True or False: Three key trends affecting commercial real estate markets include population growth, technology, and ethnic composition changes.

The statement is true because population growth, technological advancements, and changes in ethnic composition are indeed critical factors influencing commercial real estate markets.

Population growth drives demand for various types of commercial properties, including retail, office, and industrial spaces. As populations increase, so does the need for more housing, services, and amenities, all of which can lead to new commercial developments.

Technology plays a significant role in shaping how commercial real estate is utilized and facilitates business interactions. The rise of e-commerce, for instance, has transformed retail spaces and logistics operations. Furthermore, advancements in smart building technologies enhance energy efficiency and provide tenants with better experiences, impacting property values and investment decisions.

Changes in ethnic composition affect demographic trends and market preferences. This can lead to shifts in consumer behavior and, consequently, what types of commercial developments are needed in different areas. Understanding these demographic shifts helps investors and developers make informed decisions about where and what type of commercial spaces to invest in or develop.

All these trends are interconnected and have far-reaching implications for the commercial real estate landscape, making the assertion accurate.