Industry insights, market outlook reports and commercial real estate
news, and trends from the Coldwell
Banker Commercial brand.
There have been severe weather conditions, natural disaster footage on the news, and a growing number of weather-related property losses throughout the years. In fact, the U.S. has sustained 348 weather and climate disasters since 1980, where overall damages/costs reaching or exceeding $1 billion (including CPI adjustment to 2023).
2023 post-pandemic office sector trends explored by Coldwell Banker Commercial.
Discussing the future office space dynamics on CBC Chatter, led by Daniel Spiegel.
Residential real estate's significant carbon footprint highlighted by CBC in climate change mitigation discussions.
Part 1 of Climate Change Mitigation in Real Estate emphasizes sustainability's crucial role.
In part 1 of our climate change series, we explored how the real estate and construction sectors are making efforts to reduce their negative impact on the environment, and how climate change impacts investor’s business decisions. In part two, we will discuss the short- and long-term implications of climate change on real estate, including adoption of corporate Environmental, Social & Governmental (ESG) initiatives, as well as what markets are the most vulnerable.
Climate change is slowly but surely making its devastating impact all over the world. In two parts, we will explore how the real estate and construction sectors are making efforts to reduce their negative impact on the environment, how climate change impacts investor’s business decisions, the short- and long-term implications of climate change on the real estate sector, including adoption of corporate Environmental, Social & Governmental (ESG) initiatives, as well as what markets are the most vulnerable.
In the world of commercial real estate, investing, and beyond, “ESG” is becoming a frequent topic of discussion. But what exactly is ESG? Why is everyone talking about it? And what does it mean for your business? ESG stands for Environmental Social and Governance, and refers to the three key factors when measuring the sustainability and ethical impact of an investment in a business or company. More specifically, ESG is a generic term often used in capital markets and is commonly practiced to evaluate the behavior of companies, as well as consider their future financial performance. We are seeing investors take social responsibility seriously by diligently researching companies’ ESG profiles and using ESG criteria to screen potential investments. The graph below describes what falls under the ESG umbrella.
As we all know, 2020 was an incredibly challenging year. A variety of industries were greatly impacted by the changes present by the COVID-19 pandemic, commercial real estate included. For the first time, employees started working from home, meetings were hosted via zoom, and all events were cancelled. As the economy stalled, many businesses and property owners found themselves negotiating with both tenants and lenders on rent relief and loan modifications.
Those that fled congested cities during the COVID-19 lockdowns are beginning to find their way back to luxury multifamily buildings. GDP forecasts indicate apartment occupancy rates will return to 2019 levels by the end of the year. Now, however, many people’s criteria for apartment living looks different in a post-pandemic world.