Max Nolan’s Post

Denver’s commercial real estate scene is booming with potential! As our city grows, so do the unique opportunities within the commercial space—from vibrant office parks to new retail developments. This article dives deep into how Denver is unlocking its potential, with insights into what makes our market so dynamic. Whether you’re an investor, business owner, or just curious about where the Denver skyline is headed, don’t miss this read: https://lnkd.in/grtEwa65

Humans might have a super-skill for building mental maps. All you have to do is be an observant person (as we naturally are), seeking out the places and experiences that make you happy (as we naturally do), and over time you will build an understanding of a place. It’s one of the things I love most about real estate: you don’t have to be an industry wonk to be able to see and feel what is going on. But, given how easily that understanding comes to us, it’s odd that we struggle so much to translate it onto actual, visual maps. You know, things you can show other people, not just tell them about. I tried to change that with our new mapping framework in CBRE's Shaping Tomorrow’s Cities. The video below starts with a view of Washington DC, as you might see it from the cockpit on a clear-morning’s approach. The bars on the map show how much office space is in each location. You can see Downtown, Arlington, Bethesda, and Silver Spring. And as it zooms into Downtown, you can see the map tiled up into hexagons of different colors, each one the size of a five minute walk. Five colors, indicating five district types. -   In Blue, business districts with much more commercial space than residential. Light Blue if all the space there is older, non-Prime space, and Dark Blue if it contains a Trophy Office building -   In Teal, vibrant residential neighborhoods with walkable entertainment, retail, and dining. -   In Beige, the transition zones between residential and commercial areas, with a mix of both, and -   Bright Green, vibrant mixed use with top class commercial office space in a vibrant, residential neighborhood. In a simple sense, it is a land use map. But more intuitively, this is the patchwork picture of what happens, where. It is a picture of how neighborhoods feel, at a micro scale. Why this excites me, as an industry wonk? Just a handful of investments can change the colors on the map. An office upgrade can take you from light blue to dark blue. An office to apartment conversion can take you from dark blue to bright green. We did this analysis for 19 cities. You can see all of the maps in our report! Stay tuned for some findings on how buildings are performing based on their location. We think it might have some clues for how cities will evolve in the next few years… #futureofcities

In the 1950s American cities were hubs of manufacturing activity. By 2010 they were driven by finance and business services. Chances are that by 2050, maybe even before that, American cities will have reinvented themselves again. We are following this story very closely. Check out our future of cities report.

Today’s Bisnow conference featured a series of insightful panels exploring the future of Chicago’s economy. Discussions spanned opportunities and challenges in the real estate market, with a focus on office spaces, as well as the broader “Work/Live/Play” dynamic shaping downtown Chicago and other urban centers. I was honored to join the panel on “The Downtown Dilemma,” alongside Cindy Chan Roubik (Chicago Department of Planning and Development), Ryan Alan Caylor Lovell (The John Buck Company), Chris Baker (Zeller), Mike Flanigan (Arch Amenities Group), James Smiley (Skyline Construction), and moderator Chuck Hurchalla (Evolution Sustainability Group). We collectively emphasized the need to develop a vibrant urban core that’s active and thriving 24/7—not just during traditional work hours. Although Chicago is still navigating post-COVID challenges, particularly high office vacancy rates, the mood was overwhelmingly optimistic about the city's future. I highlighted the importance of thinking big and bold when it comes to urban development. Transformative projects like decking over the freeway between the Loop and Fulton Market, or creating a stunning pedestrian bridge connecting the north end of Michigan Avenue with Oak Street Beach, are crucial to fostering connectivity and enhancing the city's appeal. Global cities aren’t just built with small, incremental changes—they’re shaped by ambitious visions and bold action. Let’s think big!

San Francisco’s downtown has faced significant challenges in recent years, with office vacancies soaring and national retailers hesitant to commit. However, innovative initiatives like the “Vacant to Vibrant” program are breathing new life into these urban spaces by empowering small businesses to fill the void. The Embarcadero Center, a 3.3 million-square-foot complex owned by BXP, exemplifies this transformation. Christine Yuen, BXP’s Vice President and head of leasing at the center, spearheaded a “retail activation initiative” to revitalize the area. Recognizing the potential of local entrepreneurs, Yuen engaged directly with small business owners, even reaching out at neighborhood farmers’ markets to invite them into downtown spaces. This approach acknowledges the shifting dynamics of urban retail. With traditional national tenants retreating, there’s a unique opportunity for local businesses to establish a presence in prime locations. Programs like “Vacant to Vibrant,” a public-private partnership managed by the nonprofit SF New Deal, offer free rent to retailers, facilitating their entry into downtown areas. The success of these initiatives highlights the importance of adaptability in urban planning and commercial real estate. By fostering collaboration between property owners and small businesses, cities can transform vacant spaces into thriving hubs of activity. This not only supports local entrepreneurs but also enhances the vibrancy and appeal of urban centers. As we navigate the evolving landscape of post-pandemic urban life, the experiences of San Francisco underscore the value of innovative, community-focused solutions. Embracing such strategies can lead to more resilient and dynamic cities, where both businesses and residents thrive. https://lnkd.in/eCffwtvW

via Project for Public Spaces newsletter—I had to share this Kris Larson / Downtown Houston shout-out! 🏙 + 🌳🌷🌳 = 📈 "This past Thursday, Project for Public Spaces hosted the first edition of our Made By All webinar series, "How Can Placemaking Help Downtowns Bounce Back?" Our inspiring panel of downtown leaders offered up a diversity of of insights and case studies for placemakers, but four big takeaways stood out: 1. Public spaces punch above their weight. In a direct comparison of a small public park and an office skyscraper, Kris Larson from Downtown Houston found that the park drew twice as many visits, and twenty times the number of people, with a greater likelihood that they would spend time and money elsewhere downtown.   2. In fact, some public spaces are busier than before the pandemic. According to Ian Ross from Placer.ai, a pandemic open street in Arlington Heights increased the reach of a pre-pandemic Sounds of Summer concert series so much that they had to reduce the program from two nights to one! Programs that build and support new habits of use can be key to bringing people back downtown.   3. Focus efforts on nodes of activity. Part of the secret sauce of Cleveland's successful adaptation, according to Hannah Gall of Downtown Cleveland, is to focus placemaking improvements and office and residential real estate efforts on relatively small areas around busy public spaces.   4. YOU are your biggest placemaking asset. The Baltimore Peninsula Community Benefit District's newly minted Executive Director Claudia Jolin reminded us that behind every great place is a great person observing, convening, and caring in countless little ways. Sustainable downtown recovery requires investing in those people."

Dublin's bold vision for the Metro Center could redefine how we think about suburban office parks. By transforming a traditional office district into a walkable, mixed-use neighborhood, Dublin is setting a precedent for adaptable, future-oriented spaces that prioritize community engagement, convenience, and quality of life. Projects like this reflect a growing trend where outdated commercial areas evolve to meet modern demands—incorporating residential, retail, and green spaces to attract not just businesses but people. https://lnkd.in/gy8wQtU3

Downtown Dallas’ aging high-rises are emptier, on average, than most of the other office spaces across the metro, according to data from multiple commercial real estate firms. But since the end of 2019, businesses have left nearly 3 million square feet of office space in the downtown core behind. By Nick Wooten #DFWBusiness #Business #RealEstate #DowntownDallas

As we wrap up a busy ‘24, the Manhattan office market has remained a tale of two cities. Trophy buildings, new construction, and redeveloped assets in close proximity to key transit hubs have thrived. Park Avenue is on fire. We've seen alternative investment firms continue to compete for top space, driving demand and rents back up to record-setting, pre-pandemic levels. Meanwhile, older/distressed buildings continue to face challenges, presenting difficulties for owners, and opportunities for tenants seeking value.  However, as tenants prioritize quality and amenities, older buildings have remained vacant. Superior product is winning. With most industries recommitting to an office-first culture, they're focused on attracting and retaining top talent with inspiring workplaces, while balancing quality, convenience, flexibility, and cost. Real estate strategies are being evaluated more thoughtfully than ever before. Exciting times for NYC real estate as these trends continue to unfold into ’25… Feel free to reach out directly (sam.seiler@cbre.com) with any questions or to discuss your firm's strategy. Wishing you a happy and healthy holiday season and look forward to connecting in the New Year!

REIMAGINING THE FUTURE OF ANY DOWNTOWN ”The most sustainable city is the one that’s already built. In order to achieve diversity and density in our downtown we need one critical thing: more attainable places to live. The most expeditious path is to convert our office buildings into multi-family housing. By reusing the existing downtown building stock, we not only create a more balanced ecosystem but also do so in a way that is more sustainable for the planet.” The quote to be found in the attached article from @gensler This to be read in connection to OfficeSwapp article last week covering “Horizontal Property Ownership” through 3D Property Formation. How is your Downtown doing, and what’s your take on this? Articles as “food for thoughts”. Comment or DM for discussions. Follow OfficeSwapp on LinkedIn For contact - www.officeswapp.com info@officeswapp.com +46(0)8-222 777 Skeppsbron 8, 111 30 Stockholm #jointheofficeevolution