Over the past few years, most commercial real estate (CRE) sectors have had to reinvent themselves to some degree to keep up with changing trends and demands. We’ve seen this across retail, hospitality, office, and multifamily – with some big shifts taking place in response to the movements of workers and travelers in the post-2020 world.

For most industries, the past few years have brought some big changes. One of the most significant for many of us has been the shift towards remote or hybrid work, with businesses and commercial real estate professionals alike needing to be quick on their feet when it comes to supporting new modes of hybridity.

For this edition of our ongoing commercial real estate (CRE) terms series, we’re looking into the lingo surrounding commercial land.

For many working in the commercial real estate (CRE) and investment space, 2023 has already been a challenging year. Since the middle of last year, interest rates have risen at an alarming pace, with no asset class immune to the impact, though some have certainly been hit harder than others.

Among the many things that make NAI Global’s network so successful is the incredible talent of our hardworking professionals across the globe.

Here at NAI, we strive to support our team members to make the most of a career in commercial real estate (CRE) and to be able to bring their all to the job each and every day. Also important to us, however, is that the success those individuals achieve as CRE professionals extend into their passions in other areas of life as well.

Ask any group of commercial real estate (CRE) professionals which sectors have shown the most adaptability in the face of change over the past few years, and an answer that’s sure to crop up more than once is retail.

Just three years ago, the hospitality sector faced one of its toughest challenges. As borders closed and travel all but ceased, hotels were left scrambling to come up with new strategies to stay afloat until they could reopen their doors to incoming guests.

There’s no denying that, from an economic perspective, 2023 got off to a rough start. Constant rate hikes, and the ever-present possibility of recession have loomed large on the horizon, and many industries have been impacted by the resulting uncertainty.

For commercial real estate (CRE) brokers just starting out, learning the ropes can be a daunting task. Everything from contract negotiations to managing clients is par for the course – and that’s without even touching on the challenges specific to their market or sector.

Over the past few years, digitization and new tech trends have exploded onto the scene across a huge range of industries. Commercial real estate (CRE) has been no exception as we’ve had to shift into high gear when it comes to adapting to, and adopting, new tech solutions to drive our business.

According to a recent news release from the Council of Insurance Agents and Brokers, CRE premiums increased, on average, 20.4% in Q1 2023. The organization notes that this is the first time since 2001 that we’ve seen an increase of this magnitude for the sector.