Growth of Mixed-Use Properties Requires Updated Knowledge
Mixed-use developments continue to rise, highlighting consumer preferences for structures that cater to a “live, work, shop, and play” lifestyle. A 2017 National Community and Transportation Preference Survey indicated that 62% of millennials, 45% of Gen Xers and baby boomers, and 55% of the silent generation want to live in walkable communities and prefer shorter commutes. With this influx of mixed-use properties, asset and property managers are increasingly being asked to be well-versed in residential, commercial AND retail disciplines.
To help with this demand, IREM® (Institute of Real Estate Management) has recently released two new publications, Shopping Center Management & Leasing, 2nd Edition, written by Alan Alexander and Richard Muhlebach, CPM, and Community Associations: A Guide to Successful Management, 2nd Edition, written by Vickie Gaskill, CPM, ARM, MPM. “The retail market is proving to be extremely resilient, and continues to evolve as a response to consumers’ changing wants and needs, new retail concepts, and evolving retail distribution systems. Shopping Center Management & Leasing provides insights into the many roles and responsibilities of a shopping center manager,” notes Don Wilkerson, CPM, 2019 IREM President, Gaston & Wilkerson Management, AMO, Reno, NV.
Nearly 70 million Americans now live in common-interest developments (CIDs)—HOAs, condos, and co-ops—which account for nearly a quarter of the U.S. housing stock. As these numbers continue to rise, property managers will be seeking more accounts in this competitive residential real estate industry. Community Associations: A Guide to Successful Management will help managers hone the skills necessary to excel in this field. Both publications include helpful forms, templates and best practices for all real estate managers.