A report issued every other year by the nonprofit research group Urban Land Institute is sprinkled with optimism concerning the state of the commercial real estate market across the U.S.
This detail most prominently leaps out from relevant data culled and presented by the organization: commercial transactions from now through 2019 are expected to exceed the average dollar amount of realized realty-related business deals that took place on average over a recent 16-year period.
And to an eye-popping degree: Researchers posit that commercial real estate deals that will likely be executed next year nationally will collectively involve about $414 billion. That exceeds by $120 billion the above-referenced 16-year average.
That spells a truly impressive jump of 29% in realty-linked activity.
Logically, the New York metro area would expect to see a sizable piece of that action, given the city's preeminent status as a hub for national and global businesses, financial institutions, sports venues, government bodies, fashion/entertainment outlets and more.
We recently pointed out the city's comparative might in attracting business principals from diverse industries, noting in our October 4 blog post Deputy Mayor Alicia Glen's assertion that no other American city "has the space, the ingenuity or the energy" that New York City commands.
Tested entrepreneurs are necessarily smart, sophisticated and proven performers who pay due and timely attention to the multitude of legal matters that are centrally important in the American business world.
While doing so, they know that securing top-quality legal representation from seasoned commercial attorneys can go far toward promoting their best interests and bottom lines.