Walgreens made news this year when it announced its plans to close 1,200 locations over the next three years (per CNN), an exclamation point on the ongoing struggles of the retail drugstore industry…This begs the question: is the modern drugstore still relevant?
Moving into a new home is an exciting moment, but handling the logistics of each step can be a handful. When moving into a luxury home, it’s important to order a comprehensive home inspection for every purchase, but finding a professional equipped to do the job isn’t always so simple. If you’re struggling to find the right professional to perform a luxury home inspection, opting for someone with a background in commercial property inspections should be a top requirement. Luxury home inspections may have more in common with a commercial inspection than a standard home inspection due to a number of factors, including the property’s size, unique systems, and amenities, which are often modeled after commercial locations. To dive more into why commercial inspectors should be your go-to contact, let’s discuss a bit more about the process of a luxury home inspection. Why is it Important to Get a Luxury Home Inspection?Every homebuyer, whether they are purchasing a new or historic home, should always order a home inspection before closing. Homes experience a natural wear and tear over time that owners tend to ignore or overlook until these problems lead to major expenses or even safety hazards. On top of
One of the keys to having success in commercial property investments is to stay on top of market trends and forecasts. While unpredictability in recent years has meant that diverse portfolios are the most resilient, investors are slowly discovering stability and confidence in some surprising places. Of late, many property investors are turning to student housing for their next option, and it’s little wonder why. Why Student Housing?In comparison to other commercial properties, student housing has recovered at a much quicker pace from the effects of lockdowns and the pandemic. While there has been a consistent struggle between CEOs and office workers as preferences for hybrid and full-time remote work have grown in prevalence, students’ choices aren’t changing when it comes to their education. According to the National Center for Education Statistics, even though college enrollment dropped by 15 percent from 2010 to 2021, enrollment is on track to increase by 9 percent throughout the next decade. Though undergraduate students are more willing to incorporate remote learning into their collegiate experiences than in previous years (as reported by education analysts at EdSurge, among others), the lack of sustained impact that universities are seeing from the pandemic seems to prove a
It’s official. For the third year in a row, the fastest growing sport in the United States is pickleball (according to enthusiasts of the sport at Pickleheads). Odds are good that you’ve already heard of the trend, had a friend fall victim to its not-quite tennis, not-quite ping pong charm, or maybe you’ve been bitten by the pickleball bug yourself. Despite plenty of skepticism, this fad has refused to die down, and commercial real estate investors are starting to take notice. But why pickleball, and what sort of impact can this casual recreational activity have on the CRE landscape? Today, let’s take a swing at de-mystifying the surprising impact of pickleball. What is Pickleball, Anyway?For those who are more than an arm’s length away from the game, pickleball may just seem like a game with a funny name that’s too similar to a number of other more well-established sports. Are there really enough things that make pickleball unique enough to have a draw all on its own? Well, based on its sustained growth, signs seem to indicate that it does. Pickleball is a sport that can be played competitively with two individuals facing off, or in the form of doubles,
Since the global pandemic led to an unexpected shift in revenue and in the way average people choose to spend their money, the movie industry has struggled mightily to recover. Per the Hollywood Reporter, the US has lost approximately 2,165 theater screens (or around 5% total) since 2019 within exhibitor locations, and nationwide, the largest theater franchisors are looking to reduce quantity to recoup losses and direct their focus on premium experiences. The way that this translates over to commercial real estate is massive due to the impact that empty theaters have on neighboring businesses. Business owners and commercial property managers alike are wondering whether the cinema still can be relied upon as the consistent anchor to boost foot traffic and drive revenue. To get a better idea of the forecast of cinema CRE, let’s take a look at how theater property owners are adjusting their approach. Movies Are Coming Back, And The Experience Is BetterTheater revenue has slowly improved over the past few years, but the industry has yet to replicate pre-pandemic numbers. This underperformance has been attributed to a number of factors, from a lower number of new film releases each season (another echo of the pandemic) to
As with many industries in 2023, commercial real estate is adapting to new influences and certain industries are seeing a surprising resurgence. One sector that is especially poised for a solid year in commercial real estate is the Fitness and Wellness sector. Between a natural recovery from lockdowns due to the coronavirus pandemic, a demand for tenants that require a lot of space, and the growing demands of consumers, the coming years seem to point towards major positivity for fitness-focused businesses. To understand why there’s a sudden optimism for fitness CRE, let’s look at each factor independently. Recovery from the PandemicCOVID impacted businesses in many unique ways, but some of the businesses affected most severely were part of the fitness and wellness sector. According to statistics compiled by the Global Health and Fitness Association, the fitness industry’s revenue plummeted by 58% in the U.S. in 2020, and 17% of all fitness facilities permanently closed. While the industry was viewed as trending in the right direction prior to 2020, the ensuing lockdowns caught business owners completely off guard. As an industry with very little transitionary potential into virtual services, sizable closures were inevitable. As a result, the speculation quickly turned to,
What’s popular in the world of commercial real estate is dependent on both cultural needs and capitalizing on trends that effectively draw in an audience. One trend making waves is “competitive socializing,” but are these venues a passing fad, or a sign of a rapid transformation in the entertainment sector? Let’s take a look at what exactly this broad concept is, and why it’s making such a splash in commercial real estate. The History of Competitive SocializingCompetitive socializing is a term that commercial real estate investors and property owners have likely come across in association with many of the new “experience-based” businesses growing in popularity. Commonly considered a fusion of hospitality and entertainment, competitive socializing venues look to combine high-quality or niche food and beverages with a unique game or experience. The bones of this concept have been around for some time in the states through restaurants like Chuck E. Cheese or Dave & Buster’s, where customers can enjoy a meal along with classic arcade-style games. Prior to then, though, the term was first used in the U.K. where pubs have long been central gathering points for games and drink. Today, unique concepts that try to fill the need of
Especially in high traffic areas, the material gets worn down and dingy, devaluing your property overall. But with just a bit of preventative care, you can keep your carpet in its best condition.
From NFTs to the metaverse, the online world continues to expand into new frontiers. This has also had an impact on the physical world and commercial real estate specifically.
Online shopping hasn’t come without some growing pains. One major pain point is growing distributor storage needs.
Walgreens made news this year when it announced its plans to close 1,200 locations over the next three years (per CNN), an exclamation point on the ongoing struggles of the retail drugstore industry…This begs the question: is the modern drugstore still relevant?
Moving into a new home is an exciting moment, but handling the logistics of each step can be a handful. When moving into a luxury home, it’s important to order a comprehensive home inspection for every purchase, but finding a professional equipped to do the job isn’t always so simple. If you’re struggling to find the right professional to perform a luxury home inspection, opting for someone with a background in commercial property inspections should be a top requirement. Luxury home inspections may have more in common with a commercial inspection than a standard home inspection due to a number of factors, including the property’s size, unique systems, and amenities, which are often modeled after commercial locations. To dive more into why commercial inspectors should be your go-to contact, let’s discuss a bit more about the process of a luxury home inspection. Why is it Important to Get a Luxury Home Inspection?Every homebuyer, whether they are purchasing a new or historic home, should always order a home inspection before closing. Homes experience a natural wear and tear over time that owners tend to ignore or overlook until these problems lead to major expenses or even safety hazards. On top of
One of the keys to having success in commercial property investments is to stay on top of market trends and forecasts. While unpredictability in recent years has meant that diverse portfolios are the most resilient, investors are slowly discovering stability and confidence in some surprising places. Of late, many property investors are turning to student housing for their next option, and it’s little wonder why. Why Student Housing?In comparison to other commercial properties, student housing has recovered at a much quicker pace from the effects of lockdowns and the pandemic. While there has been a consistent struggle between CEOs and office workers as preferences for hybrid and full-time remote work have grown in prevalence, students’ choices aren’t changing when it comes to their education. According to the National Center for Education Statistics, even though college enrollment dropped by 15 percent from 2010 to 2021, enrollment is on track to increase by 9 percent throughout the next decade. Though undergraduate students are more willing to incorporate remote learning into their collegiate experiences than in previous years (as reported by education analysts at EdSurge, among others), the lack of sustained impact that universities are seeing from the pandemic seems to prove a
It’s official. For the third year in a row, the fastest growing sport in the United States is pickleball (according to enthusiasts of the sport at Pickleheads). Odds are good that you’ve already heard of the trend, had a friend fall victim to its not-quite tennis, not-quite ping pong charm, or maybe you’ve been bitten by the pickleball bug yourself. Despite plenty of skepticism, this fad has refused to die down, and commercial real estate investors are starting to take notice. But why pickleball, and what sort of impact can this casual recreational activity have on the CRE landscape? Today, let’s take a swing at de-mystifying the surprising impact of pickleball. What is Pickleball, Anyway?For those who are more than an arm’s length away from the game, pickleball may just seem like a game with a funny name that’s too similar to a number of other more well-established sports. Are there really enough things that make pickleball unique enough to have a draw all on its own? Well, based on its sustained growth, signs seem to indicate that it does. Pickleball is a sport that can be played competitively with two individuals facing off, or in the form of doubles,
Since the global pandemic led to an unexpected shift in revenue and in the way average people choose to spend their money, the movie industry has struggled mightily to recover. Per the Hollywood Reporter, the US has lost approximately 2,165 theater screens (or around 5% total) since 2019 within exhibitor locations, and nationwide, the largest theater franchisors are looking to reduce quantity to recoup losses and direct their focus on premium experiences. The way that this translates over to commercial real estate is massive due to the impact that empty theaters have on neighboring businesses. Business owners and commercial property managers alike are wondering whether the cinema still can be relied upon as the consistent anchor to boost foot traffic and drive revenue. To get a better idea of the forecast of cinema CRE, let’s take a look at how theater property owners are adjusting their approach. Movies Are Coming Back, And The Experience Is BetterTheater revenue has slowly improved over the past few years, but the industry has yet to replicate pre-pandemic numbers. This underperformance has been attributed to a number of factors, from a lower number of new film releases each season (another echo of the pandemic) to
As with many industries in 2023, commercial real estate is adapting to new influences and certain industries are seeing a surprising resurgence. One sector that is especially poised for a solid year in commercial real estate is the Fitness and Wellness sector. Between a natural recovery from lockdowns due to the coronavirus pandemic, a demand for tenants that require a lot of space, and the growing demands of consumers, the coming years seem to point towards major positivity for fitness-focused businesses. To understand why there’s a sudden optimism for fitness CRE, let’s look at each factor independently. Recovery from the PandemicCOVID impacted businesses in many unique ways, but some of the businesses affected most severely were part of the fitness and wellness sector. According to statistics compiled by the Global Health and Fitness Association, the fitness industry’s revenue plummeted by 58% in the U.S. in 2020, and 17% of all fitness facilities permanently closed. While the industry was viewed as trending in the right direction prior to 2020, the ensuing lockdowns caught business owners completely off guard. As an industry with very little transitionary potential into virtual services, sizable closures were inevitable. As a result, the speculation quickly turned to,
What’s popular in the world of commercial real estate is dependent on both cultural needs and capitalizing on trends that effectively draw in an audience. One trend making waves is “competitive socializing,” but are these venues a passing fad, or a sign of a rapid transformation in the entertainment sector? Let’s take a look at what exactly this broad concept is, and why it’s making such a splash in commercial real estate. The History of Competitive SocializingCompetitive socializing is a term that commercial real estate investors and property owners have likely come across in association with many of the new “experience-based” businesses growing in popularity. Commonly considered a fusion of hospitality and entertainment, competitive socializing venues look to combine high-quality or niche food and beverages with a unique game or experience. The bones of this concept have been around for some time in the states through restaurants like Chuck E. Cheese or Dave & Buster’s, where customers can enjoy a meal along with classic arcade-style games. Prior to then, though, the term was first used in the U.K. where pubs have long been central gathering points for games and drink. Today, unique concepts that try to fill the need of
Especially in high traffic areas, the material gets worn down and dingy, devaluing your property overall. But with just a bit of preventative care, you can keep your carpet in its best condition.
From NFTs to the metaverse, the online world continues to expand into new frontiers. This has also had an impact on the physical world and commercial real estate specifically.
Online shopping hasn’t come without some growing pains. One major pain point is growing distributor storage needs.
