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Regional Summaries

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Norfolk, VA

Apartment
Norfolk's apartment market vacancy rate has been low with little change since 2016. The rate for the first quarter of 2019 was 4.6%, down 20 basis points for the period following a flat overall performance through 2018. At $1,073 and $1,030 per month, respective asking and effective averages for the first quarter were unchanged and down 0.6% for the period following increases of 3.6% and 3.2% all told last year. VIEW APARTMENT LISTINGS >
Office
First quarter 2019 vacancy in the Norfolk general purpose, multi-tenant office market was 17.3%, up 10 basis points from a quarter earlier after a loss of 40 through 2018. At $20.20 psf and $16.67 psf, respective average asking and effective rates for first quarter 2019 were up 0.3% each for the period following increases of 1.0% and 1.3% all told last year. VIEW OFFICE LISTINGS >
Retail
The first quarter 2019 Norfolk community-neighborhood shopping center market vacancy rate was 12.0%, down from 12.1% at year-end 2018, which was unchanged from 2017-following a gain of 170 basis points that year. At $16.26 psf and $13.56 psf, respective first quarter average asking and effective rents were up 0.4% each for the period following gains of 1.4% and 1.5% in 2018. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

CBC Blue Book

CBC Blue Book

The CBC organization is proud to present its’ 2018 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the CBC organization from all over the world.

Market Report: Retail Repurposing

Market Report: Retail Repurposing

Up to 80 percent of Americans do at least some shopping online. As Americans shift the way they shop, retailers that have not adapted to the changing environment are closing their doors, with the list of failing brand names growing each year.

Market Report: Student Housing

Market Report: Student Housing

Healthy demand and numerous shifts in student housing trends have transformed the property sector. Once overlooked by investors for fear of poorly maintained properties and high turnover, this asset class has become resilient, boasting handsome returns.

CBC Infographics

Shopping In-store vs. Online Shopping

Shopping In-store vs. Online Shopping

The retail industry is in the midst of epic change and while some predict the end of brick and mortar stores, a recent Coldwell Banker Commercial Affiliates survey conducted online by Harris Poll aimed to explore current shopper preferences and trends to determine the real state of commercial real estate today.

Commercial Real Estate & Technology: The Generational Divide

Commercial Real Estate & Technology: The Generational Divide

Infographic that addresses how each generation sees aspects like the adoption, use and importance of technology. Ultimately, each generations’ concerns come down to the impact that new technology will have on the industry.

The Growing Value of Digital Tools

The Growing Value of Digital Tools

Which digital tools do commercial real estate professionals value most, and what devices are they using to access them, and how are these professionals’ technology habits likely to change in the years to come?

Workers Prefer Dynamic and Efficient Office Space

Workers Prefer Dynamic and Efficient Office Space

As employers seek to define the workplace perks most likely to attract and retain employees, a recent Coldwell Banker Commercial Affiliates survey found that the physical office itself could keep staff happier.

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