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Originally Posted by BrianL99
As reported this morning in a newspaper not to be mentioned, the District just leased 38,648 sq. ft. of Office space in Brownwood, in a building the Developer apparently no longer needs.
It's not clear from what I read, who is paying for the "fitup" of the building (conversion to office space, fixtures and furnishings).
The cost is $1.5M per year and I suspect that's NNN, which means it really costs about $2M per year.
That's $40 per sq. ft. in base (fixed) rent. If the lease is NNN, it's likely another $10 per sq. ft. in CAM & Taxes.
The office space market is dead across the USA. The number of empty or nearly empty office building, is staggering. There are landlords out there, that have over a million square feet of empty office space.
The average "asking price" for 1st class office space in Orlando today, is under $30/sq. ft. In Ocala, it's $23/sq. ft.
A 1st class office building in Metro Boston that housed one of the most prestigious high-tech companies in the world, just sold for less than $30/sq. ft. It was built 10 years ago for $300/sq. ft.
More than 64% of government employees across the country, have a "hybrid schedule" and don't go to their office every day. A recent US Senate report shows that less than 6% of Federal Employees go to their office every day.
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You have accusations and guesses and assumptions. If you’re that suspicious why are you still living here? I know why I’m here, because I like it, and I’m thankful for the Morse family that created this great retirement place. This happens to be a business for them, and businesses are supposed to make money. If they don’t make money they close, is that what you want? All you complainers should consider what would happen here if TV was sold ….. Have you given it a moment of thought? … believe it or not most Villagers are happy here, and grateful for the Morse family.