Friday, November 29th, 2019 November29th2019

Sell for More Trivia: What is a megacity?

Published on November 29th, 2019

Sell for More Trivia is a weekly blog series that playfully presents a trivia question about commercial real estate.

 

In the next decade, urbanization is predicted to grow, which means we’ll be seeing more megacities across the world.

What is a megacity?

A megacity is a dense, urban city with a population of over 10 million people. Megacities include places like New York, Los Angeles, Lima, Mexico City, Rio De Janeiro, Sao Paulo and Buenos Aires – with Chicago close to making the list.

Megacities are geographic hubs for investment, education, and employment for residents. While they offer many of these opportunities, megacities also face major challenges like overcrowding, congestion, and air pollution that need innovative solutions in order to really be sustainable.

As our industry adapts to new trends, one that has evolved significantly in the last few years is environmental friendliness and corporate responsibility.  Eco-friendly approaches can give brokers and investors increased revenues, decreased operating costs and reduced capitalization rates.

In short, going green improves property values.  Green buildings are estimated to consume 30%-50% less energy than their non-green counterparts. With lower energy bills, everyone from investors to tenants can save money.

 


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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