The American real estate market is notoriously temperamental and prone to change, and that is even more true for the commercial real estate market. Because the commercial real estate market is inextricably linked with the state and trends of the economy, there are even more factors at play in determining which industries are expected to thrive and need more real estate, and which are expected to shrink. Because of this, if you are considering finding commercial real estate for your business or enterprise, we recommend reading this blog first, because the team at NAI Isaac are here to tell you about commercial real estate industries for 2020 near Lexington, KY.
Commercial Real Estate Industries for 2020
The American economy, as well as the world economy at large, is in some shaky territory right now, and with the continued dominance of e-commerce, more and more industries are being driven out of brick and mortar locations and solely onto the internet. One industry that will always need physical space, and is continuing to grow, is healthcare. The American population has increasingly complex healthcare needs that are necessitating expanded healthcare services and, of course, more healthcare spaces to meet those needs. Additionally, healthcare is one of the fastest growing industries in terms of staffing, which further reinforces the need for more and newer commercial real estate to accommodate the new healthcare workers that are entering the field.
The proliferation of online delivery services that will bring food right to your door may have you thinking that the culinary industry is in decline, but in fact it is simply changing. Americans still love eating out, but now are more likely to seek restaurants, bars, and cafes that offer unique experiences that simply can’t be found through delivery service alone. Commercial real estate can be a great way to make your restaurant or food service enterprise unique, giving you an opportunity to figure out how to make your space enticing to the ever-growing population of Millennial spenders. Millennials in particular are looking for spaces that not only are pleasant to be in, but which could also result in appealing social media content, so if you are thinking of purchasing or leasing commercial real estate for your food service business, we recommend going all out.
With whispers on the wind about a possible new recession, Americans are starting to be more cautious about how they spend their money. Because of this, some of the fastest growing sectors of the economy are those that prioritize economic value and thriftiness. Discount retailers, thrift stores, and anywhere that allows spenders to make the most of their dollars is sure to be a safe investment for you as well as for your customers. When it comes to deciding whether you need commercial real estate for this year, be sure to think in terms of value, because that is what your customers are likely to be thinking of.
To learn more about commercial real estate industries for 2019 near Lexington, KY, contact NAI Isaac today. We are conveniently located in Lexington, KY, but we also proudly serve the surrounding area.