Despite what has happened with the political turmoil in this country and the polarity the U.S. presidential election, there is one thing nearly everyone in the commercial real estate industry could agree upon — President Trump’s promise of a $1-trillion plan to improve the infrastructure in this country would be a good thing.
Nothing about his presidency would make more sense for commercial real estate than to apply upgrades to the nation’s roadways and transportation hubs, many of which have been in dire need of repair for some time. After all, the transportation of goods in a timely manner and workers more easily accessing their jobs, among other pluses, could only help the success of office, industrial and retail assets.
But it’s never that easy.
President Trump’s infrastructure plan, like several other aspects of the administration, is coming under scrutiny.
Whatever the outcome to make such improvements, there is a focus on public-private partnerships. They don’t always work out, but when they do, it’s for the betterment of CRE and the communities involved. There are countless examples of how governments and developers have worked together to build profitable commercial real assets in conjunction with the necessity of the betterment of public land. A great example is the redevelopment of Oakland Army Base by major firms, such as Prologis. The infrastructure of the area is greatly improved, and jobs and housing can be created.
Additionally, there are serious infrastructure funds already doing major work around the world, profiting both investors and the areas in which they do work.
Last year, Transwestern released a report saying that commercial real estate firms are already making serious progress in benefiting communities through the assets they add to a major city. Whether or not they pay for it, the addition of office/residential/retail centers around key infrastructure improvements can only add to the project’s success. Collaboration includes: the continuation of improvements experienced by Los Angeles’ public-transit system, upgrades to New Jersey’s transit system or making the ride from Washington’s Dulles airport more palatable before hitting D.C.’s Inner Loop.
If federally mandated infrastructures aren’t able to be put into place easily, at least there is a roadmap for developers and government agencies to work together, benefitting both.
About GRS Group
GRS Group is a leading provider of commercial real estate (“CRE”) services worldwide. With offices across the United States, Europe, and affiliates around the globe, GRS Group provides local market knowledge with global perspective for institutional real estate investors, occupiers and lenders worldwide. The GRS Group team has evaluated and advised on over $1 trillion in CRE transactions.
Through the company’s proprietary management process, Global Services Connection, GRS Group delivers an integrated suite of services including Financial Advisory, Transaction Management, Assessment and Title Insurance. We provide a single point of contact, capable of leveraging the GRS Group portfolio of companies, and delivering customized solutions to assist our clients in achieving their investment goals.
For more information, visit http://www.grs-global.com or call 877 477 2731.