Year in Review
What We Learned in 2021
Remember back in 2020 when we all thought things would normalize in 2021? Well, we’re now looking back on the past year with the realization that, yes, in fact, some things have remained, some things have normalized, and some things have adapted into a new normal, especially in the commercial real estate market.
Looking back, we’ve learned a lot in 2021! As a company, Northwest Key is proud of our team’s work and impressed with how the commercial real estate industry and our clients adapted to the new and evolving business world.
On a large and small scale, Here are some of our key learnings for the year, and predictions for the coming year.
Remote or Hybrid Office Model Changed Corporate
According to Forbes, the remote work trend, or hybrid model will continue in 2022. We’ve seen a number of our tenants, and clients adapt smoothly to this trend in 2021, and with the predictions ahead, we’re confident that this trend will continue in the coming year.
Favorability to Commercial Borrowers
2021 was a favorable year for commercial borrowers, and we did see many investors benefit from the Federal Reserve’s commitment to keeping interest rates low. This trend is also likely to continue in the near future since the market is still recovering from the recession, and therefore it is a good time to invest in your commercial goals!
Change Expected for Retailers
Trends show that e-commerce businesses will continue to boom in 2022, and many retailers will move more of their products online due to the high demand for digital products and no-contact product options. According to CBRE there is an expected 29% jump in demand for more retail storage space and e-commerce accommodation in the coming year.
Our Team Grew!
In 2021, we stayed busy as a team, and worked diligently to lease open space, and serve our tenants and clients in the best way possible.
On a company level, we are pleased to see our team mature and grow. Dinah Green, came into her own as a property manager and broker, placing multiple tenants in local office space, and working on commercial property deals with principal broker Amy Cecil. Our team also welcomed Mollie Boyd, who jumped right in and is a perfect fit as our newest commercial property manager.
We’ll continue to serve the Central Oregon community and our clients with commitment and competency in 2022. We’re looking forward to it!
Do you want to connect and talk about your commercial real estate goals for the coming year?
Send us a message, and let's chat!
