Everything in the world of real estate revolves around one factor: location. It doesn’t matter if a property you’re looking at is the definition of a “state-of-the-art facility” and has every bonus feature a person could ever dream of it it’s in a bad location, it’s not worth much of anything. Whether you’re looking at residential investing or commercial real estate investment, some areas will always be a better investment opportunity than others. Here’s a look at some of the best cities for commercial real estate investors to consider.
Two factors put Atlanta at the top of the list for commercial real estate investors. First of all, Atlanta’s rental forecast is brighter than any other city in the nation. Between now and the year 2024, it is widely expected that Atlanta will experience more rental growth than any other city in the United States. The other factor that drives Atlanta as an investor’s dream market is the presence of millennials and the type of homes they like to rent. Walkable, multi-use developments located in suburbs most often attract millennials, which Atlanta is full of.
Austin is projected to lead the nation in job growth in 2020. The presence of new jobs combined with low taxes, a boom in tech jobs and an affordable cost of living makes this city the perfect storm for commercial real estate investors. Apple has announced that they’re putting a $1 billion building in North Austin which may employ up to 15,000 people. That’s 15,000 people who will be looking for a home to live in.
Charlotte, North Carolina
Charlotte was the target city for 1.5% of the nation’s real estate development investments during 2019. Charlotte, already a central area for the banking industry, has recently started attracting other industries such as manufacturing and technology. Charlotte is currently undergoing a massive infrastructure renovation including a five-year air port renovation as well as a light-rail network that is being added.
Not only is Nashville the home of country music, it’s also the home of one of the hottest real estate investment markets in the country. As new jobs are arriving in the city, rental prices are increasing quickly. Between Amazon and Smile Direct Club, there should be roughly 7,000 additional jobs added to the Nashville market between now and 2024.