Archive for the ‘Real Estate’ Category

United States Commercial Property Prices 2020: Per Square Foot

December 15th, 2020

The United States is home to one of the world’s largest commercial real estate markets, with an estimated worth of approximately $950bn. In terms of size, industrial space is the largest sub-market with 21bn square feet, followed by retail with 13bn, and offices, which account for 11bn.

In Q2 2020, the average price per square foot for US offices was just over $35. Retail averaged out to $18.09 / square foot, and industrial space came in at just under $8 / square foot. However, there are significant variations in average prices based on location and real estate class. Here is a summary of average commercial rates in key USA cities:

  •   New York: Average gross rates for metro New York offices are $81 / sq ft / year. Industrial space averages $19 / sq ft / year.
  •   Los Angeles: $44 / sq ft / year for offices in the metropolitan area and $11 / sq ft / year for industrial premises.
  •   Miami: In the same range as Los Angeles for CBD offices and slightly lower for industrial space ($8 / sq ft / year).
  •   Boston: $39/ sq ft / year for metro offices, rising to $80 in Cambridge. Industrial properties average $10 / sq ft / year.
  •   Philadelphia: $36 / sq ft / year for city center offices, $27 for suburban space, and $6 / sq ft / year for industrial properties.
  •   Atlanta: Slightly under $30 / sq ft / year for offices with a rate of $35 in Downtown Atlanta. Industrial space is charged at an average of $5 / sq ft / year.
  •   Chicago: Approximately $33 / sq ft / year for office space, rising to averages above $40 in The Loop. Industrial premises average $6 / sq ft / year.
  •   Dallas and other urban centers in Texas: between $25 and $30 / sq ft / year, whereas industrial rates are below $5.

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Offices.net Relaunches with New Design & Content

March 12th, 2015

Offices.net redesigned homepage Offices.net has been relaunched with an entirely new look and feel.

The newly redesigned site showcases office space available across the United States, enabling businesses of all sizes to find workspace quickly and easily, and to obtain prices and tour available buildings at no cost.

A large part of our focus has been on the site’s new streamlined front-end design, which has:
* simpler navigation,
* clearer mapping systems,
* and upgraded search tools

The changes are much more than skin-deep, with new content and areas all put at the user’s fingertips.

We are proud of the new site and believe it is smarter, easier to use and faster, and will provide a better user experience than ever.

With inventory in 43 states and the District of Columbia, Offices.net fills a vital role in helping people find the right space to establish a new business or grow an existing one. Access to the site is free, and users are not charged for quotes and information. Tens of thousands of companies have used the site to find serviced and conventional office space.

We anticipate that the demand for affordable, flexible office space will continues to increase. While conventional office space with long-term, fixed leases continues to dominate the market, there has been an increase in demand for the turn-key, quickly set-up and flexible approach to office rental that is best provided by serviced offices and executive suites. This is clearly visible in areas like New York, Texas and California, and it is a trend that is increasing in other states in the US.

We hope that you will find the new Offices.net website useful in your search for the ideal work space.

Please let us know what you think, we’d love to get your feedback.

New York’s Battery Park City is Green Building Leader

March 1st, 2012

When it comes to eco-friendly residential buildings, New Yorks‘ Battery Park City stands out as a leader in the green building movement.

The very first LEED-certified residential eco-friendly building built in the US was the Solaire, in 2003. This was followed by the Verdesian in 2006 and the Visionaire in 2008, all three were built in Battery Park City and consume thirty five percent less energy and fifty percent less water than your average residential buildings.

A large portion of the BPC eco-friendly buildings electricity supplies are generated by solar panels and include energy efficient appliances. Water is purified and reused and each room is equipped with motion sensors which activate heating, lighting, ventilation and air cons.