The Changing Denver Commercial Real Estate Scene
Commercial real estate is a growing investment possibility for many people. Many believe that commercial real estate is the ‘grownup’ version of residential real estate, when in fact the laws, rules, and even requirements of commercial real estate are far different. Commercial real estate is practically a whole different world from the residential side of real estate. For one, the sale of a piece of commercial real estate is often a sale by owner, and negotiations take on complexities that only a seasoned real estate agent should handle.
Many believe that given the current Covid-19 climate of social distancing, isolation, and work at home lifestyle, many offices and commercial buildings will become abandoned towers, like ancient feudal castles that have outlived their benefits. But according to Inc Magazine’s predictions, that isn’t so. Building use will certainly evolve as our needs change.
The CDC has released stringent guidelines in regards to social distancing, airflow, ventilation, and building upkeep that commercial properties must follow. Although most people think of office buildings when they think of commercial properties, there are many other types of commercial real estate out there.
They are the towers of commerce that often are what frame “the downtown” in any city. Recently, resigned to tiny cubicles, the structure of how offices will work will change.
If you own a 2 or 3 family home that you rent out, this could be considered a multifamily unit.
Technically, apartment buildings fall under Multifamily units and house many people in one building.
Hotels are now evolving to accommodate a different kind of traveler. They are incorporating elements like Smart rooms, as well as better ventilation, going Green, in addition to changing workforce policies.
These buildings house a variety of essentials: Manufacturing, Warehouses, Assembly Plants for tangible goods, Research facilities, Production, Light Storage, Distribution buildings for shipping and handling.
These are the box stores we all love, whether it’s a charming boutique or a big brand like Walmart or Target. It’s that essential place where we buy all the goods and services. Even if consumers are favoring e-commerce and have everything from housewares to groceries delivered to their homes, these buildings will still stay standing as the need for in-person shipping isn’t going away.
The possibilities of Denver commercial real estate are endless, and not to be overlooked by investors. As life evolves so does the need for commercial real estate that meets the new needs.