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» Trends in Commercial Construction
Just as the 1970's and 1980's brought a significant improvement to the accessibility in public buildings, look for the coming years to increase that accessibility quotient in both public and private buildings. Investing in commercial real estate requires a keen sense of the current and future needs of a population, just as investing in residential real estate. Look for buildings with accessibility for handicapped and elderly, as well as accessibility for strollers and limited mobility persons. There is a difference between finding a building that will fill an office space need in an area and one that will fill that need while complying with current and anticipated increasingly demanding regulations for accessibility.
When investing, look for buildings that will not require costly retrofitting to meet the needs of the 76 million Baby Boomers who are moving at breakneck speed toward their golden years, complete with the limited mobility that aging can entail. Look for accessibility and accomodations for an inreasingly overweight population as well. Take time to review pending regulation and look to see what might be coming down the pike. Consider retrofitting costs for those regulations you believe might pass while you are the owner of any commercial, industrial or investment residential building. It could make the difference between profitability and lack thereof.
