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CRE/Construction News Roundup (April/May 2020)

May 14, 2020 Julia Motis

commercial constructionDespite the negative effects of the pandemic, the commercial real estate and construction industries have kept on moving. Here’s the latest news from both:

 

Local:

 

Great news from a beloved East Nashville music venue

The owners of Basement East estimate that they can have the music venue up and running by year’s end, according to the Nashville Post. It’s been out of commission since the March 3 tornado partially destroyed the building.

The Largest General Contractor list is out

The Nashville Business Journal released its latest list of Nashville’s largest general contractors based on construction billings in 2019. Those highly ranked include Brasfield & Gorrie, JE Dunn and Turner Construction.

Our own Southeast Venture announced some personnel changes

Commercial Real Estate brokerage & design firm announced the addition of six new principals to their panel of leaders. Two of them work in the brokerage services division and the other four are in the design division.

Goodbye to a long-standing structure

The hallowed Gerst Haus building on Woodland St. near the I-24 interchange is set to be demolished. The German restaurant closed in 2018 after 63 years of service. The site owners are considering it for a new hotel.

Opry Mills Mall’s 20th Anniversary

Here’s a look back at the construction and grand opening of the Opry Mills Mall 20 years ago this month.

 

National:

 

What’s next for the construction industry after COVID-19?

Forbes shared some insight in a two-part series into the construction and proptech industry’s road to recovery after the pandemic is finally over. Overall, analysis shows that the crisis’ effects are widespread, but hit some places harder than others. The silver lining? Technology advancements galore. 

Commercial real estate can’t be gotten rid of this easily

According to a Zacks Investment Research analysis, the corona-induced commercial real estate downturn is only temporary and it will rebound. Companies will still need office space (although what it looks like may change), and heavily-discounted CRE stocks are still attracting investors. The outlook is up-in-the-air but promising nonetheless.

How to buy commercial property in a downturn

CNBC Make It shared some helpful tips to keep in mind when buying properties during an economic downturn. The main takeaway: Real estate is still a worthwhile investment.

Natural selection in commercial real estate

A MarketWatch report asserts that the pandemic will be a test of the wills, with the “most flexible” coming out on top.

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