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The struggle of owning commercial property in the digital age

Like many consumers across the country, you have likely made numerous online purchases over the past year. Many shoppers enjoy the ease and convenience of making purchases over the Internet, having their goods delivered right to their door.

Unfortunately, while this makes it easy on the average consumer, it is not much benefit to owners of commercial property. If you are considering entering the world of commercial real estate, you must be prepared for the dramatic changes that are taking place in this digital age.

Stretch your ideas

The first change is that fewer retailers are succeeding in their brick-and-mortar stores, so many are building their online presence and closing the doors of their shops. Additionally, more employers are allowing their employees to work remotely. This means the concept of leaving home and going to work in an office is waning. What does this mean for a landlord of commercial property? Consider the following suggestions from real estate advisers:

  • Purchase properties with diverse uses, such as a plaza with a café, offices and retail space.
  • Attract tenants that you can cluster to create a one-stop experience for customers.
  • Stay current with commercial real estate trends, such as storage facilities and shared office space.
  • Look for tenants that are not in competition with online retailers, such as restaurants, hair salons and gyms.
  • Keep your properties in good condition and be flexible about adapting them for your tenants.
  • Make your commercial space memorable enough that customers will be willing to leave home to visit.

Industrial warehousing, while not a traditional investment, can be an exciting and lucrative option for tenants wanting to offer oversized storage, entertainment venues or restaurants. You may also consider getting out of retail properties altogether. Some investors are adding residential property to their portfolios or moving to residential holdings completely since people will always need a place to live.

Use your resources

No matter which direction you decide to take to keep your commercial property relevant in the digital age, you may find that networking with other commercial landlords provides you with even more options and ideas.

From the earliest moments of the process of investing in commercial real estate, you may benefit from a skilled attorney who has knowledge and experience in Texas landlord laws, land use and zoning regulations. Such an advocate can assist you at every step along the way and support you as you work to make your investment a success.

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Sergi & Associates, P.C.
329 South Guadalupe Street
San Marcos, TX 78666

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