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The Commercial Real Estate Industry

Unless you’ve been living under a rock for the past year or so, you know that both the economy and the real estate industry in particular have been struggling to maintain their survival. Businesses who borrowed and signed leases that were far above their means are suddenly realizing that their slowed sales are just not going to cut it when the mortgage or rent comes due. As a result, many people have been turning to executive suites and virtual office space to help keep their costs down. Some have questioned whether this industry trend is really hurting the real estate industry, and the answer is ultimately no.

First of all, the people who make up the main audience for virtual office space, corporate identity packages and executive suites are mainly those who run single employee consultancies, or internet based businesses that rely mostly on telecommuting and virtual services anyway. These are small, sleek businesses that depend on the ability to be able to service their clients and customers from remote locations, and at all hours of the night or day. These are businesses that would very rarely have considered purchasing or leasing office space, unless they suddenly needed to hire a lot of employees.

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