Source: Forbes —
In this article, I wish to explore the rapidly evolving world of commercial real estate (CRE) and point out current trends and opportunities occurring in this massive industry going forward. It includes a few surprises for some, and simple confirmation for others (a refresher of sorts).
My intent is to share such observations for the benefit of a wide range of CRE professionals, including those from portfolio managers to brokerage, from property management to development and investment. Plus, corporate real estate VPs/directors.
As for me, I’m a 15-year CRE veteran with a specialty in industrial real estate (IRE) on the West Coast. I’m part of a 50-year family tradition in the industry and spent many hours as a kid inside my father’s office. Also, I’m a Certified Commercial Investment Member (CCIM) and a Society of Industrial and Office Realtors (SIOR) member associate.
Bottom line, CRE is a critical and evolving aspect of our economy, shaping the physical and economic landscapes of cities and communities, in the U.S. and beyond. It provides spaces for businesses and organizations to operate and for people to live, and it generates employment opportunities and contributes greatly to local economies.
The CRE industry has undergone significant changes in recent years, driven by many issues listed below, where we’ll highlight the most interesting, impactful and somewhat surprising aspects of those changes. While not covered here, uncertainty with the economy certainly plays an impactful role going forward.
1. Impact Of Technology On CRE
The incorporation of technology in the CRE industry has been revolutionizing the way properties are bought, sold and managed, making the process more efficient and accessible. Stay current or else. AI and blockchain are rapidly transforming every industry, including the CRE industry. Proptech, as many call it, is bringing new levels of efficiency, accuracy, profitability and accessibility to the entire real estate market. Including risk and fraud avoidance.
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