How’s the market?
- Down over last 5 years
- 2008 beginning of crash
- Recovered approx a third to a half of 2007 highs
- Vacancy rates for retail, office and industrial are up
- Large space is still slow to recover which then slows down the rest of the growth numbers
- Competitive market with lots of space
- The average company is looking for 1,000-2,000 square feet
- Lots of companies start at 1,000 square feet for their first office space
- Those companies then expand to approx 2,000-3,000 square feet
- Currently companies are either staying in the same size of office space or downsizing
What are people looking for?
- #1 is the rental rates and the starting price is negotiable
- Triple rates
- Incentives that the owner is willing to offer
- Many times the lease is for 3-5 years
What is special about Lincoln?
- People are opptimistic about the future here
- Positive attitude about growth and much of this has to due with the downtown development
- South Lincoln hotter and more attractive to many people
- Strip malls are increasing in popularity
- Average price per square foot for the different areas of town will come from Katey
- Lincoln has one of the lowest unemployment rates in the country and a stable thriving economy