Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
A 4,000 sq. ft. building on more than one acre in Westlake Village, CA, sells for $2.7M, reflecting the premium on space and location.
Although experts acknowledge the lack of clarity on pricing and the uncertainty about current market conditions due to inflation, rising interest rates, and supply chain disruptions, there is an overall optimism that this recession will not last long and that inflation is at its peak in most markets.
Although opportunities to acquire distressed CRE have been few and far between thus far, conditions may lead to a significant uptick in the sale of troubled office assets in the coming years. It’s long due, as industry observers have been anticipating a wave of distressed office listings since the pandemic’s onset first unsettled the office market.
Leadership in CRE is recognized by CBC, announcing its 2022 award recipients for exemplary leadership.
CBC facilitates a 10-year lease for New Views Bar and Grill in Houston.
The sale of an approximately 48,550-square-foot property in Canoga Park/Chatsworth, CA, showcases the dynamic nature of the local CRE market.
Several downtown areas like Chicago, Cleveland, and Philadelphia have excess office space and insufficient housing to meet growing residential demand. Thus, developers have a solid opportunity to give new life and purpose to an old building with nearby restaurants, retail, and strong employment.
Adaptive reuse apartments have recently become a popular subject of discussion as US office sales continue to sink. Over the past few decades, vacant office buildings have been redeveloped into residential buildings.
Worldwide, the hotel and resort industry peaked at $1.52 trillion in 2019. Following the travel restrictions during the pandemic, the industry is still in recovery mode. Unsurprisingly, the market decreased significantly in 2020 and 2021 – dropping below $1 trillion.
Highlighted in the February ICYMI we cover our further expansion into the great state of Montana, new marketing and social assets that are available, a product launch to help with branding and some last-minute details on our upcoming Global Conference!