Select Page

Commercial real estate is a very complex industry when you look at it as a whole. However, there are still some fundamental and quite basic rules that you need to follow if you want to be successful in the commercial real estate industry. However, some of these so-called rules are being challenged by many of the individuals who are trying to make a start in commercial real estate. Here are some of the myths in commercial real estate that need to be debunked.

“Traditional retail brick & mortar is being replaced by e-commerce”

While giants like Amazon seem to be taking over the retail industry by moving it online, there is still a big need for brick & mortar businesses. In-person sales still account for 91 percent of the sales that go on in America. This goes to show that there are still many shoppers who like to try on clothes, see things in person, and talk to a sales representative before making their final purchase.

“Office space should only focus on efficiency”

During the crash of 2008, companies all over the world were trying to do anything they could to cut down on unneeded expenses. This led to a trend of efficient office spaces that would be inexpensive to lease and easy to maintain. However, we are more than a decade past the real estate crash of 2008 and it is time for businesses to have a much more open mind about their office space. Collaborative workspaces are becoming much more accepted in companies across many different industries. This more open type of office space allows for more connections to be made and a much more creative work environment.

“No one wants an office in the suburbs”

In the 80s, there were many offices that were based in the suburbs. These campus-style offices served a great purpose for Silicon Valley type businesses that wanted to create a strong network between their employees. However, there are many commercial real estate professionals who feel like these campus style suburban office campuses are outdated due to outsourcing. This is not the case. There are many suburban office campuses that are very successful leasing to many different businesses.

These are just a few of the many different commercial real estate myths that need to be debunked. For the commercial real estate industry to move forward, the right information needs to be known about this ever-changing industry.