Archive for April, 2009

San Diego office space market ’softening’

Thursday, April 30th, 2009

According to reports from Grubb & Ellis, Cushman & Wakefield and CB Richard Ellis, the San Diego commercial property market has suffered in the first quarter of 2009.

Reports from all three firms predict that the market will continue to soften this year and continue to do so until as late as 2010.

All firms report a high rate of negative absorbtion and vacany in office space for rent in the area.

Office landlords think small in New York

Thursday, April 30th, 2009

As office space rents fall and vacancy rates rise in New York, landlords are finding more ways of tempting commercial tenants in.

The new trend amongst New York commercial landlords is ‘prebuilding’, where office space is finished or rennovated before tenants are found in an effort to make the space more appealing.

The Seagram Building on Park Avenue, for example, is owned by RFR Holding.

When five small offices in the building became vacant, RFR Holding gutted the space and redesigned it from scratch to try to attract new tenants.

Office vacancies rise in San Joaquin County

Monday, April 27th, 2009

The latest report from commercial real estate broker Colliers International demonstrates that the office space rental market in San Joaquin County is in decline.

Office vacancies have risen from 18.6 % in December 2008 to 19% in Q1 of 2009.

Businesses looking to expand are taking advantage of the lower rents in the county.

Charleston Chamber of Commerce shelves office building plans

Monday, April 27th, 2009

As the economic downturn grows worse, Charleston Metro Chamber of Commerce has put plans to build permanent headquarters on hold.

The Chamber instead has moved to find office space for rent.

The Chamber’s current lease is due to expire in February 2011.

Growing vacancies in downtown Aspen

Monday, April 27th, 2009

Commercial and office space for rent in Aspen is becoming increasingly available according to tenatns and brokers in the area.

Vacancies are on the rise as businesses close or scale down.

Landlords, however, have yet to begin significantly lowering rents in the traditionally extravagant area of Colorado.

New York developers plan massive commercial property

Monday, April 27th, 2009

New York city developers David and Jed Walentas of Two Trees Management have been granted permission from the City Council to go ahead with a major building project.

Two Trees will go ahead with their plans to build a huge z-shaped tower, which will offer both residential and office space for rent, in Hell’s Kitchen.

The project, costing $600 million, is the largest the small company has ever attempted.

Financial advisors cash in on low office space rents

Monday, April 27th, 2009

Finacial advisors across the US are finding it easier to start up their own independent firms.

The new craze for starting up independent broker services is largely due to the huge drop in office space rents in areas such as California and New York.

This rent decrease has helped to decrease business start-up expenses by 30% since last year.

Houston office space market faces depressing year

Monday, April 27th, 2009

New figures from CB RIchard Ellis predict a potentially recessive year for the Houston office space market

Office buildings in the area could reach 1 million square feet of negative absorbtion in 2009.

There has not been such a vacancy level since after Enron collapsed.

At the end of Q1, there were 367,000 square feet of negative absorbtion in Houston commercial property.

800Tully Rd Houston,Tx 77079

Wednesday, April 22nd, 2009
Office space minutes from the enery corridor of the world.
From: 800Tully
Views: 36
0 ratings
Time: 01:16 More in Education

Cheap office space for rent in Philadelphia increases

Wednesday, April 22nd, 2009

As tenants are no longer able to afford rents, the office space vacancy rate in Philadelphia has risen to 15%.

There are predictions that the office space glut could continue well into next year and continue to get worse, as commercial real estate often lags behind as an economic indicator.

Philadelphia landlords have begun offering cheap deals to attract potential commercial tenants.