Top Cities for Commercial Real Estate Growth

An expert at construction, real estate development, and business development, Michael Snedeker is the executive vice president of Elite Building Corp, a construction conglomerate in Waltham, Massachusetts. With his marketing and sales expertise, Michael Snedeker spearheads business development efforts, secures financing, acquires contracts, and pinpoints prospective expansion projects in the Greater Boston area.

Numerous opportunities abound in commercial real estate development. Location is one of the primary decision elements for initiating a project. However, with recent world events and technological changes, as seen in smart buildings’ concepts, other factors, like information and data analytics, also come into play.

Traditionally, investors have always considered San Francisco, New York, Boston, Washington, Los Angeles, and Chicago as hotbeds because they thrive and maintain prices even during economic downturns. However, new hotspots show potential every year. One city that projects growth is Atlanta, Georgia, due to rent growth forecasts and ‘hipsturbia’ trend, which are diversified development projects that appeal to millennials.

Another city is Austin, Texas. This city offers tech jobs, affordability, and low tax. For Boston, Massachusetts, education, and technology boost its economy. However, it doesn’t meet average housing demands, so it’s a potential hot cake for investors. Due to the expansion of infrastructural facilities, business-oriented atmosphere, and low taxes, Charlotte, North Carolina currently proves to be a focal point for tech and manufacturing industries. Other cities that show potential growth include Nashville, Tennessee, San Jose, California, and Dallas Fort Worth, Texas.