Post-construction cleanup can mean a few different things, depending on the nature of the tenant improvements and the obligations of the builder. But whatever the scenario, the bottom line is that a facility needs to get back to normal for business to resume. Some contractors have been known to leave large items at a construction site. These can be pallets, cement blocks, discarded wood, demolition debris, piles of dirt, and things you cannot imagine. It will happen more often than you think. If your construction contract does not spell out who cleans the mess, you have a problem on [...]

As the pandemic eases, construction costs are rising across the commercial sector. There are several uncharted factors impacting these market forces. However, even with the increases, demand is expected to rise as retail, offices, medical facilities, industrial properties, and multifamily businesses re-enter sectors of the economy they have put off during the last eighteen months. Commercial real estate inventory, demand, cost of building materials, supply chain disruptions, interest rates, labor shortages, and the pandemic are heavy influences of current pricing trends. Federal infrastructure spending in the near future is expected to squeeze resources further. You may continue to see [...]

While there are always shifts and trends in the commercial property market, they usually happen gradually. Many predict that the retail and commercial real estate markets are on the verge of their most disruptive transitions in recent memory. Questions still linger as to which direction these retail conversions, shopping center makeovers, and office conversions will take. The ascent of e-commerce shopping and shifts in consumer shopping habits were occurring for more than a decade. The pandemic forced rapid widespread acceptance of online shopping for millions who may have otherwise taken years to adapt, if at all. It is too [...]