Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
Before the COVID-19 pandemic hit, millions of workers were scattered throughout thousands of buildings and towers across the United States. Now, as cities attempt to reopen and get back to business as usual, many organizations are deciding it’s likely that not all of their employees will return to those buildings – now or ever.
If you’ve spent any time in the real estate industry at all, you’ve likely heard all about smart technology and how it is being incorporated into today’s multifamily housing. From smart locks and smart lockers to smart lights and smart speakers, today’s smart home technologies seem endless — and they’re improving the rental experience for both tenants and property managers. But how?
It’s hard to turn on the television or scroll through your newsfeed today without hearing or reading something about COVID-19. COVID-19 is a respiratory disease that is caused by the SARS-CoV-2 virus. The recent COVID-19 outbreak and its massive spread throughout the world have affected nearly all aspects of our daily lives, including travel, tourism, trade, food supplies, financial markets, and the workplace.
For the past several years, the multifamily industry has catered to the wants and needs of the Millennial generation, thinking of them as they update their community or add new amenities. When Millennials wanted to move into downtown urban markets, the multifamily industry responded by renovating empty warehouses and building high rises. When they said they wanted open-concept spaces, developers knocked down walls and gave them more light. And when they said they wanted to feel like they were living in an upscale hotel, multifamily developers upped their game in the amenities department, too.
For any given resident, lease renewal may be an annual event; however, for management and staff, retaining residents should be a top priority all year long. One of the best ways to retain residents is to keep them engaged. Creating an environment residents love and one where they want to live is about more than having fresh cookies or drinks set out in the leasing office. Rather, it is about nurturing those individual relationships throughout the year to create an inviting space that residents enjoy coming home to each day.
Rural landscapes are changing, and those changes are impacting commercial real estate. Living in a rural community has its own set of unique issues, obstacles and benefits when it comes to commercial real estate. The secret is diversification, according to Ben Bates, broker/owner of Coldwell Banker Ben Bates.
2020 marks the start of a new year and, perhaps more excitingly, a new decade. And while economic and real estate cycles do not revolve around the calendar year – aside from any actions resulting from changes in calendar year tax policy – it is still a great time to reflect on what real estate decisions were successful and which may require rethinking in the year(s) ahead.
The global hospitality game is changing fast. As the hotel scene is striving to provide guests with transformative experiences, CRE is paying attention to these 6 hot trends. Keep an eye out for these upcoming hotel evolutions:
The 24/7 sushi bar at Google, nap rooms at Huffington Post, and cold brew coffee on tap at a local startup company — these features are becoming more and more common in workplaces around the world. Not only are these amenities on trend, but they also aim to increase employee satisfaction and creativity.
It’s likely that you’ve read about, heard about, or encountered the word — PropTech. These days, PropTech is one of the biggest buzzwords in commercial real estate. But, how much do you actually know about PropTech? In this article, we’re going to dive into what PropTech really is, along with the relevant information about the term.