For anyone in the market to lease or buy commercial real estate – This is a good time to make a move.
Lease rates have softened 15-25% from the peak with most Landlords anxious to do a deal and offer concessions to satisfy the tenant’s needs. So…a good time to take advantage of these market conditions and lock in some good lease rates for your business. Mike Salmen of Transwestern referenced this opportunity in a recent article in the Real Estate Journal (www.rejournals.com, 7/12/2010) where he said – “companies are deciding to relocate or take advantage of the tenant’s market that exists.”
Likewise – sale prices for commercial buildings have also fallen in the market. So if purchasing is an option for your business…again the time is now. Many Sellers are quite motivated to make a deal by reducing their price.
The other reason that the time is now…is that interest rates for financing are at recent historical lows making payments quite affordable. SBA rates for 504 loans are in the 5’s depending on the program.
So, whether you are a tenant or a buyer – now could be a good time for you to relocate your business. Contact our team of leasing professionals to view some of the best deals in commercial real estate for sale or lease in Minnesota.