Commercial Real Estate Trends in 2019
Upcoming Commercial Real Estate Trends
As 2019 arrives, there are numerous expected trends in commercial real estate that will shape the industry both locally in South Florida and nationally.
Below are some of the top trends to expect, and if you have any questions about how these trends will affect the local market, consider meeting with a commercial real estate attorney in Fort Lauderdale.
Growth in the industrial sector
Demand for industrial real estate rose in 2018 and it is expected to continue to rise in 2019, particularly bulk warehouses and growth was driven by e-commerce businesses as well as traditional brick and mortar businesses that are expanding into the online space.
E-commerce is expected to continue to be a major driver in this market, according to Bisnow, and the effects will be seen in South Florida and elsewhere.
Retail will not die
Although you may have heard otherwise, the retail sector in South Florida and elsewhere is not dying and continues to be a strong contributor to the economy.
What most experts say is that this sector is being reinvented, not that it is dying, and as previously mentioned, many retail outlets have taken the cue to expand their digital presence, one of the many major shifts occurring in the industry.
More online businesses going offline
Not only are we seeing more traditional businesses expanding their online presence, but we are also seeing more traditionally online businesses start to make efforts to establish physical locations.
For example, Warby Parker is opening new storefronts where customers can try on glasses. Amazon bought Whole Foods, the sneaker store Allbirds is opening physical locations, and many smaller online businesses are looking into expanding brick and mortar locations to expand their footprint.
2019 is the year in which the digital and physical continue to merge together – as the trend has been for the past few years.
What does this all mean for your particular business?
Well, if you are planning on opening a new location in 2019 or considering it, it’s always a good decision to meet with a commercial real estate attorney in Fort Lauderdale to ensure that you’re making the right decision – financially, logistically, and everything in between.
Call Mark Schecter today at (954) 779-7009, a leading attorney in South Florida with extensive experience helping both traditional brick and mortar and digital businesses find the absolute best location for their needs and assisting with multiple aspects of their transactions.