News: Spotlights
Posted: December 29, 2023
2023 Year in Review: Eric Schultheis, Sweeney Real Estate & Appraisal
Appraiser & Salesperson
Sweeney Real Estate & Appraisal
What person, project, transaction, or market trend had the greatest impact on your industry this year?
Rising interest rates have had the greatest impact on the commercial real estate industry over the past year. Owners don’t want to sell at lower prices and investors are shying away due to increased lending cost.
What emerging trends will drive investment and development in 2024?
As an effort to relieve the historically low housing inventory the State of Rhode Island has implemented several state down zoning changes adopted within 2023 and going into effect January 1, 2024. Changes will allow for adaptive reuse of existing commercial structures into residential developments. This results in endless potential for conversion projects.
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Columns and Thought Leadership
Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Investing in a falling rate environment - by Harrison Klein
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary