Noob question - What does infill mean in regards to CRE
New to CRE game and I have heard the word infill used many times in regards to retail and CRE and I just want to be sure that I know what I am talking about when discussing this type of real estate. The definitions I have seen don't really clear it up too much for me or maybe I'm just over complicating this issue lol, any help is appreciated!
[{"id": "f6jtr8z", "text": "Infill is a term that typically refers to either:\n\nA) new development on underutilized portions of properties. For example a parking lot of an existing apartment building might be developed into a retail building. This is a method of value-add investment.\n\nB) General redevelopment of existing buildings where there is potential to add density. For example a single storey retail building could be demolished and a 10 storey office building could be built in its stead.", "replies": [{"id": "f6jwepd", "text": "Great answer!", "replies": [{"id": "f6k50s8", "text": "Thanks! I\u2019m always ready to fill someone in about infill.", "replies": [{"id": "f6kargx", "text": "No doubt. I was about to chime in, but you got it all covered.", "replies": [], "depth": 4}, {"id": "f6kgq0k", "text": "I see what you did there.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f6k3638", "text": "Infill could be vacant or under-utilized land in the midst of larger buildings, and their development.", "replies": [], "depth": 1}, {"id": "f6kb4k5", "text": "In my experience a location would be considered \u201cinfill\u201d if it were surrounded by developed land with very little, if any, remaining vacant space. Usually considered a positive in that the lack of available space makes it more difficult to develop competitive supply. Redevelopment of surrounding properties is obviously possible, but more challenging than just building something on an empty lot.", "replies": [], "depth": 1}, {"id": "f6kdai0", "text": "Infill often means a buildable piece of land (or a teardown building) in an otherwise denser area. Often coupled with \"urban\", as in \"urban infill\". These can be valuable in areas where the surrounding economy / density is already strong and there are few developable pieces of land remaining in an area.", "replies": [], "depth": 1}, {"id": "f6kverl", "text": "In terms of retail, infill = inner city. The alternative is suburban, which are your large power centers with tons of parking on a blank canvas of development. \n\nInfill is often paired with Mixed-Use, meaning, in order for it to pencil out you have to do all this other BS on the project. Which makes sense I guess, infill land is expensive and small and suburban land is cheap and big.", "replies": [], "depth": 1}]