Shopping mall owners and developers must meet the demands of the time-crunched, value-oriented consumer or be prepared for the industry's growth to stumble, according to Wall Street analysts at the annual convention of the International Council of Shopping Centers.
With assets exceeding $120 billion, real estate investment trusts (REITs) are emerging as a dominant force in the commercial market. And they're changing the way real estate investment is regarded on Wall Street and Main Street.
Today, we're told, more than 20 million American employees work out of their home offices. That's enough to dismay any commercial broker. After all, the teleworking trend could translate into a significant decrease in the need for commercial office space.
Coldwell Banker Commercial will compete with CB Commercial, formed in 1989 when Coldwell Banker's former owner, Sears Roebuck and Co., Hoffman Estates, Ill., sold off its commercial practice. But the folks at CB Commercial say they're not planning a name change anytime soon.