Take a quick look back at our year with us. What a year 2021 was for the commercial division! Cheers to 2022 and all of the opportunities ahead for our agents and clients! We look forward to serving you throughout the year.
Berkshire Hathaway HomeServices Verani Realty is pleased to announce that Shaw’s Apple Tree Shopping Center on Rte.102 in Londonderry, N.H. is now totally renovated and 100% leased.
As we close out Q3 2021, activity in most of the major commercial real estate sectors remains elevated. Equal amounts of interest are being generated from both investors and occupiers alike. Three commercial real estate sectors in particular have outperformed the broader market since the outbreak, and continue to generate the most interest from investors and developers.
Summer has come and gone, and it sure seems like it went fast. We recorded the wettest June and July here in the Northeast, while our friends in the west are experiencing record droughts, heat and forest fires. With COVID-19 on the rise again thanks to the delta variant, things are just as crazy, if not more so, now. With back-to-school mask policies varying greatly between states, counties and towns and the troop withdrawal from Afghanistan, political division across the country seems to be at a peak.
For all of the continued reporting that retail is dead and won’t ever come back to pre-COVID levels, or that all the tenants have gone away, it’s a wonderfully positive and inspiring contradiction we are experiencing in New Hampshire. It’s not just New Hampshire, either - we are seeing the same thing in many parts of New England and across the United States.
WOW déjà vu. Another Spring Forecast has arrived. It seems weird writing this after battling through a year of COVID-19 and all the changes that have followed. Yet, remarkably, we have adapted. Truthfully, New Hampshire has fared well in comparison to other states. Even with following the “protocols” we can still meet tenants, brokers, buyers and sellers on site and conduct business. While February has brought us several snowstorms, we are all looking forward to spring. It will be here before we know it, and as it always does it will bring a wave of optimism, especially with more and more people being vaccinated. There is so much pent-up demand to shop, eat, mingle, and get out and about.
As we prepared to close out 2020, I’m sure many of you reading this thought to yourselves, “Thank goodness, let’s get 2020 over with and move on!” I can’t say that I blame you. It’s understandable that everyone has a different perspective. People have been impacted differently, and perhaps still have feelings of unease surrounding the pandemic, the economy and most importantly family and loved ones.
Our Monthly Market update is a week late (oops!) but the good news is that the stats about December haven't changed since last Monday! The commercial real estate market as a whole isn't expected to rebound fully for a good long while, but there are sectors that have been surviving - even thriving - through the last 10 months!
July showed some promising numbers when we took a look at our monthly report!
The number of lease transactions are (WAY) up from last month. On top of lease transactions being up, we also saw that leases were being signed at 107% of the asking lease rate which is good news for landlords!
Not surprisingly retailers are a litttttle leery signing new leases in the midst of a pandemic. Even with businesses beginning to open up across the country in May and June, there are still too many unknowns out there.
Among those questions are: