As we fall into a new month and COVID numbers continue to be on the rise in NH yet again, surprising amounts of leases were signed last month. Perhaps people are trying to get back to a sense of normalcy in the office, and perhaps people are down - or up - sizing their offices based on their needs. Whatever it might be, 39 lease transactions in a single month is something that hasn't been reported since February 2019.
The industrial market is kind of in a strange place right now. It is faring better than the majority of the commercial real estate sectors, which is certinaly a positive. It seems that perhaps the sudden increase in the amount of e-commerce and online ordering has helped the industrial sector find its footing again.
The annoyance with these emails is even further exacerbated by the fact that it is VERY possible that your household was effected by all of the shutdowns due to COVID-19. According to the Fed 20 percent of all employed people were laid off or furloughed in March along with an additional 6% who were working reduced hours or on forced leave without pay.
If you're wondering how the office market is faring 6 months after a national state of emergency was declared, look no further!
The residential real estate business is booming right now, and this includes 1-4 unit multifamily properties as well as larger 5+ unit multifamilies. Single family homes have seen their heyday recently with little inventory and plenty of competition. While there have always been plenty of individuals looking to invest in multis, this number has recently increased, especially on smaller multifamily properties. With people being out of work due to layoffs and furloughs, many are going to look to offload their large mortgages and get into something more affordable.
One of the sectors of commercial real estate that seems to be surviving through this pandemic is the industrial sector, despite having to shut down for a period of time.
In June we saw:
• higher list-to-close ratios for sales AND leases
Normalcy in everyday life certainly seems like a distant dream for most of the United States right now. With radical changes to how we work, shop, eat and otherwise live thrown at the country so suddenly, one thing is for certain – the way we go about our lives is going to be very different once the dust has settled from this COVID-19 pandemic.
In this installment of Market Monday, we're looking at industrial properties in New Hampshire through the beginning of 2020 and how they may fair through the first half of the year.
Lucciano‘s Italian Ristorante & Bar has leased 5,100+/- SF adjacent to Shaw’s Supermarket. Owned and operated by Tina and Lou Hatsiandrou the new space is almost triple the size of their previous restaurant where they built up a local following and reputation for offering gluten free pastas and baked goods for 20 years. The new restaurant has 164 seats and a custom-designed wooden bar top that seats an additional 18 guests.
Multi Family Market Monday update!
While the multi family market remains strong into 2020, February did see a little dip in average selling price AND the number of 4+units sold.
|Newer Posts||Older Posts|