Investors in New York may understandably be gearing up for the year of 2019, which includes planning ahead for the future. Naturally, they may wonder whether commercial real estate remains a solid place to invest their money and, if so, what kinds of real estate assets are the best choices. According to experts, distribution centers and data centers remain among the most in-demand types of real estate in which to invest.
Distribution centers are particularly popular because digital retailers rely heavily on them for their merchandise. In fact, over 60 million square feet of new assets entered the market during 2018’s third quarter. This is an increase of almost 11 percent from 2017. Still, the vacancy rate stayed low at just under 5 percent. Also, asking rents rose almost 6 percent.
Data centers are also popular right now because cloud users rely heavily on them. These centers are in demand globally but also nationally, with more than 170 megawatts being absorbed this past year. In fact, investment transactions valued at billions of dollars took place during the year’s first half alone.
Choosing the right place to invest one’s money can certainly be challenging, but commercial real estate overall appears to carry great promise for investors. Still, individuals who have little experience with the process of buying commercial property may end up making costly mistakes, even causing potentially lucrative deals to fall through. Fortunately, an attorney in New York can help investors to make informed decisions during their transactions and ensure that their legal rights are protected from beginning to end.