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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Chen who wrote (5685)	10/1/2002 3:47:26 AM
From: Amy J	Read Replies (1) \| Respond to of 306849

Hi John, RE: commercial leases in Silicon Valley Pre-boom, some commercial leases cost $1.90/sqft. During the boom, we had to pay $3.50/sqft, while others who didn't lock into early rates signed multi-year contracts as high as $6/sqft, while the rates drifted back down. Over the past one year, the rates came back down to $3.50. About a year ago or so, the rates were still in the $5 range. About 6 months ago, the rates were $3.75/sqft. About a week ago I heard the rate dipped suddenly down to $2/sqft. One person said you can find sublease corporate property for $1/sqft. 2 --> 6 --> 2 --> 1 (coming soon?) How low does it go, before they decide it's less costly to leave the buildings vacant than lease them out? We just got new "corporate neighbors" in the vacant corporate building next store: unemployed, 25ish year-old skateboarders. Regards, Amy J