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Moody's/REAL National Office Properties Index which measures annual transactional volume in the commercial real estate asset classes has reported a 4 percent increase in office prices in the second quarter 2009 compared with the first quarter 09.
Rates had been on the rise since 2002 when they fell dramatically and steadily starting second quarter 2007. This is the first time since the second quarter 2007 - two years - that office rates have increased - a strong argument that the bottom has been reached.
There are favorable and unfavorable points to renting business facilities. A number of persons believe that leasing for retail space for rent is a matter of your money in the garbage. If you have the means to invest in the purchase of commercial retail space for rent, it is most likely the preferred way to go.
For office leasing tenants who have enjoyed short-term lease extensions and concessionary lease deals, the tide is turning and further evidence that the Great Recession is in the beginning stages of its death rattle.
If you partner and sublease with a small business owner, consider sharing employee costs. You may be able to cross train a receptionist or assistant to help you and your tenant partner. This can reduce your overhead cost, until your business grows enough to support the cost of a full time employee.
Find a real estate agent who deals specifically with retail space for rent in your location of choice. Lean on them to find additional properties as they become available and weed out the places that don't comply with your needs.
Main-stream, large corporate tenants which plan well and require a long-term, professional approach to lease management will be the first to face a toughening of the rent curve.
I encourage property managers to consider making the investment to purchase an owner occupied office and sublease to business professionals. Not only can you have a free office, you may generate business leads from your business tenant relationships.
Rates had been on the rise since 2002 when they fell dramatically and steadily starting second quarter 2007. This is the first time since the second quarter 2007 - two years - that office rates have increased - a strong argument that the bottom has been reached.
There are favorable and unfavorable points to renting business facilities. A number of persons believe that leasing for retail space for rent is a matter of your money in the garbage. If you have the means to invest in the purchase of commercial retail space for rent, it is most likely the preferred way to go.
For office leasing tenants who have enjoyed short-term lease extensions and concessionary lease deals, the tide is turning and further evidence that the Great Recession is in the beginning stages of its death rattle.
If you partner and sublease with a small business owner, consider sharing employee costs. You may be able to cross train a receptionist or assistant to help you and your tenant partner. This can reduce your overhead cost, until your business grows enough to support the cost of a full time employee.
Find a real estate agent who deals specifically with retail space for rent in your location of choice. Lean on them to find additional properties as they become available and weed out the places that don't comply with your needs.
Main-stream, large corporate tenants which plan well and require a long-term, professional approach to lease management will be the first to face a toughening of the rent curve.
I encourage property managers to consider making the investment to purchase an owner occupied office and sublease to business professionals. Not only can you have a free office, you may generate business leads from your business tenant relationships.
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The gurus hate it when their personal secrets about retail office space for rent get exposed! Now they're fuming mad about this site commercial office rent and trying to shut it down.
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