Many longtime homeowners created their Living Trust years ago when their children were younger, their financial situation looked different, or before retirement became a reality.But here’s
4 Ways To Repurpose Vacant Commercial Properties
Dated: February 21 2023
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Commercial real estate is one of the industries that was heavily impacted by the COVID-19 pandemic. A long-term shift to remote work could lead to a 10%-20% structural reduction in demand for office space.
Three commercial real estate sectors have thrived through the disruption: warehousing, distribution centers and health care facilities. This trend is expected to continue.
While the prospect of vacant properties can be daunting, there are opportunities for landlords and real estate investors — as long as they are willing to undertake the marketing, legal and financial due diligence needed to make smart decisions.
Here are four possible opportunities for reinventing how commercial real property can be used:
- Warehouse and distribution space. The move toward online shopping accelerated during the pandemic. In some locations, this created a shortage of warehouse space.
- Mixed-use property. Mixed-use properties, which offer diversified income streams, potentially reducing investment risk, provide another way to repurpose vacant properties. The shift to mixed use can take unconventional forms.
- Green building. Public interest in the environment and corporate social responsibility makes green building another attractive opportunity. Green certifications are required.
- Opportunity Zones. The Opportunity Zones created by the Tax Cuts and Jobs Act of 2017 are a possible avenue for investors.
Source: Home Actions
Arminé Ghevian
My goal is simple: a commitment to finding the dream home, purchase, or sale for my clients. With more than 25 years of experience in the real estate industry & the Los Angeles County market, my t....
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