Current Los Angeles market trends data indicates an increase of 25% in the median asking price per sq ft for office properties compared to last year. Retail properties are up $16.7% and Industrial up 33%. I am curious how this is affecting your client’s lease/purchase choices, and I have an idea on how I may be able to help you get your clients into a new lease even though the property may be outside of their budget. How often does a client of yours pass up on a lease space, even though it has all of the amenities they are looking for, because it is, say, $0.30/sf/month outside of their budget?
Commercial property pricing may be going up, but the price for high speed fiber optic internet access is coming down, and when your client works through a free broker like myself to select their voice and internet services, we can save them an average of $0.30/sf/month on their expected telecom expenses. We can do this for your clients too!
The next time you are giving a tenant tour and the client really likes the space but thinks the price is too high, consider letting us offer a free telecom expense analysis to see how much money we can save them. Perhaps the cost savings will give them the ability to afford the lease space they really want.