As 2016 comes to an end, we'd like to catch our breath and reflect on some of the amazing travels we've been on this year! Germany: Our Appraiser, Ryan Myers, visited Germany for a wedding and stopped by Oktoberfest this past September! Mexico: Our Operations Director, Joanne Montgomery, visited Mexico this past January! Iceland: Maddy Johnson, our Marketing Coordinator, visited Iceland this past June! Ireland: Our Research Analyst, Spencer Morse, visited Ireland in July! Jamaica: Jessica Perryman, an Appraiser, went to Jamaica this past January! Colombia: Ryan also went to Columbia this year! Montreal: Our Director of Multifamily, Daniel Kann, MAI, went to Montreal in October! Here's to more travels in 2017! Tell us where you went in 2016 in the comments above!
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We think of grocery stores as necessities in our neighborhoods, but how will these necessities change as technology increases? As we explore the future of grocery stores in this post, we'll uncover some interesting trends, and what you could possibly expect for the future!
You Guessed it: Millennials: Just like many of the recent CRE trends we've been posting about, this one has a lot to do with Millennials' life-style choices and preferences for convenience and efficiency. According to articles here, here, and here (as well as here, here, here, and here...this has been a well-documented trend), Millennials prefer not to leave home or take time out of busy schedules to grocery shop. E-commerce is HOT!: Because folks are so busy these days (and thanks to the internet), services like Amazon Fresh, Jet.com, Google Express, and many more are taking off at a record pace. If you could get your groceries faster, more cost-efficiently, and environmentally friendlier, why wouldn't you? Discount Chains are Gaining Popularity: We are seeing trends like increased student loan debts among the population and people have begun shopping more and more at discount chains like Dollar General to save money. Research suggests that even prosperous adults choose discount stores for home staples. Warehouse Development Is Increasing: Warehouse facility development is trying to meet the demands of e-commerce. In Kansas City we've certainly seen an increase in warehouses first-hand as of late! After reading this, it should come as no surprise that the future of grocery shopping will be driven by technology. Because of this we can expect new types of jobs, developments, and services to increase and possibly change our economic landscape. What do you think the future of retail will look like? Sources: How the Shareconomy Affects Commercial Real Estate Groceries & Millennials: They’re Buying Less, Shopping Online Why Do Millennials Hate Groceries? Millennials in the grocery store: Are they really that much different from older generations? Millennials Want More From a Grocery Store Grocers Feel Chill From Millennials 8 Shopping Habits of Millennials All Retailers Need to Know About If Time Is Money, Millennials Are Broke--And They Couldn't Be Happier Amazon Fresh Jet.com Google Express Online Grocery Shopping On Pace For 9.5 Percent Annual Growth Do Online Grocers Beat Supermarkets? Grocery delivery service is greener than driving to the store Increasing Student Loan Debt Affecting Millennial Renters Prosperous Young Adults Don’t Need To Shop At Dollar Stores, Do Anyway How Ecommerce Is Changing Warehouses for the Better Kansas City Will Benefit From the Shift to E-commerce Last Friday we attended the Midwest Real Estate News’ Real Estate Investment and Finance Summit where our own Daniel Kann, MAI sat on the Financing Market panel! Here are five takeaways from the panelists' discussion: 1. Interest Rate Increases Will be Slow and Steady: It seemed to be consensus among the panelists that if interest rates increase, it will be at a glacial pace. Additionally, seller pricing could take interest rate increases into account if this does happen. 2. Kansas City is Attractive to the Coasts: Panelists agreed that the low cost of living and increased opportunity for yield is partially responsible for the influx of out-of-state property investors we've been seeing in KC as of recent. 3. CMBS Defaults Could Spike: This could cause CMBS lenders to be eager to close, according to the panelists. 4. Watch Out for TIF: When the discussion turned to Tax Increment Financing, panelists were concerned that there would be no incentive to continue to redevelop if we lean too much on TIF. 5. Kansas City is in a Good Place: Panelists predicted that Kansas City will become more and more desirable as time goes on. If the city continues to increase job growth and accommodate the desire for urban living, we will see an influx of people to the city. What do you think about the panel discussion? Anything to add? Sources: Cost of Living in Kansas City, Missouri, United States What are the Best Cities for Out-of-State Investors to Buy Rental Properties? The New American Dream Is Living in a City, Not Owning a House in the Suburbs
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