A Demand for Larger Spaces & A Lower Level of Risk
Further bolstering Long Island’s commercial real estate position is the demand for larger spaces.
This is a direct result to the diminishing available land left for development. Commercial structures on Long Island are being built at a steady rate and this, in turn, translates into investor confidence.
In times of uncertainty, people clearly want to invest in areas with the least amount of overall risk. The future looks quite promising for the Long Island commercial market. In large part, this is thanks to an abundance of quality tenants and investor-favorable rates.
In short, all of the trends are decidedly in favor of a strong market. Every factor from unemployment and interest rates to a decrease in vacancy rates and more all point to a very positive outlook for Long Island commercial real estate in 2013 and beyond.