With higher standards and innovative directions throughout 2019, Industrial Real Estate Investors need to be forward-thinking and stay up-to-date with industry best practices for 2019 and beyond.
Coworking spaces have started to grow rapidly throughout the nation. Since we do not have many coworking spaces in the Pensacola area, this could be something a smart investor might want to invest in. The need for coworking spaces is projected to increase in the years to come. The Society of Industrial and Office Realtors (SIOR) is expecting that over 5,000 coworking spaces will exist across the United States and nearly 22,000 globally by the end of this year.
E-Commerce is taking over Industrial Real Estate with 267.2 million square feet of Industrial Real Estate space currently under construction and a 7.2 percent increase in rent growth. You can thank the modern shoppers that utilize the convenience of online shopping. As people trust packages to arrive more quickly, new developments will be built closer to consumers.
With the new year comes contemporary ideas, higher standards, and creative directions of thought for industrial real estate professionals. So, it’s no surprise that the industrial real estate sector is experiencing exciting changes. To keep up-to-date with this year’s innovations, be sure to consider these forward-thinking industry practices for 2019 and beyond:
Coworking Spaces Will Continue to Grow
Coworking spaces are more popular than ever before. In fact, the coworking trend is creating a booming demand for industrial real estate. The need for coworking spaces is projected to grow throughout 2019 and exponentially in years to come. If you’re not already investing in these spaces, now may be the time to start. It’s expected that over 5,000 coworking spaces will exist across the United States and nearly 22,000 globally by the end of the year.
Modern shoppers value the convenience of ease of online shopping, which is creating a large demand for e-commerce real estate space. Now, the world of e-commerce is taking industrial real estate by storm with 267.2 million square feet of industrial real estate space currently under construction and a 7.2 percent increase in rent growth. As people expect packages to arrive faster and faster, new developments will be built closer to consumers. The size of these distribution centers will continue to expand as the demand for e-commerce space grows.
Online Impressions are Everything
This year, online profiles are more important than ever. Whether you’re promoting a profile of a single agent, the brand of a massive company, or a tour of an industrial real estate building, website presentation will be a key factor for your success.
To enhance your online presence, always include informative and continuously update your content. You may even consider adding virtual or augmented reality components to your webpage. And, be sure to check out these additional tips to improve your online first impression.
Amenities are Attractive Assets
To attract tenants and employees, industrial real estate spaces will be upping their amenity game in 2019. Not only will additional features create a desirable space, but extra amenities will also help to retain tenants in the future. To impress the tenants in your industrial real estate facility, consider these items when building or reconstructing:
- Fitness facilities
- Easy parking and transportation options
- Fast WiFi
- Accessible outdoor spaces
- Lounges furnished with dining choices
As sustainable practices continue to be a focus in many sectors, industrial real estate facilities will place a larger emphasis on sustainability in 2019. Even if federal or state regulations don’t change, companies and investors are pushing the industrial real estate space toward more effective and efficient practices. Therefore, you’ll want to keep sustainable efforts in mind throughout the new year.
About the Author:
The Society of Industrial and Office Realtors® (SIOR) represents the world’s elite in industrial and office brokerage. SIORs are held to the highest standard by completing thorough requirements and adhering to the SIOR Code of Ethics. SIOR is more than a designation, it’s a symbol of excellence. It’s a reflection of a global network of more than 3,000 industry leaders driven by camaraderie and innovation. SIORs value the power that comes with building relationships and sharing ideas that are on the leading edge of the industry. They are the most trusted resource in commercial real estate. For more information, visit sior.com
SOURCE: SIOR HQ (5 March 2019) “These Industrial Real Estate Trends will Keep Going Through 2019” (Web Blog Post). Retrieved from https://blog.sior.com/these-industrial-real-estate-trends-will-keep-going-through-2019