As you probably know, the commercial real estate market in NYC is hot (and it’s really not great for tenants.) Demand is skyrocketing due to the burst of new businesses on the scene. The problem with this demand in NYC is that there’s no way for building owners to accommodate with supply. In most cities when demand is great, there’s room to build out and expand the city limits (i.e. urban sprawl.) Companies can move farther away from the city center for cheaper rent, which also drives prices down in the city because demand goes down. Makes sense. In NYC, the main problem is there’s no room to build out, and what space does exist is being quickly absorbed by new companies. For example, Chelsea only has 20 million square feet, with only 4.2% currently vacant (this was 6.6% last year, but 2.4% was already leased). In addition, only 168,000 square feet is scheduled to be added this year. The combination of low inventory being taken quickly, with no new space coming on the market means options are lacking and pricing is going to keep going up.
When choosing a Houston retail space for lease, a company first needs to answer one question about itself - is it a destination location or will it require a high volume of foot traffic (and random walk-ins) to succeed? According to Yahoo contributor S.H. Wallick, the answer to this question will determine whether a business needs to position itself in a high visibility area.
If cost were of no concern, most business owners would probably prefer to operate out of a new, state-of-the-art commercial space. As always, though, cost considerations must always be taken into account and Dallas office space is no exception to the rule.
Another report on the commercial real estate picture in the United States points to the continuing demand for new office and warehouse spaces driving up office leasing activity in key markets around the country.
The current commercial real estate market appeals to buyers in major cities such as New York City, Dallas, Houston and Austin. However, experts say businesses conducting an office space search may soon increasingly find themselves leasing properties owned by foreign investors, who consider the market's current position ideal for investment.
Businesses around the country have heard the drumbeats of cloud computing technology and, for the most part, many have responded by making investments in technology that help more workers perform duties remotely.
The United States' population is increasingly becoming centralized in major urban areas, including the Los Angeles, New York City and Austin metropolitan regions, according to new federal data. Patterns of growth may affect the level of commercial real estate leasing activity in particular parts of the country.
Financial services heavyweight Morgan Stanley is already a large tenant at One New York Plaza in Manhattan, but the corporation may lease more New York city office space in that building, according to The New York Post.
Changes in how leases are classified for accounting purposes may affect commercial real estate in Dallas and other major markets like Austin, New York, and Houston.
Well now it's official. You've known it was coming for years, but you weren't sure who exactly would be looking and through what vehicles the search would be carried out in. Commercial Real Estate is a funny business. For an industry so lucrative with billions of dollars switching hands every year, it seems to be very slow to adapt to change and technology. Most experts (real estate professionals who understand digital marketing and the technology behind online advertising) say that the residential side of real estate adopts changes in technology faster than the commercial side, and is about 3-8 years ahead of commercial when it comes to adopting technology and using it to increase productivity and source prospects.
The latter six months of 2012 will provide greater opportunities for commercial real estate investors and property owners to profit from increasing demand and rising rents. However, for businesses seeking office space for rent in top metropolitan markets like New York and Dallas, it may be wise to begin considering options now, before vacancies become too tight.
For businesses considering retail space for rent in top metropolitan areas such as New York, Dallas, Austin or Houston, it has never been unusual to base this decision off of intangible factors, such as instinct or the general "feel" towards the property.
Once known as one of the nation's most prominent music gatherings, the annual South by Southwest festival has now become one of the world's premier digital media events. Accordingly, its effect on the Austin commercial real estate sector has been significant, according to reports.
A data services firm is relocating its headquarters from Las Vegas to Dallas, according to reports, underscoring the continued strength of the Dallas office space market.
Real estate experts have long tied the industry's fortunes to the strength of the nation's job market, and now many say the right type of growth is occurring to positively effect several corners of the market - including commercial real estate.