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The impact of Covid-19 has greatly been felt across the commercial real estate industry. Many businesses had to shut down, while others moved to work remotely. Few new businesses opened due to the uncertainty the pandemic brought. During this time, there was little need for buying or renting commercial buildings. However, as agents know, the impact of crises on real estate does not last forever.
As the world begins to return to normal, workers are going back to the office and businesses are beginning to open. The demand for commercial real estate is growing, and with this growth come new possibilities for innovation. Below, 11 members of Forbes Real Estate Council predict how the commercial real estate landscape will react to the effects of the global pandemic.
The mixed-use development proposed for the long dormant parcel on Newport Avenue abutted by New Road and Moore Street was approved by the Planning Board at its May 10 meeting. “Newport Center,” as called by owner Schiavo Enterprises, LLC, can move forward with the construction of two four-story apartment buildings, a gas station/convenience store and a commercial outlet, the stated intention for the space to be a grocer.
Boston Real Estate Times announced its list of the 10 Outstanding Women of 2021 in Commercial Real Estate….
BOSTON — Boston Mayor Martin J. Walsh and the Boston Public Library announced that the renovation of the…
Schiavo Enterprises LLC, based in Dedham, Mass., is the applicant and developer/owner of the project, seeking to construct 152 units of housing as well a commercial element or elements on the site, which hasn’t been utilized for well over 30 years if not longer.
If this were a normal May, every weekend would be filled with potential buyers traipsing through homes, pulling open closet doors, peeking behind shower curtains and inspecting boilers. But this is not a normal May.
The fast-worsening covid-19 pandemic has triggered layoffs at more than a quarter of construction firms responding to an online survey released last week by the Associated General Contractors of America. The finding, based on responses from earlier this week, contrasts with the government’s monthly employment report for March, which found that construction employment declined by 29,000 as of mid-March.
The coronavirus pandemic (COVID-19) has not only impacted the physical health of humans around the world, but the health of the U.S. economy as well. The stock market has fallen about 33 percent from its February highs, and unemployment is estimated to rise to between 20 percent and 30 percent — though no one knows the true fallout yet. Because we’re still in the thick of it.
After analyzing all 2019 residential sales in New England’s six beautiful states and calculating the median sale price in each zip code, real estate site PropertyShark discovered yet another way to say that buying a house is a ridiculously hard thing to do around here: Massachusetts is home to 40 of the top 50 priciest places (technically 52, due to a few ties) in the region
Post Office SQ. Begins Transformative Development BOSTON, MA—Construction has begun at the 41-story One Post Office Square in…
Boston Children’s Museum, located along Boston’s Fort Point Channel, has announced an ambitious resilience planning initiative to respond to the acute flooding risk posed by sea level rise and extreme weather events.
Travelers Adjust To New Uber, Lyft Pick Up Locations At Logan Major changes with plenty of glitches…
Finding middle ground in the garbage Reducing carbon emissions and traffic congestion are important priorities for our city….
The impact that rising temperatures and excessive heat waves are having on urban development, and strategies to mitigate urban heat island effects are explored in a new report.