Despite a rocky year of real estate sales due to the pandemic, commercial real estate is ready to rebound. As more and more developers return to the industry with the economy rounding back to normalcy, commercial development will once again lead the charge for property investors around the nation.
According to a report published by Real Capital Analytics, commercial real estate transactions leaped in volume during the first five months of 2021. As sales figures continue to rise, it is worth taking a step back to properly understand commercial development, what it offers to investors, and how it impacts the economy.
What Is Commercial Development?
Finding an ideal property before transforming it into a more appreciable investment is considered commercial development. We see this on the daily with old buildings that are rehabilitated into modern housing facilities, often apartments, thus creating value for the community, the investor, and the building itself.
Essentially, commercial real estate developers like Strategic Properties Group will take a piece of property before adding value to it, often working with a level of technical knowledge and practical skills that are required to find consistent success.
What Roles Does a Commercial Developer Play?
Whether you are looking at becoming a commercial real estate manager or you want to work with a team like Strategic Properties Group, understanding the different levels of the process can be important. What happens before and after you sign a contract for a commercial real estate space? What needs to happen to ensure that you maximize the productivity of the space while best preparing it for profit?
Let’s look at a few different services provided by real estate developers like Strategic Properties Group.
- Contract/Hire Vendors – One of the most important elements of a successful real estate project is the ability to put the right teams in the right places. Developing a professional real estate project requires collaboration and cooperation from designers, property managers, construction companies, architects, and material acquisition professionals. A team like Strategic Properties Group can make sure that all of these tasks are handled while the original investor watches their development grow.
- Develop New Construction – Most investment properties aren’t ready to go out of the box. A successful development will require navigating the various complexities of the real estate industry. From developing relationships with contractors and builders to finding the right tradesperson for the job, a commercial developer will grease the wheels of progress.
- Investment Strategies – While there are certainly experienced commercial investors that don’t need support on investments, they are not the norm. Strategic Properties Group works tirelessly to help maximize the earning potential for each of its investors while retaining consistently high-level quality for all projects.
Different Development Processes
Developing the ultimate commercial project can require a step-by-step approach. Developing commercial real estate can take many different shapes with markedly different outcomes. Let’s look at some of the most common ways real estate developers approach improving a space for your commercial benefit.
- Commercial Real Estate Management – While developing a building can be a difficult task in and of itself, the real work begins when it comes time to manage the property. Whether you are renting offices to businesses or apartments to tenants, a commercial development team can help with management services. Property management ensures that your investment continues to reap its returns, all while you work on other projects.
- Develop Tenant Relations – A property maintenance and management team in the commercial space can help to procure enduring profits. Property managers hired through leasing and development companies like Strategic Properties Group are specially trained and uniquely qualified to keep your building occupied with qualified tenants.
- Regular Property Maintenance – Keep your investment sparkling with regular professional property maintenance procured by development teams that understand your needs. Property maintenance is an involved process that can have a dramatic impact on your bottom line as well as the success of your development.
About Strategic Properties Group
Developing commercial real estate can provide many opportunities for the savvy investor. The team at Strategic Properties Group is there to help guide clients through the process. Family-owned and locally operated, Strategic Properties Group has been serving Tampa residents with commercial and residential management, and development services.
Backed by the power of a major firm but focused on their clients like a boutique company, Strategic Properties Group embodies their core values with each and every interaction.
Contact the team at Strategic Properties Group today to learn more!