Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell Banker Commercial brand.
You’ve just won a listing for a commercial property — congratulations! Now, the real work of commercial real estate marketing begins. The task of selling or leasing a commercial property for the highest price can be challenging, to say the least. Even in a hot market, it’s essential to use the latest strategies and techniques to keep your client happy and to gain recognition in an often-saturated market.
The retail landscape has been changing for quite some time with the largest impact coming from online retailers and more purchases being made on the internet. In fact, in just the 3 years between 2010 and 2013 the number of store visits dropped from 34 billion visits to 17.6 billion visits according to Elite Wealth Management.
The retail sector has seen some dramatic shifts in the past years as technology and the presence of online shopping continues to evolve and grow. Technology and online shopping has even driven some strictly brick and mortar retailers like Borders to go out of business.
Annually, Forbes releases its top cities for job growth and it is a comprehensive list of which locations in the United States are seeing the more growth. Not surprisingly in 2016 California continues to dominate the list as the Silicon Valley area continues to grow as technology companies continue to develop and grow even larger. Forbes looks at job growth and creation whether it be short, medium or long term back to 2004 and considers the momentum that job growth has seen to determine the ranking.
You’ve seen the signs. In most every city in the country, a new type of fitness facility has been cropping up offering specialized services. The boutique fitness concept is a major trend, and has an impact on the CRE market.
Retail construction is leading all other property types, growing nearly 25% in 2015 over the previous year. The hard-hit retail sector is coming around, and a large portion of the building going on in retail is renovation rather than new construction. This trend is expected to continue, with estimates for retail construction growth coming in at 9% (120msf) for 2016. The added value will be about 10% ($20 billion).