When you are looking for office space, I can help you make your best deal in any building in Tampa Bay and help you insure that your bargain continues throughout your occupancy.
Last week in the St. Pete Times, real estate writer James Thorner reported that “office space glut in Tampa Bay means 'negotiable rent.'”
This has been the case for sometime now and will continue to be, at least as long as unemployment is rising. Employers, afterall, only need space for employed workers.
In my opinion, the current situation is a generational opportunity for renters. We've seen nothing like it since the early 1980s.
Here are three steps you can take to take advantage of historic low rents.
Step one: Plan
Making the right decision about your space takes time and careful planning. How many employees do you have? Do you anticipate having? Where do they live? Where do most of your customers live? How committed are you to your present location? These and countless other questions require generous lead times. Two years from your lease expiration is not too early to start.
Step two: Evaluate
Lease or purchase, this is the shopping phase. Once you are firm in the kinds of space and location that you need, you can start looking at space.
Step three: Negotiate
What base rent is your present landlord seeking? What incentives will the competition offer in terms of buildouts? Will your present landlord offer inducements for an early "blend and extend" renewal? Is a purchase price too good to pass up?
Today's low rents and prices are a generational opportunity. No matter what your present lease expiration situation is, you need to explore how today's low rents and prices can decrease your opperating costs for years to come.
