Commercial Real Estate Trends Over the Past Year Like most industries, commercial real estate is not immune to trends. It’s a constantly evolving area that continues to take advantage of new resources, opportunities and market activities. As different challenges and obstacles appear, new trends and solutions inevitably emerge. Explore some of the different trends our team has noticed in the marketplace over the past year: Office Spaces are Changing “Traditional” office spaces are becoming less and less desirable. Instead of highrises packed with cubicles, many businesses continue to opt for open layouts that allow for collaboration and customization. Rising Demand for Multifamily Units As baby boomers enter into retirement, many are showing a preference for rentals in urban areas. With this generation being one of the fastest-growing demographics in the country, these clients will be highly desirable as renters. Unique Hotel Concepts New hotel concepts appear everyday. From the rise of Airbnb to the success of other distinctive ideas, hotel owners and investors need to be extremely flexible while keeping a constant pulse on the market. Demands are constantly changing, and hotels need to be ready to respond. The Rise of Medical Retail Medical retail spaces are appearing nonstop and show no signs of slowing down with the COVID-19 pandemic. Whether it’s a mall, shopping center or city storefront, convenience is the main driver behind this trend.