Thursday, September 24, 2009

Office Vacancy Rates in Inland Empire

One broker (see link below) has conducted a vacancy survey on office space in Redlands, CA and concluded a 43% vacancy rate, and an economist reports a 23% vacancy rate in the entire Inland Empire.

What is your experience? Is this right on, high or low? Is the conclusion that this is a good time to rent or buy correct, or is it too early to jump in? One concern I have about a tenant jumping in at this time is to make sure that there is a non-disturbance agreement signed by the lender. Otherwise, your primo lease will be eliminated if the owner loses the building to foreclosure.

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