CRE is rigid by nature because of the physicality of the built environment; external (buildings) or internal (fitouts). As a result, this inherent rigidity has shaped the Lessee and Lessor leasing equation forever. But things are changing, and lessees are wanting more flexibility. The Corenet Flex Factor...
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CREview is our way of sharing views and opinions on CRE markets and issues that affect the industry. 2024 was the year Covid became a distant memory, the industrial markets adjusted after the biggest boom we’ve seen, the office markets kept plodding along, and the AI...
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At the TCN Fall conference in Calgary Canada, Scott Hutcheson of Aspen Properties, Iain McCorkindale of M3 Development, and Maxim Olshevsky of Astra Group, led a great panel discussion, Office: Residential Conversions (ORCs). In 2015, there was a sharp decline in oil and gas prices which...
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In the usual flurry of activity trying to get things done by the end of the year, it is always good to pause for a moment, and check where the market is at. Office occupancy rates have been increasing as more people have returned to the...
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Data centres in various shapes and sizes have been around for decades. They used to be stand-alone buildings built for specific end users, in particular the banks. Then in the 90’s and 00’s the next gen arrived - IBM, Optus and ASX to name a...
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At the first CoreNet CREtech panel discussion in 2017 we presented the Gartner Hype Cycle relative to CRE and technology. At that point, 6 years ago, the industry buzz word was “disruption”. The Gartner Hype Cycle is a graphic representation of the maturity lifecycle of new...
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The office market accordion keeps playing, and Adelaide is a good example. The recent JLL graph below for the Adelaide office market highlights that competitive rents and incentives have enticed some tenants back to the CBD over the last few years. Demand has been positive...
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This week we are off to Chicago for the annual TCN Worldwide Fall Principal’s Conference. It’s a real privilege to be part of such a dynamic and fun group of fellow Principals. We get to catch up on a personal and professional level and learn...
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The Property Council of Australia released the office vacancy figures last week. National CBD vacancy increased from 12.6% to 12.8% and non-CBD markets saw vacancy increase from 15.2% to 17.3%. Overall, the markets are soft and it looks like this will continue for some time....
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It’s been an interesting start to the 2023/2024 CRE financial year. A few focal points have come to the surface, and we believe they will be crucial components in shaping the year to come. Work McKinsey released its report on the lasting impacts of the pandemic on commercial...
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