Formula 1 has turned the eyes of the world onto growing American cities. With eyes comes tourism, and with tourism, comes infrastructure, jobs, and growth. F1 has smartly partnered with American cities destined for growth, and tech companies have followed suit.
With property values at all-time highs, unemployment at all-time lows and the stock market still holding strong, the question on everyone’s mind is where we go from here. Everyone has their own mindset of the current commercial real estate (CRE) market and where it is headed but nobody knows or can predict what’s next. The reason is that the world is extremely different today than it has ever been.
For the foreseeable future, it seems industrial will remain a hot market segment especially in areas that have high demand and limited land supply. As our society becomes more dependent on technology, so does the need for distribution centers and warehouses. It is important for big companies such as Amazon and Zappos, to have footprints in areas to service densely populated urban areas such as NYC.