Business Week: 10% of Commercial Sales To Owner-Users in First Half of 2009
Posted on Square Feet Commercial Real Estate Blog:
November 3, 2009
Business Week is reporting that 10% of commercial property transactions during the first half of 2009 were sales to owner-users. As rents and values have plummeted, users are stepping up to acquire assets and gain control of long term occupancy costs. An article by Business Week cites the recent purchase by Sotheby’s of its headquarters in Manhattan, and Electronic Arts purchase earlier of its campus in Redwood Shores for $233M. The 10% figure is up from an average of 2.3% earlier in the decade.
[via Business Week]