Here’s How CRE is Changing in the Nation’s Biggest Tech Hubs
Commercial real estate is one of the world’s most influential businesses. Since CRE gives physical shape to the industries around us, it has the power to change up the game on a global scale.
We’re seeing this happen now in the country’s most popular tech-fueled metros. The commercial real estate industry is rewriting the script for hot spots like San Francisco, San Diego, Phoenix, Los Angeles, and plenty of others.
Let’s take a closer look at how these 3 CRE sectors are changing the flows of the nation’s most important technology cities.
One of the main considerations when looking at how CRE is impacting tech hubs is the multifamily sector. As multifamily living becomes increasingly popular in big cities around the country, it’s changing where people live.
Big tech cities are famous for building big populations. These places are filled with massive opportunities for work and business, and these possibilities attract people who are ready to get started. These cities see a major influx of tech professionals and their families.
That said, these new neighbors don’t usually settle down in traditional houses, which are likely located in more out of the way locations. Instead, these professionals are moving into multifamily properties.
Apartment complexes can be found in centralized locations, meaning it’s closer to the workplace. This cuts down on their transportation time and costs making it an efficient solution to the common problems faced by the contemporary workforce.
Since they provide housing in an accessible location near technology-based jobs, multifamily assets in tech hubs are key to the success of both industries.
CRE isn’t just changing where people live, it’s also changing where they work. Offices in the country’s biggest tech hubs are at the cutting edge of all the hottest trends.
Tech cities make for a competitive office market, meaning that companies need to employ winning strategies when navigating their local CRE scene. In order to stay afloat, these cities become an oasis where all of the latest workspace trends can be seen in action.
Besides the best technology available today, these offices are usually designed with the team members in mind. Whether it’s coworking or open offices, it’s all happening here. Tech companies are employing everything they’ve got to make it work in these big cities, resulting in some of the country’s most innovative office designs.
We can’t forget about warehousing needs. While the cloud might be seemingly invisible, it requires a lot of hardware to keep it running. Tech companies require immense infrastructure to keep their businesses functioning at top speed — and the industrial scene is where it all happens.
Tech cities have interesting warehousing needs; comprised of extensive grids, supercomputers, data storage, and more. This delicate (and expensive) machinery needs to be kept at optimum conditions for everything to run smoothly. Another important consideration is weight. Some of these tech devices are extremely heavy and dense, and when there are tens or hundreds of them in the same area, the physical building needs to be able to support that mass.
Industrial properties in and around big tech hubs are being designed with their function in mind.
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