Brian Fielding knows that many commercial real estate investors choose to invest in office properties for a number of reasons. These, like may other commercial real estate properties, are great investments. However, also like any other commercial real estate properties, the success of one of these properties depends on a variety of factors. One of the main factors is location. Some areas have a very small demand for office spaces, while others have a high demand but the properties are also expensive. Here, Mr. Fielding shares some areas that in the coming year are ideal for office property investments.
- Pittsburg: There is a high demand for office spaces as white-collar jobs increase with the recovering economy and dropping unemployment rates in this city. In addition, those who want to purchase a great office property in this area will find that the demand is high and the availability of such quality spaces is low. Investors who secure a desirable property will face low vacancy rates in comparison to the vacancy rates in other areas.
- Boston: Mr. Fielding shares that Boston is seeing a number of positive trends in 2015 that make it a desirable area to purchase an office space, especially if the owner is planning on renting the space. There is low competition on desirable properties so investors are able to snap up the properties that they want. Additionally, the prices on these properties are currently low, especially when compared to desirable cities such as Manhattan.
- San Francisco: San Francisco is another city that is seeing a lot of job growth in industries that desire quality office spaces. There are many developments in the works in the city. In the meantime, because office spaces are in high demand, Brian Fielding shares that investors will be able to get top dollar rent for their spaces and they will see few vacancies.