Research, analysis, and perspectives on the built world.
Edge data centers are a distinct product type from hyperscale, driven by AI inference demand, 5G densification, and enterprise private cloud growth. This post covers site criteria, tenant profiles, underwriting distinctions, and where AI compresses the development workflow for metro and regional edge facilities.
April 29, 2026 ·5 min read
Self-storage has become a core institutional asset class, and the 2022-2024 supply wave is clearing in most markets. This piece covers the demand model, product type breakdown, site screening criteria and pro forma framework institutional developers use to evaluate new development, plus where AI compresses site screening and underwriting time.
April 24, 2026 ·5 min read
Medical office buildings have sustained above-90% occupancy through the office correction, driven by structural healthcare demand from aging demographics and the accelerating shift to ambulatory outpatient care. This guide covers the site selection criteria that differentiate MOBs from general office development, health system leasing dynamics in 2026 including consolidation risk, and where AI compresses the physician network mapping, regulatory research and pro forma modeling that define the MOB underwriting process.
April 23, 2026 ·5 min read
Battery energy storage (BESS) is emerging as a primary site selection driver as data centers and grid operators compete for dispatchable power. This post covers site screening criteria -- grid proximity, NFPA 855 setbacks, environmental constraints -- revenue stacking logic across energy arbitrage, capacity payments, and ancillary services, and how AI compresses the feasibility timeline for BESS development.
April 22, 2026 ·4 min read
Value-add real estate covers properties with upside through capital improvements, repositioning, or lease-up. This guide explains the value-add spectrum, how to structure the underwriting model, where deals go wrong, and where AI is providing the most traction for institutional development teams.
April 19, 2026 ·6 min read
Net lease development -- NNN retail, industrial, and medical office -- generates predictable institutional returns when site selection and tenant credit work is done correctly. This post covers site criteria by product type (retail traffic thresholds, industrial operational specs, medical office proximity requirements), the inputs to tenant credit analysis (corporate vs. franchisee guarantee, category risk, lease structure terms), and where AI compresses screening, credit research, and cap rate analysis.
April 18, 2026 ·5 min read
Build-to-rent residential development has matured into a mainstream institutional asset class, with affordability constraints and demographic tailwinds sustaining demand through 2026. This guide covers BTR site criteria, capital flow dynamics and how AI is compressing the site screening and underwriting cycle for institutional developers.
April 17, 2026 ·4 min read
Wholesale and colocation data center facilities look similar from the outside but represent fundamentally different development businesses. This post breaks down how lease structure, tenant credit, power density, capex, and exit pricing differ between the two product types, and provides a decision framework for developers evaluating which to build at a given site.
April 12, 2026 ·5 min read
GPU rack densities from AI compute workloads have outpaced air cooling's limits, forcing data center developers to choose between direct liquid cooling, immersion, and evaporative systems before a building is designed. This post covers the capabilities and site constraints of each approach, explains the water availability issue reshaping market selection, and shows where AI-assisted feasibility modeling changes the economics of the decision.
April 11, 2026 ·5 min read