Commercial real estate includes shopping centers and strip malls, medical and educational buildings, hotels and offices. Apartment buildings are often considered commercial, even though they are used for residences. That’s because they are owned to produce income.

  • Retail includes indoor shopping malls, outdoor strip malls and big box retailers. It also includes grocery stores and restaurants. Its value is around $2.1 trillion, or 36 percent of the total value of commercial real estate. It consists of at least 9.5 billion square feet of shopping center space. For more, see What Is Retailing?
  • Hotels include motels, luxury resorts and business hotels. This category does not include homes that rent out rooms through Airbnb. There are roughly 4.4 million hotel rooms worth $1.92 trillion.
  • Office buildings include everything from Manhattan skyscrapers to your lawyer’s office. There are roughly 4 billion square feet of office space, worth around $1.7 trillion, or 29 percent of the total.
  • Apartment buildings are commercial real estate. That’s because companies own them only to turn a profit. That’s why homes rented by their owners are residential, not commercial. Some reports include apartment building data in statistics for residential real estate instead of commercial real estate. There are around 33 million square feet of apartment rental space, worth about $1.44 trillion.
  • Industrial property is used to manufacture, distribute or warehouse a product. It’s not always considered commercial, especially in land use plans and in zoning. There are 13 billion square feet of industrial property worth around $240 billion

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