[Mikalle]

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.

Thanks for the detailed and insightful information