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Cloud technology moves commercial real estate direction

Maryland investors and developers who are involved in the commercial real estate market might want to look to other industries in order to predict where the future of commercial real estate may lie. One example of a different sector having an impact is cloud-based internet technology's effect on north Texas.

As more business tech moves into the cloud, the need for data centers has expanded. This has led to large developments for technology data centers located near population centers in order to meet the needs of the commercial consumers in the cities. One company, Hillwood, sold 150 acres in Texas to Facebook for the development of a $1 billion data center. The company has now mapped an additional 400 acres north of the site that would also have the needed infrastructure for additional data centers.

With more business being performed in the cloud, the need for on-site workers is decreasing. Many workers are now able to do their jobs either wholly or partly at home. This means that some companies may need less office space and fewer parking spaces, which could also impact the commercial real estate landscape.

Being able to analyze markets while incorporating information about trends that are happening in certain business sectors may help developers to better predict where to plan their next projects. Before making purchasing decisions, they may want to consult with real estate attorneys for advice. Counsel may assist their clients with the market analysis and property research. They may help to identify properties that might offer higher returns. Attorneys may then work to solve any existing zoning issues and to draft or review contracts in manners that best represent their clients' interests.

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