|
No doubt that will happen big time in DC. Buildings going up everywhere and land in the city is getting harder to find. They rent them as fast as they build them. Buildings cannot be as high as the monument so that limits them to approx 11 floors. Average office space is renting for $150.00 a square foot and the tenant just gets a deck to be built out at their expense. Then the management company comes in and provides an engineer and assistant, a consiege, and security. For this they get somewhere between 3% and 10% of rental fees. When any maintainence needs to be done they backbill the tenant. Many of the homes I worked in during the past five years are gone, kinda, as they leave the original front and as a face to the new buildings which are a block square. I just cant imagine all those homeowners want to sell.
|