Office and Retail Rental Rates
Rental rates for office and retail space are typically quoted in terms of money per floor-area–time, usually money per floor-area–year. For example, the rate for a particular property may be 290 dollars per square-meter–year ($290/m2·a) (or $29/ft2·a), and rates in the area could range $200/m2·a–$500/m2·a.
In many countries, rent is typically paid monthly even if usually discussed in terms of years.
Example: A particular 200 m2 space is priced at $150/m2·a: (200 m2) × ($150/m2·a) / (12 mo/a) = $2500/month
In a gross lease, the rate quoted is an all-inclusive rate. One pays a set amount of rent per time and the landlord is responsible for all other expenses such as costs of utilities, taxes, insurance, maintenance, and repairs.
The triple net lease is one in which the tenant is liable for a share of various expenses such as property taxes, insurance, maintenance, utilities, climate control, repairs, janitorial services and landscaping.
Office rents in the United States are still recovering from the high vacancy rates that occurred in the wake of the 2008 recession.
Read more about this topic: Office
Other articles related to "office and retail rental rates, rental rates, office and retail, rate, rates":
... Rental rates for office and retail space are typically quoted in terms of money per floor-area–time, usually money per floor-area–year ... For example, the rate for a particular property may be $290 per square-meter–year ($290/m2·a) (or $29/ft2·a), and rates in the area could range $200/m ... In a gross lease, the rate quoted is an all-inclusive rate ...
Famous quotes containing the words rates, office and/or retail:
“In the U.S. for instance, the value of a homemakers productive work has been imputed mostly when she was maimed or killed and insurance companies and/or the courts had to calculate the amount to pay her family in damages. Even at that, the rates were mostly pink collar and the big number was attributed to the husbands pain and suffering.”
—Gloria Steinem (20th century)
“The office ... make[s] its incumbent a repair man behind a dyke. No sooner is one leak plugged than it is necessary to dash over and stop another that has broken out. There is no end to it.”
—Herbert Hoover (18741964)
“A free-enterprise economy depends only on markets, and according to the most advanced mathematical macroeconomic theory, markets depend only on moods: specifically, the mood of the men in the pinstripes, also known as the Boys on the Street. When the Boys are in a good mood, the market thrives; when they get scared or sullen, it is time for each one of us to look into the retail apple business.”
—Barbara Ehrenreich (b. 1941)