Jon Sockol, President and Treasurer of Vivon Corporation in Marlborough, Massachusetts, oversees commercial real estate (CRE) development projects throughout Central Massachusetts. A Certified Public Accountant, he maintains more than a decade of experience working in CRE.
Multiple trends and factors are expected to shape and grow the U.S. CRE market in 2013, according to industry professionals. Several organizations, including the Urban Land Institute (ULI) and Deloitte LLP, identify sustainable construction and design as an important trend in 2013, with commercial property owners and developers expected to benefit the most from core projects that integrate effective layouts and energy efficient features and achieve Leadership in Energy and Environmental Design (LEED) certification. Experts also forecast that 2013 will provide multiple opportunities for CRE repurposing and value-add projects.
A recent CRE report by the ULI and PricewaterhouseCoopers points to several best bet projects for investors and developers in 2013. Among these best bets are urban infill projects in hip residential neighborhoods of top metropolitan markets, such as New York and San Francisco. The same report suggested an increased demand for industrial projects in major distribution hubs, such as those located near international airports and seaports.