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US Retail Sales and Economy Expected to Grow in 2021, Says National Retail Federation

WASHINGTON, D.C. — The National Retail Federation (NRF) reported on Wednesday, Feb. 24 that United States retail sales are expected to grow in 2021 from anywhere between 6.5 percent to 8.2 percent, with a total of more than $4.3 trillion in sales. The NRF predicts growth of retail sales due to the effectiveness of the COVID-19 vaccines over the course of the year, which will lead to stores to be frequented en masse.Many Americans were homebound in 2020 and so in turn they shifted to a …

Technology Implementation Lies at the Forefront of Multifamily Design

By Michael Procopio, vice president of development, The Procopio Cos. Undeniably, as we progress through 2021, one of the hottest trends in multifamily will continue to be technology and automation.According to the 2019 Zillow Consumer Housing Trends Report, 43 percent of Gen Z buyers and 35 percent of millennials rated smart home features as “very important.” Although Zillow’s 2019 report shows older generations are less concerned with smart technology, we know that the desire …

TD Bank: Why We Need to Address Affordable Housing Needs Now

By Gregg Gerken, Head of Commercial Real Estate for TD BankEven prior to the COVID-19 pandemic, it was a struggle to build or find affordable housing.But since the pandemic broke out, finding affordable housing may be even harder for those who now need it most. A Problem Made Worse by a Global Pandemic The lack of affordable housing was an urban, suburban and rural problem even before COVID-19. Rent-burdened families and seniors living on a budget reside in almost every small and …

Envoy Discusses Construction, Bridge Loan Lending, Future of Net Lease

Ralph Cram, president and manager of Envoy Net Lease Partners LLC, is responsible for providing strategy, marketing and investment advice on all aspects of net lease property investments. He believes 2021 will be a banner year for net lease, and that Envoy is particularly well suited when it comes to providing “one-stop shopping” for developers. How is Envoy is different from a “normal” commercial real estate finance provider? Cram: Envoy's focus is construction and bridge loan …

Valbridge: Automation Can Assist Valuation Process, But Not Replace It

The pandemic has forced the appraisal business into a surreal experience: many valuation professionals had their physical connections to the market severed or diminished. The question became: how best to assign value to the properties that appraisers are tasked with assessing especially while the demand for valuation has grown. Where does the rise of automatic valuation systems (AVSs) fit in with the valuation process?Karl Finkelstein, vice president of Business Development and senior …

Cushman & Wakefield: U.S. Office Market Outlook Begins to Show Reasons for Optimism

CHICAGO — The road ahead will be bumpy for the U.S. office sector, but there is light at the end of the tunnel, says Cushman & Wakefield. The Chicago-based commercial real estate brokerage recently published Part III of a series of snapshots entitled "U.S. Office Sector: the Road Ahead in 2021," which are focused on the economy and office trends. What follows is a synopsis of those predictions in the third segment.The path of the virus is central to the office sector recovery, asserts …

General Contractors Look Forward to Possible ‘Tsunami of Projects’ as Backlog Dissipates

With light emerging at the end of the COVID-19 tunnel thanks to the rollout of a vaccine, general contractors are confident of an uptick in business activity in 2021 following a year in which many projects were put on hold. But that optimism is clouded slightly by the high cost of materials, particularly lumber. Michael Sullivan Jr., CEO and founder of Des Plaines, Illinois-based Peak Construction Corp., says his company is prepared to absorb more of the rising costs this year than it did in …

By Reducing Occupancy Costs, Brick-and-Mortar Retailers Can Save on Property Taxes

By Morris Ellison Esq., partner, Womble Bond Dickinson LLP E-commerce was here to stay even before the pandemic devastated small businesses and placed an even greater premium on technology. In the changed landscape, lowering occupancy costs by reducing property taxes is one of the most important steps businesses can take to remain competitive. Stay-at-home orders still prevent many shoppers from visiting their favorite brick-and-mortar stores, while fear of contagion exacerbates consumers’ …

U.S. Office Rents Won’t Return to Pre-Pandemic Levels Until 2026, Says Moody’s Analytics

NEW YORK CITY — It will take at least five years for office-using companies in the United States to demand enough office space to push rents to pre-pandemic levels, with more short-term pain for office owners on the horizon, according to projections by Moody’s Analytics.The New York City-based research firm, which is a subsidiary of ratings agency Moody’s Corp. (NYSE: MCO), issued the forecast last week, punctuating its findings with an assertion that U.S. office vacancy would rise to …

Walker & Dunlop Predicts Growth for Single-Family Rental, Build-for-Rent Asset Class

The single-family rental (SFR) and build-for-rent (BFR) space is emerging as one of the strongest growth sectors in commercial real estate. While the SFR market has made up a portion of the rental market for many years, historically individual and small-scale investors have dominated the market. Institutional investors have only invested in the space for the last 10 to 12 years since the end of the Great Recession.Demand for SFR has been steadily increasing due to current demographic trends …

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