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Originally Posted by ranchlandsselling
Well that would be $43 for basically a 10 year term and maybe a $50 TI allowance, vs. the $15 per sq. ft. as is but for what term? I mean, if it's a 1 year term and the going rate is $15 that's pretty high, but if it's for an equivalent 10 year term that's outrageous.
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Most sublease terms are under 5 years but there are a handful that are very long-term and you could do a $15.00 deal on a 5+ term on a an as is basis.
Quote:
Originally Posted by ranchlandsselling
So they were trying to lease out half their space as they downsized, I've seen the listings, then they want to reduce from ~50,000 sq. ft. to ~20,000 sq. ft. and sell the building they paid $37 million for in 2009.... That just reeks of trouble or just a bit of excess in 2009.
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Probably a bit of both. When we sold them the building the residential housing market was going gang-busters and they had big visions. Basically since they've occupied it it's much harder to develop residentially and the business hasn't grown to the level they excepted.