ne of the signs of the held up its own is office
times that indicates how rentals. The demand for office
any nation's economy is space – even at increased rent
doing can often be determined by values - has grown. This is
how well businesses are expanding especially true in New York City
in real estate. Right now, there (Manhattan), and some other large
is a continued expansion of cities, too. This means that the
commercial real estate and loans available office rental space has
for these new projects. The actually decreased as office
current commercial real estate space is being filled - much to
lending trends indicate that now the owner's delight. In New York
is a good time to expand your City, office space is being
business with a building program grabbed up - even though the rent
or new land purchase. has risen to nearly $70 per
square foot.
While the housing market has
certainly taken a real dip, and A few other cities, however,
has hurt the sub prime lenders in still show a slow office rent
particular, commercial lending market. In fact, much office
goes on. Many new projects, space remains unoccupied. In
especially in the income those cities, though, where
producing properties realm, is office space is in demand, the
seeing solid expansion. This number of office buildings and
includes the construction of office parks are certainly on the
office parks and buildings, rise, as developers rush to fill
multi-family dwellings, hotels, in the gap. Commercial lenders
and other general land are also seeing the need and
development programs. providing the necessary bridge
loans and commercial loans for
One particular market that has these massive projects.
to get such a loan also could not
When compared to last year, there be much softer than they are
is an increase in the overall right now, too.
amount of activity in commercial
real estate lending. This shows a Seeing this kind of commercial
growth of about 0.8 percent that real estate trend, and the
is expected in the third quarter market’s favor for this kind of
of 2007, according to the loan, you also may be able to
National Association of Realtors. benefit greatly by investing now
in a new building project or land
development program. Check on
Over the last few years, availability of office space (in
commercial real estate lending particular) in the area, find out
has shown a strong increase. The how fast it is being secured by
Federal Reserve (Philadelphia) new businesses, and if it is in
indicates that large mortgage demand, be ready to move on the
lenders have gone from about 150% opportunity. Scope out possible
of loans (compared to land available, or existing
non-commercial) back in the structures that can easily be
1990's, to over 300% last year. renovated into office space, get
your paperwork in order, and talk
The number of commercial real to a commercial lender about your
estate loans is increasing and goals before someone beats you to
lenders are continuing to offer it. Now is the best time for
excellent interest rates. The action on this kind of
market has begun to show a slight opportunity, while commercial
decrease in recent days, but for loans are still available at
right now, the rates needed to great terms.
expand business could not be much
better. The qualifications needed
About the Author:
Please visit SNC Commercial Loans. You can also find more information on direct lending.
Read more articles by:
Eric Morgan
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