The Future of Commercial Real Estate
The commercial real estate landscape was already being influenced by innovation and technology when the world was hit by COVID-19. The pandemic only accelerated this market trend. With buyers, sellers, and renters having a totally different approach to finding commercial vacancies, property owners are forced to rethink and adapt to a new way of doing business. Let’s take a look at what the future holds for the commercial real estate market:
Most Significant Changes
The notable shifts in people’s shopping habits to digital platforms doesn’t mean that physical retail centers, shopping centers, or strip malls won’t exist at all. For many day to day items, people are not willing to give up in-person shopping experience, and are returning to malls as the pandemic scene gradually fades. The implications suggest that investors would prioritize brick-and-mortar commercial locations that offer curbside pick-up locations and drive-throughs.