Commercial Real Estate Outlook

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In this post, we would like to explain Commercial Real Estate Outlook simply. Due to COVID-19, we all see many rise and fall in real estate. In addition, each issue in society can affect Commercial Real Estate. As we see based on the survey, COVID-19 had a huge effect on offices’ prices, no matter is for selling or leasing.

Additionally, some developers and institutional investors are confident the market will come back because humans are social creatures. Also, people are suffering from virtual tours and video-conference.  That means offices will come back to the market.

There are many factors, that each client should aware of it when they would like to lease a property. For example, first of all, you should evaluate your business needs. List your company’s current and expected future space needs, and determine your budget and preferred location. Always involve your real estate salesperson, because they know much more about locations and permitted use. Based on the information the client will provide his/her real estate agent, they can find the right place.

The salesperson can explain your lease options. Based on the type of lease, each agreement and payment are different. For example, In a gross rent lease, you pay a single amount to the landlord that covers base rent and all incidentals. Those typically include utilities, property tax, insurance, maintenance, repairs, and common area expenses, such as snow removal, janitorial services, landscaping, grass cutting, and property management.

In conclusion of Commercial Real Estate Outlook, if you would like to lease an office, please reply! Our team is here to help our client to have a win-win transaction.

BABAK MEHRABI, Real Estate Salesperson

https://www.reco.on.ca/

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