Commercial property is big business. Commercial real estate can be defined as any property owned for the purpose of producing income. (i.e. stores, offices, schools, churches, gymnasiums, libraries, museums, hospitals, clinics, warehouses, and jails)
In the U.S. in 2012 it was estimated that there were 5.6 million commercial buildings occupying 87 billion square feet of floor space. Current commercial property in the U.S. is valued at around $2.1 trillion.
By 2050, commercial building floor space is expected to reach 126.1 billion square feet, a 36% increase beyond 2018.
Deloitte predicts in their 2019 Outlook that investors will be looking for buildings that are hi-tech and can rapidly meet the needs and changing demands of tenants.
While our focus is on smaller multi-use buildings, we are very interested in helping our commercial clients invest and install the right technology to make their buildings more desirable whether it be for sale or to attract tenants.