Viewpoints

Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell Banker Commercial brand.

Article 71 - 80 of 650
Aug 22, 2023

Best Places for Renters to Live in 2023

The primary contributor to the increasing cost of living for Americans are expenses associated with rent and mortgages, making it important to consider which cities offer the powerful combination of affordability and quality of life in 2023. It’s important to factor in a city’s apartment quality; local economy; employment opportunities, living expenses, traffic; schools, air quality, and natural amenities when making the difficult decision to plant roots in a new place. New data by RentCafe highlights where people living in the U.S. can get the most out of their renting experience in 2023. According to RentCafe, Southern states are the premier region for renters, claiming an impressive 36 out of the top 50 spots. This includes renowned rental hotspots like Miami and Orlando, FL, as well as lesser-known markets such as Plano, TX; Asheville, NC; and Birmingham, AL. Renters in this region have the luxury of choosing between the vibrant ambiance of a major city or the enchantment of a charming small town. Charleston, SC takes the No. 1 spot for Best Places to Live in 2023Charleston, South Carolina, the largest and oldest city in the state, secures the top spot in this year's ranking of the best cities for renters. This accolade is attributed to its optimal combination of apartment quality and cost of living, which ranks as the third-best in the country. Additionally, Charleston earns a commendable score in the local economy category. Notably, the city has gained recognition as a burgeoning tech hub with over 250 tech companies, positioning it fifth in terms of the local economy.Renters in Charleston can enjoy a suburban feel that offers the advantages of residing in a major city without compromising on factors like air quality or access to natural amenities. The data reveals that nearly half of the households in Charleston are occupied by renters. Furthermore, the average size of apartments in Charleston is significantly larger than the national average, measuring approximately 967 square feet. With a robust job growth rate of 5.9%, it is no surprise that Charleston claims the title of the best city for renters in 2023.Plano, Texas rises to the top in 2nd place Claiming the second spot on RentCafe’s list, Plano has recently gained recognition as the "City of Excellence." It garners high rankings in two key areas: the local economy, where it secures the second position, and quality of life, where it ranks sixth. Plano's distinguished reputation for fostering academic success makes it an ideal destination for families seeking a city with exceptional public schools. Furthermore, the city boasts excellent air quality and a significant proportion of high-end apartments, accounting for 78.2% of the housing stock. Additionally, Plano serves as the headquarters for several major corporations, including Bank of America, Hewlett Packard, FedEx, JCPenney, and Pepsi. Consequently, it exhibits one of the highest job growth rates nationwide, further enhancing its appeal.The Top 10 Places to Live in 2023 For commercial real estate investors, understanding the dynamics of the rental market and the best cities for renters in 2023 is crucial. With the rising cost of living, particularly in terms of rent and mortgages, it becomes essential to identify cities that offer a compelling blend of affordability and quality of life. As RentCafe's data shows, Southern states have emerged as the premier region for renters, occupying the majority of the top 50 spots. This presents a compelling case study for commercial real estate investors looking to tap into rental markets with strong potential.

Aug 17, 2023

Atlanta's Jelani Linder Honored As Top Commercial Agent by National Association of Real Estate Brokers

ATLANTA (Aug, 17, 2023) – Coldwell Banker Commercial is pleased to congratulate Jelani Linder, a broker affiliated with Coldwell Banker Commercial Metro Brokers in Atlanta, for being named “Top Commercial Agent” by the National Association of Real Estate Brokers (NAREB) on its inaugural Top 100 Awards list. Linder was one of 16 Coldwell Banker agents and managers celebrated for their contributions to the real estate industry at NAREB’s 75th annual convention in Houston. Together, these recognized professionals contributed to a staggering $1.8 billion-plus in transactions in 2022. Linder specializes in land brokerage and investment sales and has been working to shape the future of urban development in the Metro Atlanta Region. He is licensed in Georgia, Florida, and Tennessee. With nearly a decade of real estate experience, Linder has been the top producer at Coldwell Banker Commercial Metro Brokers since 2019, following his consistent placement in the top 10% in preceding years. In both 2021 and 2022, Linder ranked among the top 2% nationally for production at Coldwell Banker Commercial. He holds a master's degree in urban planning from the University of Georgia and serves on the planning and zoning committee for the City of Stone Mountain.  Additionally, Linder co-chairs a non-profit organization focused on driving economic development in Stone Mountain Village. He is an esteemed member of the Atlanta Commercial Board of Realtors, the CCIM (Certified Commercial Investment Member) organization, and the Urban Land Institute. NAREB is dedicated to enhancing the business conditions of it NAREB® Realtist® members by strengthening the consumer capacity of Black, minority, and emerging target market segments that Realtists® serve. Coldwell Banker is the first sponsor to curate courses for NAREB members to bolster the organization’s career development programs. “It was an honor to attend the 75th annual NAREB conference, where I was able to connect with so many members and learn from their expertise. NAREB is at the forefront of driving diversity and fair housing in real estate. Our many affiliated agents recognized in their Top 100 Awards should be very proud of their achievements as industry champions and outstanding real estate experts. Coldwell Banker is a proud sponsor of this organization and we look forward to expanding our relationship with them,” said Liz Gehringer, president and CEO of Anywhere Franchise Brands, and acting president of affiliate business and COO of Coldwell Banker Real Estate LLC. About Coldwell Banker Commercial AffiliatesColdwell Banker Commercial Metro Brokers, 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 Guhlkevin.guhl@cbhomeoffice.com 
973-407-5916

Aug 15, 2023

From Farm to Byte: The Convergence of Technology and Agriculture Real Estate

Late last year, the New York Times reported farmland values hit record highs. In 2022, cropland values increased by 12.4% nationwide, and Farmers National Company set a new record sales volume of $766 million, exceeding the previous record in 2021 of $750 million. While many asset classes in commercial real estate have weakened amidst the current economic instability, agriculture acreage is rising in demand among investors. And due to its finite availability, returns are expected to grow rapidly.In tandem with the post-pandemic economic conditions, the advent of new technologies shifted the way many farmers manage their land, in turn impacting the commercial real estate sector.Rise of Precision TechnologyOne of the most significant developments in recent years has been the use of precision agriculture technology. The global precision agriculture market is anticipated to expand at a compound annual growth rate (CAGR) of 13.40% between 2023-2028. This technology involves the use of sensors and other tools to collect data on soil, weather, and other factors that affect crop growth. Farmers can use this information to make more informed decisions about planting, fertilizing, and watering their crops. The result is more efficient and effective farming practices, leading to higher crop yields and greater profits.The use of precision agriculture technology has also led to changes in the way farmers manage their land. By collecting detailed data on soil quality, for example, farmers can identify areas of their fields that require more nutrients or water. This enables them to use these resources more efficiently, reducing the amount of land needed to produce the same amount of food – which can have major implications for land values and real estate activity.Use of DronesAnother significant development in agriculture technology is the use of drones, which are rising in use across commercial and small family-owned farms. Farmers can use drones with cameras and other sensors to monitor crop growth and identify areas needing attention. This technology allows farmers to identify problems early, such as pests or diseases, before they can spread and cause damage. It also enables farmers to assess the health of their crops more quickly and accurately, reducing the risk of crop loss.The use of drones has also had an impact on the real estate industry. With the ability to monitor crop growth more effectively, farmers can identify areas of their land that are not producing as well as they should be. This information can be used to make more informed decisions about whether to sell or lease the land, potentially leading to higher profits for the farmer and increased demand for real estate in the area.Artificial Intelligence’s ImpactThe use of artificial intelligence (AI) in agriculture is another area poised to significantly impact the industry. AI can be used to analyze vast amounts of data, including weather patterns, soil quality, and crop yields, to make predictions about future crop growth. This information can be used by farmers to make more informed decisions about planting and harvesting, reducing the risk of crop loss and increasing yields. Other possible applications of the technology may include the optimization of labor, early detection of pests and diseases, and better compliance with irrigation and fertilization regulations, per Forbes.The use of AI in agriculture also has the potential to lead to changes in the real estate industry. By providing more accurate predictions about crop yields and weather patterns, farmers can make better-informed decisions about land use. This could lead to an increase in demand for land that is suitable for certain types of crops, potentially leading to higher prices for real estate in these areas.Agriculture has been a critical sector of the economy for centuries, providing food and resources for human populations worldwide. Recent advancements in AgTech are significantly impacting the industry and demand for farmland, which experts believe isn’t changing anytime soon. According to Bloomberg, the rising values are believed to be part of “a decade-long trend.”

Aug 14, 2023

Coldwell Banker Commercial Evergreen Olympic Realty Welcomes Terry Wilson and Spencer Ingrim

Olympia, Washington: Coldwell Banker Commercial Evergreen Olympic Realty, Inc, is pleased to welcome two exceptional and experienced commercial real estate brokers to its team - Terry Wilson and Spencer Ingrim. Each has a long history of expertly guiding clients to the most successful outcomes with their commercial real estate needs, including sales, purchases, and leasing of office, industrial, retail, and multifamily properties. Terry Wilson has a unique background that has provided him with a solid balanced perspective of business challenges and needs. In addition to many years as a real estate broker, he has been a business owner, a VP at a publicly traded company, and a state government employee. Terry understands that business people want timely, accurate communication and they want information and data that is precise and professionally presented. Spencer Ingrim has a diverse background in commercial real estate having worked at two regional brokerages on the west coast. His experience overseeing and managing property operations of 11 retail shopping centers totaling 2.8 million square feet in California has provided him with unique and critical insights into the needs of both tenants and property owners. More recently, Spencer has focused on the commercial retail market in the Puget Sound region, specializing in real estate development, redevelopment, project management, budgeting, and commercial management of retail shopping centers. They join a group of some of the most experienced brokers in Thurston County, including Debbie Draper-Aikins, who herself has decades of experience expertly advising clients with their commercial real estate. The addition of Terry and Spencer further strengthens the firm’s collaborative service offerings to its many clients and the area’s business and property owners. About Coldwell Banker Commercial Evergreen Olympic Realty, Inc. This Olympia, Washington-based real estate company is the county’s longest-established, locally-owned real estate firm. The firm was established in 1968 and has been a market leader in both commercial and residential sales across the region. A second-generation, family-run business, everyone at the firm prides themselves on a client-first approach that starts with the best local knowledge and deepest understanding of the real estate sales and leasing processes.

Aug 9, 2023

Beyond the Brick & Mortar: Leadership Lessons from CBC Board of Advisors Member, Molly Hamrick

Welcome to our “Beyond the Bricks and Mortar” series. We will explore global real estate and leadership concepts with local experts from our network to better understand trends, opportunities, and the psychology of CRE.

Aug 8, 2023

In Case You Missed It: July Recap

In the July ICYMI we highlight a new partnership with Compstak, celebrate our recent CRE Win Graduates and share details on the next semester, discuss our involvement with the upcoming C5 & CCIM conference, new marketing releases and more!

Aug 7, 2023

Coldwell Banker Island Properties Launches New Commercial Real Estate Division

Kihei, HI – August 3, 2023 - Coldwell Banker Island Properties, a renowned leader in Hawaii's residential real estate sector, is thrilled to announce the launch of its new commercial real estate division. With this expansion, the company broadens its services to include commercial real estate sales and commercial property management.This move underscores Coldwell Banker Island Properties' commitment to holistic real estate solutions, effectively serving the needs of clients across both residential and commercial spheres. The new commercial division will provide comprehensive services, helping clients to buy, sell, lease, and manage commercial properties throughout the Hawaiian Islands."Coldwell Banker Island Properties has always been committed to providing unmatched real estate services in the Hawaiian region," said Steve Houle, President of Coldwell Banker Island Properties. "This new expansion into commercial real estate will allow us to serve our clients' diverse needs even more effectively. Whether it's a local business seeking new premises, an investor looking for commercial opportunities, or a property owner in need of reliable management services, our new division is poised to deliver exceptional service."The commercial division's team will leverage its vast knowledge and experience to assist clients in navigating the complexities of commercial real estate, providing valuable insights on market trends and opportunities. The new division is led by commercial real estate veterans Brian Yano and Chris Millen who both joined Coldwell Banker Island Properties from JLL.As Vice President and Managing Director, Yano has been instrumental in the launch of the commercial division. In this role, he will lead property, project, and facilities management services statewide. Previously Yano held positions with JLL, A&B Properties, CBRE, Colliers, and Maui Memorial Medical Center.Leading commercial sales and leasing will be Chris Millen, CCIM, who serves as Vice President. In this position, Chris will oversee commercial sales and leasing across the Hawaiian Islands. Chris's notable career highlights include significant investment sales and projects such as 505 Front Street, Kukui Mall, Coco Palms Resort, Fairway Shops, and Napili Plaza, which reflect his strong command of the Hawaiian commercial real estate market.With the launch of its commercial division, Coldwell Banker Island Properties completes a key component in its robust real estate ecosystem which already includes residential sales, property management, and vacation rental management. By offering a seamless experience in all aspects of real estate, clients continue to benefit from the company’s reputation for integrity, customer service, and deep local knowledge."We look forward to the new opportunities that our commercial division will bring," said Steve Houle. "With our innovative approach, vast network, and commitment to excellence, we will continue to shape the future of the Hawaiian real estate market."              About Coldwell Banker Island PropertiesSince 1995, Coldwell Banker Island Properties has provided our clients with exceptional real estate services from start to finish. This commitment to excellence has propelled us to become the #1 real estate brokerage across Maui, Hawaii Island, and Kauai. Backed by an international reach, integrated marketing, and the latest market data, we strive to help our lifelong clients make the most informed real estate decisions possible. The brokerage is comprised of nearly 600 agents in 14 offices across Hawaii. In 2022, the brokerage closed 2,359 transactions totaling $2.3 billion.###

Aug 2, 2023

June Rental Activity: Midwest States are In-Demand

As home prices soar and the rental season reaches its peak, the desire to rent has become increasingly prominent, reflected in a surge in demand for apartments. According to RentCafe's research, certain cities are experiencing a significant uptick in listing activity and attracting considerable attention from prospective apartment hunters. June experienced a shift in popularity among renters, with the Midwest emerging as the most sought-after region, closely followed by the South. Notably, the South secures the highest number of spots in the June ranking, with a total of 12 cities. The Midwest closely trails with 10 cities, dominating the top four positions. Atlanta maintains its status as the highest-ranking city in the South for the third consecutive month, securing the seventh spot overall.Among these cities, Kansas City, MO, retains its position as the most desired city by renters in June, maintaining the top spot from the previous month. Overland Park, KS, located nearby, claims the second position, while Minneapolis ranks third. These cities experienced the highest engagement on RentCafe.com, as evidenced by the significant number of rental properties saved to favorites, personalized searches, limited availability of units, and overall high listing views.Nearly half of June's most sought-after top 30 cities are located in the South after six new locations in the region entered RentCafe's ranking. For example, North Carolina tech hub Charlotte made it to the 20th spot, while neighboring college town Greensboro is this month’s 30th most in-demand city for renters. Kansas City Takes the No. 1 Spot for JuneKansas City maintains a consistent reputation as a top-tier destination for living in the United States. This distinction is substantiated by various factors, including its expanding population, an abundance of employment opportunities, affordable cost of living, and a plethora of enjoyable activities to partake in. Additionally, residing in Kansas City grants convenient access to arguably the finest barbecue culinary experiences available. Additionally, Overland Park, the largest suburb of Kansas City, achieved a remarkable ascent in this month's rankings, climbing an impressive 78 spots to secure the second position. In June, Overland Park maintained a similar number of available apartments compared to the previous year. However, renters displayed a significant increase in engagement, with a 27% rise in listing views and a substantial 63% increase in saved personalized searches. Notably, the number of favorited apartments in the city experienced an astonishing nine-fold surge in comparison. For commercial real estate investors, this presents an opportunity to explore investment prospects in Kansas City and Overland Park's rental markets The significant climb in rankings and increased renter interest highlight the potential for strong returns on investment. Furthermore, the stable availability of apartments in the area, combined with the heightened renter engagement, suggests a healthy market with a strong demand-supply dynamic.

Jul 26, 2023

Coldwell Banker Commercial Lewis Realty Group Closes Sale Of 93-Plus-Acre C4-Zoned Property In El Paso, Texas

EL PASO, TEXAS (July 25, 2023) – Coldwell Banker Commercial Lewis Realty Group is pleased to announce that it recently completed the sale of a 93.308-acre property located at the southeast corner of Zaragoza Rd. and Montana Ave. in El Paso, Texas. The listing price of the property was $24,386,000. “It was a pleasure to represent the seller, River Oaks Properties, Ltd., and the buyer, Wagner Equipment Company, in the sale of this prime property in a desirable location of El Paso,” said Tommy Lewis, principal of Coldwell Banker Commercial Lewis Realty Group. The 93-plus acre parcel is zoned C4 for commercial development. The buyer, Wagner Equipment Company, is headquartered in Aurora, Colorado. About Coldwell Banker Commercial AffiliatesColdwell Banker Commercial Lewis Realty Group, 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 Guhl, kevin.guhl@cbhomeoffice.com 973-407-5916

Jul 26, 2023

Coldwell Banker Commercial Realty Represented Both Sides Of $3.25m Mixed-Use Sturcke Building Sale In Westfield, N.J.

WESTFIELD, N.J. (July 25, 2023) – Coldwell Banker Commercial Realty is pleased to announce that it represented both the buyer and the seller in the $3.25 million sale of the Sturcke building, a 14,630 square-foot, mixed-use structure offering five retail units and 13 second-floor offices. The building is located at 107-115 Quimby Street in downtown Westfield. Douglas Feigel, broker associate with Coldwell Banker Commercial Realty, represented the buyer, Ralph Rapuano, Jr., a local investor who plans to continue the legacy of the building and its use as income-producing, tenanted commercial units. The seller is undisclosed. The one-year listing was under contract in 11 months. “I was happy to work with trusted clients on both sides of the transaction,” said Feigel. “The original property owners constructed and then operated the Sturcke building for decades, followed by the latest seller who were hands-on landlords for more than three decades. Most of the tenants are local to the area and look forward to meeting the new owner. Ralph takes pride in knowing the deal is complete and expects to be hands-on like the previous ownership for many years into the future.” 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 Guhl, kevin.guhl@cbhomeoffice.com973-407-5916

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