Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell Banker Commercial brand.
Amazon, Inc., considered by many to be the mall industry’s single biggest disrupter, has recently been in talks with the largest mall owner in the United States to take over space left by ailing or vacant department stores. Simon Property Group has been working with Amazon to explore the opportunity of turning some of the property group’s vacant anchor department stores into Amazon distribution hubs.
When it comes to news about the COVID-19 pandemic crisis, it seems that there has been no shortage of news regarding the food industry. First, it was masses of people stockpiling and leaving consumers without access to fresh fruit and vegetables (and we won’t even talk about the toilet paper situation), which left grocery stores struggling to keep up with never-before-seen levels of consumer demand.
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.
As many states begin setting schedules for lifting their COVID-19 related shelter in place orders, businesses across the United States are beginning to think about what that means for the business. Make no mistake about it: experts predict that the world will never be the same again after this pandemic. In many of the same ways that 9/11 shaped the ways in which the world travels, this pandemic will shape the ways in which we work.
In a matter of weeks one of the most common and pleasant activities we have enjoyed for decades came to a screeching halt. The Coronavirus has devastated the restaurant industry in a way that none of us anticipated. Businesses have closed, curtailing their income streams and employment. Restaurants have contracted with their lenders and landlords based on an economic model that will likely no longer exist. And we as diners have been deprived of a fundamental activity of our daily lives.
Read the original article on GlobeSt.com.
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.
CRE makes up the physical spaces where business happens.
The retail go-to-market approach continues to evolve. We frequently read about retailers growing, contracting or re-inventing their multichannel sales approach. While the second industrial revolution lasted from 1850 to 1914, it seems the current retail revolution is happening at lightning speed.
Growing up in a small town on the East Coast, the corner service station was a refuge where the neighborhood kids could congregate and chat over an ice-cold Coke. Our parents trusted the mechanics, the attendants filled their tanks, and everyone knew each other’s names. Fast forward to today, and small filling stations have all but disappeared, replaced by large chains, some of which boast cult-like followings. Service bays have been replaced by convenience stores, fast food chains, and even roadside stops that more closely resemble department stores.