The rise of live/work/play real estate projects is changing the shape of retail investment properties. Mixed-use development is flourishing and in high-demand as young professionals and families seek more affordable housing options in urban areas that offer proximity to work, public transportation and other features that improve the quality of their lifestyles. These shifts create opportunities for real estate owners to sell properties that can combine commercial and residential use.
The generation of millennials who are currently entering the workforce have more student-loan debt and different lifestyle priorities than the generations before them. Their visions of renting versus buying homes, owning cars and going to work (often from home) has tremendous impact on commercial real estate development and its renewed focus on multi-use properties that include residential, retail, entertainment and green space.
However, experts agree that there is a short of vacant lots for developing these mixed-use projects in desirable urban neighborhoods w. This leaves owners of existing commercial properties with a wealth of opportunities to sell their developments when they partner with a specialized broker who can expedite due diligence, source investment funds and tax-advantaged replacement property, and structure deals in the seller’s best interests.
The professionals with Orion Real Estate Group work with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.