E-commerce’s precise impact on retail sales remains hazy. But few question that there’ll be an impact--a large one. Although projections of online retail have convinced some that the growth opportunities in bricks-and-mortar retail space will wane, others see new space opening up.
The U.S. economy could be headed for a “cold shower” before spring but will emerge stronger and more balanced, according to the two keynote speakers at TRANSACT ’99, NAR’s first international commercial real estate conference.
For the first time in years, the three major players--insurance companies, banks, and Wall Street conduit lenders--are battling it out for market share. That’s given borrowers a full menu of options for financing property acquisition or development and helped make 1998 and 1999 great years for commercial practitioners.
Bad residential tenants can wield a lot of power. They can damage property, stop paying rent, and make good residents want to leave. But a thorough tenant-screening process, residential property managers say, can prevent a world of headaches in defaults, evictions, and unnecessary turnover.
Although being online isn't yet a requirement in all areas of commercial real estate, clients are becoming more technosavvy every day, expecting to use E-mail to communicate, send a photo, or receive a lease.
Although residential practitioners have used the MLS for years, commercial practitioners haven't always shared listing information. Commercial property listing Web sites started to emerge in the mid-1990s, but an MLS-like comprehensive network of commercial property listings has yet to emerge.