New Entrepreneurs, New Tenants, New Needs for Commercial Real Estate Investors Insurance
A generation of adventurous millennials has entered into the entrepreneurial space, and they’re changing the face of commercial property with a new set of requirements to operate their businesses. Commercial real estate investors looking for the tenants of today and tomorrow should consider the fact that yesterday’s bubblegum shop is today’s high-tech server farm.
According to Fortune, millennial entrepreneurs are starting up businesses more aggressively than their senior colleagues. Their entrepreneurial endeavors come in many varieties, of course, but this generation seizes technology opportunities frequently. According to a study published by the European banking group BNP Paribas, technology ranked third for industries that entrepreneurs under 35 tackled in 2016.
Technology start-ups come with their own property challenges in terms of capacity for increased infrastructure. In addition, start-ups often require a great deal of flexibility to accommodate them for growth and rapid change, according to Forbes.
This new trend in commercial real estate offers a lot of excitement, but it also creates ambiguity for brokers and investors. Likewise, it generates the need for experience and creativity in those who partner with the investors to provide commercial real estate investors insurance.
Experience matters, as does flexibility. With an insurance pedigree dating back to the 19th century, Ramey King Insurance has both adapted to changing trends in the commercial real estate industry and leveraged its immense experience to provide sound coverage for its clients. Today’s server farm might differ from yesterday’s bubblegum shop in the core product it provides its clients, but the need for stability and sound risk mitigation advice remains the same.