Commercial real estate is one of the three main types of real estate, along with residential and industrial. As its name implies, commercial real estate is used in commerce (residential real estate is used for living purposes, while industrial real estate is used for the manufacture and production of goods). While some businesses own the buildings they occupy, the more typical scenario is that an investor owns the building and collects rent from each business that operates there. While residential real estate lease rates may be quoted in an annual sum or a monthly rent, commercial real estate is customarily quoted in annual rental dollars per square foot.
“We know the local and regional commercial real estate market very well, let us be the conduit to find you that perfect-fit for your commercial or business needs”.
Let Century 21 Action Plus Realty, search for your business real estate needs in Ocean and Monmouth Counties. With agents located in or near both regions we offer unique search advantages over other commercial real estate agents outside of the area.
Commercial Real Estate Classifications
Commercial real estate is categorized into different classes. Office space, for example, is divided into one of three classes: class A, class B or class C.
The Washington-based Urban Land Institute recently released a forecast of real estate trends that predicts commercial real estate prices will continue to sharply rise for another year. The Real Estate Consensus Forecast surveyed 46 industry economists and analysts. It sees commercial property increasing an average of 7.6% annually through 2017, which is up from historical long-term increases of 5.3% annually. In Ocean County, all indicators are, and have been up. The latest statistics from the New Jersey Department of Labor shows:
Let your business locate, relocate or expand to the Ocean/Monmouth County region and let Ocean Commercial Properties with the experience and background of Century 21 be your conduit to our new business location.