An owner of real estate designed for business purposes, such as office buildings, retail spaces, or industrial warehouses, leases these spaces to businesses for rent. For instance, a company occupying a downtown skyscraper operates under a lease agreement with the building’s proprietor.
These property owners play a vital role in the economy by providing the physical infrastructure essential for businesses to operate and thrive. They contribute to urban development and generate employment opportunities. Historically, the concept has evolved alongside commercial practices, adapting to changing business needs and economic landscapes. From individual entrepreneurs owning small shops to large investment firms managing vast portfolios of properties, this field has become increasingly sophisticated.
