CRE analysts have spoken. 2019 has been an amazing year for the industrial & downtown office categories in Toronto & Vancouver. Downtown office vacancy levels sat below 3%, lease rates have favoured the landlord nationally, industrial sector rents have increased & several downtown market products have already been pre-leased. And we all know that the e-commerce sector is driving demand for large warehouse space (bigger buildings) for distribution centres. For 2020, experts say that CRE transaction volume will be lower because investors & managers will be cautious, but the CRE market will continue to strengthen, barring a recession. So bring on the New Year! Here are some Deloitte Insights for 2020:
· Technology advancements like IoT & AI (ie. Mobile apps) will help to improve the tenant experience (ie. environmental & security) & operational efficiency, lower costs & identify risks
· Location, information, experience & analytics will be key factors that drive CRE success
· End users’ needs will also have to be serviced for sustainability
· Smart buildings will influence tenant leasing decisions
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