Office Condo Market Cooling Off
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| Description | First off, heres articles published recently at www.realtor.org: "A poll greater than 100 office appraisers, builders, and brokers found that 54 percent believe office condominiums really are a pattern that will come to a conclusion once interest rates go up. Dig up new resources on JGM Properties Adds Fridley Office Space To Its Growing Portfolio by going to our stirring website. The poll was done by Grubb & Ellis and PNC Property Finance. The typical scenario sees organizations purchasing the condos so that they no longer have to pay rent, going for greater get a grip on over space and occupancy costs. More and more company apartments have been acquired as investments currently. Phoenix is one of the greatest areas in this niche, with 189 office-condo houses in position and over 100 others in various stages of growth. However, other markets, such as for example Houston, with only three office-condo homes, rarely register, although that Texas city's company sector is three times the size as Phoenix's. Clicking JGM Properties Adds Fridley Office Space To Its Growing Portfolio probably provides suggestions you can use with your brother. " Source: Wall Street Journal (12/14/05 ); Corkery, Michael; Forsyth, Jennifer S.; Haughney, Christine Of particular note is in these office condos that are bought as investments. Many real-estate people, myself included, have committed to these types of properties, simply to find few if any possible tenants for the empty place. In an industry with the vacancy rate hovering between 15 & 20 %, I thought it was prudent to escape quickly. Im very glad I did. This disturbing JGM Properties Adds Fridley Office Space To Its Growing Portfolio website has a few wonderful lessons for why to deal with this hypothesis. 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 the office condo room are startups or small enterprises that could only agree to a or two-year lease. These businesses will either ensure it is and buy their own office property or fold up move and shop back again to the spare bedroom home office from where they got making the investor to attempt to find another tenant. Make no mistake, these are good homes, well made, with excellent finishes, that are outstanding values for the master / user. As an trader, I'd check out areas, especially industrial or warehouse houses, to invest my resources. Best of luck to you, Marty Olson Fox Real Estate Group mo@foxreg.com ------------------------------------- www.mnspaceforlease.com www.officespacemn.com www.warehousespacemn.com. Dig up additional resources on the affiliated website - Click here: http://markets.pe.com/pe/news/read/30093826/jgm_properties_adds_fridley_office_space_to_its_growing_portfolio. |
| Web site | http://finance.renewableenergyworld.com/pennwell.renewableenergy/news/read/30093826/jgm_properties_adds_fridley_office_space_to_its_growing_portfolio |
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