In these uncertain economic times, with real estate prices on the rise, many cities and towns are experiencing a glut of empty commercial rental spaces. This is partially due to the new hybrid work model that companies learned to embrace during the COVID pandemic. But there is some promising news, as you will see in this video that addresses current commercial real estate trends.
Zoning law changes are being implemented in many municipalities to allow for more creative use of commercial space.
For instance, some office buildings are being converted into mixed-use occupancies with retail at ground level and apartments on the upper floors.
Another really interesting trend is property owners leasing out office space for use as film studios for movies and television. And, one of the best uses of commercial space is for indoor pickleball courts, which might be the most popular sport today.
Commercial real estate has definitely been going through some changes post-pandemic. Landlords and commercial real estate property owners are becoming extremely creative when it comes to sourcing tenants for their buildings. This could definitely bring more people into urban areas and appears to have an exciting future for revitalizing cities and towns.
