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Urb-suburban draws attention among those with commercial leases

Nowadays, there is a push among the owners of office buildings and real estate developers to bridge the gap between urban life and suburban life. With this comes a new concept known as urb-suburban. By embracing this vibe, real estate investors in Los Angeles who are interested in offering commercial leases may experience levels of success they have never seen before.

The concept of urb-suburban describes the mixture of suburban offices in settings that are walkable and offer easy access to the types of amenities often seen in urban settings. These amenities include the likes of retail, restaurants, transit and housing. Industry experts said that developers and owners who do not embrace this concept may find it more difficult to justify brand-new projects or attract brand-new tenants.

An example of a submarket that provides many urb-suburban attributes in California is Santa Monica, a suburb of Los Angeles. Yet another one in California is the San Francisco Bay Area suburb known as Palo Alto. In another state, an established submarket is the New Jersey Hudson River waterfront.

Figuring out whether to focus on the urban setting, the suburban setting or both when offering commercial leases can be tricky. This is especially true in dynamic California, where the real estate industry continues to be bustling. However, another common challenge among investors is figuring out how to navigate their commercial real estate deals; after all, every deal is different. An attorney in Los Angeles can help to ensure that one's unique goals are accomplished in each deal in the Golden State.

Source: nreionline.com, "Do Office Tenants Prefer the City or the Suburbs?", John Egan, Aug. 16, 2017

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