Commercial real estate investors in Missouri who like to remain current on real estate trends may benefit from knowing the southeastern part of the United States is becoming an economic leader with a varied commercial real estate base. With the cities of Atlanta and Miami, making up over 50 percent of the area’s international commercial real estate investments and the educated work forces and strong growth in smaller cities, including Nashville, the Southeast would be able to form the world’s sixth-largest country and would boast a growth rate that would surpass any of the top five countries.
The expanding industrial sector in the Southeast has a record low vacancy for the region and is being fueled by export and import activities in addition to the increase in activity and employment in the manufacturing industry. The cities of Orlando, Atlanta and Memphis serve as strategic locations for e-commerce users. Memphis has experienced an extreme amount of distribution activity considering the size of the market.
Office construction can see a resurgence with the strong market conditions, the increase in population and the decrease in unemployment. The city of Nashville is responsible for one third of all of the office space constructed in the Southeast in the last two years. An additional 3.5 million square footage of office space is expected to be built within the next two. The additional space can result in an easing of leasing rates, which landlords have been steadily increasing.
An attorney may assist investors in commercial property. Overseeing real estate transactions and closings, drafting purchasing or leasing agreements, resolving zoning issues and protecting the interests of a client during contract negotiations are just some of the services an attorney may provide.