WESTLAKE VILLAGE, CALIF. (April 7, 2023) – Coldwell Banker Commercial Quality Properties is pleased to announce that it represented the seller in the sale of an approximately 4,000 square-foot building on an area of approximately 1.06 acres, located at 530 Hampshire Road in Westlake Village, California. The transaction closed for $2.7 million.
Although opportunities to acquire distressed CRE have been few and far between thus far, conditions may lead to a significant uptick in the sale of troubled office assets in the coming years. It’s long due, as industry observers have been anticipating a wave of distressed office listings since the pandemic’s onset first unsettled the office market.
MADISON, N.J. (March 30, 2023) – Coldwell Banker Commercial®, an Anywhere (NYSE: HOUS) brand, announced its 2022 award recipients across numerous Coldwell Banker Commercial leadership categories at this year’s annual Global Conference held in Chicago.
HOUSTON (March 30, 2023) – Coldwell Banker Realty is pleased to announce that it has facilitated the lease for 5636 Richmond Avenue in Houston, which will be opened as the newest location for Views Bar and Grill. The 10-year lease has an estimated gross value of $3.5 million. The 8,700 square-foot retail space is located in Houston’s Galleria shopping district.
CANOGA PARK/CHATSWORTH, CALIF. (March 27, 2023) – Coldwell Banker Commercial Quality Properties is pleased to announce that it represented both the buyer and seller in the sale of an approximately 48,550 square-foot, multi-tenant industrial property located in the communities of Chatsworth and Canoga Park, Los Angeles.
As we discussed in part 1 of our Adaptive Reuse Deep Dive, this trend is understandably becoming more and more desirable for cities and developers alike. In part 2, we are outlining the appeal of adaptive reuse for developers, the environmental and economic benefits and the way it better serves the community compared to new construction and gentrification.
Adaptive reuse in commercial real estate refers to the process of redeveloping a building or property type into a new property, typically to meet higher demand in that sector. Adaptive reuse apartments have recently become a popular subject of discussion, as US office sales continue to sink. Over the past few decades, vacant offices buildings have been redeveloped into residential buildings, offering for-sale condominiums or rental apartments.
The Coldwell Banker Commercial® brand is at the forefront of commercial real estate knowledge, trends, events, and insights into the problems or challenges of the industry.
The following is a thought leadership post from Dan Spiegel, SVP & Managing Director — Coldwell Banker Commercial
Highlighted in the February ICYMI we cover our further expansion into the great state of Montana, new marketing and social assets that are available, a product launch to help with branding and some last-minute details on our upcoming Global Conference!