With a growing number of employees working from home and 96% of people shopping online, protecting your commercial investment property is more important today than it has ever been.
Keeping commercial renters is becoming increasingly difficult, as more and more retailers shutter their doors to move toward an online profile. You need to think on a smaller scale and provide new ways to entice companies to stick with you even as times get lean for brick-and-mortar locations.
Twelve members of Forbes Real Estate Council share some of the ways commercial real estate investors can protect their properties in an age where a growing number of people shop online and work from home. Here’s what they had to say:
1. Invest In Properties With Multiple Uses
I think it is important to invest in properties that have multiple uses. I own a strip mall with a grocery store, restaurant, coffee shop and office space. There will always be a need for certain commercial space. Investors get into trouble when they have a property with one user who has a very specific use. – Mark Ferguson, InvestFourMore
2. Position For The Small Footprint
Landlords are now faced with the end of the big-box comfort. Space in shopping centers must look toward smaller space offering. These must be geared toward strong specialty offerings and lifestyle uses. Traditional retailers will utilize space, just less. Making properties more tech capable helps immensely. Proper tenant clustering is paramount in the repositioning. Management keenness a is must. – Michael J. Polk, Polk Properties / Matrix Properties
Continue reading full article on Forbes.