Commercial properties with a drive-thru lane are commanding higher rents. The pandemic has led to a new appreciation for being able to stay in your car while you’re served. Properties with drive-thru lanes are being sold at a premium and attracting rents that are 10% to 20% higher than typical lots, the CoStar Group reports. …
Category: Real Estate Tips
Dec 22
Top 50 Office Transactions
Life science and medical offices are proving to be the all-stars in the recovering office sector. A $3.4 billion sale of University Park at MIT topped the 2021 rankings for commercial transactions in the office space, setting a new record, according to a new study released by CommercialCafe, a commercial real estate internet-listing service. CommercialCafe …
Dec 20
Multifamily Demand Rebounds in Big Cities
The onset of the pandemic led to a decrease in multifamily housing demand in high-density cities as renters started to favor more spread-out communities in the suburbs. But big-city demand is coming back. Multifamily home building is gradually picking up pace in large metros once again, according to an analysis from the National Association of …
Dec 20
Office Occupancy Is Increasing
Employees are headed back to the office. After the pandemic caused many companies to encourage work-from-home policies for office workers, real estate indicators signal a reversal. As they return, companies want more space. As of February, office occupancy continued to increase, with 84% of 390 metro areas seeing a rise, according to CoStar data. Since …
Dec 19
Top Metros Leading Development
The Dallas metro area has seen the most activity in real estate development over the past decade, becoming like a magnet for new residents and businesses, according to new research from StorageCafe, a national storage-space marketplace from Yardi. Dallas led the U.S. in development, but the majority of major cities across the country saw an …
Dec 16
Companies Team Up for ‘Airbnb of Office Space’
Taking advantage of growing interest in alternative office arrangements, two companies are teaming up to build a coworking giant that will allow firms to rent office space whenever they need it. IWG PLC, a flexible office operator and rival to WeWork, announced it was investing about $350 million in a venture with the Instant Group, …
Dec 15
Construction Ramps Up for Apartments, Single-Family Homes
Housing starts rose in February, led by a robust increase in multifamily construction, the Department of Housing and Urban Development and the Census Bureau reported Thursday. Housing starts, including both multifamily and single-family, increased 6.8% last month and are up 22.3% over a year ago. Broken out, activity in the multifamily sector, which includes apartment …
Dec 15
Most Expensive Office Submarkets
A boom in life science buildings led Cambridge, Mass., to top a list of most expensive office submarkets of 2021, according to a new analysis by PropertyShark, a real estate data resource. The average price per square foot of office space in Cambridge was $1,560 last year, the highest in the nation—even overtaking West Coast …
Dec 14
Industrial Construction Accelerates at Record-Breaking Levels
Demand for industrial space continues to swell and construction is increasing, reaching record-breaking levels, CommercialEdge details in its monthly National Industrial Report. The average sale price for industrial space was $125 per square foot in February. Ongoing investor demand continues to drive transaction activity to new heights, the report shows. Industrial space in Seattle is fetching …
Dec 13
Commercial Real Estate Recovery Kicks Into High Gear
Consumers are resuming pre-pandemic activities, such as working at the office, dining out, and attending sports events, which is boosting all commercial sectors. Despite the financial pressures of rising interest rates and high inflation, consumers are returning to their pre-pandemic lifestyles, providing a boost to commercial real estate across all sectors, experts said Wednesday at …
Dec 12
Spread the Word
At thedifference.realtor you’ll find language and assets, like social media graphics and email signature banners, that you can use every day. As president, I’ve had the privilege to meet thousands of you either in person or virtually and to experience the good work you do. I can truly say that REALTORS® bring it home for …
Dec 09
The Top Commercial Real Estate Markets
Florida has five of the hottest commercial real estate metro markets in the first quarter: Orlando, Miami, Palm Beach Fort Lauderdale, and Fort Myers, according to new research from the National Association of REALTORS®. NAR’s Commercial Real Estate Market Conditions Index is calculated by factoring in 25 variables that reflect a metro area’s economic conditions, demographics, …
