Buying a commercial property requires a large financial investment. Because so much money is involved, the risks are higher. You can't easily liquidate commercial property investments, so it's best to get them right.
Get to know the most common commercial real estate trends in Atlanta, Georgia, to help with your investments. Keep reading to learn them.
Hybrid Work Continues
Commercial property investments are affected by the rising trend of remote and hybrid work. Many employees are on a hybrid or fully remote schedule.
Office vacancy rates have continued to climb because of these changes in the workforce. Reduced demand in commercial offices is likely to continue in 2024. This won't be the year office markets get back to pre-2020 levels.
In November 2023, Atlanta, Georgia, was #3 for hybrid workers in the United States. Almost 40% of Atlanta residents work from home in some form.
AI in Real Estate
One of the most interesting real estate trends is AI. Artificial intelligence impacts the real estate space and is expected to reshape the industry in 2024.
AI firms can boost productivity, spur economic growth, and create jobs. These firms are driving demand for innovative office spaces, especially in the tech industry.
There is a dynamic connection between AI and the real estate sector. It wouldn't be surprising to see more ways that AI impacts commercial real estate in the future.
Sustainability Is a Top Priority
Natural disasters can cost billions of dollars for property owners. Sustainable practices in the real estate space can help prevent these problems. Sustainability continues to be a necessity for different types of commercial properties.
Local governments in Georgia have established new social, environmental, and government regulations. This has created new compliance requirements for property owners.
Some cities mandate routine energy audits. Owners and investors will have to focus on energy-efficient buildings, indoor improvement, and other green practices.
Being a sustainable property owner can also help you build strong tenant relations. Tenants are starting to care about the environment more and want their space to reflect that.
Retail Spaces Will Succeed
Owning a commercial property that can be used as a retail space is beneficial for investors. Even as e-commerce continues to rise in popularity, brick-and-mortar shopping centers will continue to see success in 2024.
Investing in real estate of this type can lead to steady performances, unchanging vacancy rates, and positive rental growth.
If you fear commercial investments because of hybrid and remote work schedules, consider retail spaces to make up for lost cash.
Commercial Property Investments: Trends to Consider in 2024
There are many trends affecting commercial property investments that investors need to understand. When you keep up with trends, you can make the best investment decisions.
At PMI Perimeter, we offer professional property management and real estate brokerage services. We can help you find commercial properties that will make you a profitable owner.
With our expertise in Atlanta, we can teach you what we know about the local area. We have more than 20 years of experience increasing the value of assets over time. Contact us today to learn more about our services.
