NOMINATIONS ARE NOW OPEN FOR SIOR’S 2021 BROKER OF THE YEAR AWARDS!
SIOR is now taking nominations for the 2021 Broker of the Year Awards. Nominations include Office Broker of the Year, Industrial Broker of the Year, and Investment Broker of the Year. Awards will be based on production from July 1, 2020, through June 30, 2021.
Nominations are due by August 6th. Fill out your nomination forms today!
WASHINGTON STATE IS NOW OFFICIALLY REOPENED!
We are excited to announce that effective today, Wednesday, June 30th, Washington State has lifted the majority of restrictions imposed on businesses, including those restrictions affecting the real estate industry. However, certain face-covering requirements still apply to real estate firms, and sellers may impose their own requirements for those visiting a property. As always, brokers should be respectful of others and continue to follow recommended health guidelines.
Brokers and their clients must adhere to any requirements or restrictions imposed by the seller of a property, including required appointments, mandatory face coverings, capacity limitations, or other instructions. Listing brokers should detail any requirements in the listing and post signs at the property regarding any specific instructions (e.g., face-covering required to enter).
Real estate firms may open their offices at 100% capacity, provided that firms comply with specific protocols from the Department of Labor and Industries, including the following face-covering requirements:
CONSUMERS VISITING A REAL ESTATE OFFICE:
Firms can allow consumers who are fully vaccinated not to wear a face-covering after providing proof of vaccination. In addition, firms can allow fully vaccinated consumers not to wear a face-covering based upon the honor system.
BROKERS AND EMPLOYEES WORKING IN A REAL ESTATE OFFICE:
Firms can require all brokers/employees to wear a face-covering, or Firms can allow brokers/employees who are fully vaccinated not to wear a face-covering after (a) showing vaccine card or photo of vaccine card; (b) documentation from a health care provider; (c) state immunization information system record; or (d) providing a signed document attesting to vaccination. In addition, the firm should maintain a log of persons who have verified that they have been vaccinated, including the method and date of verification.
For more information, Governor Inslee’s recent announcement is available here. In addition, the latest information about the Washington State coronavirus response is available here.
Our friends at Washington REALTORS® have provided updated COVID 19 Real Estate FAQs for additional guidance.
VIEW FAQS
SPONSORSHIPS STILL AVAILABLE FOR THE CBA/CCIM 2021 GOLF TOURNAMENT AT SAND POINT COUNTRY CLUB!
Tickets to our tournament at the Sand Point Country Club on Monday, September 13th are selling fast! We still have a few sponsorship opportunities available at multiple price points, so click below to learn more and connect directly with CRE professionals from across the Pacific Northwest!
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NOW AVAILABLE EXCLUSIVELY FOR CBA MEMBERS: LEASING MARKET AND SUBMARKET REPORTS
We are pleased and excited to announce that CBA Members now have direct access to Leasing Market and Submarket Reports within our new listings search platform!
Packaged for independent CRE professionals, these reports are available exclusively to CBA Members at no additional charge.
From Seattle to Spokane, Boise to Bellingham, and up and down the I-5 Corridor, you can now access dynamic market reports with current and historical aggregated data for the vacancy, absorption, rental rates, and new construction for the vast majority of CBA’s markets for the Office, Industrial, Retail, and Multi-Family asset classes. These reports are sourced by REIS, the nation's most trusted provider of commercial real estate market data, research, and analytics, and supplied to CBA through our partnership with Moody’s Analytics, the owner of Catylist and REIS. They are a terrific complement to CBA’s quarterly CMA reports, which provide analytics and data for commercial property sales across the state of Washington.
These are the same reports relied upon by institutional lenders, large corporations, institutional owners, government agencies, and the nation’s leading news publications, industry publications, and business journals. As a CBA member, you can now use them to improve your understanding of the market, support your business and better assist your clients.
For more information on how to run these reports CLICK HERE.
WASHINGTON'S COMMERCIAL REAL ESTATE PROPERTY SALES REBOUND SIGNIFICANTLY DURING Q1 2021 COMPARED TO 2021
CBA's Commercial Market Analysis (CMA) Sales Report analyzes quarterly economic and commercial real estate sales activity and trends at the market and submarket levels. We are pleased to offer this detailed analysis and report for your use and interpretation. In this report, we compare same-month and total quarterly sales by asset class and county from 2020 to 2021.
Summary Highlights of Q1 2021:
The market saw a 71% quarterly increase in dollar volume and a 16.5% increase in transaction volume compared to Q1 2020.
The rebound was led by the Industrial and Multifamily property segments, which witnessed 296% and 126% increases in dollar volume, respectively.
Office property sales, despite an 11% drop in dollar volume from the prior year, saw a surge in the number of sale transactions, increasing 51%.
Retail properties, despite challenges associated with COVID-19 economic shutdowns and restrictions over the past 12 months, saw a 14.5% increase in dollar volume and a 4.7% increase in sale transactions.
To review the full report and report overview click on the button below.
JOIN US IN HONORING KEY CHOICE COMMERCIAL'S FOUNDER, MIKE BRADLEY
We here at CBA are saddened by the news that longtime member and Key Choice Commercial Founder Michael Bradley passed away on April 19, 2021. Mike established Bradley Commercial Real Estate in 2004 and was passionate about educating people about commercial real estate.
After selling the firm to Natalie Foskey in 2017, the team continued operating under Bradley’s name until 2020. Even though he “retired,” his license was kept current at Key Choice Commercial Real Estate. Mike was a man who loved traveling, adventure and staying up to date on all things related to commercial real estate. He was proud of his CCIM designation (Certified Commercial Investment Members) and attended classes yearly to keep current on the latest trends in commercial real estate. He was a source of education and inspiration and stayed active in the industry right up to the end.
Our heartfelt condolences go out to Mike's family, friends, and coworkers.
SETTING UP "SAVED SEARCH" ALERTS ON OUR NEW SEARCH PLATFORM
Hot Sheets are one of the most widely used tools on our new CBA Search Platform, so we've made some updates to help you better meet your clients’ needs.
You can now set up "Saved Search" alerts to get the information you need when you need it. And you can even add your clients to your "Saved Searches" for even quicker results.
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