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THE LOOPCBC Atlantic Newsletter
MA
RCH
2018
MONTHLY REPORTLets Connect!
Market Watch
Market Watch
Multifamily/Residential Land for Sale
AC: 30.80 AC | SALE:$4,200,000
Location and property is prime for a master planned multifamily
development approximately
CALL 843-744-9877 FOR MORE IN-FORMATION ON THESE PROPERTIES
“Spring in Charleston has officially sprung. As we gear up for the warm weather, we look forward to the many upcoming events and activities that our thriving community has to offer. On the real estate side, according to the Chamber of Commerce, The region’s real estate market will continue to expand – on both the building permit side and in home sales and value of sales. Keep up with us every month as we keep you in the loop! ”
Augmented Reality and Artificial Intelligence (AR and AI) may still be far from standard in CRE, but it’s only a matter of time. High end firms have already been using these tech tools on a grand scale. Research by Goldman Sachs estimates that by 2025, virtual reality (VR) technology alone will gen-erate over $2.5 billion in revenue. Change is happening now and could hit sooner than many of us believe, leaving some CRE pros behind and pushing others to the forefront.
5 Ways AR and AI are Changing CRE by SectorEvery sector in CRE is seeing some version of AR and AI and each sector is using these technologies in different ways to increase revenue, save costs, and streamline processes.
#1: RetailAR and AI are affecting the way that retail sells products. Some stores are trimming down to the nuts and bolts and just using AR to sell clothes, furniture, cars, and appliances. This means that retail CRE will need to be equipped for these technologies and opens up the range of suitable assets for retailers looking to save on inventory costs and physical product warehousing.
#2: OfficeIn the office sector, we’ve already witnessed the shrinking physical workforce as technology allows employees to work remotely. Add to that the move to more robotics, automation, machine learning, and AI and we could see up to 60% of the workforce disappear.
On the other hand, the same technology makes collaboration across time zones and oceans much easier. Virtual meetings and AR is slashing travel budgets for large multinational corporations. CRE professionals in the office sector will need to come up with new and creative ways to pitch assets keeping these massive changes in mind.
#3: IndustrialChanges in industrial are closely tied to the changes happening in retail. Distribution channels, man-ufacturing, and industrial buildings are all being infused with AR and AI to help speed up deliveries, improve warehouse and distribution, and save costs by reducing errors and payroll along these channels in exchange for less error and theft prone robots.
#4: HospitalityHotels are seeing enormous changes in an effort to improve guest services by replacing front desk and concierge with voice-activated AI similar to what we’re seeing from Amazon Echo. Instead of looking at brochures or calling room service, guests can just say what they need – “turn down the lights” – and the room will do it.
After a few hours, the system ‘learns’ guest preferences and automatically sets the temperature or TV channel based on AI algorithms. Those same technologies can be used in CRE to promote assets while using AR to show clients the potential for these new technologies.
#5: MultifamilyFor multifamily, AI is helping to match tenants with landlords, investors with developers, and improv-ing building management for building owners. New multifamily buildings could be filled up before construction has even begun using AR to allow prospective tenants to walk-through the space. Firms using these methods to pitch properties are going to be light years ahead of their competition.
-BRENT CASE
FROM THE CBC ATLANTIC PRESIDENT...
5 Ways AR and AI are Changing the CRE Game
Investment Opportunity in Charleston, SC Close to Sam Rittenberg Blvd.,
Downtown and I26
29 Gamecock Ave Unit 101Charleston, SC
SALE: $265,000 | 1,819 SF
THE LOOPCBC Atlantic Newsletter
MA
RCH
2018
MONTHLY REPORT Lets Connect!
3.10
.18
3.10
.18
3.11
.18
Oys
ters
on
the
Poin
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2nd
Sun
day
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A sister of Party at the Point, this once a month winter series
features locally steamed oys-ters, live music, local vendors, Bloody Mary Bar, s’mores and fun on the harbor. It is hosted on Saturday afternoons from
2pm - 6pm.
Local music, dance and visual arts studios offer stunning
performances by some of the area’s most talented individuals
and groups.
Come enjoy your Sunday after-noon shopping and socializing
on King Street!
Monthly EventsA lot has been made about the in-store shopping trends we are seeing in retail. What has largely been overlooked are the shipping trends shaping the retail landscape this year. Consumers continue to expect faster deliveries for free which is putting enormous stress on the last mile for retailers.
Instead of charging more for delivery or limiting the scope and speed of on-demand delivery, retail-ers are focusing on rethinking last mile delivery assets so that it benefits both the retailer and the consumer. Here are 7 retail shipping trends to keep an eye on in 2018.
7 Retail Shipping Trends to WatchVenture capital has been pouring into logistics over the last few years. Amazon’s on-demand deliv-ery has put a ton of pressure on retailers across the board to provide quicker and more cost effective deliveries. Even greater than the move toward more experiential shopping, we expect changes in shipping and delivery models to dominate retail in 2018.
#1: Big Data leads to Better Delivery OptionsBig data’s role in shipping and deliveries comes down to aggregating the right kind of data to meet customer expectations. When retailers better know their customers they are better able to tailor their delivery options to meet that demand. Social media, mobile apps, and online ordering services will improve the type of data captured in order to provide better service.
#2: AI Streamlines Warehousing and Distribution ChannelsArtificial intelligence is already in use at many warehouses across the country. We expect more re-gional and local retailers to harness the power of AI to streamline their warehousing and distribution channels to both provide greater customer service and to cut the costs associated with their supply channels.
#3: New Ways of Delivering Product to CustomersMobile ordering apps are on the rise. You can order Wendy’s for example and a person moonlight-ing as an Uber and delivery driver brings it to you. Expect more retailers to experiment with new ways of delivering product to customers by creating their own delivery apps.
#4: IoT and On-Demand Delivery Reduces Inventory CostsBelieve it or not, a recent survey found that AI ranked at the bottom of retailers’ highest priorities at 20%. The IoT only ranked near 35%. Considering how crucial these technologies are to revamping shipping and delivery, we expect to see those numbers to grow over the coming year as competi-tion from other retailers beginning to harness IoT and AI tech to improve customer loyalty increases.
#5: More Local Retailers Experiment with 3PL Delivery OptionsUSPS is one avenue for delivering product locally but in order to meet current demand for speedier shipping and delivery, we expect to see more local retailers experimenting with third party logistics (3PL). Particularly for same day deliveries and delivery of perishable goods, delivery options will include a combination of independent delivery companies, 3PLs, and Uber or Lyft drivers.
#6: BOPIS Challenges Online RetailersAdding to the pressure on warehousing and distribution is the move toward buy-online-pay-in-store (BOPIS) options for retailers big and small. Warehousing and fulfillment centers closer to urban centers are required to manage BOPIS deliveries which will impact the local and regional industrial CRE market.
#7: Robots and Automation Continue to Take Over Fulfillment CentersAutomation and robots that can sort, pick, and pack product make up 20% of Amazon’s supply chain, giving them a leg up on cost and efficiency. Now retailers everywhere are taking cues and investing in these technologies to improve fulfillment center operations.
7 Retail Shipping Trends We’re Keeping an Eye On
Charleston, SC 2/28/2018 - Brent Case, CCIM and Ben Diebold of Coldwell Banker Commercial Atlantic represented the Buyer, Camellia Properties SC, LLC, in the Sale of a medical office for $790,000 at 245 Seven Farms Dr. in Charleston, SC. Joseph Tecklenburg of CC&T Real Estate Services represented the Seller.
Isle of Palms, SC 2/26/2018 - Kristen Krause of Coldwell Banker Commercial Atlantic/Historical District Real Estate represented the Buyer, Equity Estates Fund, in the purchase of a 4,200-square-foot Residential - Income producing Rental property for $2,040,000 at 2405 Palm Blvd in Isle of Palms, SC.
Recent Transactions:
CBC Atlantic Team
MA
RCH
2018 THE LOOP
CBC Atlantic Newsletter
Brent Case, CCIMBroker In Charge
Mike Rose, CCIMPrincipal
Brian Aiken, CCIMPrincipal
Kip Bowman Sara Bodell
Hannah Corri James Dingle Marlena Franklin Lea Givens
Caine HalterKristen Krause Ken KoosBobby Reece
James Warrington Trey Zimmerman
Aaron Rowley
Brett Schleifer John True
Chris Cannon Neal Walsh Lisa C. Loesel
Zach Wade
Ben Diebold
3.29
.18
3.31
.18
13th
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ual “
A M
eal t
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3.25
.18
Local restaurants will be cre-ating meals with a mission at
an upcoming gala and auction benefiting East Cooper Meals
on Wheels.
Every spring, the City of Charleston and Daniel Island serve as a backdrop
to the largest women’s only tennis tournament in the world.
Monthly Events
The cat’s out of the bag – Pet Fest is back in March! Charleston
County Parks invites pets, their owners, and those in search of a new pet to a day of exhibits,
demonstrations, experts, entertainment, and more.