November is ending and December is quickly approaching, which also means the end of 2020 is almost upon us. As we near the end of the year, we are evaluating our expectations for how the industry will perform here at the end of the year. Luckily, we have reason to believe that we will finish the year strong! Here are our expectations for the commercial real estate industry here at the end of the year.
Some areas that are seeing growth here at the end of the year include big tech offices, lab space and warehouses. We have seen a growth in warehouse space for a while now due to an increase in online spending during the pandemic. Big tech companies such as Facebook and Amazon are expanding and buying/leasing more space around the country. Some areas that are struggling more now because of the pandemic include student housing, brick-and-mortar retail stores and hotels. Restaurant performance have been up and down since the pandemic began. So, with new stay at home orders coming into place, things in the industry are still unclear.
Fortunately, throughout the whole pandemic so far, we have seen nothing but growth here at Maus, Warwick, Matthews & Company! MWM broker Steve Warwick noted that “the commercial real estate market has exceeded expectations for all of 2020. The ‘shutdown’ due to Covid didn’t have as much of a negative effect as anticipated.” On top of commercial real estate performance, Steve noted that “residential sales in the area continue to be strong and record breaking for home sales.” As far as End of the Year Commercial Real Estate Expectations in N, Steve predicted that “Southeastern NC continues to be a desirable place to live and work and therefore we expect the Commercial and Investment Market here to remain strong.” We have always been big believers in Southeastern NC and are looking forward to what is to come here in December.
We are thankful to see continued growth here in Southeastern North Carolina. Additionally, we are hopeful for the commercial real estate performance here at the end of the year and even at the beginning of next year. We have numerous properties available for sale or lease that you can check out over on our website.