The “city that never sleeps” is back in business, with recent reports showing that New York City (among others) have finally made a U-turn with their declining population as more people are currently moving in than moving out.
Reports show that these three US cities are experiencing an increase in population this year after previous pandemic-related declines:
- New York City, New York
- Atlanta, Georgia
- Charlotte, North Carolina
The recent uptick in population in New York City, Atlanta, and Charlotte continues to result in more corporate offices re-opening. While this is great news for the economy and job market, it also puts pressure on businesses to retain top talent – and one way businesses strive to do this is by providing renovated offices and nearby retail, restaurants, entertainment, and easy public transportation options.
The good news for commercial real estate investors is that there is an increased demand for commercial businesses in these areas. However, securing funding for commercial real estate is a little tricky in this economic climate, due to inflation, rising interest rates, bank collapses, and stricter lending requirements from traditional banks.
Here’s what the increased population means in these three cities, and how you can secure funding for your commercial real estate investments and projects during this lucrative time.
Big City Recovery
New York City was hit hard by the pandemic. Many businesses were forced to shut down and office buildings were vacated. However, as the city began to recover, there has been a surge of interest in commercial real estate due to NYC’s slow and steady rebound, creating more opportunities for investors to receive high returns on their investments. Other cities like Atlanta and Charlotte are following suit.
Retail Business Opportunities
As people return to metropolitan areas like New York, Atlanta, and Charlotte, there is also an increased demand for retail businesses near corporate office buildings. This is because people are also looking for places to shop, eat, and find entertainment. As a result, there is a growing need for commercial real estate investors to finance the development of new retail properties.
By taking advantage of the right commercial loan, investors can renovate existing properties, develop new properties, or purchase undervalued properties. This can help investors attract tenants to their properties and provide them with the flexibility they need to seize opportunities in the market. Additionally, these loans can help investors grow their portfolios and take advantage of opportunities as they arise.
Where to Find Funding (Even if the Bank Says “No”)
To take advantage of this opportunity, commercial real estate investors need to secure funding quickly if they do not have the cash upfront for investments and renovation projects. This is where our team at Innovative Capital comes in.
We provide commercial real estate investors with access to a wide range of lending sources tailored to the unique needs of each investor, ensuring that they receive the funding they need to succeed in the market.
We have a wide network of referral partners, bank connections, lenders, private equity options, and other alternative lending options available to secure the funding you need for your projects.
Especially since traditional lending sources like banks are becoming stricter, we scour every possible source that will best fit your specific needs before presenting you with our handpicked, highly-vetted options.
Contact our team for more details. Request a free quote below and we will get back to you shortly.