Proven truck parking expert Evan Seiden of FL heads Relentless Capital, LLC, as chief executive officer. Having previously served as the manager of real estate investments for Lone Star Funds, FL resident Evan Seiden spoke on a panel about commercial real estate financing at the 2016 Borrower & Investor Forum on Real Estate Mezzanine Financing and Subordinated Debt. He actively stays abreast of changes related to the field of commercial real estate.
For the commercial real estate industry, 2020 was a transformative year. However, it’s unclear whether the changes caused by the pandemic were reactions or have staying power. Regardless, here are several trends that one should stay on the look out for in 2021:
Growth in Multi-family Needs
For people who need housing, multi-family homes have the lowest barriers to entry. For this reason, the sector has grown substantially in recent years, and it’s expected that growth will continue. The marketplace will look different, though, as many renters are prioritizing affordable housing options and have an increased interest in micro-units to reduce costs as much as possible.
Flexible Restaurant Options
Before the pandemic, ghost kitchens were already becoming popular. These kitchens are essentially catering kitchens that multiple concepts can share and serve delivery and to-go food items from. The pandemic further increased the growth of ghost kitchens, and they will continue a desirable way for restaurateurs to affordably test new concepts.
Office Spaces Will Continue to Struggle
In 2021, dense, large office markets will struggle with high vacancy rates. Tenants are shifting more toward suburban office markets, thus resulting in a quicker recovery in these areas, and have a greater focus on certain office amenities, like improved indoor air quality. At the same time, people are focused on working from home, so the demand for office space in many areas has decreased.
Evan Seiden 