As we wind down 2023, it’s time to look back at the commercial real estate performance in Southeastern North Carolina. From bustling urban hubs to the serene coastal landscapes, the region has undergone notable shifts in the real estate landscape. This overview is to look back at key trends that have characterized the market this year and offer insights into 2024 trends!
Flexibility and versatility were big this year. Flex space has been a pinnacle of the commercial real estate market in 2023. Businesses, big and small, have been on the lookout for versatile office spaces. Co-working spots have emerged as a popular alternative, offering a relaxed yet professional setting. This trend reflects an inclination toward a more agile and dynamic commercial real estate era.
Warehousing and delivery are now super important since so many people shop online today. With the rise of online shopping, demand for well-placed distribution centers is high in Southeastern North Carolina, creating a booming industrial sector. It’s in a good spot to handle the growing need for places that can quickly send out stuff people buy online. This shows how important the industrial part of real estate is in shaping how things are in this part of the country.
Mixed Use Developments
In 2023, there’s been a rise in mixed-use properties. These are areas where you can live, work, and have fun all in one. Environments where work seamlessly coexists with residential and recreational spaces have been quite popular. Mixed-use developments are attractive for both businesses and residents, creating a beautiful place where your work and your life come together. The rise of such developments signifies a shift in the preferences shaping the commercial real estate landscape.
As we conclude the 2023 fiscal year, Southeastern North Carolina’s commercial real estate domain is poised for continued growth in 2024. With sustainability and wellness emerging as central tenets, 2024 promises to usher in an era where workspaces harmonize seamlessly with lifestyle preferences. We anticipate a compelling trajectory as the industry continues to evolve and redefine its parameters.
If you are in need of buying, selling or managing a commercial space in the new year, contact us! We have a wide array of services and would love to help!