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Contemporary Issues in the Real Estate and Impact of a Business Man - Essay Example

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An author of this essay "Contemporary Issues in the Real Estate and Impact of a Business Man" seeks to describe the potential influence of a business leader on resolving major issues in the real estate industry from a personal perspective of a business leader…
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Contemporary Issues in the Real Estate and Impact of a Business Man
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Online shopping in real-estate
a) What is a significant contemporary issue on which you, as a business leader, would like to have an impact?
Online shopping in is an increasingly growing development that has seen retail consumers progressively use the internet and social media tools as effective channels of gaining shopping experience1. What this essentially means is that there is no longer a great demand for expansive tenant spaces and building, owing to the fact that most of the retailers are now offering their products online, thus requiring less physical store capacity. The effect has been that most of the large and expensive stores are being vacated by tenants in favor of smaller upscale stores that are strategically located in close proximity to the retailers’ sources of supply2. This in turn increases the efficiency of the retailers accessing and sending products to the customers who purchase online, thus reducing the expenses associated with both large inventory maintenance and high rent for expansive physical stores.
Consequently, with the great interest and focus I have in real-estate business, I would majorly want to venture into lean upscale store investment as part of the real-estate portfolio I seek to build. This will make it possible to tap on the newly developing market segment in the real-estate, which is spelling doom for the traditionally expansive and blotted office and tenant spaces3. Thus, my focus would be to venture in the real-estate development that specifically invests in shopping centers and malls that are strategically located in upscale neighborhoods, which are partitioned into lean stores and tenant spaces. This will enable my real-estate portfolio take advantage of the increasing demand for lean store tenant spaces, while at the same time enabling my tenants to take advantage of the increasing online shopping trend for the retail customers.

b) Why is it important to you?
The issue of lean-store tenant space is important to me, since my focus and business acumen is majorly on the real-estate business, which I seek to expand and move internationally. Online retail shopping is a globally developing customer trend. Therefore, focusing my real-estate portfolio on the construction of commercial structures offering lean tenant spaces is a facilitative strategy both for the future sustainability of my real-estate business as well as for the retail business seeking to enhance the online shopping experience for their customers. This way, building a real-estate business that is focused on upscale lean-tenant space stores development will ensure that my real estate business will have an advantage of offering low-cost renting retail spaces, thus attracting more retail businesses and increasing the demand for my real-estate portfolio in the increasingly competitive real-estate business world.
c) How could you leverage your skills and resources to address the issue?
I hold a solid background in real-estate since my teenage years. Thus, I have been involved in all areas of real estate business and I understand its intricate operational features and the high risks it involves including in construction operations, accounting, design and architecture. Therefore, I will leverage these skills from the traditional expansive real-estate development previously undertaken to upscale lean space development, to tap into the newly growing real-estate commercial market segment. Since there already exist a real-estate family business which I seek to expand and internationalize, the strategy is to leverage its resources towards this goal.
Bibliography
1. Fung Business Intelligence Centre (FBIC). A Deep Dive into the US Store Landscape (Fung Business Intelligence Centre Publication, March 6, 2015) 1-11.
2. Moschetti Commercial Real Estate. National Retail Commercial Real Estate Market Overview. Available at: http://www.moschetti-cre.com/retail-commercial-real-estate-market-overview/ (Accessed: April 3, 2015). Read More
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