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What is the current status of the commercial real estate market? I have never seen so many signs advertising FOR SALE, FOR LEASE, SPACE AVAILABLE for commercial retail, office and warehouse space or commercial land.
Basically what do you want and how much are you willing to pay. There are plenty of projects going on. Projects are selling out very quickly.
Depends. I wouldnt say that projects all over are selling that quick. There plenty of smaller ones for independent/small businesses that are vacant, atleast thats what Ive seen in Mooresville. They are built in nice areas and most are brick though.
I saw this post some time ago and wanted to wait until one of my coworkers finished their study. At present the available (unleased) current square footage of retail, commercial office and warehouse space available is approximatley 20,000,000 sqf. This is the highest amount of space available in the Charlotte area since we started tracking some 12 years ago. There has been a huge drop in occupancy and many new facilities brought on line in the past year. Two years ago, I had several investors trying to talk me into buying. Their arguement was with all the new people coming to area so will many businesses. The chamber use to post on their website the available sqf for each market. Last fall Q4, 2006 the total available space listed on the website was 1.6 million available. No wonder they shut down those pages with the true number being over 10 times that posted it would only before a short while before the people noticed. By the way, other then retail businesses what new ones have come to the area? Notice how much space is available between those retail stores?
I saw an article recently stating that Charlotte commercial real estate was in good condition and that they did not have enough commercial growth. I will look for the link. I had to laugh when I read the article because obviously the writer has not seen the number of for lease signs in the area or empty buildings. I love it when article are posted nationally with stating trends with no numbers. Ahhh back to the faith based society don't worry, move on, nothing to see here.......
One thing is that Charlotte is to mall. So there are very few places now were people can walk to the stores and buy things. There are some little shopping strips but normaly they are like 2 blocks or something. Or they are "faux" and are located in a master planned community like Baxter and Phillips Place as nice as it looks feels like an open mall to me.
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