Featured Listing (see below): 160 & 164 Broadway Street, Asheville Commercial Real Estate Insights With the new year underway, Asheville embraces change and growth with exciting developments that are transforming the city’s landscape and enhancing its appeal for both residents and visitors. Three newly opened hotels in Asheville are breathing new life into the city’s… Read more »
Commercial Real Estate Insights As we wrap up 2023, we reflect on a year of dynamic change and growth in Asheville’s business landscape. We’ve seen the flourishing of new ventures, the closure of beloved establishments, and the continued evolution of our city’s real estate and development scene. In the River Arts District, the Radical Hotel… Read more »
Commercial Real Estate Insights Sustainability is a key theme in our city, and it was a hot topic for 2023’s quarter three. Additionally, several transformative projects and initiatives are set to shape the future of the city. One of the most significant developments was the approval of “Project Aspire” in Downtown Asheville. A collaborative effort… Read more »
Commercial Real Estate Forecast New commercial developments and revitalization projects are taking shape across the urban landscape. Downtown Asheville, in particular, has seen a surge in demand for office space, retail stores, and dining establishments. Quality of life in the Blue Ridge, coupled with a thriving tourism economy and supportive business climate, continue to create… Read more »
Commercial Real Estate Forecast There may be challenges ahead for commercial real estate. Retail is at a crossroads, and the future of office space is unclear. Plus, supply chain concerns persist, and inflation is near a 40-year high, prompting the Fed to steadily increase interest rates. But there are a few bright spots. Locally, multi-family… Read more »
Commercial Real Estate Forecast The Asheville metro area received top marks at the start of the second quarter in an analysis of economic and commercial market health across the country. The National Association of REALTORS® (NAR) ranked Asheville as one of the nation’s “Top 16 Commercial Real Estate Markets” in an index citing office, industrial,… Read more »
Commercial Real Estate Forecast A strong economy generally benefits real estate, and 2021 proved just that. With the U.S. economy growing at 5.6% during 2021, annual CRE sales volume crossed $600 billion for the first time ever through November. While optimistic about the economic outlook going forward in 2022, inflation and a rising interest rate… Read more »
Commercial Real Estate Forecast As more businesses reopen, and with COVID-19 precautions still in place, industry experts are optimistic about the current state of commercial real estate. According to The Real Estate Roundtable, “The Q4 2021 Real Estate Roundtable Sentiment Index registered a score of 73…a 29-point increase over Q4 2020”. While conditions vary among… Read more »
Commercial Real Estate Insights The economy is improving, as are some sectors of commercial real estate. Although we are seeing improvements, it remains uneven across property types and geographic markets. The multifamily, industrial, and retail property markets are coming back strongly. The recovery has not been as robust in the office and hotel property markets,… Read more »
Commercial Real Estate Forecast The commercial real estate industry is, as a whole, continuing on an upward trajectory. Ongoing focus on vaccinations as consumers turn toward travel and in-person interactions is aiding the industry’s recovery. However, some sectors are recovering more quickly than others. The industrial and multifamily sectors are burgeoning, while the hospitality and… Read more »