Home Blog Page 3

Amherst Appoints David Schwarz as Head of Commercial Real Estate Strategies | State

AUSTIN, Texas, September 7, 2021 / PRNewswire / – The Amherst Group (and its subsidiaries and affiliates, “Amherst“or” the Company “), a vertically integrated real estate investment, development and operation company, has appointed David Schwarz like Head of commercial real estate strategies. Schwarz will lead the expansion of Amherst the commercial real estate activity (“CRE”) by further developing the existing credit activity and by exploiting Amherst cutting-edge expertise to launch new products and business segments in both real estate debt and equity. In addition, he will manage the company’s open-ended debt fund, Commercial Real Estate Senior Transitional Loan Fund LP. Schwarz joins Amherst of Colony Capital Inc. (now DigitalBridge Group Inc.), most recently as Managing Director and Head of Colony’s extensive hospitality platform.

“We have great ambitions to Amherst, and a key element in diversifying our platform and achieving our goals is to expand our commercial real estate footprint ”, commented Sean dobson, CEO of Amherst. “With a strong track record of performance, a core CRE team with long experience and a wide range of strategic partners, the company is poised for significant expansion. David’s leadership abilities and extensive experience in investment strategies will help us catalyze this next important growth phase for Amherst and our stakeholders. “

Schwarz brings to Amherst extensive investment experience in commercial real estate. During his ten-year tenure at Colony Capital, Schwarz oversaw all functions of the hospitality business, including acquisitions and portfolio management of 245 properties. Previously at Colony, Schwarz led investment activities for the company’s series of opportunistic credit funds focused on distressed real estate opportunities. Earlier in his career, Schwarz was a director at Warburg Pincus and previously worked for the Carlyle Group.

“I’m incredibly excited to join a fast growing platform and help guide Amherst developments within the commercial real estate industry, ”said Schwarz.Amherst is committed to expanding into new businesses beyond its existing residential and credit platforms and has proven its ability to implement innovative strategies. Market developments create new opportunities across the real estate landscape, and Amherst vertically integrated platform will allow it to capitalize on these opportunities and offer differentiated investment solutions to its investors and partners. “

Amherst The commercial real estate lending strategy creates first mortgages on transitional properties in the office, retail, multi-family, industrial, mixed-use and hotel sectors. Amherst The vertically integrated platform is driven by a regulated credit process, quantitative modeling and a seasoned investment team with extensive experience in research, underwriting, closing and managing all loan assets. throughout the different market cycles.

On Amherst

Amherst mission is to transform the way real estate is owned, funded and managed. Amherst leverages its proprietary data, analytics, technology and decades of experience to research solutions for a fragmented and slow-moving real estate ecosystem and to dramatically improve the experience for residents, buyers, sellers, communities and investors. Today Amherst has more than 900 employees and $ 10.9 billion in assets under management. *

Over the past decade, Amherst has evolved its platform to become one of the leading providers of high quality, affordable single family homes in dozens of communities across United States. Built on a long tradition of working with residents to promote housing stability, Amherst has acquired and leased more than 40,000 homes, renovated more than 34,000 homes and manages existing leases in 28 markets (30 cities) in United States. The company offers its investors personalized, stabilized, cash-flow asset portfolios wrapped in the ongoing services needed to manage, own and finance the asset, including property management, portfolio management and a full team. capital markets. In addition to its single-family rental platform, Amherst the debt industry pursues two distinct lending strategies: a portfolio of mortgage-backed securities and a commercial real estate portfolio focused on transitional loans. During its 27 years of history, Amherst has developed a broad spectrum of research and technology talent and leverages data and analytics at every stage of the asset lifecycle to improve operations, preserve long-term value for investors, and deliver a superior experience to over 181,000 residents the company served.

*Dated June 30, 2021

View original content to download multimedia: https://www.prnewswire.com/news-releases/amherst-names-david-schwarz-to-lead-commercial-real-estate-strategies-301370549.html

SOURCE Amherst Group

Source link

The Commercial Real Estate Landscape in 2021: Upward Trends to Expect

Publication displays: 968

The events of 2020 have changed many industries, including commercial real estate. The real estate industry, in general, is not the same as it used to be. From buyers to sellers, the dynamics and aspects are very different.

For commercial real estate (CRE), 2021 is the year of recovery. It may start slowly, but there is always a chance it will speed up this year. The economic impact of the pandemic is the main variable of most new and accepted developments for CRE.

Since it will take some time before things get back to normal, the best thing you can do is stay on top of things by absorbing new information. You can take advantage of this year to keep abreast of what is to come for the CRE sector. This article will give you an overview of the current landscape of CRE by listing the upward trends to be expected in 2021.

More investment in offices

While people will continue to work from home, opportunities will open up for investors who need commercial offices in the CRE market. While there are still vacancies in high traffic areas, business owners looking to expand will take advantage. This is because many of them looking to grow their businesses will be thinking about planning for their post-pandemic needs.

This means CRE owners should consider businesses looking for affordable office space this year. Once that is more secure, businesses will most likely hire and return their employees to the office, and they will need a place where they can do so safely. It is better to familiarize yourself with the methods of valuing commercial real estate if you want to sell your CRE in the near future.

The momentum of digital transformation will persist

Due to the pandemic, most companies have shifted their workforce to a work from home environment. This change has led to an increase in the use of technology for most sectors, including CRE.

For this reason, many CRE companies have been exposed to their lack of preparation to move to a new work environment and a new routine. In addition, the sudden change revealed gaps in the capacities of the CRE sector. This year, CRE companies will try to respond to these challenges by pushing for digital transformation.

CRE companies will focus on improving the digitization of the tenant experience and other key CRE processes. These processes include virtual tours of properties for buyers and online communication with tenants. More and more CRE companies will use and leverage tenant data and analytics to further enhance their digital transformation.

The continued rise of e-commerce

Retail stores and third-party logistics providers have benefited from the change in consumer behavior forced by the pandemic last year. Both parties will seek to resolve any issues related to order processing by increasing the number of order fulfillment centers. Industrial CRE owners will benefit because this trend is expected to continue this year.

Many online stores will need to at least rent a warehouse, especially growing ones. Those who can afford to buy one will do so once they see it optimal. There is also an expected increase in facilities that prioritize dealing with supply shortages that many companies have encountered in 2020.

Financial prudence

As mentioned earlier, the recovery of the CRE sector will be slow. Financially, it is still a turbulent period for CRE owners, especially those who own shopping centers and office spaces. This means that these owners will remain cautious about spending and investing over the next 12 months.

Rent cuts are also expected, which will vary by region. These events will encourage CRE companies to reconsider their assessment and valuation of their assets. They will identify those who are performing better than the others and decide what steps to take to move forward without incurring significant financial losses.

Closing thoughts

These trends paint you a picture of what the CRE landscape will look like this year. Expect other trends to come to life as the year progresses and try to follow them. Observe and adjust accordingly, and you will be able to achieve your goals for this year in the CRE sector.

Source link

Jennifer Lopez’s mother appears in Ben Affleck’s game commercial – Music News

Jennifer Lopez’s mother, Guadalupe ‘Lupe’ Rodríguez, makes a cameo appearance in Ben Affleck’s new betting commercial.

The 49-year-old recently did the commercial for WynnBET, a new sports betting app, and also plays in the promo, walking around the casino at the Wynn Complex in Las Vegas, observing various players and taking betting suggestions. .

As Affleck passes, Rodríguez risks all of his money on two slots at once, applauding his promising winnings.

“Come on, Lupe! she shouts in the middle of the two-minute commercial. “You can do that, my daughter, just like the slot machines in Saint-Louis!” “

According to the New York Post, the ad was shot in June when the two were spotted at the Wynn complex. Worthy of the role, Lopez has described her mother in the past as a “great gamer” who has already won $ 2.4million (£ 1.7million) at an Atlantic City casino.

While the singer was not seen on the set of the commercial, E! News reported at the time that the reunited couple “loved to play together and had done so in the past,” and Affleck was excited to get into the project. The ad also features appearances by basketball legend Shaquille O’Neal and comedian Melvin Gregg.

Affleck and Lopez, who were previously engaged between 2002 and 2004, reunited earlier this year after she split from baseball star Alex Rodriguez.

The Good Will Hunting star was recently spotted shopping for rings at Tiffany & Co. with his mother and son Samuel, sparking rumors he was considering proposing. Last month, the couple are said to have looked at homes in Los Angeles together.

Source link

In the Numbers: Commercial Real Estate Sales in Tyler | Business

Commercial real estate sales in Tyler varied considerably depending on the type of sale and the location of the site. Types of sales included: three convenience stores, one office space, one restaurant, three warehouses, three multi-family complexes and the rest being general commercial. There is a slight increase in commercial real estate activity around the intersection of Highway 69 North and Highway 20 as well as the 323 East Loop between Highway 64 and Highway 31.

Seventy-six percent of sales in July were sold with improvements on the property, at an average price per square foot of $ 98.53. The lowest selling price was recorded at $ 175,000 and the highest at $ 2,500,000. The average building occupancy rate was around 87% with an average capitalization rate of 5.7%. The capitalization rate is the return on a commercial good as a function of the income produced. In the Tyler Marketplace, there are currently 127 commercial sales listings in the market with a total value of $ 86,978,250.00.

The commercial real estate market is strong in Tyler. This is a great opportunity for individuals and businesses to invest in our city and to continue our strong growth. Contact our office today to learn more about how to get involved in the Tyler Market and the surrounding area.

This article does not purport to cover all properties sold within the Town of Tyler. Item information is derived from verified selling price data from CoStar, GTAR, CREXI and other commercial real estate sources.

(For more on how to get involved in the commercial real estate market in Tyler and surrounding areas, Scarborough Commercial Real Estate, LLC, 903.707.8560 or on the web at www.scarboroughcre.com).

Recent stories you may have missed

Source link

COVID pandemic has sparked commercial real estate boom, investing becomes safer option for buyers

August 30, 2021 13:32 STI

Gurugram (Haryana) [India], Aug. 30 (ANI / NewsView): The unprecedented pandemic has rocked the world, and the industrial economy has been hit hardest.
Experts and market watchers had predicted a decline in the commercial real estate sector after the impact of COVID-19.
In contrast, all of these predictions appear to turn out to be wrong, as the commercial real estate market has experienced a positive rebound after the COVID-19 pandemic. Urban Plus, a growth-driven real estate company, has proven it by completing more than 600 successful post-pandemic transactions in just one year.
After the setback of the pandemic, people had lost their main businesses and lost confidence to invest more money in their own work, but soon quite a V-shaped recovery and people began to realize the value of second sources of income, passive income and the best options came out were in commercial real estate which gives you guaranteed returns much better than fixed deposits and mutual funds and moreover a satisfaction of ownership of physical assets is much higher than virtual sources of investment.
The commercial real estate market has become one of the safest investments for everyone and commercial real estate has given more appreciation than residential investments.

The market is growing rapidly and companies like Urban Plus have rewarded investors with a great return on their investment. The experts of the Urban Plus team support buyers and investors throughout the process of buying a property.
Screening properties and identifying needs are often a daunting task for new investors, and Urban Plus offers the entire process in one place. The team made the buying process simple, reliable and easy to deal with property issues for everyone.
Rahul Setia, Managing Director of Urban Plus, with over 12 years of real estate knowledge and real estate expert, helps clients with his vast experience in making the right investments with the right developers at the right time. Commenting on the future opportunities in the market for new investors, Setia said: “I have found this company with a lot of struggle and passion, I can assure you that this is just the beginning of the market boom. commercial real estate, especially in Gurugram area and there will be a boom in the market in the years to come. “
“Our goal is to help our clients make the right investment decisions and we thrive on the happiness we see on their faces. We try to exceed our clients’ expectations by understanding their needs and offering the best competitive prices available. in the market in properties located in areas with high growth potential, ”added Setia.
Recently, Urban Plus started working on its new office which will be Gurugram’s largest real estate office measuring 16,000 square feet with enough space for over 150 employees and creating a bigger and better experience for all existing and new clients. Urban Plus.
This story is provided by NewsView. ANI will not be responsible for the content of this article in any way. (ANI / NewsView)

Source link

Commercial real estate will recover sooner rather than later: REIT analyst

Rich Anderson, SMBC Analyst Nikko Securities America REIT joins Yahoo Finance Live with an overview of the state of the real estate industry amid the Covid-19 pandemic, plans to return to the office and the impact of interest rates on the REIT market.

Video transcript


MYLES UDLAND: All right, welcome to “Yahoo Finance Live” this Tuesday morning. We’ve talked a lot about the prospects for the real estate space, particularly the single-family home space. But let’s expand and think of the whole area as one space and go back to the office, multi-family. You have all kinds of other distributions, warehouses, that fit in there.

Rich Anderson, Senior REIT Analyst at SMBC Nikko Securities America, joins us now to talk about all of this. Rich, thank you very much for hopping on it this morning. I want to start with getting back to the office and how you envision how the office space will be used, because as you point out in your notes, we saw a major transition to the office 15 or 20 years ago. years, cabins to a more open floor plan.

As you talk to people and think about it, what does this physical use of space look like? And does this lead to businesses needing less space? Or will those fingerprints, in your opinion, somehow stay the same?

RICH ANDERSON: This is an excellent question. And thank you for having me. Office space, over the past 20+ years, has always been on a sort of evolutionary path. As you mentioned, cabins to open floor plans. And to some extent, we’re now going to have a hybrid desktop element in the aftermath of the pandemic.

That’s a question, will that mean less or more demand for office space? And it’s kind of TBD. But the way we think about it is you might need some social distancing within the four walls of the office. This could therefore compensate for part of the lack of demand. But I think the company is going to trade on the office takeover, increased counting of occupied space as we sort of navigate this wave of the Delta variant.

And I don’t think the office landing point is going to be savagely dismantled in relation to the pre-pandemic. I think it will look pretty much like it was before, with a hybrid element that we integrated that looks a bit like a WeWork runtime with shared desktops and things like that.

It will therefore be interesting, evolving. And the question will not be answered for many years.

JULIE HYMAN: Rich, it’s Julie here. However, it seems impossible to imagine that there will be no less, right? I mean, sort of at one point in the pandemic, there was talk about the migration of offices to the suburbs, just like people had been doing. But every day we report companies that are becoming hybrids to some extent for a portion of their workforce.

So just looking at this anecdote, “anec-data” for lack of a better word, it seems impossible to think that there won’t be less office space overall needed.

RICH ANDERSON: Law. So over the years, office activity, in terms of density, has grown from about 250 square feet per employee to about 150 square feet per employee. And so that would naturally mean less office demand. And yet, as if by magic, it didn’t really happen.

And so you have different executions on how the office space is used. And it can be easy to imagine less demand for space. And that could be true to some extent five years from now. But I don’t think that as a stock market analyst I’m so worried about where the office demand will land and ideas of what one might imagine today.

I think there is going to be a recovery in the use of space today. There will be a hybrid desktop element. And that’s something we’ll find out as we go. And if we don’t get back to full demand before the pandemic, maybe a conversation for another day.

From a REIT perspective, this is about the recovery right now. And it’s about getting people back to the office.

It’s an interesting thing, crowded stadiums, crowded restaurants, and yet no one goes to the office. What a great social world for all of us these days. But I don’t think it’s very durable. So I’m saying we’ll be back in the office as soon as possible to a greater degree than people imagine right now.

BRIAN SOZZI: Rich, we could very easily get a tapering from the Fed soon which would push interest rates up. What impact will this have on the fundamentals of these highly leveraged REIT companies?

RICH ANDERSON: Well, I wouldn’t call them highly leveraged REIT firms. In fact, I would call REITs – the balance sheets are pretty strong. The interest rate concern is more, in my opinion, with the dividend component of the REIT vehicle. And so, as interest rates rise, the value of the dividend yield decreases.

And so there will be, if that were to happen, some type of hiccup, depending on the asset class. There are asset classes such as multi-family that rely less on dividend yield and more on a total return story, while other asset classes like healthcare and net rental are essentially vehicles. of income and less some sort of story of total return on reinvestment in business. .

And so in 2013, when we had the tantrum type, healthcare REITs and net rental REITs significantly underperformed, and others didn’t hurt so bad. I would expect a similar reaction this time around as long as, as you describe, something like this happens.

JULIE HYMAN: And Rich, you mentioned the multi-family. And the last time you were with us last year, you talked about how you thought the multi-family would recover. He eventually recovered. So what happens now for the multifamily?

RICH ANDERSON: It’s funny. The hybrid office model is really a good thing for the multi-family. And you’re right, we were down 30%, 40% last year when we spoke. And we were pushing the multi-family. And these stocks are up this year by more than 40%.

The call therefore worked. The question is, what kind of sustainability do we have on this call. And we think it will continue. One of the reasons is because of the hybrid desktop. Now no longer, you can’t move from New York to Nebraska and still have a job. You need to be close to the office if a hybrid model is intact. So that means people are getting closer to cities. And that should be good for the multi-family business.

Likewise, universities are reopening, also disproportionately benefiting gateway markets. And so I think the hybrid desktop model, however it works in the longer run for the desktop, we’ll see. This is certainly a good thing for the multi-family business.

MYLES UDLAND: All right, we’ll stop there. Rich Andersaon, Senior Analyst at SMBC Nikko Securities. Rich, appreciate the time this morning.

Source link

commercial real estate: 68% of investors interested in commercial real estate in the 36-60 age group

Bangalore, Pune and Mumbai have emerged as the top cities for future fractional commercial real estate investments, according to a survey by MYRE Capital, a fractional ownership platform based on neo-real estate technology.

Chartered accountants and lawyers show the maximum relative interest in investments in fractional ownership of commercial real estate, while other segments of the investor and user base include physicians, health professionals. IT, entrepreneurs and other business owners.

These investors prefer fixed income options backed by hard assets and have started to appreciate the favorable risk-return profile of fractional CRE and the end-to-end management provided by fractional ownership platforms.

“Fractional investing has been around for a long time in India, but in an unorganized way. Even now, investors are limiting themselves to residential real estate as their only investment choice and we want them to know CRE as an effective avenue, ”said MYRE Capital Founder and CEO Aryaman Vir.

The survey was conducted by collecting responses from over 1,500 registered high-priced users and investors.

According to the survey, 68% of investors interested in Commercial Real Estate (CRE) are in the 36-60 age group. 15% of interested investors are between 25 and 35 years old, while 17% of interested investors belong to the age group above 60 years.

“The most common challenges such as large ticket sizes, operational tasks, long and complicated documentation, lack of expertise and trust are addressed by our platform to make it a more inclusive asset class and accessible, ”Vir said.

Although investors aged 60 and over have traditionally been opposed to alternative investments, the trend is changing. CRE allows these investors to earn a regular monthly inflow backed by guarantees with the probability of an additional benefit from the annual capital appreciation achieved over time. This allows investors to realize additional gains at the time of exit due to capital appreciation.

The survey highlights some key needs and changes required by investors in the traditional form of investing in CRE, such as easier access to opportunities (33%), increased transparency (20%), data symmetry (21%), and streamlining of processes (24%). Fractional Ownership Platforms are addressing these issues to bring more trust and transparency to the Indian CRE market.

“We believe that with the implementation of regulations, investors will be more comfortable trusting CREs and will be able to derive excellent returns on promising real estate opportunities in the country,” he added. .

The report also states that investors’ investment preferences vary with age. Young investors have an appetite for high risk and high return and are ready to geographically diversify their real estate investments.

Older investors prefer a low risk investment option with a stable fixed income backed by collateral as many of them are retired and do not have a regular source of income. CRE is a unique asset class because it meets the needs of both segments. Individuals looking for a stable fixed income source can achieve relatively high returns through monthly rental income.

Since fractional ownership opportunities are secured by a hard underlying asset, the risk profile fits well with the goals of conservative investors. Such opportunities are also preferred by young investors looking for double-digit annualized returns – taking into account annual capital appreciation, these investors can earn 17% -25% IRR without having to compromise on their exposure to the market. risk.

As demographics in India move towards a more equitable distribution of the sexes, CRE has observed an increased participation of women investors. The survey reveals that of all the people questioned, 41% were users and investors. This gender distribution is relatively more equitable than most investment avenues.

The survey shows that cities are growing in popularity among other key markets. Bangalore takes the lead with 27% of investors showing interest in fractional ownership, followed by 21% interested in Pune real estate. The survey also identifies that India is seen as an emerging market for investment by the NRI community with almost a third of respondents coming from countries like the United States, United Arab Emirates, United Kingdom, Denmark, Nigeria and Australia, among others.

Source link

Commercial Mortgages: Much of Commercial Real Estate Continues to Rise Despite Delta Variant | Economic news

Led Zeppelin probably wasn’t talking about economic forecasters in “Dazed and Confused,” a song the rock band made famous on their 1969 debut album, but the track aptly describes the dark science of today.

During the pandemic, it was clear that the new curve in COVID-19 cases would dictate the response of the economy. As the vaccine reduced the number of new cases, the economy came back to life. There have been clear lockdown winners and clear losers.

For real estate investors, the big winners were owners of industrial buildings and, in many markets, apartments. Businesses and hotels were clearly the losers, and office buildings were stuck in a sort of purgatory.

As fears of a pandemic began to fade, consumers began to spend heavily on experiences, dining out, and travel. The obvious beneficiaries were hotel owners and retail businesses. Office building owners continued to envision a return to normal, with Zoom trending downward and encountering in-person and hybrid models on the rise.

Now the curve is back with the rapid spread of the more contagious delta variant of the coronavirus. Besides Nebraska, every state in the country has a “high” or “substantial” level of community transmission, according to the US Centers for Disease Control and Prevention.

Retail sales fell in July and consumer confidence weakened. The Federal Reserve is trying to calm the markets by telling everyone that inflation will be transient, but a new playbook is being written every day.

Source link

Commercial real estate summit to examine hot topics in Oklahoma

Movies, Marijuana, and McGirt are three great reasons this year’s Commercial Real Estate Summit will be another great one.

Not to mention the advent of single-family neighborhoods built for rental.

And the changes in property management brought on by COVID-19.

All of them are hot topics in real estate.

The summit, hosted by the Central Oklahoma Commercial Association of Real Estate, will be held from 8:30 a.m. to 5 p.m. on September 14 in Edmond at the University of Central Oklahoma Nigh Center, with keynote speakers for breakfast and lunch and guest speakers. educational tracks all day.

The organizers are working again with David Chapman, associate professor of real estate at UCO, and the UCO real estate program to benefit the UCO Real Estate Foundation scholarship. A to Z Inspection is the presenting sponsor.

Register for the summit at https://2021cresummit.eventbrite.com/.

“We’ve created a promo code that you can share with your readers for $ 25 off their ticket: MIZEISWISE,” organizers said. I’m blushing. For more details, visit www.cresummit.org.

Here are some of the presenters and topics:

• “The Growing Film Industry and Its Impact on Real Estate” – a growing need for infrastructure – will be presented by Yousef Kazemi, Director of Broadcasting and Production for the Oklahoma Film and Music Office.

• “Valuation of Cannabis Grow Facilities” will be presented by Darin Dalbom, President of NPVal Commercial Real Estate Valuation.

• “The McGirt Decision and Its Impact on Real Estate” will be presented by Ryan Leonard, partner at the law firm Edinger, Leonard & Blakeley.

The United States Supreme Court ruled last year that Congress never removed the Muscogee reservation. Lower courts later ruled that the Cherokee, Chickasaw, Choctaw, and Seminole reservations still existed, meaning that criminal prosecutions involving Native Americans in the Indian country lie with either the federal government or the tribes.

• “Multi-Family Projects Built for Single-Family Rental” will be presented by Chapman, who will present the pros and cons of single-family rental communities that many developers are now building rather than apartments.

• COVID-19 will be discussed in “Changing Building Management and Tenant Requirements,” presented by Rob Roberts with First Onsite, a property restoration and reconstruction company.

• A course on Per- and Polyfluoroalkyl Substances (PFAS), a group of chemicals manufactured in the United States since the 1940s that do not break down over time, will be presented by Mike Fitter, Geologist, Environmental and Operations Consultant of the Tulsa branch director of Seneca Cos.

• “The Use of Oklahoma School Land Trust Properties in Commercial Developments” will be presented by John Fisher, Director of Commercial Real Estate for the Land Office Commissioners.

• “Low Income Housing Tax Credits” will be presented by Darrell Beavers with the Oklahoma Housing Finance Agency.

• “The Evaluation of LIHTC (Low-Income Housing Tax Credit) Developments” will be presented by Chip Ard with JLL Valuation.

• “Oklahoma County Evaluator Education Keynote for Evaluators” will be presented by Oklahoma County Evaluator Larry Stein, who will explain how to use search, mapping and other site functions. Evaluator’s Web.

• “Oklahoma Highway Update” will be presented by Joe Echelle, Deputy Director of the Oklahoma Turnpike Authority.

Real estate editor Richard Mize edits the Oklahoman Real Estate section and covers housing, construction, commercial real estate, and related topics for the newspaper and Oklahoman.com. Contact him at [email protected]

Source link

The Continuing Impact of COVID on Commercial Real Estate

How the pandemic continues to affect the real estate market. Businesses that own office buildings and hotels, or those that lease space to bars, restaurants and other retailers have been the hardest hit area of ​​commercial real estate, as the pandemic has forced many businesses to be closed temporarily or to operate on a limited basis.

Commercial real estate trends may take longer to recover as businesses reassess their needs after the pandemic. We spoke to Danny Court, director and senior economist of Elliot D. Pollack & Company.

It explains why and what is impacted the most. He said more people were leaving spaces than signing in new places. They see a lot of vacancies. He said they are even close to 20 percent.

Working from home is here to stay, so they think it will be a hybrid come in person at home. He said they will likely see more space for employees. He said just before the pandemic they were seeing very, very crowded office spaces.

Nowadays, some areas may not be at the top of people’s lists such as gyms and fitness areas. He told us it’s too early to tell with much of this.

We looked at the retail area. He said they’ve been struggling for a while now because people buy things from home.

He said retailers are being pushed to industrial markets and warehouses instead of physical spaces. The court also said that retailers were not investing in new locations as in the past. Arizona has a “pretty strong retail market here.” he said.

We talked about solutions and what a good balance is for those areas. He said it is important to introduce residential areas to help commercial areas.

We are also talking about this area has changed for good. He thinks so and that a lot of formats are here to stay.

Source link