CRE TRENDS IN THE CHARLESTON MARKET PRESENTER: Peter Fennelly, SIOR MCR SLCR President of Bridge Commercial
PETER FENNELLY SIOR, MCR, SLCR President of Bridge Commercial As President of Bridge Commercial, Peter is always dedicated to the mission and to the clients. He has successfully completed over 30 million square feet of real estate transactjons and has been involved in all facets of commercial real estate from leasing, negotjatjon, fjnancial analysis to strategic planning. Peter has maintained incredible focus and determinatjon in gettjng the job done and is passionate about doing the right thing for all those involved.
GENERAL INDUSTRIAL MARKET ACTIVITY › Despite the COVID-19 pandemic, Charleston’s industrial market ended Q1 strong with users stjll absorbing space and investors stjll pursuing acquisitjons. › The new “Made in America” paradigm will alter supply chains as rail, trucking and shipping routes adjust. RESOURCE: › Increased e-commerce due to social distancing bridge-commercial.com/market-reports will make industrial buildings more valuable. › Charleston’s industrial outlook is stable and opportunitjes are arising to optjmize, shifu, and excel. WWW.BRIDGE-COMMERCIAL.COM
FUTURE TRENDS IN INDUSTRIAL › Manufacturing companies are looking for more “On shoring” opportunitjes. Bringing Manufacturing back to America. › Distributjon companies are looking at increase in inventory to account for future supply chain disruptjons with overseas and domestjc manufacturers. WWW.BRIDGE-COMMERCIAL.COM
WWW.BRIDGE-COMMERCIAL.COM GENERAL OFFICE RESOURCE: bridge-commercial.com/market-reports MARKET ACTIVITY › Charleston’s offjce market ended Q1 well despite the pandemic hittjng mid-March. › Users are adapatjng to their new environment through remote technologies. › As the offjce market is experiencing changes, property owners and brokers are becoming creatjve problem solvers. › There is a silver lining. What will the new normal look like when this is over?
WWW.BRIDGE-COMMERCIAL.COM FUTURE TRENDS IN OFFICE › Workplace strategies are changing on a day to day basis. › Adaptatjon to working at home – hybrid home/offjce/ travel work environment it is unknown right what the proper mix will be when we all come back to work. › Teleconferencing has helped a lot, but, not the same as “face to face.” › Furniture designers & constructjon – retrofjttjng furniture and spaces to maintain social distancing.
LAND SALES CONTRACTS › Purchase Contracts for land and buildings are generally being extended for extra tjme due to the current Force Majeure. › General Commercial Financing is very turbulent and needs to setule down. WWW.BRIDGE-COMMERCIAL.COM
GENERAL DEVELOPMENT › If you are under constructjon, you need to fjnish. › If you have not started, you need to evaluate the true need and what has changed. Is demand stjll there for that product type? WWW.BRIDGE-COMMERCIAL.COM
WWW.BRIDGE-COMMERCIAL.COM WHAT’S CHANGING? CUSTOMS SPATIAL TECHNOLOGY › GREETINGS › DE-DENSIFICATION › VIDEO CONFERENCE ADAPTATION › MEETINGS › REMOTE WORK › SOCIAL MEDIA › SOCIAL GATHERINGS › SHIFT WORK › COLLABORATION
WWW.BRIDGE-COMMERCIAL.COM WHAT’S CHANGING? ECONOMICS TRAVEL POTENTIAL ADVANTAGES › GLOBAL REDUCTION OF › PLANES › LESS TRAFFIC PERSONAL AND BUSINESS › TRAINS › LESS POLLUTION SPENDING › AUTOMOBILES › MORE TIME › NEW COST STRUCTURES › MORE PRODUCTIVITY
THANK YOU. WWW.BRIDGE-COMMERCIAL.COM
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