Miller Lavoie LLP

Sustainability is becoming a key focus in commercial real estate financing, with sustainability-linked loans (SLLs) playing an increasingly central role. These loans provide developers with attractive financing terms contingent on meeting specific environmental targets, such as reducing carbon emissions or securing LEED certifications. SLLs are becoming a powerful tool for developers looking to capitalize on the growing demand for eco-friendly buildings. Lenders are offering better interest rates to projects that incorporate sustainable building materials, energy-efficient systems, and renewable energy infrastructure. As a firm born out of a desire for continued and strategic growth, Miller Lavoie LLP is well prepared to assist clients navigating the complexities of a focus on sustainable development. https://lnkd.in/eFRhHBAU

Recently, Federal Reserve Chairman Jerome Powell provided valuable insights into the current state of the economy, which has a significant impact on transaction volume in commercial real estate. During the most recent meeting, Chairman Powell discussed the Federal Reserve's monetary policy. He noted that rates have remained higher than expected, despite inflation data because the employment rate has remained low. Although rates have remained constant for more than a year, Chairman Powell alluded to the possibility of a rate cut, as much as 50 basis points, in September.?A reduction in rates leading into the fourth quarter could create a more lively environment for transactions in the commercial real estate market, which has otherwise seen a significant cooling since nearly all-time highs from 2020 to 2022. https://lnkd.in/e_KQ2KUJ

Proposed legislative initiatives at the federal and state levels targeting zoning reform could have long lasting and beneficial impacts on housing supply and development. There is significant bipartisan support for bills that would remove historical barriers to housing development and construction, and burgeoning support for more uniform, pro-development standards. With the removal of restrictive measures and streamlining of byzantine rules, we expect to see an uptick in multi-family housing developments across the country. At Miller Lavoie, we have the expertise to help our clients navigate from start to finish in their development objectives. https://lnkd.in/eh6YEqcB

In today’s real estate market, distressed debt offers unique opportunities. Despite a growing economy, high interest rates, approaching maturities, and refinancing challenges are creating intriguing investment prospects in distressed assets. Understanding the intricacies of distressed debt can provide significant advantages in the evolving market landscape. At Miller Lavoie, our extensive experience representing clients acquiring distressed debt and positioning distressed assets ensures we can navigate these complex opportunities effectively. https://lnkd.in/eMnZu8S2

The Federal Trade Commission's (FTC) recent ruling to ban non-compete agreements has stirred significant debate within the commercial real estate industry. In an industry where non-competes are often utilized, upheaval and a significant response from the business community seem likely. Businesses are concerned about preventing competition from former employees with unique access to proprietary information and outside partners & stakeholders. The FTC argues that restrictions on worker freedom stifle innovation across industries, and the destruction of those barriers will foster a more open, robust, and competitive economy. Most workers would likely echo those sentiments. Our firm counsels professionals and businesses on each side of the non-compete agreements debate. Please reach out to us should you need guidance navigating the unknown headwinds of non-compete agreements. https://lnkd.in/eJGwM6Xi.

The industrial real estate landscape is undergoing a rapid transformation, driven by the exponential growth of e-commerce and the rapid adoption of advanced logistics technologies. As businesses strive to meet consumer demands for faster delivery times, the focus is shifting towards not just expanding space, but enhancing efficiencies and reducing lead times. Urban centers are witnessing a surge in demand for industrial spaces, as companies prioritize strategic location and tech readiness to ensure seamless last-mile delivery. This trend is reshaping site selection strategies and driving significant investments in capital-intensive, high-tech facilities. Despite market forces from slowing consumer spending to debt markets, the average rents for industrial space have increased from 2023 to Q1 2024, although net absorption of vacant space has decreased. One component to this increase in rents is the growing demand for "last-mile" delivery centers and smaller and more specialized warehouses in dense metropolitan areas. This shift indicates the industry's move towards more sophisticated and tech-driven facilities. https://lnkd.in/g7bqkEyw

There is an increasingly positive outlook for retail real estate space as post-COVID trends indicate increasing competition and demand in the retail sector. Recent data shows that landlords are having a much easier time filling prime retail space as shopping center vacancies have fallen to an all-time twenty-year low. If trends continue in this direction, expect to see landlords aggressively moving away from COVID era concessions in favor of more landlord favorable rent structures. https://lnkd.in/eJUaqeWs

Miller Lavoie LLP is excited to announce that Sam Wilmoth has joined the firm as Of Counsel. Sam previously worked at a regional law firm in Atlanta prior to continuing the development of his commercial real estate expertise at Coro Realty Advisors, where he was a Managing Partner. “We are excited to have Sam back on our team. Sam’s experience, skill set, and contacts mesh perfectly with the partnerships we create with our first-class clients. Personally, and professionally, Sam will build on our foundation of prioritizing clients, colleagues and culture”, says partner Duncan Miller. Sam adds, “I am excited to be working with former colleagues, old clients and new. Especially in an environment that gives more than lip service to entrepreneurial spirit. Miller Lavoie is an incubator for commercial real estate ideas. This unique opportunity will be energizing and refreshing while surrounded with clients and colleagues that are best in class.” If you would like to reach out to Sam, please email him at [email protected].

A great win for for the Community and our Client!