Company Condo Market Cooling Off
First down, heres articles published recently at www.realtor.org:
A poll of more than 100 office appraisers, builders, and agents found that 54 percent believe office condominiums certainly are a trend that should come to a finish once interest levels go up.
The poll was done by Grubb & Ellis and PNC Real Estate Finance. The conventional scenario sees businesses buying the condos so they really no more have to pay rent, giving them greater control over space and occupancy costs. More and more company apartments have been acquired as investments lately. Phoenix is one of the largest areas in this niche, with 189 office-condo qualities in place and over 100 others in several stages of growth. Nevertheless, other areas, such as for example Houston, with only three office-condo houses, barely register, although that Texas city's company sector is three times the size as Phoenix's. If you are interested in marketing, you will seemingly require to research about JGM Properties Announces New Office And Warehouse Space In St. Paul.
Source: Wall Street Journal (12/14/05 ); Corkery, Michael; Forsyth, Jennifer S.; Haughney, Christine
Of particular note is in these office condos which are purchased as investments. A few real estate investors, myself involved, have invested in these types of houses, and then find few if any potential tenants for the vacant space. In market with the vacancy rate hovering between twenty years & 15, I felt it was sensible to escape quickly. Im very glad used to do. In the event people claim to dig up supplementary resources about http://www.wtoctv.com/story/29234899/jgm-properties-announces-new-office-and-warehouse-space-in-st-paul, we know of lots of on-line databases you might investigate. In the event people need to learn further on JGM Properties Announces New Office And Warehouse Space In St. Paul, we know of many resources you should think about investigating.
Their own office condo that that that will be often simply purchased by its not the quality of the space is the issue, but the fact any tenant is a good candidate for this space very. Most of the prospects for open any office condo room are startups or small enterprises that could only invest in a or two-year lease. These companies will either make it and get their particular office property or fold up shop and go back to the spare bedroom home office from where they came leaving the buyer to try to find another tenant.
Make no mistake, these are great properties, well developed, with exceptional finishes, that are excellent values for the master / user. As I'd look to the areas, especially industrial or factory properties, to invest my resources, an individual.
Best of luck for you,
Fox Real Estate Group
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