Take a Deeper Look at Real Estate's Evolution
The core of any industry lies in its ability to satisfy needs. The commercial real estate industry is attempting to satisfy current needs, which is bringing a revolution to the real estate world. The following will highlight some of these changes and how it is affecting those in commercial real estate.
Multi-use Real Estate
One major difference in real estate worth noting is the rise of mixed use properties. There are a few examples to look at that make this a bit clearer; for one, malls want to go beyond what most people expect out of these retail centers. It is normal to see clothing stores inside a mall, and people expect a good food court in there, too, but people want more.
This is the reason developers are thinking outside the box. There are a few malls out there offering gyms, which may seem strange, but it is working. Other malls are placing grocery stores on the grounds to give people a reason to come in.
The multi-purpose retail space phenomena is going beyond malls. Commercial real estate experts are seeing that customers want their retail space to be more than just an office. Some are expecting a total live-work-play environment, offering a gym and even living quarters instead of just a simple office.
To continue reading, please head over to Leon Belov's website where this blog was originally published.
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