December 16, 2016

Startups And Changing Demographics: CRE Market

Commercial Property For Lease Westchester NY

The trends of tomorrow are here and we are now witnessing how they’ll reshape American society as we know it. The commercial real estate (CRE) market, along with most industries of the 21st century in America, is in the midst of a transitionary phase. We will see how this transition plays out in the years to come. Here are a few things you can expect to see more of in the CRE industry during the upcoming quarter. If this topic interests you and you’d like to learn more, you can contact the 30 years strong commercial property for lease Westchester NY company Rakow Group for more information.

Technology

To make a long story short, information is simply more transparent and available. That’s no secret. But it’s worth noting the degree to which IT precipitated into virtually every single industry on the planet. Commercial and home real estate is no exception. Optimized CRE data and listings are already at the fingertips of the most reliable real estate brokers.

They will soon also be accessible to the customers. This is likely to lead to an increase in customers leasing property online. The Internet will make commercial real estate shopping and leasing more cost effective. That’s because it allows players to perform transactions in real time. As customers empower themselves with greater access to data, brokers will have to innovate new services to remain afloat. In other words, real estate companies will likely invest more in IT and look to collaborate with startups to a much greater degree.

Demographic Shifts

Speaking of startups, the increase in small innovative companies in select urban regions of the country, namely San Francisco and New York, has led to mass migrations of ambitious young talents. Startups tend to employ millennials. But let’s not forget that it’s also mostly millennials who run the companies.

Despite some concerns over the upcoming shift in the political climate, pundits are saying that politics will not prevent the startup industry to pack up and leave. At least not immediately. In the meantime, what you can expect are more millennials opening up more offices in technologically savvy parts of the US.

Meanwhile, baby boomers are slowly but surely reaching retirement age. Albeit, with the greatest healthcare system in the world, people stay healthy much longer and retire later. Nevertheless, more and more of those progressive millennial workers’ parents have got their eyes on cocktails in Hawaii instead of on renewing the leases.

What Do These Transitions Mean?: Time Will Tell

How these transitions will influence the real estate market we have yet to see in its entirety. In any case, it’s safe to say that most millennials have different values than those of their parents. They also have different preferences, and this will likely have an impact on the trajectory and nature of the CRE market. The best thing that you can do is to keep your eye on the prize and surround yourself with people know what they’re talking about. Rakow Group has all of the expertise you’ll need not to get scammed by an industry in flux. Find out about how a commercial property for lease Westchester NY company like Rakow can help you and your company flourish by calling (914) 422-0100 today.

Commercial Property For Lease Westchester NY


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