Savvy real estate investors and common observers need to become familiar with commercial real estate. Commercial real estate is expected to bounce back with economic recovery in the approaching years.
Knowing the styles will give you a much greater understanding of commercial construction.
This field is experiencing an evolution that supports several aspects of the economy. So which styles should you be aware of? We’re happy to explain.
Here are a few of the different types of commercial real estate that you need to know about.
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Hotels and Hospitality Properties
Hotels and other hospitality businesses make up a big part of the commercial real estate market.
These commercial buildings offer luxury and a comfortable place to sleep each night.
Travel and tourism in the United States recently raked in $1.6 trillion and was responsible for nearly 8 million jobs. This is an industry that transcends specialty, because people from all walks of life stay in hotels for numerous reasons.
Multi-Use Commercial Buildings
The construction industry has evolved, and now largely consists of multi-use commercial buildings.
By taking in more than one tenant or owner in a single property, the potential return on investment (ROI) is substantial.
Co-Location Services for Professionals
If you want to look into a wave of the future, look no further than co-location spaces. Co-location services will soon surpass $62 billion as a market.
Co-location spaces have servers and technology on-site. Professionals can open up their businesses here with low overhead costs. They share resources and have access to meeting space, reliable internet, personal phone lines, and equipment.
Various Classes of Office Buildings
Offices are still among the most common commercial structure types around.
Today’s offices are broken down into Class A, Class B, and Class C designations. These classes are separated by the cost and amenities included.
Several people are now working remotely. Office buildings still hold a major stake in the commercial real estate market. Developers are beginning to play with a variety of architectural styles and are going out of their way to design more modern and useful offices.
Clean energy is another trend to pay attention to for all of these forms of commercial real estate. Developers are starting to Secure the Section 179D Deduction and other credits.
They’re also getting Leadership in Energy and Environmental Design (LEED) certifications. Many are investing in clean HVAC systems, LED lighting, and low-flow water fixtures.
Get to Know the Types of Commercial Real Estate
These points explain the various types of commercial real estate in great detail. Study these details so that you have an understanding of commerce and real estate as a whole.
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