Being a landlord isn’t much fun these days
September 09, 2010 | Dan Rafter | Print Article | Email this Article
If you’re the landlord of a commercial office building these days, the odds are you’re tired.
That’s because possible tenants seem to be spending every second of every day trying to squeeze more out of you: more rental drops, more concessions, more incentives.
Chris Rohrer understands. He’s the executive vice president of the Minneapolis office of Jones Lang LaSalle. He sees just how much pressure the landlords in his market area are under.
“In downtown Minneapolis right now there is a lot of pressure still for landlords,” he said. “Tenants are aware of the unique opportunity to lock in favorable lease terms and incentives. There is a decent amount of activity in the office market here now from people coming out to try to take advantage of this situation. Landlords, then, are facing some very real, very significant pressures from a rate and incentive standpoint.”
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I appreciated the comments and the video…very informative
I am located in Indianapolis, IN and have a 50% vacancy in my building