Office Condo Market Cooling Off
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| Description | First down, heres an article published recently at www.realtor.org: "A study in excess of 100 office appraisers, builders, and agents found that 54 percent believe office houses certainly are a development that should come to a conclusion once interest levels increase. The study was done by Grubb & Ellis and PNC Property Finance. To read more, consider peeping at: JGM Properties Announces Availability For Office Space Plymouth Minnesota. The typical scenario sees businesses buying the condos so they really no more need to pay rent, going for greater get a handle on over space and occupancy costs. More and more company condos have been bought as investments currently. Learn more about JGM Properties Announces Availability For Office Space Plymouth Minnesota by visiting our unusual article. Phoenix is one of the biggest markets in this market, with 189 office-condo homes in place and over 100 others in various stages of development. However, other markets, such as for example Houston, with only three office-condo homes, rarely register, even though that Texas city's company market is three times the size as Phoenix's. " Source: Wall Street Journal (12/14/05 ); Corkery, Michael; Forsyth, Jennifer S.; Haughney, Christine Of particular note is in those company condos which are purchased as investments. A few property people, myself included, have dedicated to these types of attributes, only to find few if any possible tenants for the vacant place. In market with the vacancy rate flying between twenty years & 15, I felt it had been prudent to get out easily. Im very glad I did. Its perhaps not the caliber of the space that's the problem, nevertheless the fact that any tenant that is a good choice because of this space may frequently simply purchase their own company residence. Many of the prospects for open the office house space are startups or smaller businesses that can only agree to a or two-year lease. These firms will either make it and get their very own office house or fold up move and shop back once again to the spare room home office from where they came leaving the investor to try to find another tenant. Make no mistake, these are great houses, well-built, with exceptional finishes, that are outstanding values for the owner / user. As I'd turn to the areas, particularly industrial or factory qualities, to pay my funds, an trader. Best of luck to you, Marty Olson Fox Real Estate Group mo@foxreg.com ------------------------------------- www.mnspaceforlease.com www.officespacemn.com www.warehousespacemn.com. |
| Web site | http://www.wandtv.com/story/29424066/jgm-properties-announces-availability-for-office-space-plymouth-minnesota |
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