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Talent May Be Shifting Away From Superstar Cities
CityLab – Emsi, a company that analyzes labor market data, found that cities in the Sunbelt and Intermountain West are pulling ahead of coastal gateway markets when it comes to attracting talented workers. A breadth of metro areas across the country can now offer bundles of amenities: renovated vintage buildings, coffee shops, breweries, localvore restaurants, music venues, and, not least, more affordable homes. Among those analyzed for Emsi’s Talent Attraction Index, the majority of the top 10 rated counties were not primary markets, including Duval County – encompassing Jacksonville, Florida – and Twigs County, encompassing Macon, GA. The Talent Attractive Index is comprised of six key metrics, including, job growth, net migration, and, educational attainment growth. This report suggests that talent may be shifting away from established primary markets to less expensive secondary cities and could mean a shift in commercial real estate investment and development to follow.
Investment News – Commercial real estate, an asset class long favored by institutional investors, offers a mix of stability, income, and capital appreciation that many investors and their advisors seek. This article explores how individual investors are generally under-allocated to this asset class, and how individuals and advisors should consider allocation to commercial real estate to supplement a traditional portfolio of stocks, bonds, and fixed-income assets. Private commercial real estate can potentially provide individual investors attractive long-term returns, stable passive income, lower volatility, and a low degree of historical correlation with public markets. Through EquityMultiple, individual investors now have access to institutional-quality commercial real estate at lower minimums.
BisNow – With the rise of internet marketing and social media, many consumer goods businesses don’t need prime real estate to attract new customers. As businesses look for ways to cut costs, some are beginning to migrate away from expensive main street locations into properties that previously were reserved for industrial uses. Developers observing this trend say the most likely retailers to make the shift are destination-type experiences, which don’t rely on foot traffic, and sellers of products that need large showrooms and inventory spaces. Owners of industrial properties are already adapting by renovating properties to add windows and other attributes that appeal to these retail tenants.