Archive for the ‘US Office Marketplace’ Category

Commercial property sales drop in Loveland, Collorado

Friday, October 23rd, 2009

Available office space in Loveland and Fort Collins, Colorado, has doubled since 2007.

Pete Cowdin, owner of Re/Max Action Brokers, said “We are definately in a decline.

“Everyone is expecting things to get worse before they get better.

New Marlboro office space for Special Olympics Massachusetts

Friday, October 23rd, 2009

Special Olympics has acquired a new headquarters in Marlboro.

The 26,000 square foot building cost $10.8 million to build.

The new building contains office space, conference rooms, a fitness room, a soccer field and a gym.

New office space complexes in Las Vegas

Friday, October 23rd, 2009

Equity Building Services will complete two business complexes in Las Vegas this month.

A quarter of a million square feet of commercial property will become available.

Four different sized units will be available for rent.

Office space standing empty in Southern California

Friday, October 23rd, 2009

Despite a positive outlook from Wall Street, over 17% of Southern California’s office space is vacant.

Across Los Angeles County, Orange County and the Inland Empire, 51 million square feet of office space has no occupants.

Office vacancy is thought to be a product of swathes of redundancies.

School chief faces eviction from office space

Friday, October 23rd, 2009

Charles Flowers, the County Schools Chief for Cook County, has been given two weeks to pay the rent on his office space.

Flowers owes $10,000 to the Westchester School District in rent on the property.

District Attorney Jeff Goelitz said “The Board of Education [wants to] recoup the unpaid rent, and they want toe gain possession of the office space.”

Nevada Democrats settle office rent dispute

Friday, October 16th, 2009

An agreement has been reached between the Democratic Party of Nevada and the organisation’s landlord over an accusation of unpaid rent.

The owners of the office space, Timothy and Carol Antoku of Honolulu, filed suit last month against the party.

The party said that it had “always intended to settle this debt” and that members were “pleased to have resolved this matter to the satisfaction of both parties.”

Sacramento office space market favours tenants

Friday, October 16th, 2009

In Sacramento, office space is becoming still more affordable for commercial tenants.

Sacramento Tenant Advisors’ Reid Boggiano said that companies in search of class B or C office space will be able to afford places that would have been out of the question during the economic boom.

As vacancy rates rise and companies consolidate offices, landlords have been forced to drop their prices.

Office space market to get worse, expert claims

Wednesday, October 7th, 2009

Victor Calanog, director of research at Reis Inc., has stated that the US office space market has yet to hit rock bottom.

Whilst many commentators have been quick to look for green shoots of recovery, Calanog has said that the worst is not over yet.

“Weakness in rents is not concentrated in just a few cities,” he said, “We have yet to observe clear, systematic evidence that the office market is bottoming out.”

Recession has wiped out noughties office space boom, expert says

Wednesday, October 7th, 2009

Victor Calanog, director of research at Reis Inc., has claimed that the recession has reversed commercial property market growth considerably.

Calanog said: “In seven quarters, the current recession has almost undone all additions to occupied space that occurred during the years when office rents peaked.”

Calanog also said that the decline in rents accelerated most quickly after the fall of Lehman Brothers.

US Office space rents at 14 year low

Wednesday, October 7th, 2009

As commercial property rates reach a five year high, rents paid by remaining tenants have plummeted.

The average rent paid by the US office tenant has dropped on average by 8.5%, the largest year-on-year drop since 1995.

The decline in office space use, leading to the fall in rents, is blamed on sweeping unemployment in offices across the country.