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Office Condo Trend

HolidayInnExpress

By HolidayInnExpress
in Grand Rapids

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HolidayInnExpress Whistle-Stop

HolidayInnExpress

Posted
Posted

Office condo developers are active in smaller markets where you might

not expect them to be, such as Grand Rapids, Mich., and are all but

missing in some much larger markets, including Los Angeles, San

Francisco and Boston.

Do any of you connected individuals know of the manifestations of this trend in Grand Rapids...in regards to examples? More and More I see an Office Tower in Grand Rapids near future....a tall one at that. Reduced office vacancy rates....tremendous CBD growth momentum which will spur increased demand to be downtown for work and residence.

http://biz.yahoo.com/prnews/051214/cgw019.html?.v=32

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Nitro Burg

Nitro

Posted
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Do any of you connected individuals know of the manifestations of this trend in Grand Rapids

The condo vs. lease gig is really market driven. More people are interested in owning right now.

We've done both concepts and everytime we choose its just a matter of what's in demand more.

Nitro

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GRDadof3 Ecumenopolis

GRDadof3

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IMO you always want to own RE unless you need to keep it off your balance sheet (mainly public companies). Over the long haul has real estate ever depreciated?

Yes, especially in ultra-hot speculative areas like California. But it tends to go in cycles, and eventually they come back from their lows (like stocks). Some are predicting that most of the country will see real estate values go down this coming year :unsure:

Sorry Gary, I just noticed you said "over the long haul".

Insurance companies hoard real estate.

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HolidayInnExpress Whistle-Stop

HolidayInnExpress

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Thanks for the Info. Is this phenomenon of office condo relatively new as the article suggest? Has leasing been the only historical option for a business or company that cannot afford a whole building?

PS...

Technically all matter should depreciate/decay (entropy) as a rule of nature. One has to reinvest money into a home to keep it up and if one does not invest that money...it may indeed depreciate relative to the rate of inflation...even in the long run. Thus, it is the reinvestment into the home that accounts for appreciation...which in truth is not really a gain unless the aggregate appreciation is greater than the aggregate reinvestment...adjusted for inflation. A house by nature is a depreciating/decaying asset...its the land the land and demand for the land that is the true appreciating instrument.

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GRDadof3 Ecumenopolis

GRDadof3

Posted
Posted

Thanks for the Info. Is this phenomenon of office condo relatively new as the article suggest? Has leasing been the only historical option for a business or company that cannot afford a whole building?

PS...

Technically all matter should depreciate/decay (entropy) as a rule of nature. One has to reinvest money into a home to keep it up and if one does not invest that money...it may indeed depreciate relative to the rate of inflation...even in the long run. Thus, it is the reinvestment into the home that accounts for appreciation...which in truth is not really a gain unless the aggregate appreciation is greater than the aggregate reinvestment...adjusted for inflation. A house by nature is a depreciating/decaying asset...its the land the land and demand for the land that is the true appreciating instrument.

HolidayInnExpress, are you this much fun at parties too? Because we're having a Christmas Party at our house tomorrow night.... :)

I'm J/K. I think you're right. And I believe it is a very new phenomenom around GR, and Second Story Properties seems to be leading the pack right now.

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HolidayInnExpress Whistle-Stop

HolidayInnExpress

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HolidayInnExpress, are you this much fun at parties too? Because we're having a Christmas Party at our house tomorrow night.... :)

I'm J/K. I think you're right. And I believe it is a very new phenomenom around GR, and Second Story Properties seems to be leading the pack right now.

Is that why I never get invited to parties? :cry:

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Rizzo City

Rizzo

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WEEE OOOO WEEEE OO WEEEEEE OOOOO, STOP RIGHT THERE. This is the rent-a-forum-cops, YOUR ARE IN VIOLATION OF THEFTING SOMEONES THREAD, come with me and my mysterious looking partner while we take you downtown to our rent-a-forum-cop headquarters. WEEE O WEEE O WEEEEEEEEOOOOOO

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