Uncertain times for commercial real estate

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The COVID-19 pandemic is uncharted territory and has impacted home and employment life for millions across Florida, including commercial real estate leasing and sales slowing significantly in the first quarter of 2020, revealing the market’s unpredictability. This is a unique moment in the commercial real estate market, and I’ve never seen the market shifts that we’re seeing today, even in my prior position as the owner of a commercial real estate company before selling it to Realogy, Coldwell Banker Commercial’s parent company.

According to Coldwell Banker Commercial’s 2021 Mid-Year Update, the commercial real estate sector saw increased market activity revealing continued strength and recovery in self-storage, net-leased and industrial markets, and concerns in the brick-and-mortar retail, office leasing and the hospitality markets.

Due to the increase in demand, lumber is up 75% from a year ago, although it has come down 50% from May highs….

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