We start the new year of 2024 with more optimism than the last year. Why is the reason? Most of the same issues our industry has been dealing with remain today much as they did last year but some of the pessimism of the economists is gone. Some interesting statistics are that in 10/22, 63% of economists
When Karen Dowell, our friend from the
New England Real Estate Journal, called me to write an article for the 2024 Forecast, as usual, I reluctantly agreed. I believe in all my 50 years as a Realtor this may be the craziest and most unpredictable period I can remember. I reread my 2023 Forecast
Every year, the memes on Instagram are the same thing in January. Each is some version of the bright-eyed and bushy-tailed young person in a car or on a beach or somewhere having a great time and clearly excited for what is about to come, side by side with someone who is in the same place, but the scene
Whether you’re in the business of buying, selling, leasing, managing, developing, or redeveloping property, you have a lot to oversee. With so many factors in play, an off-the-shelf approach to insurance will not protect you or your business should disaster strike. - by Spencer Macalaster
This will hopefully apply to the 2024 office market as this segment of the commercial market has been most demanding and will continue to be so through 2024. Nationally, the office market continued to have a challenging year with a gasping 19.2%, physical vacancy in the third quarter,
New Hampshire Office MarketIn 2023, the New Hampshire I-93/Rte. 3 office market remained stable but saw a slight increase in vacancy reporting at 8.4% and average asking lease rates at $15.36 per s/f NNN. As pre-COVID leases expired, some tenants are downsizing their office spaces, combining remote work with
Unless you’re housebound you’ll be crossing the threshold of a supermarket or a prepared food provider…be it a pizzeria, coffee shop, or full service restaurant. Whether you’re standing at a counter, scanning a billboard for what you want to eat or sitting down reviewing your
The multifamily sector has long been lauded as a reliable investment avenue, drawing interest from both developers and investors due to its resilience in the face of market fluctuations. Housing demand, a key driver for this sector, typically remains consistent regardless of economic cycles.
Few of us, if any, in the commercial real estate (CRE) industry will miss 2023. And while we are optimistic about the prospects for 2024 it’s helpful to understand what led to 2023s sharp overall decline in acquisitions and financing activities and how much those factors persist heading into
In 2024, we expect that the supply of industrial buildings and spaces in the Rhode Island market will remain low, with vacancy rates that remain in the 1% to 2% range for “modern” industrial buildings.
