Since the creation of North America’s first town market, there have been many evolutions in how people shop. Market days led to commercial districts on Main Street, and some companies issued catalogs offering everything from egg beaters to prefabricated houses. Now, fewer than 50 years after the first large suburban mall opened, online retail has turned it all on its head.
Before Amazon and eBay made it possible to shop from the comfort of one’s home, commercial real estate near population centers came at a premium because it was worth it for access to customers. Now, as quick delivery zones expand to cover more of Kentucky and the rest of the United States, warehouse space and other related facilities are becoming more valuable.
“As retailers continue to shorten delivery times and expand their last mile footprints, we believe warehouses in dense population centers will continue to experience outsized demand growth,” said the head of a major real estate developer.
The race among major development companies to acquire each other highlights this new trend. For example, one major property owner is considering the selloff of several urban office properties to free up capital to acquire a former competitor. These complicated multibillion-dollar deals often require a lot of legal oversight.
At the same time, smaller bargains and barters can be just as important to small and growing businesses. An attorney can help conclude property acquisitions of all types and make it possible to grow a business in all sorts of environments. Real estate is the lifeblood of new commerce and lawyers can help make the right purchase or lease possible.