What are the types of commercial properties?
The five main types are:
- Office Buildings: Spaces for businesses, ranging from high-rises to small offices, classified as Class A, B, or C based on age, location, and amenities.
- Retail Properties: Includes stores, shopping centres, and malls, such as strip centres, power centres, and regional malls.
- Industrial Properties: Used for warehousing, manufacturing, and distribution, classified as light industrial, heavy industrial, or flex spaces.
- Multi-Family Units: Apartment buildings with multiple rental units, considered commercial if they have five or more units.
- Mixed-Use Properties: Buildings combining residential and commercial spaces, commonly found in urban areas.