Façade+Envelope specializes in the inspection and recommendation of solutions to structural problems in commercial buildings. We are often asked to advise on commercial real estate, including residential high-rise buildings, banks, hospitals, hotels, retail stores, office buildings and shopping centers. The year of COVID-19 has influenced commercial real estate and decision-making. Keeping this in mind, we compiled some 2021 trends.
Social distancing and the increase of touchless interactions has accelerated the desire for smart and touchless amenities. Employees in office buildings prefer to control their environment with apps rather than touch. Commercial properties with this technology will be in higher demand than ever before.
Consumers are more concerned with disinfecting than ever before. Curb appeal is always a huge factor in real estate. Well-maintained locations with clean floors and surfaces and fresh landscaping instill confidence in people wanting to purchase or rent commercial property.
Rental property amenities
The demand for amenities in multifamily rental properties has increased with so many employees working from home. Renters are looking for their properties to be true residential communities with on-site dining options, co-working lounges, and fitness centers.
With people working from home, there are new opportunities in commercial real estate. Commercial owners who want to expand their holdings are finding vacancies in high-traffic areas that were not there before.
Warehouse and storage
Some of the best uses for those high-traffic areas are warehouses and storage spaces. This need intensified after COVID-19 increased the popularity of online shopping. Growing e-commerce businesses need to store more inventory to keep up with demand.
As Forbes.com points out, there is still a tremendous amount of uncertainty regarding the commercial real estate market. Commercial sectors that continued to perform well during the pandemic include e-commerce warehouses, self-storage facilities, some grocery stores and medical or retail spaces. Even after the pandemic, these spaces will continue to flourish and will be good investments.