Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
Real estate premise expenses can consume as much as 20% of revenue for many businesses, making it one of the top operating costs. It is therefore no surprise that in these times of uncertainty, tenants are looking for short-term liquidity from their long-term lease commitments.
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.
Changes in one sector substantially impact the whole industry, and this relationship can be observed in the evolving restaurant scene. As the food industry strives to keep up with contemporary consumers, dining trends are physically changing restaurant properties.
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.
Across the United States, there are a number of eyesores that are hard to miss. One of these is the abandonment of shopping malls and other huge “big box” stores that were once industry giants, such as Toys R Us. These types of abandoned buildings are the perfect visual representation of the current shift in the retail landscape.
As any commercial real estate professional will tell you, the industry has witnessed several changes, including economic impacts, industry trends, market challenges, and more. When looking at commercial real estate, it is crucial to focus on generational activity and lifestyle trends.
Watching the latest season of Stranger Things, one cannot help but reminisce about the mall in its glory days. In the 1980s, the mall did to Main Street what the internet has done to almost all brick-and-mortar. All too familiar eye-grabbing headlines have now become commonplace when reading about today’s retail climate.
Americans have many ways to quench their thirst, from sodas to designer waters. A visit to a ballpark often doesn’t seem the same without a hot dog and a cold beer. While per capita beer sales have fallen 12% from 20091 levels, the number of craft breweries has exploded.
Driverless cars are everywhere. Now, the autonomous car trend is spreading across the world. So, we need to prepare for the changes that these vehicles could cause. Whether on the road or in your home, driverless cars will begin to affect your day-to-day life.