The commercial real estate (CRE) market continues to evolve post-COVID, with retail and hospitality showing strong signs of rebound—though not quite reaching pre-pandemic levels. Still, the trajectory is upward, and for savvy CRE professionals, there are opportunities worth noting.
Retail: Prime Space Is at a Premium
According to the National Association of Realtors’ May 2025 Commercial Market Insights Report, demand for retail space continues to outpace supply in many U.S. metros, with vacancy rates hitting multi-year lows in prime locations.
Here in Buffalo, development activity remains strong, as new construction and redevelopment projects help meet growing demand. Additionally, industrial property—especially warehousing and logistics—is seeing continued growth as retailers strengthen their omnichannel strategies.
Hospitality: Experience Powered by Tech
Hospitality isn’t just recovering—it’s transforming. As highlighted by Patrick Dolan, RPA, Chairman of BOMA New York, “experience-driven hospitality is redefining the standard for commercial properties in NYC.”
Today’s travelers expect more than a comfortable stay—they’re looking for immersive, personalized, and tech-enhanced experiences. From keyless room access and mobile concierge services to smart energy systems and custom in-room content, technology is central to the guest experience.
Behind the scenes, hospitality operators are increasingly relying on analytics platforms, integrated PMS, and automation tools to manage operations, track performance, and make more informed business decisions.
Though NYC may be leading the trend, experience-led hospitality is expanding across regional and secondary markets, signaling growing opportunity for developers and investors who understand these shifts.
What It Means for Commercial Real Estate Professionals
As a commercial real estate agent or broker, staying ahead of these shifts is more than helpful—it’s essential. Whether you’re helping clients navigate leases, scouting industrial land, or working with investors in the hospitality space, understanding where demand is growing—and why—is critical.
Free Download: Commercial Property Construction FAQs
To help CRE professionals navigate these changes, we’ve created a free downloadable infographic:
📥 Download our “Commercial Property Construction FAQs”
A practical reference guide covering common questions about commercial builds and renovations—designed with brokers, agents, and developers in mind.
Stay Ahead with Picone Construction
📲 Follow us for more insights, data, and resources built specifically for commercial real estate professionals. From regional development updates to trend forecasting, we’re here to help you build what’s next.
Let’s build something great…together! Contact us for bids, questions, or to set up a meeting with one of our specialists at contactus@piconeconstruction.com.
Sources:
- National Association of Realtors – May 2025 Commercial Market Insights
- Patrick Dolan, RPA. “BOMA New York: Hospitality Excellence in NYC CRE,” New York Real Estate Journal, July 8, 2025