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While office and multifamily properties have dominated recent discussions in commercial real estate, retail is quietly stabilizing. Contrary to the expected decline during the pandemic, retail has proven resilient, with slight value increases and a low vacancy rate of 4.08%. Don't over look the potential of retail. https://ow.ly/6T3E50U9cq8 #CRE #CRENews

Sizing Down: Are “Small Format” Stores the Next Big Thing for Retail? The least optimistic projections suggest as many as 45,000 retail stores could close within the next five years. Read the entire article - https://ow.ly/7BKQ50U9fS2

Patrick Mahoney, CEO of NAI Realvest (realvest.com/), participated in the recent 2024 Invest Orlando Launch Conference on Central Florida on November 7th. The event is hosted annually by Capital Analytics Associates and had in-depth panel discussions on the topics of Innovation, Development and Education. The event offered expert insights into the challenges and opportunities facing Central Florida today. Patrick was interviewed about the state of commercial real estate for the accompanying Invest 2024 Report. To read the entire interview: https://lnkd.in/efDyFZEN Several NAI Realvest brokers attended the function, including Jon Walls, Patrick Mahoney (CEO), Hillary Bressler, Mary Frances West, Sandi Harrison, Stian Funk, Andy McCaw, Jason Toll and Paul P. Partyka (not pictured).

The US office market is showing signs of recovery after a challenging period. Prices for office buildings have dropped 12.4% year-over-year, and recent distressed property sales are setting new pricing benchmarks. While the Federal Reserve's rate cuts may provide some relief, analysts caution that significant reductions in interest rates are needed for a full revival. Learn more: https://ow.ly/lWGg50U2xFU #CRE #CRENews

The CRE market is under pressure with high financing costs and loans set to mature by 2026. Learn more: https://ow.ly/GHmi50U2xwC #CRE #CRENews

Today is World Kindness Day!

NAI Realvest Announces New Senior Vice President Patrick Mahoney, CEO at NAI Realvest, announced that Andy McCaw has been promoted to Senior Vice President, Tenant Representation. Andy McCaw’s vision in 2000 was to give every office tenant top quality representation without conflicts of interest or bias impacting their real estate options and decision process. He puts tenants at an even negotiating table with landlords and sellers. Not only does Andy represent clients when they move, but also helps them when they want to stay where they are. “We represent them when they exercise an option, renew a lease, or sublease excess space,” he said. “Anything that has to do with office space that a tenant occupies.” Patrick Mahoney stated, "Andy’s dedication to his clients has resulted in a substantial number of closed deals worth over $630 million to date. He has more than earned this promotion." For more information about Andy McCaw - https://ow.ly/7EmQ50U5eiZ

It's Veterans Day. Thank you to all who served! Some interesting facts: It was originally called Armistice Day - Hostilities in World War I ended at the 11th hour of the 11th day of the 11th month of 1918 when the Armistice with Germany went into effect. Armistice Day was renamed Veterans Day by President Dwight Eisenhower in 1954 and is now dedicated to veterans of all wars. According to the Census Bureau, in 2021 there were 16.5 million veterans living in the United States, about 6.4 percent of the adult population. The New York City Veterans Day Parade and is both the largest and oldest Veterans Day parade in the country. The first one was held in 1919.

Happy 249th Birthday to the US Marine Corps! On November 10, 1775, the US Marine Corps was officially established by the Second Continental Congress to raise two battalions of Continental Marines to support and strengthen US naval forces in the Revolutionary War. The Marine Corps were the 3rd military force created by the Second Continental Congress - the Army was established on June 14, 1775 and the Navy was established on October 13, 1775. The Marines were disbanded after the Revolutionary War until July 11, 1798, when Congress created the “United States Marine Corps,” and President John Adams approved a bill for an organization that would fall under the Secretary of the Navy.