Commercial real estate in the Georgetown area has been generally slow primarily due to the economy and the availability of commercial financing. This should be no big suprise however there seems to be a few exceptions:
1. Income producing properties with cap rates around 8% are attractive to investors.
We recently closed on a free standing building with multiple offices and fully leased.
2. Other retail or office buildings with space partially leased to a complimentary business can also be attractive to a small business looking to own their building instead of lease. Additional revenue from this business tenant can offset some of the building or related monthly expenses and is especially attractive to new start ups concerned with the expense of owning property. A good example of this type of property can be see at www.4219Williams.com which is currently on the market by Sedlor Properties and at www.WilliamsDrive.info which we just sold and closed on today.
Jirasek Realty, LLC - Temple, TX
ALC, CCIM
Leasing seems to be the worst in Temple. We have a lot of dark retail, some big box space. Businesses are downsizing space, or cutting additional locations, to reduce business expense. As for sales, there are still some wealthy individual investors, willing to take advantage of a seller, looking for a "good deal" to buy. But commercial users are starting to look more than they were, making some offers. I'm hoping this year will continue to pick up in commercial sales activity, and be better than last year.
Feb 22, 2010 11:26 PM
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