Sell for More Trivia is a weekly blog series that playfully presents a trivia question about commercial real estate.
Hint: It’s what all the cool suburbs are doing.
As millennials become parents they’re trading in their urban dwellings for a house in the ‘burbs. Migrating out of downtowns isn’t new. Kids and suburbs go together. But this generation isn’t ready to give up city life just yet. They’re looking for affordability as well as urban staples like dining, shopping, entertainment and jobs…all within a walkable distance.
This movement is being called “hipsturbia.” Or hipster + suburbia. The trend is said to have started in Brooklyn. It’s a silly word but it’s a real trend leading into 2020.
The live/work/play formula is what developers used to revive downtowns two decades ago. And now they’re replicating the formula in the suburbs with good success.
The idea is that fun and cool places can be created. It’s where real estate meets people, interests and amenities.
These “cool” suburban communities have active centers of town. They’re often near large anchor communities like New York City, San Francisco, Chicago or Nashville.
As more suburbs attract hip residents, we’re seeing housing of all types…two story, multi-story and high rise urban living that is mixed use. These are live, work, walk neighborhoods…and that’s what this new generation wants.
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About Beau Beach, CCIM
Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee, South Florida and Chicago markets.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached at 800-721-3287, click to schedule a call or Beau@BeachwoodSells.com