Retail commercial real estate has had an unusual year. The outlook for 2021 is hopeful, thanks to the vaccine. Fortunately, commercial real estate in Oklahoma has not faced the same level of uncertainty as some other areas.
Commercial Real Estate Outlook Next 5 Years
The best commercial real estate markets will be better in areas with fewer restrictions that fully open back up earlier. Additionally, any stimulus will play a critical role in the real estate market recovery.
The commercial real estate market outlook is complicated but still a solid investment when done correctly.
While some retail commercial real estate has struggled, the need for others has grown. These include:
● Big box stores
● Grocery stores
● Data centers
● Science labs
The commercial real estate outlook next 5 years for offices is divided. The pandemic revealed that many people could do their work from home. Do not, however, count office spaces out just yet. Working as a team is much easier to do in-person. Businesses might keep their space slim, but they will still need office space.
One of the best commercial real estate markets is warehouses. The growing demand due to online shopping will only increase the need for available warehouse space. The demand will be even higher in areas projected to grow like Oklahoma.
As we examine recent trends, there are a couple of things to consider. Take out dining has given rise to the need for ghost kitchens. These spaces are basically catering kitchens where
people can cook food strictly for delivery, reducing the risk that full restaurants face.
Last-mile distribution is very important in the commercial real estate market outlook. These are the final sorting centers for deliveries. The space is essential, particularly for larger retailers in dense populations.
If you have any questions about commercial real estate in Oklahoma, please reach out. Our team pays close attention to the market trends to guide you to the very best opportunities for investment and growth. We are always looking out for our clients’ best interests, whether you are ready to invest or you need the best possible price for a property you already own.