Real Estate Spotlight on Orange County, NY

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The commercial real estate market is still being shaped by the aftermath of Covid-19, creating new opportunities for real estate.  Data centers and industrial real estate are expected to be the most solid, while the hotel market is continuing to recover.  Office occupancy may increase as people return to work, though that may be short-lived, as many more workers continue to work from home than did before the pandemic, potentially decreasing the office space demand per employee.  There is still a great amount of market uncertainty, though the US is considered relatively stable.  

Layoffs and a flattened amount of office occupancy are challenges to the market, but for those who are willing to take a risk, the persistent housing shortage will create opportunities for multifamily investment.  Dynamic pricing on leases will allow improvements in office space, and landlords in New York are considering converting empty office spaces to residential units.  Silverstein Properties, for example, announces a 1.5 billion dollar capital raise to convert office space to residential.  Demand for industrial space could still continue in New York due to low land supply and supply-demand imbalances.  This is a highly tumultuous time in real estate, but very promising if one can capitalize off the uncertainty.
Learn more about commercial real estate in Orange County, NY in the infographic below:

Orange County Commercial Real Estate
Source: ChessRealtors.com

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