REBusinessOnline

City of Chicago Implements Vaccine Requirements for Restaurants, Bars, Gyms

CHICAGO — Chicago Mayor Lori Lightfoot has mandated that any individual 5 years of age or older will be required to show proof of full vaccination against COVID-19 in order to dine indoors, visit gyms or go to entertainment venues where food or drink are being served. The new requirement goes into effect starting Monday, Jan. 3.The initiative is in response to “an alarming rise in COVID cases both locally and nationally, driven in part by the Omicron variant,” according to the city. …

Metro Orlando Office Market Caught in Limbo Due to COVID-19, Remote Workforce

Contrary to what is often portrayed in the national media, the Orlando office market is not a monolith. It instead comprises multiple submarkets, many of which are recovering quite differently. For example, according to data from CoStar Group, Winter Park had a 4.7 percent availability rate (that’s direct and sublease space combined). The Downtown Orlando market, on the other hand, had a rate of 16.9 percent. The total Orlando MSA office availability rate was 11.5 percent, which compares to …

Does Your Property Tax Assessment Reflect COVID-19’s Long-Term Challenges?

Countless companies have seen their top and bottom lines decimated by COVID-19-related shutdowns, travel restrictions and changing consumer preferences since the start of the pandemic. Yet for many taxpayers, property tax values have changed little or even increased.Many of these taxpayers have been surprised to receive property tax bills that do not reflect the real and lingering economic challenges that the retail, hospitality, office and other industries have, are and will continue to …

Contractors Face Uncertain Materials Costs, Lull in Student Housing Activity Due to COVID-19

Rising construction materials costs have been one of the biggest stories of the pandemic era. When COVID hit, many factories ramped down production. In addition, some raw materials industries had challenges like tariffs, natural disasters and COVID-related slowdowns. When construction continued during the pandemic, supply suffered and pricing rose dramatically. This has been especially true for lumber and steel, but natural disasters in areas like Texas have even hampered the manufacturing of …

After 18 Months, Seniors Housing Operators More Adept at Handling COVID-19 Crisis, Says InterFace Panel

ATLANTA — Seniors housing operators have been grappling the past 18 months with how to maintain their properties and keep occupancy high while also protecting their staff and residents, who are the most vulnerable population for infections and death from the COVID-19 outbreak. With the rise of the Delta variant in recent weeks, owners and operators are having to make tough decisions to care for their residents, although now they have built some muscle memory on how to operate effectively amid …

Canada to Reopen Border for US Travelers

CANADA — Starting today, Monday, Aug. 9, Canada plans to begin allowing entry to American citizens and permanent residents that have been fully vaccinated at least 14 days prior to entering Canada for non-essential travel. This preliminary step enables the government of Canada to fully operationalize the adjusted border measures ahead of Sept. 7, when the government intends to open Canada’s borders to any fully vaccinated travelers.All travelers will use the ArriveCAN app or web portal …

COVID Impacts Central Oregon’s Commercial Real Estate Market

By Pat Kesgard, Compass Commercial Real Estate ServicesWhen COVID-19 hit Central Oregon in April 2020, commercial real estate transactions effectively came to a halt. Transactions were either delayed or canceled and virtually no new deals started. We were back to almost normal by the beginning of the third quarter of 2020. Miraculously, the fourth quarter was above the previous year’s activity.HospitalityThe hospitality industry suffered tremendously through the pandemic. The …

How Retail Landlords Can Create Value for Tenants in the Post-COVID World

By Jonathan Fishman, co-founder, Bizydev[caption id="attachment_296532" align="alignright" width="100"] Jonathan Fishman, Bizydev[/caption] Every business-oriented publication for the last 18 months has almost certainly churned out dozens, if not hundreds, of articles detailing how they believe COVID-19 will or has or might affect their market or industry. Real estate publications have exhaustively covered the deceleration of commercial office leasing, the population outflow in urban …

‘Power Panel’ at InterFace Event Provides Positive Outlook for Student Housing Sector Post-COVID-19

Moving toward the start of a fresh academic year, the outlook for the student housing industry keeps getting brighter. A testament to the industry’s movement out of the pandemic is taking place at the InterFace Student Housing conference in Austin, where nearly 1,300 attendees have been able to gather in-person for the first time since April 2019. This year's event, which concludes today, is taking place at the JW Marriott downtown.The student housing sector banded together like never …

Chicago Market Experiences Surge in Retail Sales as COVID Restrictions Loosen

By Chris Irwin, Colliers International As we begin to lower our masks, breathe fresh air and see smiles on everyone’s faces, there are strong signs that better than pre-COVID retail activity in Chicago is here.  With the expanded vaccine rollout, a decrease in unemployment plus the added boost of stimulus checks, the surge in retail sales in the city and surrounding areas has been measurable. The demand for retail space increased in fourth-quarter 2020 and first-quarter 2021 significantly, …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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