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defInIng reAL estAte deveLoPMent Real estate development is the process of bringing built space to fruition. It starts with an idea and ends when consumers—tenants or owner-occupants— occupy the physical space put in place by the develop-ment team. Each real estate project is in essence a separate business entity employing the three factors
America. NAIOP advances responsible commercial real estate development and advocates for effective public policy. For more information, visit naiop.org. The NAIOP Research Foundation was established in 2000 as a 501(c)(3) organization to support the work of individuals and organizations engaged in real estate development, investment and operations.
6 | Commercial Real Estate Terms and Definitions Submarket Submarkets are geographic divisions of markets. These smaller divisions or boundaries are generally recognized and accepted by the real estate industry and the business community in a market and region. Submarkets are geographic boundaries that delineate core areas that are competitive
the purchaser agrees to buy certain real estate and the seller agrees to sell upon terms and conditions set forth therein. Air Rights - Rights in real property to use the space above the surface of the land. Alienation - A transferring of property to another; the transfer of property and possession of lands, or other things, from one person to ...
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Guide: Real Estate Development Process Overview 2 . 2. The process of real estate development . Real estate development can be considered an art and a science. It is an art because the full process is never the same twice; it requires leadership with mental flexibility, good timing, and political sensibility . At the same time, it
the Real Estate Development Process all over again; the Redeveloper sells the property to the Land Re-Packager. However, the Real Estate Development Process can also be described diagrammatically. Each of following diagrams show the same process, but from a different perspectives. Figure 3
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a manufactured product, a real estate project is part of a larger physical system programmed to achieve long-term objectives, but each real estate project is The Development ComponentSeries (DCS) is a file of monographs on land use planning and development practices and cases published by UL1-the Urban Land Institute.