Decade Answers: Michael Zere

Michael Zere is the executive vice president at Zere Real Estate Services, Ronkonkoma, N.Y. What are your predictions for commercial real estate in the new decade? "Some of the trends in industrial space are smaller size requirements to run business operations with larger amounts of office space with more elaborate loading requests such as multiple loading docks, larger drive in doors and higher ceiling heights for racking systems. Many larger industrial building owners are adjusting their facilities to accommodate these special tenant requests to keep there buildings filled. On the office space side because of the internet and tough economic times location is not as important as it once was, many businesses and corporate users that used to demand class A buildings with prestigious addresses and opulent building amenities. Today's customers seem to be concerned about their wallets and bare bones economic budgets they are given to operate their business operations, in turn lease negotiations are more competitive and complex than ever, this is really where a broker's expertise and knowledge comes into play."