Understanding Different Types of Commercial Real Estate
What is Commercial Real Estate and What are the Different Types of Properties that Fall Under this Category?
Commercial real estate is any land or property that is used for commercial purposes. This includes office buildings, industrial parks, retail stores, storage facilities, and hospitality properties such as hotels and data centers. Each type of property has its own unique characteristics and requires a different approach when it comes to development and management. Office buildings, for example, are typically leased to tenants on a long-term basis, while retail properties are often owned outright by the businesses that occupy them. Industrial parks may be leased to multiple tenants or owned by a single company, while data centers are often owned by technology firms or other enterprises that require a high level of security and reliability. Regardless of the type of property, all commercial real estate must be zoned appropriately and meet all local building codes.
Office space - what to look for when considering an office lease, things to consider when setting up your office
Creative office space is often more expensive than commodity office space, but there are many factors to consider when making your decision. The first is the type of business you have. If you have a creative business, such as a design studio or an advertising agency, you will need an office that reflects your company's image. A creative office space will have high ceilings, plenty of natural light, and exposed brick or beams. It should be open and airy, with plenty of space for collaboration. If you have a more traditional business, such as a law firm or a financial services company, you can save money by choosing a commodity office space. These offices are typically found in business parks or office towers and are usually outfitted with basic amenities, such as carpeting, lighting, and air conditioning. The important thing to remember when choosing an office space is that it should reflect the culture of your company. You want your employees to feel comfortable and productive in their workspace, so make sure to choose an office that meets your company's needs.
Retail space - how much space do you need, what are the benefits of having a retail storefront
The amount of retail space you need will depend on the type of business you are running. For example, a small convenience store may only need 1,000 square feet, while a large department store can require up to 100,000 square feet or more. There are several benefits to having a retail storefront, including the ability to control your brand identity, build customer loyalty, and generate foot traffic. A retail storefront can also help you stand out from the competition and attract new customers. However, there are also some drawbacks to consider, such as the high cost of rent and the challenges of managing a physical space. Before leasing retail space, it is important to do your research and consult with experts to determine if a retail storefront is right for your business.
Industrial property - Warehouses, Distribution Centers, Manufacturing
Warehouses and distribution centers are an important part of the industrial property landscape. They are used by logistics companies to store and manage inventory, and by manufacturers to store raw materials and finished products. Warehouses and distribution centers are typically large buildings with high ceilings, deep docks, and wide loading bays. They are often located near transportation hubs, such as airports or railways, in order to facilitate the movement of goods. Manufacturing facilities are another type of industrial property. These buildings are used for the production of goods, and they typically feature assembly lines, storage areas, and offices. Manufacturing facilities are often located in industrial parks or zones, in order to take advantage of access to raw materials, skilled labor, and transportation infrastructure.
Self Storage Space - Mini Storage, RV and Boat Storage, Yard Space
If you're in need of some extra storage space, there are a few different options available to you. Mini storage units are a popular choice for those who need to store items on a long-term basis. These units are typically climate controlled, which helps to protect your belongings from the elements. If you're looking for a place to store an RV or boat, there are many storage facilities that offer outdoor spaces specifically for these vehicles. And finally, if you have some extra space in your yard, you can also rent out this space to people who need a place to store their belongings. Whatever option you choose, self storage can be a convenient and affordable way to get the extra space you need.
Specialty properties - hotels, healthcare facilities, data centers
Specialty properties are designed to meet the specific needs of their guests or occupants. hotels, for example, typically feature amenities like on-site restaurants, fitness centers, and business centers that are geared towards business travelers or vacationers. Healthcare facilities, on the other hand, must meet strict state and federal regulations regarding infection control, patient privacy, and disability access. Data centers also have unique requirements, such as security systems and backup power generators, to protect sensitive equipment and data. While each type of specialty property has its own challenges, all must provide a safe and comfortable environment for their guests or occupants.
What Type of Commercial Real Estate is Right for You?
When it comes to commercial real estate, there is a lot to consider in order to choose the right property for your business. It is important to first understand what types of properties fall under commercial real estate and then evaluate which one would be the best fit for your company. This blog post has provided an overview of some of the most common types of commercial real estate: office space, retail space, industrial property, self storage space, and specialty properties. Now that you have this information, it's time to decide which type of property is right for your business. Give us a call today and our team of experts will help you find the perfect commercial real estate solution for your needs whether you’re a tenant or looking to invest.