Commercial property is one of the hottest commodities in the real estate market in the present day, growing to meet the changing paradigms of modern business. The increasing need for commercial real estate in 2018 along with higher than expected prices put a lot of companies in a pinch. After all, they want to get their hands on properties that are going to allow them to grow their businesses.
In this case, it’s not necessarily office buildings or retail properties that are driving the demand for more effective commercial property sales techniques, but industrial properties. These industrial properties have seen a massive uptick in both price and desire from various companies in recent years. From 2014 to 2018, the CoStar Commercial Repeat Sales Index demonstrated almost 75% growth in demand for industrial properties from corporate entities looking to expand their growth. Meanwhile, the price for industrial properties went up 8.5% in 2018, growing incredibly fast as the commercial properties are being bought to aid with the internet sales companies. These properties are being turned into warehouses, shipping centers, and storage for companies that are now offering internet delivery, and that demand alone is driving this area of real estate forward.
That is not to say that other areas of commercial real estate aren’t experiencing growth. While property sales for retail outlets are shrinking from the closure of some of the major brands out there like Sears, retail only shrank in price by 1.4% while only losing about 3% in the CoStar Commercial Repeat Sales Index. Office buildings continued a steady growth in both price and property volume after shrinking in 2017, pulling the overall commercial properties out of the late 2017 slump.
While commercial real estate is experiencing an overall boom in demand, there are a lot of sales that are being left on the table. One of the issues is that new corridors for shipping and storing are being developed without the necessary infrastructure to allow for informed sales to take place. As typically happens, there has been a new push to introduce novel sales tactics that allow for quick and simple settlements on commercial sales properties.
Most notably, Upflip has emerged an launched a new online sales service that is designed to connect companies in search of property with quality real estate even if they do not have assets in the area to examine them. Upflip is in a beta stage at the present time, working to help full-sized companies as well as entrepreneurs identify and put in offers on real estate that has all of the features that they need. Price, location, lease data, and information pertinent to commercial sales are all available on this site. It’s highly useful for all forms of property including apartments, retail, online businesses, and commercial lands, so there is something for everyone.
All in all, the demand for commercial properties has necessitated a change in the way that sales are conducted, and this site is making it happen.