Commercial Property Trends in 2018
harkins / January 8, 2018
As we close another year, it’s full speed ahead for commercial property business. 2018 Trends for Commercial Property will continue propelling technology and innovations. All changes adapt to consumer demands for fast service and employer needs to do business better.
Forced Innovation for Retail Space
Property owners will continue having to come up with new ideas for their retail spaces. As internet sales continue to grow, many store owners continue trading in their brick and mortar for a web domain. Millennials, who are becoming the majority, are responsible for these changes. They frequent entertainment and food venues and leave the shopping for online.
Changes in Office Operations
Two big things are happening in offices. Co-working spaces and incubators continue to be successful around the nation. Remote workers and small businesses still need to connect and be apart of a community. They also want a working space away from home and the coffee house that doesn’t absorb their budgets. That continues to drive demand for these entrepreneur-driven spaces.
Productivity continues to be a critical asset for businesses of all types and sizes. Commercial property owners have taken notice and are making changes this year. New and remodeled office spaces will promote productivity. The design will do away with old, huddled away cubicles. It focuses more on open spaces that promote interaction and sharing ideas. The new working spaces aim to put employees closer to the tools they need to get their jobs done.
New Tax Laws Shift Funding Sources
Depending on which way tax laws go, it could mean increased costs of doing business in real estate. That means traditional investors may be less likely to buy in. Fortunately, private and non-traditional lending is still on the rise. Crowdfunding and peer-to-peer funding may pick up the slack in 2018 for commercial property business.
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