What type of real estate is designated for business or commercial use by a planning unit?

Commercial real estate is specifically designated for business or commercial purposes, which includes properties such as office buildings, retail spaces, shopping centers, and other facilities that support economic activities. This type of real estate is planned and zoned by local governing bodies to accommodate businesses that provide goods or services in exchange for profit.

In contrast, residential real estate pertains to properties where people live, such as houses and apartment complexes. Industrial real estate involves properties utilized for manufacturing, production, and distribution, which typically do not cater directly to consumer businesses like retail spaces do. Agricultural real estate refers to land used for farming and cultivation, focusing on the production of food and other agricultural products rather than commercial business activities. Thus, commercial real estate is the correct answer as it aligns directly with properties designated for business use.