Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
If the past two years since the onset of the COVID-19 pandemic seemed unfathomable, the impact was equally strange for renters. A report by RentCafe shows 2021 was a highly competitive year for renters in many areas as they faced a perfect storm: high demand, low apartment availability and applicants with top-notch credit scores.
If you wondered where all the people moving out of cities’ urban cores are going, the answer is the populace has discovered suburban settings. Recent data from the Census Bureau reveals that American suburban markets are indeed expanding and have experienced a gain of 4.7 million residents between 2010 and 2019.
The success and growth of CBC Worldwide is directly correlated to its people. That talent, dedication and expertise is contributed by more than 2,000 professionals at 200 companies throughout the U.S. and internationally. Currently,140 of the brand’s brokerage professionals have earned the prestigious Certified Commercial Investment Member (CCIM) designation by the CCIM Institute including three recent inductees Michael Salik, Virginia “Ginny” Squire and Rob Thomas.
As most students resume in-person learning this fall, there are several implications for the commercial real estate market. From private schools to higher education institutions, the world of academia is turning a new page after the COVID-19 pandemic forced millions of students into virtual classrooms.
As we all know, 2020 was an incredibly challenging year. A variety of industries were greatly impacted by the changes present by the COVID-19 pandemic, commercial real estate included. For the first time, employees started working from home, meetings were hosted via zoom, and all events were cancelled. As the economy stalled, many businesses and property owners found themselves negotiating with both tenants and lenders on rent relief and loan modifications.
On April 6th, 2021, CBC Chatter launched as a virtual series focused on discussing the hottest and most relevant industry topics and trends.
Those that fled congested cities during the COVID-19 lockdowns are beginning to find their way back to luxury multifamily buildings. GDP forecasts indicate apartment occupancy rates will return to 2019 levels by the end of the year. Now, however, many people’s criteria for apartment living looks different in a post-pandemic world.
This past year, COVID-19 created a significant level of uncertainty in a wide variety of industries, especially commercial real estate. The main anxiety in the student housing sector of CRE is the pandemic’s impact on the 2020-2021 school year’s leasing opportunities. There are multiple factors that are clouding the student housing occupancy outlook including whether students will come back to campus or relocate due to online learning, if, or when, they will sign a new lease, and if they will require future “outs” or reimbursement provisions should they need to change occupancy plans in the future due to pandemic-related issues.
This is the second part in a series of insights shared by the Coldwell Banker Commercial team in collaboration with local leadership and real estate professionals from around the country. They recently gathered to discuss micro and macro market trends for the coming year. The group covered an array of asset classes, user types, and investor profiles ranging from private investors to users of all property types, and examined factors expected to drive the recovery in commercial real estate markets ahead.
You may think that communal living ends after college… but think again. Co-living is a new trend that’s growing in popularity – so if you haven’t been hearing about it yet, you likely will soon. Co-living, a living setup in which the bedrooms in a building are private but basically everything else is communal, has received a bad rap, destined for only the most adventurous of souls.