The life science world is expanding like never before across the United States, including in New York. Biotech is especially growing as drug companies join startups as well as incubator labs to facilitate new research. A particular sector of the economy that is benefiting from the current popularity of the life science industry is commercial real estate.
Nonresidential property investment has long been considered a great idea in New York and other parts of the United States. The question is whether investors should still view commercial real estate as a viable option in 2019. According to industry experts, they should for a number of reasons.
Artificial intelligence, commonly called AI, is impacting several sectors in New York and other states. For this reason, it may not come as a surprise that it will likely affect the world of commercial real estate as well. Based on real estate experts, AI may end up being helpful for investors and other market players by making the industry more profitable and service oriented.
The economy in the United States, including in New York, is cooling off at the moment. For this reason, investors may start to see more vacant properties available for purchase. A couple major factors contribute to the creation of vacant commercial real estate properties in particular.
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.
Recent research revealed that the property industry has been flourishing in recent years in New York and other parts of the United States. In a sense, it is reflecting the condition of the current economy as a whole. Based on this, now may be a wise time for people to consider investing in commercial real estate if they have not done so already.
New York investors with experience in the residential property industry might want to quickly make the switch to the nonresidential side of the industry. The reason for this is that buying commercial real estate offers several advantages over purchasing residential properties. Here is a look at how commercial real estate differs from residential real estate and the unique perks that come with it.
Investors throughout the United States, including New York, are increasingly searching for authentic and unique offices in buildings that are older. After all, these commercial real estate properties have architectural character. However, the challenge with these buildings is that incorporating cutting-edge technology into them can present a challenge.
Technology is impacting how professionals in a variety of industries in New York operate nowadays, including those who own and lease nonresidential property. In the commercial real estate world, the specific type of technology that is starting to gain ground is called proptech. Here is a glimpse at what proptech is and its potentially far-reaching impacts in the future.
Individuals in New York usually view investing in residences as the same as investing in business properties. In reality, these two types of investing are very different. Here is a glimpse at what makes residential real estate and commercial real estate investing so different in New York and elsewhere.