As most students resume in-person learning this fall, there are several implications for the commercial real estate market. From private schools to higher education institutions, the world of academia is turning a new page after the COVID-19 pandemic forced millions of students into virtual classrooms.
MADISON, N.J. (July 14, 2021) – Coldwell Banker Commercial, a Realogy (NYSE: RLGY) brand, announced five brokerages joined the brand in the first half of 2021.
This month we discuss some events that happened in June as well as some upcoming events and educational opportunities in July. We also share news on new companies that joined CBC, a new awards brochure and more!
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.
Coldwell Banker Commercial’s quarterly CBC Chatter, a virtual discussion diving into the industry’s hottest topics, explored the world of Cannabis and Commercial Real Estate.
In the world of commercial real estate, investing, and beyond, “ESG” is becoming a frequent topic of discussion. But what exactly is ESG? Why is everyone talking about it? And what does it mean for your business? ESG stands for Environmental Social and Governance, and refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. More specifically, ESG is a generic term often used in capital markets and is commonly practiced to evaluate the behavior of companies, as well as consider their future financial performance. We are seeing investors take social responsibility seriously by diligently researching companies’ ESG profiles and using ESG criteria to screen potential investments. The graph below describes what falls under the ESG umbrella.
On June 24th, 2021, Coldwell Banker Commercial hosted its second CBC Chatter, a virtual quarterly series hosted by Managing Director Dan Spiegel to discuss hot topics in the world of commercial real estate. This event focused on cannabis and how the industry is warming up to the trend.
New green rush? 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. Tracking $26 billion in sales for 2021, the legal cannabis industry is expected to reach $46 billion by 2025 (per Marijuana Business Factbook) driven by new markets. States legalizing cannabis are likely to affect neighboring states that don’t want to lose this revenue to someone else. With NJ and NY having just legalized recreational marijuana, the east coast states of CT, DE and RI could follow suit.
As we all know, 2020 was an incredibly challenging year. A variety of industries were greatly impacted by the changes present by the COVID-19 pandemic, commercial real estate included. For the first time, employees started working from home, meetings were hosted via zoom, and all events were cancelled. As the economy stalled, many businesses and property owners found themselves negotiating with both tenants and lenders on rent relief and loan modifications.