Large shifts are happening in the commercial real estate market and while this massive industry may be worth more than $20 trillion, rough times for this market may be soon approaching. A major challenge for the commercial real estate market is the pandemic and the rise of remote work pushing down the demand for office spaces. Employees are spending 25% to 35% less time in the office today as compared to before the pandemic causing 15% less office space demand per employee due to home offices.
Institutional investors know that while office spaces may be low, commercial real estate as a whole is still very strong. Some professionals in the commercial real estate market sell businesses alongside their properties, helping reduce complexity and lag in deals as well as saving money by avoiding paying extra fees.
Learn more about new opportunities in the commercial real estate in Orange County NY market and the benefits of selling a business together with property here:
Source: ChessRealtors.com