Eli Lilly’s $700M RNA Bet In Boston Seaport Signals Focus On Future Tech

Boston’s industrial market has been called the most diverse in the country, with e-commerce companies, biomanufacturers from the area’s vibrant life sciences industry and more all competing for precious warehouse space.  In a report released late last year, CBRE noted that competition for industrial…

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The metaverse is just now emerging from nonexistence, but the commercial real estate sector is already considering how the virtual reality platform will send their business to the next level. 

There's certainly a place for CRE in the metaverse, as investors snap up virtual parcels of land and build offices, stores and entertainment venues within the platform, a virtual world made up of interconnected virtual communities that users can access through virtual reality headsets, augmented reality glasses, smartphone apps or other devices.

While there's still a level of investor wariness, almost 90% of respondents from Bisnow's first-ever survey on the metaverse have at least some knowledge of the platform, and they are largely interested in learning more. 

The survey, a compilation of opinions from nearly 400 respondents over the past month, showed that more than a third of respondents are either interested in investing in the metaverse or have already done so, despite its newness.

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It’s become an annual event, as much a part of the turn of the year as Auld Lang Syne at disappointing New Year’s Eve parties — asking whether the boom in industrial and logistics property is sustainable. 

“I think we’re still going to be talking about a supply and demand imbalance in 2023,” GLP Development Director Adrienne Howells said.

The growth of the industrial and logistics sector is set to continue in 2022, those in the sector told Bisnow. Only this year, it will be less about rising asset values, and more about rising rents.

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