Commercial real estate is a business that’s all about location. That said, CRE developers and investors always need to keep up with the latest market ratings to fuel success amid the changing tides.
The start of a new decade means that everyone in the industry is busy formulating their new strategies to navigate the markets, and nothing enhances this process like strong analytics. According to data and research conducted by PWC, these are the best commercial markets to watch in 2020.
Make sure that these 5 top-rated cities in the United States for commercial real estate are on your list.
Austin came in first place on PWC’s list of top cities for commercial real estate investments. This Texan hotspot is a highly-rated 18-hour city that’s been gaining the attention of global and national investors. Austin has been rising in esteem lately and it’s improving in all-around CRE prospects.
In the United States and beyond, there’s no place that’s quite like Austin. The local community’s entertainment, art, and metropolitan amenities make it a city to keep an eye one.
Raleigh-Durham, North Carolina
Second place went to Raleigh-Durham, the two cities are some of North Carolina’s most popular locations. The two sectors that have seen the most growth and development in their office and multifamily markets – so CRE pros should pay some extra attention to these thriving arenas.
Raleigh-Durham is renowned for its esteemed and prestigious educational facilities, such as the University of North Carolina and Duke University. Investors are paying a lot of attention to Raleigh-Durham’s developing prospects as a popular tech hub.
The growing number of tech companies calling Raleigh-Durham home are fueling growth in the local office and multifamily markets.
Tennessee’s metropolitan gem, Nashville, made third place on PWC’s list. This marks substantial gains from last year’s rating of fifth place. Nashville is steadily climbing the ladder and elevating the city to top-tier status.
Investment and development can thrive within this 18-hour city, so don’t count Nashville out. Pay special attention to the local retail scene as well as the entertainment industry since Nashville is a renowned destination for both recreation and tourism.
Charlotte, North Carolina
Charlotte was rated 4th in overall commercial real estate prospects. This city is gaining loads of attention from start-ups and companies looking to take their business to the next level. According to the report, Charlotte’s recent economic expansion is attracting manufacturing and technology firms.
The city has experienced two solid decades of growth, so investors should pay special attention to Charlotte’s commercial real estate market.
What Boston lacks in size and population density is made up in quality and experience. Boston’s astounding economic performance has been catching the eyes of commercial real estate investors and developers since 2019.
The real estate market in Boston is fueled by the local area’s vast opportunities for education and business.
Investors and developers should apply these commercial real estate data insights into their 2020 strategies. Commercial real estate professionals need to keep a sharp eye on these 5 cities brimming with investment opportunities.