Missouri residents may be interested in knowing that the commercial real estate industry is valued at $12.6 trillion. However, this figure doesn’t mean that the industry operates in a manner befitting the year 2017. This is beginning to change since software companies Hightower and VTS agreed to a $300 million merger. The two companies will use the VTS name, and it will help real estate professionals manage both the sale and lease of their properties.
The advent of new companies such as 42Floors and SquareFoot will make it easier for those looking for commercial space to find what they need. Both companies specialize in aggregating listings while SquareFoot will help a business through the entire leasing process. The company also makes it easier for potential tenants and property owners to communicate and schedule tours.
Cadre may offer a solution for those who are looking for capital to begin a new commercial real estate project. It claims to offer an efficient way to connect them with those looking to invest in new projects. RealtyShares and Fundrise are crowdfunding firms that enable groups of investors to combine their resources to finance real estate projects. Companies such as Reonomy use big data to help individuals make better decisions as to what projects they choose to allocate resources to.
Anyone involved with a commercial real estate project may wish to talk with an attorney. Doing so may make it easier to ensure that land use and zoning laws are followed. Consulting with a lawyer may prevent a legal challenge from delaying or preventing a building from being developed or used as a tenant or property owner wants to use it. However, if a dispute does arise, legal counsel may be able to protect an individual’s rights during the resolution process.