The commercial real estate market as a whole is worth over $20 trillion, but higher interest rates and less office workers is creating uncertain times for this market. Employees are spending 25% to 35% less time in the office than before the pandemic causing the demand for office space to drop. Office vacancies have started becoming much more common; in the San Francisco area, office vacancies have more than doubled since the beginning of the pandemic.
But commercial real estate as a whole is still strong, and smart investors are seeing the opportunities brought by uncertain times. In Manhattan, luxury brands such as Givenchy, Gucci, and Hermes have acquired new retail spaces. Some commercial real estate professionals also sell businesses along with their properties, helping save time, money, and effort for everyone involved. Selling a business and property together saves time by getting them simultaneously appraised, eliminating lag between sales. Selling together also provides better flexibility, privacy, and negotiation power as well as saves money by avoiding paying twice for a number of fees.
Learn more about the future of the commercial real estate market and the extra value you can get from selling your business and commercial real estate together here.
Source: ChessRealtors.com
