The Innovators: T. Dallas Smith & Co. CEO Dallas Smith

Multifamily real estate in the U.S. took an unambiguously positive step in the first quarter, but it gave indicators that a path to recovery won’t be the same as a return to normalcy.

Read the full story here.

In Case You Missed It...

Flex office space has always been correlated with fluctuations in the wider commercial real estate market and office demand. But while the industry took a significant hit last spring, with more than 200 locations closing in 2020, per Upsuite, and once high-flying WeWork, now the subject of a special-purpose acquisition company deal, being reduced to a fraction of its former self, many industry observers see potential in flex space as corporations seek a new normal with hybrid schedules, remote work and potentially reduced real estate footprints.

But a central question for the industry is whether or not new demand will fuel new hiring. Liz Burow, a workplace consultant and former WeWork design director, doesn’t think this new enterprise demand necessarily translates into a large expansion of the flex office industry workforce. Like much of corporate America, the coronavirus pandemic has taught firms to do more with less. 

“I am not sure if there will be a lot of hires within the flex space industry,” she said. “I think all the fluffy jobs are done or gone; all those people went on to other careers. Companies realize they can do a lot with a lean team, or have consultants and vendors handle design or operations.”

Read the full story here.

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

Shane Connell came up in the family business, a New Jersey-based company knocking on 100 years in operation across a variety of industries, from its roots in rice trading to mining equipment to real estate development and acquisition. Evolution has always been in The Connell Co.'s DNA, and as part of the fourth generation of Connells running the company — he is executive vice president and co-head of Connell Real Estate & Development Co. with his brother, Duane — Connell is shaping the next iteration of its real estate strategy. 

Read the full story here.