Commercial real estate is property that is used exclusively for business or commercial purposes such as office space; retail stores; warehouses; industrial space (buildings and manufacturing plants); hospitals; hotels and resorts; restaurants; shopping malls; and strip malls. Multifamily rental properties such as apartment complexes are also classified as commercial real estate.
Most commercial real estate is leased to tenants engaged in business or commercial activities. Commercial real estate is often an investment asset for real estate investment trusts (REITs) and large other investors.
In West Virginia (WV), commercial real estate encompasses properties utilized solely for business activities, including office buildings, retail spaces, warehouses, industrial facilities, healthcare institutions, hospitality venues, dining establishments, and various shopping centers. Multifamily housing units, like apartment complexes, are also considered commercial real estate. These properties are typically leased to tenants for commercial use. The leasing, sale, and management of commercial real estate in WV are governed by state statutes and regulations, which address aspects such as zoning, land use, environmental compliance, and building codes. Additionally, commercial real estate transactions and investments are subject to federal laws, including tax regulations and securities laws if the property is owned by a REIT or similar investment entity. Investors and landlords must adhere to these legal frameworks to ensure proper conduct of commercial real estate business within the state.