Mixed-use developments are the new hot commercial opportunity

| Nov 30, 2018 | Real Estate Transactions |

Workers with a long commute in congested traffic may be looking for an alternative, and many of them are getting one. The idea of a place where people can live, work and play all in one community is gaining traction, and Florida is a hot spot for new community developments serving all kinds of skilled workers.

Mixed-use developments are replacing the previously dominant paradigm of zoned residential and commercial estates. The convenience of urban living — mixed with the easygoing mood of a suburb — is attractive to young families with children as well as people looking to simplify their golden years.

Commercial real estate leases in mixed-use developments are also becoming popular among retailers. The demand for high-quality amenities in these “live-work-play” communities makes these options highly competitive, especially for businesses looking to scale up with an additional retail location.

This is also a good option for office space to attract the professionals who live in mixed-use developments. An effective one-stop location for all major life activities is a big attraction, and thousands of companies are paying a premium to keep workspaces near them.

Keeping track of new mixed-use developments, including the retooling of old retail locations like malls and commercial districts, help a business or individual ready to take advantage of Florida’s latest real estate boom uncover some golden opportunities.

Any business looking to secure the right commercial real estate opportunity should consider legal representation during the search and closing processes. A lawyer can help narrow down the key features that a business needs to succeed in a new location and get the right deal with a developer or owner.