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Best U.S. States For Commercial Office Space

As real estate price continue to fall nationwide many in the commercial office space area are feeling the slowdown effect form this portion market as well. In spite some of the challenging conditions there are some states and markets that are continuing to show promise during these uncertain times. Some key states and locations to watch that are showing this potential include:

New York City, New York: As many commercial office space rentals continue contracting during the current recession, New York is seeing an increase in demand of commercial property for lease. Part of this is due to the expansion and consolidation of more than 50 of the Fortune 500 companies based in the city. Second, by being positioned as hub for Trans Atlantic shipping many business are locating to New York to take advantage of the increase in trade as a result of globalization. These two factors along with the prestige of being in New York and the possibility of increasing revenue during these challenging times are what’s causing increasing demand for office space to rent. This helps many businesses to find highly trained employees and increase their overall profits.

California: San Francisco has one of the strongest economies in the country. The demand of commercial property for lease is at an incredible rate as a wide range of businesses from financial services, travel, tourism, business to business and professional services continues to flock to the city. Many are coming because of the business friendly atmosphere, the geographic location and the prestige of being located in heart of major trading center. Another area where commercial property is in high demand is Los Angeles. Yes the city is being affected by what is happening with the residential market, however when you look at the downtown sub basin there are large concentrations of many different businesses such as government agencies, legal, accounting and financial services. Combine this with the fact that many landlords are offering favorable terms for office space rental and you a situation where many businesses are enticed to move to a prestigious, west coast, business center. By being located in either city many businesses feel that this can help them attract quality employees and increase their profits over the long term.

Texas: According to Colliers International, Houston, is one of the top five commercial property markets in the country. This rapid increase in demand for office space has risen because of an increase in many businesses relocating to the city, favorable business conditions and a desire to be near a major southern trading center. The feeling is that being strategically located along with the business friendly atmosphere will help attract quality employees, increase sales and improve their overall image.

While many areas of the commercial property market throughout the country are suffering. New York, California and Texas are allowing many business the ability to grow their business during these challenging times, attract high skilled key employees as well as have the prestige of being located in some of the major trading centers of the United States.

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