7/15/2021 Lisle, IL
Corinna Cole, Executive Director of the LEDP has generated an important analysis of changing real estate market trends in the commercial real estate sector. On Monday, June 19, 2021 at 7:00 pm Ms. Cole will be presenting the Commercial Real Estate Trends at the Lisle Village Board meeting. The presentation will highlight many of the changes that are being seen in this sector, nationwide and how they are impacting communities like Lisle.
Commercial real estate is undergoing a seismic shift corresponding to drastic changes in the American economy. Whether retail, restaurant, or office, businesses are opting to occupy smaller footprints or eschew brick and mortar altogether. These changes, which were first noted around 2010, have largely been driven by the rise of online retailing and shifting demographic trends. The pandemic, of course, has thrown gas on the proverbial fire, accelerating these trends far faster than would have otherwise occurred had the market stayed on the same trajectory as it was on in early 2020.