Commercial Construction & Property Management - Partnered for Success.
Updated: Jan 7
Advancements in technology and increased business complexities continue to have an impact on commercial real estate. Technology has ushered in an era where the tenant experience is taking center-stage over traditional bricks and mortar. We’ve also witnessed how e-commerce has forever changed the face of retail real estate. When goods can be ordered online and delivered same-day, shopping center operators are finding their properties abandoned during the weekdays. CRE professionals are challenged to be proactive to change rather than be reactive, and so service providers across the industry must constantly innovate and adapt to shifting consumer behaviors. Today’s consumers have different priorities. For office spaces, amenities and experiences have become the driving differentiator, while in the retail sector, this may entail re-positioning shopping centers as entertainment centers.
The Asia Pacific Real Estate C2 Summit is an annual event aimed at providing a glimpse into current challenges and opportunities in the North American real estate market. This year, industry experts spoke on trends in commercial real estate, noting that today’s forward-thinking retail properties are fitted with smart technology, like sensors that provide valuable insight ranging from pedestrian traffic to shopper activity. Many stores are focusing more on customer experiences and less about selling merchandise onsite. State-of-the-art shopping experiences are gaining traction across the United States and the use of smart technology, including apps, adds to the experiences provided by these innovative retailers. As consumer trends move away from large department stores in 2020 and beyond, we expect to see even more re-purposing or back-filling of large, empty department stores into right-sized spaces. However, there is also fluidity to the market. A few years ago, the dominance of e-commerce led a transition from traditional storefronts and chain roll-outs to a strictly e-commerce only model, without a brick and mortar base. Today, the channels are blending and some retailers have pivoted back to more targeted brick and mortar storefronts, strategically positioned to best serve their consumers. To support your goals, these types of projects will require a veteran construction team with proven competence and expertise - you will need to choose wisely!
Construction will have several roles to play as you manage your commercial properties, from repairs and maintenance, to capital improvements. To realize your vision, you’ll need to partner with an experienced, high-performing general contractor (GC) who will work tirelessly to deliver results and help you navigate the complexities of your project. You don't need to be an expert in every area involved in property management, but you're ahead of the game if you're aligned with an experienced team you can trust. For capital improvements, look for a financially sound and seasoned contractor. These projects present more complexities than repairs or maintenance and requires outstanding project management and communication from your GC.
Partnering with the right GC in property management is critical to the profitability of your property. Source a right-sized GC who will work seamlessly with you, your architect, designer and local regulatory officials, and who can do more than just help you implement your management plan - they have the experience to advise you on it. A good GC is one you can count on to provide quality, safety, and help you identify and avoid future issues. A great GC does all of the aforementioned, but also takes the time to understand your pain points, business, property, and goals. After-all, working hard and working smart can be two different things😉.
R-PCI Construction stands out in class all our own when it comes to the client experience. With a project management team boasting over 95 years of combined experience, R-PCI has perfected a culture of personalized processes and hands-on, leadership driven decision-making, all designed to put our clients first. When the time is right to consider partnering with a new GC, think of R-PCI Construction, a company that has earned a reputation throughout the MidAtlantic and Southeast regions for Building Integrity from Start to Finish Since 1989™.