New research shows that the nonresidential property industry is on an upswing across the United States. It is therefore keeping pace with the economy at large. In light of the growth taking place in the real estate sector, more investors in Los Angeles and other parts of California might want to seek out properties featuring commercial leases this fall.
According to a study, commercial real estate has seen a rise in sales volume as well as gross income. This is true for people who work in various capacities in the real estate industry, including property management, multifamily buildings, retail buildings and the brokerage area. Other areas of real estate were also reflected in the study, such as office space, industrial space, land development and sales.
Researchers noted that sales transactions have actually gone down in number during the last couple of years. However, at the same time, the market and business activities as a whole have been profitable over the past several years. In addition, median yearly incomes rose from 2016 to 2017, increasing from nearly $121,000 to $151,000.
Because properties featuring commercial leases appear to be experiencing success, investors may be wise to see what potentially lucrative property ownership opportunities are available in their areas both now and in 2019. However, in addition to finding the right properties, investors must be able to navigate their real estate transactions competently. Fortunately, an attorney in Los Angeles can guide investors through each stage of the transaction process, making sure that their rights and best interests from a legal standpoint are upheld from start to finish.