Commercial real estate encompasses a wide array of properties. While the most common examples are office, industrial, retail and land, there are a multitude of subcategories and commercial real estate sectors to acknowledge.
A multi-story or single story building specifically designed to accommodate an office use would be included in this category. This may take the form of a multi-story high-rise office building within a business park with a collection of several other office buildings or a space in a stand-alone building that may be located in retail oriented environment. Office buildlings are sometimes further defined by additional asset classes such as Class A, B, or C buildings/spaces which are dictated by the overall design, amenities, rental rate, location, and market.
It is important to note that this category is driven more by the design and utility of space itself than the location or design of the building.
Not unlike office space, the nature of the use is more important than the overall building categorization. However, there are several components to the building design and location that accommodate a user in a more effective manner within the industrial category. High ceiling or deck height for warehouse storage, truck access, higher utility capacity, and convenient access to interstates.
“Flex” space sometimes falls into this category when a tenant requires a higher concentration of office space and access to storage space within the same building.
Although this may fall into a gray area and be slightly less defined: there are several types of multi-family oriented examples of commercial real estate. The transfer of a single family property is not generally considered a category of commercial real estate. However, the sale of multiple lots for the development of single family residences is. Apartment buildings, extended stay models, motels, hotels, land for these uses, and in some cases properties considered investments such as duplexes are quads may fall into commercial real estate transactions.
There are several types of properties that fall into this category which is defined as much as the type of building construction and location as it is the type of user. Most are obvious: malls, big box retailers, strip centers, neighborhood power centers, stand-alone retail buildings for drug stores, restaurants, convenience stores, banks, or grocery stores. Some medical uses including veterinarians, specialized medical care providers and urgent care facilities also fall into retail locations. Hotels, motels, car dealerships, and any other business that requires walk-in or highly visible consumer traffic might also fall into this category.
The land category is highly diverse and covers any application of all the categories above to the land in addition to simply using the land for the generation of income, future development, or resale at a future date.
Whatever the use, transaction type, or commercial real estate objectives: Phoenix Commercial Properties Inc. has the resources and knowledge to accommodate your specific needs.