The economy is currently growing and is continuing to stabilize. As a result, those who buy properties featuring commercial leases are expected to fare well. Sellers of commercial real estate in Los Angeles and elsewhere should likewise thrive in the current commercial real estate market.
Interest rates have a lot to do with the success that many commercial real estate buyers and sellers are experiencing today. With today’s lower rates, buyers are paying lower monthly payments. This means they can more easily purchase more property. At the same time, having lower interest rates means that buyers can pay more, which is good news for sellers. In addition, the economy continues to grow, thanks to today’s low unemployment.
The commercial property market is also flourishing, due in part to the fact that the residential real estate market is thriving. Many new commercial developments are being residentially pushed. After all, many millennials desire homes downtown, where they can enjoy urban living, but they also desire easy access to various amenities based on their live/play/work mentality.
Now appears to be an ideal time to jump into the commercial real estate market in Los Angeles and elsewhere. Of course, navigating a transaction involving a property featuring commercial leases is nothing like going through a residential real estate transaction. A lack of understanding about how to complete commercial deals can unfortunately cause a person to lose out on an excellent real estate opportunity. Fortunately, an attorney in Los Angeles can provide real estate buyers and sellers with the guidance they need to seal the deal with confidence and protect their best interests each step of the way.