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Jul 11, 2023

In Case You Missed It: June Recap

On this June edition of ICYMI, we kickoff Summer by highlighting additional exposure for CBC across the CRE landscape, recap new podcast episodes, celebrate a few recent brokers wins and more!

Jul 5, 2023

The Impact of Climate Change on Insurance Costs & Real Estate

There have been constant warnings of severe weather conditions, natural disaster footage on the news, and a growing number of weather-related property losses, throughout the years. In fact, the U.S. has sustained 348 weather and climate disasters since 1980 where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2023). The total cost of these 348 events exceeds $2.5 trillion, according to research by the National Centers for Environmental Information. The real impact of climate-related events can be felt in every aspect of the real estate market, including rising insurance costs, prices, and major declines in popularity amongst specific regions. Higher temperatures lead to more extreme weather conditions and an increase in large-scale catastrophes, like massive hurricanes, wildfires, storms, and flooding. Understandably, the costs and conditions of properties are becoming more difficult to manage and thus, putting more pressure on the real estate market on a yearly basis. Furthermore, the number of weather-related catastrophes in the US is growing consistently. In 2022 alone, there were 18 natural disasters in the U.S. that resulted in at least $1 billion in total economic loss. According to Yardi Matrix, insured natural disasters topped $100 billion since 2017 – meaning that insurers’ models are not likely able to keep pace with the growing frequency and severity of catastrophes because of climate change. The cost of repairing properties from weather-related events and the increase in construction costs due to inflation, labor, and supply-chain chains, to name a few, are important factors to consider, as well. Insurance Rates in High-Risk States States like Florida and Texas are considered high climate-risk states because they are constantly hit the hardest by storms, hurricanes, freezing temperatures, and so on. Insurance rates are increasing across the nation, but some insurers in high-risk states are increasing rates by 45-100% or avoiding the area altogether. According to research by Yardi Matrix, not only are insurance costs increasing overall, but insurers are covering less wind limit on replacement costs with large increases in deductibles, new exclusions for damages such as mold or flood endorsements, and limits on payouts. Climate Change & Its Impact on Property Owners As explained by Forbes, temperature increases also have a direct impact on the costs of managing a rental property. It's projected that more tenants will rely on electricity to run fans and AC systems to stay cool. Coupled with a significant increase in water usage, these trends place a higher burden on the electrical grid and city resources. It’s important for property owners to note that they will pay an increased cost for those utilities along with their tenants. The more demand for these resources, the more expensive they become. The rising costs to insure properties is another factor contributing to potential delinquencies. When insurance is inexpensive there’s less burden for an owner, but as rates escalate, it can create hardships for some owners. Some in the industry are seeking reform of insurance requirements by lenders, while other solutions may involve the industry utilizing modeled loss since using a risk model basis rather than insured value would likely benefit property owners. Ultimately, it requires property owners to manage the costs of business while keeping an eye on the weather.

Coldwell Banker Commercial Top 2-Elite Event

Jun 27, 2023

Ro-cham-beau: The 2023 Elite Top Two Event Recap

Who would have thought Newport, Rhode Island, Rock-Paper-Scissors, and leadership would have so much in common? That’s where Rochambeau comes in.First, Marshal Jean-Baptiste Donatien de Vimeur, comte de Rochambeau, landed in Newport, Rhode Island during the Revolutionary War and marched with his troops to meet with General George Washington and the Marquis de Lafayette to help win the Independence of the United States. Ro-Sham-Bo happens to be another name for the famed game “Rock-Paper-Scissor,” as Rochambeau allegedly played the game during the American Revolutionary War. It was a fitting game Josh Best, director of learning for Coldwell Banker Commercial, to have our Top Two professionals and Elite company leaders play as both a team-building exercise and a way to better acquaint everyone with each other. This year, we hosted 18 first-timers, and the most Top Two women in our recorded history! The event kicked off with a welcome reception at the historic Hotel Viking located atop downtown Newport’s Historic Hill neighborhood that opened almost a century ago. This is where old friends greeted each other, and newcomers received a warm welcome. The day included a quick history of Newport followed by words from Dan Spiegel, senior vice president and managing director of Coldwell Banker Commercial, as well as team-building, networking, and Leadership Workshop Part 1 sessions. The afternoon was reserved for our network members and their guests to join smaller group activities that gave them a feel for Newport and allowed for deeper connections to be made. We began the second day with new CBCWorldwide.com website updates and a sneak peek of some new functionality soon to come. Then, we had a continuation of the learning workshops. Even after the sessions concluded our top brokers continued learning from each other and building connections. After an afternoon that allowed our guests the opportunity to explore beautiful Newport a bit more, we celebrated all of their success with an incredible reception at the International Tennis Hall of Fame, where they preserve and promote the history of tennis and celebrate its champions. A perfect place to celebrate our champions. While we finalize the next picture-perfect location, it was apparent that this trip was inspiring, where we heard many saying they need to close a few more deals to ensure they come back next year.

Jun 21, 2023

The Most In-Demand Cities in the US

Renting has bloomed as a preferred option over buying due to soaring home prices and the start of the spring season, leading to a surge in apartment seekers. The CBC team is taking a closer look at which cities are experiencing the most rental activity and capturing the attention of potential renters. Last month, Atlanta emerged as the most desirable city for renters, followed by Kansas City, MO, and Albuquerque, NM, according to research by RentCafe. These cities witnessed significant engagement and interest in regard to apartment listings, with a high number of rentals being saved as favorites, personalized searches being conducted and overall elevated listing views.These three cities share common attributes that contribute to their appeal. They provide a balanced combination of affordability, employment opportunities, and entertainment choices that attract a wide range of renters. Detroit has made its mark ranking as fourth on the list of Most In-Demand Cities in the U.S., demonstrating signs of revitalization and growth. Lastly, Manhattan maintains its position as a perennial favorite among renters, despite the high cost of living, securing the fifth spot in the rankings.Atlanta is Hot Amongst RentersIn April, Atlanta emerged as the most coveted city among renters, experiencing a remarkable level of rental activity on RentCafe.com. Potential renters in Atlanta displayed a notable increase in interest, as they added twice as many listings to their favorites compared to the previous year. Moreover, rental listings in Atlanta attracted substantial traffic and recorded high rates of saved searches on RentCafe.com, propelling this city to the pinnacle of the rankings. Atlanta offers a multitude of job opportunities, with numerous companies expanding or relocating there. In fact, Atlanta secured the eighth position nationwide for office leasing activity in 2022, reflecting its growing prominence. Additionally, Atlanta has consistently established itself as one of the top tech towns in the country in recent years, further enhancing its appeal to renters.Kansas Popularity is GrowingKansas City secured the second position among the most sought-after cities in April for renting on RentCafe.com. KCMO experienced a remarkable surge, climbing an impressive 27 spots from the previous month's ranking. This significant jump is due to renters favoriting listings six times more than the previous year, while the number of page views for Kansas City listings ranks among the highest in the United States. Moreover, potential renters in Kansas City exhibited an 87% increase in personalized searches on RentCafe.com compared to one year ago. Renters are drawn to Kansas City due to its more affordable housing options and cost of living in comparison to other cities. Like Atlanta, the presence of enticing new tech job opportunities also adds to its appeal.New Mexico Climbing the Ranks  Albuquerque, New Mexico, secured the third spot as one of the most sought-after rental locations in April, demonstrating a vibrant and active rental market. The number of rental listings in Albuquerque that were added to favorites experienced a notable increase, seven times higher compared to the previous year. Additionally, there was a significant surge in listing views, with a 66% increase compared to one year ago, marking the highest growth among all the cities included in RentCafe’s research. The rising popularity of the area propelled Albuquerque to climb an impressive 19 positions in the top 30 rankings within one month. There are multiple factors that attract potential renters, including the plethora of readily available outdoor activities and the thriving entertainment industry. As we discussed throughout the article, potential renters were most drawn to housing options in Atlanta, Kansas City, and New Mexico last month. We saw Alburquerque, New Mexico, and Kansas City climb the ranks as a top US cities for rental activity in April. Now that we’ve taken a closer look at these different cities and their various appealing factors for renters, are you surprised at the top 3 spots?

Jun 20, 2023

Experienced Broker Keren Mizrahi Affiliates with Coldwell Banker Commercial Realty In Sarasota

SARASOTA, FLA. (June 16, 2023) – Coldwell Banker Commercial Realty is pleased to announce that esteemed broker Keren Mizrahi has affiliated with the company, serving its clients in the Sarasota area. With a successful track record spanning over a decade, Mizrahi has been assisting commercial real estate investors on the west coast of Florida since 2010. Her extensive expertise and comprehensive understanding of the market have earned her a stellar reputation as a trusted advisor. Throughout her career, Mizrahi has effectively represented buyers, sellers, tenants, and landlords in a wide range of domestic and international transactions. Her unparalleled knowledge and firsthand experience in managing her own investments have equipped her with the skills to handle even the most complex real estate deals. Born and raised in Jerusalem, Israel, Mizrahi served in the Israeli Defense Army as a combat soldier. She brings a unique multicultural perspective to her work and is fluent in both Hebrew and English, allowing her to serve clients from diverse backgrounds. In her free time, Mizrahi prioritizes her family and actively engages in the local community. As a dedicated mother of three, she has a vested interest in the success of the local school systems and passionately supports youth competitive sports, as well as YMCA training. Mizrahi's exceptional qualifications and commitment to professionalism are reflected in her impressive education and designations. She holds a bachelor’s degree in communications and business management from the College of Management Studies in Israel. Additionally, she is a Certified Commercial Investment Member (CCIM) and holds designations as an Accredited Commercial Professional and Short Sales and Foreclosure Specialist. Mizrahi is an active member of prominent industry organizations such as the Commercial Real Estate Alliance, Florida CCIM Chapter - West Coast District, REALTOR® Association of Sarasota and Manatee, the National Association of REALTORS®, and the North Port Area Chamber of Commerce. As a commercial broker associate, Mizrahi specializes in various investment opportunities within the Sarasota area. Her areas of expertise include office spaces, investment properties, medical facilities, and multifamily properties. Mizrahi's unparalleled market knowledge, combined with her dedication to achieving clients' goals, make her an invaluable asset to the Coldwell Banker Commercial Realty team. To get in touch with Keren Mizrahi and benefit from her expertise, please contact her at 941.726.3816 or via email at keren.mizrahi@cbrealty.com. About Coldwell Banker Commercial AffiliatesColdwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition, and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com. Media Contact: Kevin GuhlEmail: kevin.guhl@cbhomeoffice.com  Phone: 973.407.5916

Jun 15, 2023

The Impact of Travel Trends on Hotel Commercial Real Estate

Host Dan Spiegel, SVP and managing director of Coldwell Banker Commercial, is joined by Sean Hehir, Managing Partner, President & CEO at Trinity Investments, to discuss how hotels are responding to trends such as "bleisure", remote/hybrid work, and corporate travel. Dan and Sean will discuss how hotels that are adaptive have survived and thrived as travel trends have changed and how properties can better serve the current market.

6522-6528 Laurel Canyon Blvd - A single-story, 10,192 square-foot single-tenant NNN retail property

Jun 13, 2023

Coldwell Banker Commercial Realty Represented Both Sides of $3.3M Retail Building Sale in North Hollywood

NORTH HOLLYWOOD, CALIF. (June 12, 2023) – Coldwell Banker Commercial Realty is pleased to announce that it represented both the buyer and the seller in the $3.3 million sale of a single-story, 10,192 square-foot single-tenant NNN retail property on 0.29 acres of land at 6522-6528 Laurel Canyon Blvd. in North Hollywood. Eric Sackler, a broker associate with Coldwell Banker Commercial Realty, represented the seller of the “Shoe City” property - a family who has owned the property for more than 50 years. According to Sackler, his three-week marketing period generated 16 offers and closed escrow with an all-cash offer five weeks later. “The tenant is paying below-market rent in an expanding market with only three years left on their lease, providing the buyer an opportunity to either occupy the building themselves or re-tenant it at much higher rents,” said Sackler. “This is a high-traffic corridor of Laurel Canyon in the city of North Hollywood, surrounded by retailers such as Target, Smart & Final, Ross, and Burlington.” About Coldwell Banker Commercial AffiliatesColdwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com. ###Media Contact: Kevin GuhlEmail:  kevin.guhl@cbhomeoffice.com Phone: 973-407-591

Jun 6, 2023

In Case You Missed It: May Recap

On this May ICYMI episode, we celebrate some of Coldwell Banker Commercial professionals on their accomplishments, we share new learning initiatives, recap a productive ICSC event and much more!

May 18, 2023

The Metro Boston Group Expands Reach Into Greater Boston Neighborhoods and South Shore Markets

BOSTON (May 17, 2023) – The Metro Boston Group, a leading real estate firm, is proud to announce the expansion of its commercial sales services into the Greater Boston neighborhoods and South Shore markets. This expansion comes in response to recent successes and client demand for a greater presence in these areas. To lead this expansion, Karim Evans has been appointed as commercial sales advisor. With his wealth of experience in investment acquisition, sales, leasing and asset management, Evans is well-suited to support local businesses and help The Metro Boston Group target the highest and best-use potential of its clients. “Our efforts are dedicated to assisting small to mid-size clients who are often overlooked by larger national and regional real estate companies. Traditionally, these are non-institutional owners, investors, family-owned trusts with generational assets, and developers who are searching for the full level of service they deserve,” said Albert Bouchie, broker advisor of The Metro Boston Group at Coldwell Banker Commercial. “Karim's skills and commitment to building thriving local economies align perfectly with our goal of serving Main Street-Down the Street commercial property owners and investors and helping them reach their full potential.”Evans will be responsible for expanding The Metro Boston Group’s brand awareness by leveraging his extensive market knowledge and client base. He is committed to generating long-term capital appreciation for his clients’ investment portfolios and is always available to answer any questions about the commercial real estate market."We are excited to have Karim on board as our commercial sales advisor,” said Bouchie. “His personal interest in supporting local businesses and dedication to customer service make him a valuable asset to our team.” For more information about The Metro Boston Group's commercial sales services, please contact Karim Evans at (857) 763-7771 or karim.evans@cbrealty.com. For more information about The Metro Boston Group, please visit www.cbcboston.com.About Coldwell Banker Commercial AffiliatesColdwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com. ###

May 9, 2023

Perfecting Your Presentation Through Storytelling & Structure

On this episode, we're joined by Deborah Shames, Communication and Presentation Trainer, Keynote Speaker, Author, and CEO of Eloqui. Deborah uses her experience directing over sixty award-winning films to make her business clients more genuine, effective, and successful. It doesn’t matter whether they are delivering a keynote address, speaking to a Board of Directors, or pitching for new business. She co-wrote 3 books on communication and public speaking, including the business best-seller "Own the Room." And because Deborah ran a successful film company in Sausalito, CA for fourteen years, she knows how difficult it is for women to stand out and succeed. Her latest book she wrote is "Out Front: How Women Can Become Engaging, Memorable and Fearless Speakers."