Nowadays, speaking about commercial real estate, one means all the buildings which are not intended for housing and which are used for various commercial purposes. According to the conventional division, one can identify the four groups of such objects:
- industrial facilities;
- trading premises;
- office space;
Each group has its own characteristics. Let’s consider them in detail.
Commercial Real Estate: Industrial Facilities
Industrial facilities belong to a specific real estate market segment. Its peculiarity lies in the capital constructions built up decades ago. The industry stagnation has resulted in their downtime, and nobody has needed them for a long period of time. Today, we observe an increased demand for the industrial commercial buildings such as workshops, hangars, and other technical facilities in the result of the production growth and the increasing interest in this sector.
The new industrial use areas of the Russian metropolis St. Petersburg are currently being developed outside the city boundary. The industrial zone “Territory” definitely belongs to the most striking examples. According to the government regulation, nowadays industrial areas have to be relocated to make room for the commercial buildings of other spheres in the city center.
Commercial Real Estate: Trading Premises
Trading premises are used with the aim to organize the sales of goods and services, both at retail and wholesale. Recently, there has been observed a tendency to combine the trading and entertaining sectors. This trend determines an increased demand for shopping malls with a complex structure consisting of several levels. The popularity of such commercial buildings continues to grow; however, the shortage of lands for construction limits the opportunities of their erection in the city center.
Commercial Real Estate: Office Space
Today, office space is the most demanded type of commercial real estate. The market is in the state of a constant evolution; new companies are being formed and consequently require their own offices for a business activity. Naturally, the excess of demand over supply for this type of premises affects their price. That’s why a rent is a widespread phenomenon. There is no enough space for offices in some parts of the Russian northern capital; so, the areas for industrial use are currently under the construction of such type of buildings. It is highly beneficial for both owners and tenants.
Commercial Real Estate: Warehouses
Warehouses are considered to be a relatively young segment of the real estate market, designed for commercial purposes. At the same time, one can confidently say that this segment is characterized by the greatest perspectives. Business development and trade increasing cause the demand growth for storage buildings. All the more, according to the law, a trading activity is strictly prohibited to be conducted without a warehouse. A demand for storage rooms is constantly growing, and the current market offer can not fully satisfy it yet. This situation makes a great contribution in the construction of storage buildings in the areas of an industrial purpose, especially if they are located within the city limits or nearby them.
Commercial real estate in Russia is the least overflowing and the most dynamic market segment with great prospects at the same time. The increasing demand for construction, selling, purchasing, and renting of the commercially oriented buildings promotes the development of this sphere.
To prevent the unnecessary expenses and time losses which may arise in the process of buying and selling of commercial real estate, you should better get an advice of a competent expert. The specialists of our company’s department dealing with a support of the commercial real estate transactions are always ready to assist you in the purchasing and renting of the commercial buildings and the land for their construction. Our qualified staff provides various services, which are listed in the article “Commercial Real Estate: What One Need to Know before a Purchase”. We assure you to select the most appropriate option among the huge number of proposals on the Russian real estate market.