I have been in the commercial real estate business for 27 years so I have seen a few cycles. One thing is certain, whatever things look like today, they will look totally different in a little while. So while landlords have been suffering in this economy, it has been great for tenants who are enjoying lower rental rates and free rent.
While no one knows exactly when things will change, there is general agreement that the tide will turn back to the landlord's favor within the 18 months. So what should a tenant do now? Well, if you are in a position to either relocate your office or renew your lease, now is the time to do...at least if you want to make sure you get the lowest rental rates and greatest free rent available.
When a market cures, landlords will first start reducing the amount of free rent they are willing to give. Then they will start getting more firm on the rental rates and will eventually increase the rates if demand for new space holds up.
So if you haven't already had your corporate real estate advisor review your situation and make recommendations, please have it done now. We will personally help you find the right space or renegotiate your lease. There is no extra cost to you for our services and you get to work with one of the top local office specialists in the area.
There is still free rent available to qualified tenants in Plano, Frisco, Richardson, Addison and Dallas. Now is the time to make sure to lock in low office rental rates.