Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
Coldwell Banker Commercial is pleased to have represented the seller in selling six student housing rental complexes near the University of North Carolina at Charlotte, N.C., for a combined $10.3 million. The six complexes, a mix of condominium and townhome units, are located within the thriving area of University City.
A report by RentCafe shows 2021 was a highly competitive year for renters in many areas as they faced a perfect storm: high demand, low apartment availability and applicants with top-notch credit scores.
Coldwell Banker Commercial (CBC) is pleased to announce its new Advisory Board members for 2022 to 2024. The Coldwell Banker Commercial Advisory Board comprises a select group of CBC affiliate owners nationwide and was created to provide a forum for exchanging ideas.
Coldwell Banker Commercial represented both the buyer and the seller in the sale of Mulberry Terrace Apartments, a multifamily property located in Whittier, Calif. The property sold for $17.75 million. The two-story, 64-unit complex, located at 14829 Mulberry Dr., was built in 1986.
The U.S. Census Bureau also reported overall retail sales in November were up 0.3 percent seasonally adjusted from October and up 18.2 percent year-over-year. That compares with increases of 1.8 percent month-over-month and 16.3 percent year-over-year in October.
Coldwell Banker Commercial is pleased to have represented the buyer, TDB Land Holdings, Ltd., in the acquisition of 683 acres of vacant land located in the vicinity of the City of Laredo, Texas. The sale price was undisclosed. The buyer plans to develop an industrial park on the site called World Industrial Park.
Looking ahead to 2022, we expect to see another year of strong growth led by the rise of smaller spaces and suburban office leases; capital infusion into the single-family rental market; and continued demand for warehouses, distribution centers and net-leased retail.
CBC represented the buyer in acquiring The Flamingo Garden, a multifamily property at 3711 Cogswell Rd. in El Monte, Calif. as part of a 1031 exchange. The property sold for $12.4 million. Situated in the San Gabriel Valley and east of Los Angeles, the three-story, 58-unit complex was built in 1987.
The U.S. travel industry welcomed all vaccinated international visitors back to the Country after 19 months of pandemic-related border restrictions. This long-anticipated milestone marks the rebuilding of international inbound travel at air, land, and seaports of entry and across destinations nationwide.
Blue Origin, a spaceflight company controlled by Amazon’s Jeff Bezos’, along with partners Boeing and Sierra Space, plan to build a commercially developed, owned, and operated space station in low Earth orbit. The project is being called Orbital Reef and is envisioned as a mixed-use business park.