Commercial Space

Interesting statistic... I guessed wrong. Marin has about 4.5 million square feet of commercial space (warehouse, retail, etc). It's reported that there is only 140,000 square feet currently available (versus Sonoma County at 10 million feet of inventory and 175,000 avail).
Average Marin Vacancy rate is only 3% with prices ranging from $1.45 to $4.80 depending on location. Sonoma County has a 1.8% vacancy rate with prices from $1.25 to $3.30.
As I drive around Marin, I see signs for Lease, Rent and Sale everywhere. It looked like Supply was on the busines owners' side, making negotiations easier for tenants. Apparently not so. Negotiating a solid lease with options for many years is critical in business vitality and investment terms. It's probably the single-most monthly expenderature that is out of your control once you set the terms in any business. You can control overhead, spending, advertising, sales, even energy costs...but you're bound by your lease. And make sure that you exercise your options in a timely fashion or you could be in a bad negotion point at expiration. Need other thoughts? I fund commercial buildings. www.PTRE.net. Pat Townsley, Broker. 415-485-1776