Are You Looking to Develop Commercial Property?
The narrow two block tract of land has sat empty for the last two years. What was once the location of a thriving lumber company in the middle of the community became an eyesore when the owners purchased a new location five miles away. The lumber company offered to donate the land to a group of developers who planned to create a new mixed use development, but the plans were significantly delayed during the mini recession that affected most of the nation.
Finally, after two years of looking like an abandoned lot, a commercial property development company is moving forward with their new plan to revitalize the area. Three different elevator shafts were the first structures constructed, serving as an indicator of the commercial development to come. The plans for a combination of upscale apartments, shopping, office space, and a community green space has everyone talking.
In the year 2014 alone, many areas like this empty lumber yard began to take on new life. In fact, the revenue from property management in America reached an impressive $69 billion that year. While many community leaders have big dreams, it often takes the planning and investment of a commercial property development company to make these dreams materialize into a reality.
It is most often management companies who are finally able to create a mixed use plan that will convince other investors that the reward is worth the risk. These commercial property development company plans show a group of investors how to maximize the return for the initial investment. Property owners and other investors become confident that by building valuable office and retail space they can not only increase their holdings, but also create profit generating leases that will in turn encourage even more development.
Investment sales for many commercial properties across the country began to show growth by rising more than 10% in the first quarter of 2015. Financial experts also predict that industrial rents will experience at least a 3.1% gain by the end of the year 2015.
Land investment is often a risk, but the best commercial property development company leaders can correctly forecast the need for new development and the needed locations. It is these companies who can help communities move from a former lumber yard location to a thriving urban shopping area that also includes residential living, office space and community performance and gathering areas. If you are looking for a new investment opportunity, a property management company can help an individual or a group find a location and plan for its new purpose, while creating for you a profitable mix of lease and rent income.