Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
MADISON, N.J. (March 30, 2023) – Coldwell Banker Commercial®, an Anywhere (NYSE: HOUS) brand, announced its 2022 award recipients across numerous Coldwell Banker Commercial leadership categories at this year’s annual Global Conference held in Chicago.
HOUSTON (March 30, 2023) – Coldwell Banker Realty is pleased to announce that it has facilitated the lease for 5636 Richmond Avenue in Houston, which will be opened as the newest location for Views Bar and Grill. The 10-year lease has an estimated gross value of $3.5 million. The 8,700 square-foot retail space is located in Houston’s Galleria shopping district.
CANOGA PARK/CHATSWORTH, CALIF. (March 27, 2023) – Coldwell Banker Commercial Quality Properties is pleased to announce that it represented both the buyer and seller in the sale of an approximately 48,550 square-foot, multi-tenant industrial property located in the communities of Chatsworth and Canoga Park, Los Angeles.
As we discussed in part 1 of our Adaptive Reuse Deep Dive, this trend is understandably becoming more and more desirable for cities and developers alike. In part 2, we are outlining the appeal of adaptive reuse for developers, the environmental and economic benefits and the way it better serves the community compared to new construction and gentrification.
Adaptive reuse in commercial real estate refers to the process of redeveloping a building or property type into a new property, typically to meet higher demand in that sector. Adaptive reuse apartments have recently become a popular subject of discussion, as US office sales continue to sink. Over the past few decades, vacant offices buildings have been redeveloped into residential buildings, offering for-sale condominiums or rental apartments.
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!
Innovators, pathfinders, leaders are all words that describe Coldwell Banker Commercial’s global network of more than 3,000 valued professionals. Since 1906, Coldwell Banker Commercial has been at the industry forefront, creating a dynamic in which everyone is able to excel and succeed. This mutually beneficial relationship continues to grow and evolve as Coldwell Banker Commercial remains dedicated to their professionals and clients through the launch of new tools, technologies and opportunities for both networking and education.
NEW YORK (March 1, 2023) – Coldwell Banker Reliable Real Estate is pleased to announce that Karen Dome, a real estate industry leader with more than 25 years of experience serving New York City’s commercial and residential markets, has affiliated with the company.
While we are not officially in a recession, inflation is surging and real wage growth is negative. Despite two open jobs for every one unemployed person, a shortage of labor is weighing down the U.S. economy today; labor is the critical issue above all else because you can’t grow despite demand if you can’t find workers to run the shop. This has culminated in slowing down CRE activity and uneven consumer spending across most of the U.S. during 3Q 2022. And now, bank lending has paused as the Fed’s steep and frequent rate hike changes have made it very difficult to price a loan.