Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
For the battered retail sector, 2021 seems to have good things in-store. Just recently, the National Retail Federation issued a revised forecast for the year, anticipating that retail sales will now grow between 10.5% and 13.5% as the economy accelerates its pace of recovery.
Daniel Spiegel was joined by Founding Partner of Mr. Cannabis Law, Dustin Robinson Esq. CPA, and Coldwell Banker Commercial NRT’s Rick Locchead to share insights, intel, and best practices when approaching a deal in the cannabis space. Jackie Bryant, San Diego based cannabis journalist, moderated the conversation.
While the Western states mature from the early green rush, cannabis legalization is surging on the Eastern part of the country as states look for economic recovery in the wake of the pandemic. While local laws vary, medical marijuana is legal in 36 states and recreationally allowed in 17 states.
While the pandemic accelerated trends in retail, it upended the strong momentum in the office and hospitality sectors and urban markets. These trends will likely continue in 2021 and reshape what buyers, owners, tenants, and residents may ultimately want to occupy.
Those collective insights are shared in this second of a three-part series that highlights which asset classes performed well, which ones struggled, and what adjustments commercial real estate investors, owners, and managers are making to navigate the challenges.
Amazon, Inc. 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 their vacant anchor department stores into distribution hubs.
Regarding news about the COVID-19 pandemic, there seems to have been no shortage of news regarding the food industry. First, masses of people stockpiled, leaving consumers without access to fresh fruit and vegetables, which left grocery stores struggling to keep up with never-before-seen levels of consumer demand.
To continue to operate businesses responsibly and reduce the impact of COVID-19 conditions as much as possible for employees, customers, and the public, all employers must develop a plan for COVID-19.
As many states begin setting schedules for lifting their COVID-19-related shelter-in-place orders, businesses across the United States are starting to think about what that means for the company. Make no mistake: experts predict the world will never be the same again after this pandemic.
The coronavirus has devastated the restaurant industry in a way that was not 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.