Every year, the Lancaster Commercial and Industrial Real Estate Council hosts High Real Estate‘s review of the local commercial and industrial real estate market. High always presents an extensive, well-researched and thought-out presentation. In addition to just showing charts and graphs, the speakers from High really understand the Central Pennsylvania market and are willing to share their thoughts on what the numbers mean.
When I go to this presentation each year, I ask myself, “What would I tell a client who was not here to watch the presentation?” This year, the ideas that stuck with me are:
1. If I could invest in any real estate, I’d want to own existing apartments or warehouses in places like Lancaster County.
One of the speakers mentioned that pre-COVID, the average daily work commute was around 30 minutes. Today, it is an hour. He explained that as more people are spending fewer days in the office and working more from home, some people do not mind making a longer commute a few days a week.
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