From left, Rachael Orlando of Retail California, John Kourafas of Visintainer Group, Charlie Schuh of Colliers International and Tony Cortopassi of Cushman & Wakefield discuss commercial real estate trends at the Fresno County EDC’s annual Real Estate Forecast at the DoubleTree Inn in downtown Fresno on Thursday. Photo by Gabriel Dillard
“I hate it,” said Charlie Schuh with Colliers International, when the subject of artificial intelligence came up at Thursday night’s Fresno County EDC Real Estate Forecast.
He was joking — mostly. His real take was more measured and more pointed: as AI-generated communications flood inboxes and deal files, people notice. “The value diminishes of the person who it is coming from,” he said. “Don’t overdose on AI. You will make yourself less valuable.”
His fellow panelists talked about its practical uses. Tony Cortopassi of Cushman & Wakefield sees it as an efficiency tool — useful for lease review and data processing, not worth getting bogged down in manually. John Kourafas of Visintainer Group uses it with checks and balances, finding it helpful for underwriting. Panel moderator Rachael Orlando of Retail California maps client tour routes and plans itineraries with it.
Rally for the Valley
The annual event at the DoubleTree Inn in Downtown Fresno carried the theme Rally for the Valley. EDC Board Chair Ed Dunkel of Precision Civil Engineering, in Bulldog red, opened the evening in conversation with Fresno State Athletic Director Garrett Klassy and football coach Matt Entz.
Klassy’s had a direct appeal for business owners to partner with athletes. Fresno State is done making bad partnership deals, he said, and companies can now advertise using the university’s intellectual property.
Last month, Fresno State Athletics announced the launch of Bulldog Sports Enterprises, a multimedia rights agency, changing a decades-long partnership with Learfield Sports.
Rents up, demand soft
The four-broker panel – one of several — covered major commercial sectors. Schuh noted industrial demand has softened and buyers are more selective, suggesting the industry consider a wider range of tenants at lower price points. Cortopassi said office rents are up — but only because of inflation, not organic demand. The top amenity, he said, isn’t parking or views. It’s safety: submarkets where tenants feel comfortable walking to and from their car. ADA compliance ranked high as well.
Orlando reported retail rents at historic highs in centers anchored by national tenants, with new developments including Heritage Grove and Loma Vista in the pipeline — but demand has softened.
Who pays?
The triple-net lease structure is under fresh scrutiny as shifting property taxes, insurance and maintenance costs raise the question of whether tenants can absorb them.
A 2026 Coldwell Banker Commercial report notes that hybrid structures, where landlords and tenants now split maintenance costs, are increasingly common as owners compete for creditworthy tenants.
Off the sidelines
Kourafas was optimistic. Investment transaction volume is up 52% after two quiet years, with the recently purchased Cedar Tree Village drawing seven offers. “There’s been a lot of money on the sidelines,” he said. His advice to property owners: don’t sit on a decision passively. “Holding is a decision that should happen on an annual basis.” And when you list, know your property cold. “Don’t let a buyer figure it out for you.”