A Positive Spin On Bay Area Commercial Real Estate

It has been suggested to me that I try to put a more positive spin on my blogs regarding the office market…so here goes!  If you ever wanted to purchase a downtown San Francisco high rise office building for 30% of what the price was five years ago, now is your chance!  This week I saw prices in the $180/rsf to- $250/sf range. There are also almost-new major apartment house complexes, hundreds of units, going for 50% of what the value was just a few years ago. Also, if you are an office tenant in many submarkets you can get tons of free rent, loads of tenant improvements, and decent office space at rents that barely offer a return to the landlord after deducting the operating expenses. As an example, there are turn-key office deals in Concord, California, Class A, multi-story free parking structures, fitness and conference centers, and nearby retail amenities leasing on a nnn basis at $1.00 as square foot per month. So there, I can put a positive spin on our Bay Area commercial real estate arena!  Buyers and tenants, come and get it and if you want to know where and how…jeff.weil@colliers.com