5 Signs Your Company Is Targeted For An Office Rent Increase That Will Break Your Budget!
By: Carrie S. Holstead
It’s a pattern we are seeing over and over again as the Pittsburgh office market continues to tighten and vacancies remain among the lowest in the United States… Tenants are being targeted for huge rental rate increases. Beware, if your lease is approaching its expiration and two or more of the other signs listed below apply, your company is being targeted for a rental rate increase that will break your budget!
- Your long term lease will expire within the next four years (one to two years for smaller tenants) and your company is currently enjoying a below market rent.
- The asking rent at your building has increased 40% to 60% since you signed a lease.
- Your building was recently sold, or is currently for sale, at a premium price.
- The new owner of your building is investing tens of millions of dollars into improvements.
- The new owner of your building has a history of buying buildings, increasing rents, and selling them for a multi-million dollar profit following a short holding period.
We can help. For a free report revealing how much asking rents have increased at your office building during the last ten years, as well as corporate real estate strategies that will provide your company with a competitive advantage, contact our office.