Technology appears to be changing the face of modern real estate investing today in the United States, including in Los Angeles. In fact, when it comes to the retail sector, technology has led to a major shift to online retail from its land-based counterpart. As a result, warehouse commercial leases are beginning to draw increasing attention compared with retail building commercial leases.
Consumers in general are starting to purchase many more items online. As the demand for online transactions grows, businesses are needing less merchandise in stores and more warehouse space. In fact, Blackstone — the biggest real estate investor on the globe — has bought hundreds of warehouses totalling more than 400 million square feet of space during the past seven years in several countries.
Los Angeles is especially benefiting from the increased emphasis being placed on technology in real estate. Job creation is one of the impacts of technology, with job opportunities booming in this part of California as well as in other states. Blackstone said it is continuing to try to anticipate where real estate technology is moving and then put capital in that area.
Whether trying to take advantage of retail or warehouse commercial leases as a business owner, the process of entering a lease agreement can be tricky. Unfortunately, overlooking essential details can end up a business owner time, money and even his or her business goals depending on the nature of the mistake. An attorney in Los Angeles can help to ensure that a business owner’s particular aims and best interests are reflected in a commercial lease before he or she signs on the dotted line.
Source: yahoo.com, “How technology has shifted the commercial real estate landscape“, Julia La Roche, Oct. 7, 2017