ATLANTA (Oct. 7, 2010) - Even as the country's office vacancy rate flirts with record levels, now is the time to start planning for the next wave of office construction. That's the point of view from tenant rep Ken Ashley, who hangs his shingle in Cushman & Wakefield's Atlanta office.
For the record, I agree with Ken, as you'll see when you read his post.
He lays out a pretty solid argument for starting the process now using five points. The first point is that it takes awhile to entitle and build office towers. Even the cookie-cutter four-story, 100,000 square feet office building in Suburb X can take 18 months. Towers take even longer, and two years out, the office market better be better (or we're all in trouble).
His second reason to start the process now is that while demand is a critical component, so too is money. Capital is out there chasing deals, and some of it will be dedicated to building - not just buying - product.
For Ashley's other three reasons, check out his post on The Commercial Tenant Resource.
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