences assets proved more resilient to the COVID-19 crisis, thanks in part to a tenant base consisting primarily of essential businesses. Commercial real estate experts predict the growth and contraction patterns experienced this year will continue in 2021, with some sectors expected to rebound faster than others as vaccines become more widely available.
"The most obvious change of the year has been robust development of warehouse and distribution facilities to meet the sudden rise in e-commerce," says Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. "At the same time, office, retail and hospitality development hit a near standstill as office workers, shoppers and travelers stayed mostly at home because of the pandemic. Developers in these sectors will need to get creative to reinvent these spaces to match how we work, shop and travel going forward."
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