REBusinessOnline

New York City Must Be A Leader in Reimagining Retail in the Post-Pandemic World

By James Nelson, principal, head of Tri-State investment sales, Avison Young It probably won’t be a shock to learn that in the aftermath of COVID-19, we are going to need to reimagine retail. Even before the pandemic hit, retail vacancy was becoming more prevalent throughout New York City. Now more than ever, landlords and retailers are going to need to think outside the box to fill vacancies and allow retailers to survive. A recent survey among members of the International Council of …

Baltimore’s Stable Apartment Market Attracts New, Returning Buyers

Consistent with much of the nation, the Mid-Atlantic region locked down at the onset of the COVID-19 pandemic in March 2020. However, by late August 2020 and throughout the first quarter of 2021, activity in the multifamily asset class picked up considerably.As operations stabilized and investors could better determine valuations, regional transaction volume quickly heated up as investors returned with pent-up demand. Aided in part by the continued government stimulus and rent regulation in …

RGV Industrial Market Maintains Steady Growth, Draws Investors’ Attention

By Daniel Galvan, SIOR, principal, Coldwell Banker Commercial RGV The Rio Grande Valley (RGV) industrial market continues to be very active despite a small, temporary slowdown due to the COVID-19 pandemic. With single-digit vacancy rates in both Hidalgo and Cameron counties, absorption is holding at a steady pace as available space has declined. To that point, the market saw approximately 250,000 square feet of net absorption in 2020. Rents have also continued to increase modestly with …

Industrial Leasing Activity Outpaces New Construction in Denver

By Tyler Smith, Managing Director, Cushman & WakefieldWhile the office and retail sectors in Denver continue to grapple with pandemic-related disruptions, the industrial sector remained the dominant performer within the commercial real estate market through the early part of 2021.The Denver industrial market recorded more than 718,000 square feet of positive net absorption, and nearly 3.8 million square feet of leasing activity during the first quarter of 2021. However, with …

South Central Wisconsin’s Economic Engine Continues to Set the Pace

By William Mears, Coldwell Banker Commercial McGuire Mears & Associates What a difference a decade makes. While some may characterize the evolution of the development and investment climate of the Janesville-Beloit, Wisconsin metropolitan statistical area (MSA) with a population of 160,120 as an extreme makeover, others will note the area has been South Central Wisconsin’s best kept secret. Case in point: the numbers speak for themselves, and local real estate and economic development …

Affordability, Jobs Drive Multifamily Residents to the High Desert

By Bob Basen, Executive Vice President, Coldwell Banker Commercial Real Estate SolutionsThe High Desert’s multifamily market remained surprisingly strong during the pandemic. Historic low vacancies in the High Desert apartment market, combined with low cap rates in Los Angeles and Orange counties, have made this market a favorite for “down the hill” investors. With the exception of three substantial multifamily projects in Hesperia, there has been no real apartment development in the …

New York City Industrial Market Held Strong in 2020, Has Promising 2021 Ahead

By Jakub Nowak, senior vice president investments, Marcus & Millichap Last year’s COVID-19 lockdown took a major toll on parts of New York City’s real estate market. The city’s industrial sector, however, fared relatively well compared with other asset classes. Although dollar volume for outright industrial sales transactions over $1 million fell by almost 25 percent from $1.75 billion in 2019 to $1.35 billion in 2020, the average price per square foot over the same period held flat …

RGV Retail Market Displays Creativity, Resourcefulness in Response to Pandemic

By Lupita Gutierrez-Garza, principal, and Christian Gutierrez, senior associate, Southern Commercial Real Estate Group The impacts of COVID-19 on the retail sector in the Rio Grande Valley (RGV) have mirrored those of the rest of the country. However, the way the region responded was different from the way it addressed past crises, such as natural disasters, and even very different from past responses to local problems like peso devaluations and drug cartel activity along the …

Baltimore’s Industrial Market is Stronger Than Ever, And There’s More to Come

Baltimore’s industrial market has been flourishing for years, but current trends suggest it may be poised to become one of the hottest markets in the United States over the next few years. Supporting these dynamics will be continued growth in e-commerce, a new emphasis by manufacturers and retailers on expanding their “safety stock” in warehouses and increasing land constraints in the Mid-Atlantic. The confluence of these trends is expected to drive average Baltimore industrial rents at …

Tenant-Focused Approaches Fuel Leasing Growth Within New Jersey’s Suburban Office Markets

By Mark Meisner, president and founder, The Birch GroupFor many years, corporations have been rethinking their office space utilization, both in terms of square footage per employee and various configurations that allow employees to collaborate and thrive within office settings. As we look ahead to the return to the office, we are already hearing that corporate culture, the sharing of ideas and training of new hires have become driving forces in getting people back into the workplace.At …

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