Welcome to our, How’s The Market? update here at MANSARD. One of the things that we know here at the company is that finding the right commercial real estate buyer who performs on a deal can be hard to do, and bad deals made with wrong buyers lead to failed sales. It’s embarrassing, and you can end up with a discounted sale price, which is a terrible thing. So, we developed a 42-point process to connect commercial real estate owners with high performing buyers who pay the right price so that they experience financially meaningful life events with their investments in real estate.
So, when you sell to the right buyer, you experience a financially meaningful life event with your real estate investment and that’s what this is all about. That’s why we develop and share these market insights in this data because if you don’t understand what’s happening in the market in real time, it’s going to be hard to make the right real estate decision. So, we’ve taken data from Middlesex and Rockingham Counties. These are representative to the Boston suburbs and how we track the sale of retail, office, and industrial properties from 1 to 100 million on an annual basis. The reason why we do this is because we want to understand how making the right real estate decision fits into the overall timing of the market.
In this three-minute video, Jeremy Cyrier, CCIM President & Commercial Real Estate Advisor at MANSARD gives a 2022 update on the office market. Jeremy will take you through some new data, latest sales trends as well as what’s happening in the markets.
The office market is a challenging asset class. It’s become more and more difficult to underwrite, given the rapidly changing and reconfiguring of demand in the tenant market, for how companies are using office space. Pricing wise, we’re seeing pricing bounced in 2020, and we saw this 2021 pricing that was actually pretty good, over $200 a square foot, but that seems to be showing signs of leveling in our market. I think that we’ve got some risks in the market, there’s some deceleration happening. 2022 looks like it’s going to be more of a 2018 or 2016 year, by number of trades for office buildings in the market. So, we may start to see some continued softening in the office market, as the tenant demand story unfolds, where we see leases starting to roll over. Determining whether we’re going to see continued occupancy, or continued leasing of space, as companies try to sort out hybrid versus full time in the office.
If you want to be kept in the loop on what’s going on, and if you are interested in learning more about us, you can visit our website at http://www.mansardce.com. We’re here to help and if you have any questions, feel free to reach out. We look forward to seeing you on our next market update!
Subscribe to MANSARD’s Youtube Channel: https://www.youtube.com/channel/UCGn7…
Check Out Our Latest Video: https://www.tubebuddy.com/quicknav/la…
Get Your Selling & Capital Gains Tax Guide: https://masscommercialproperties.com/…
Want to know how to calculate commercial real estate value? https://masscommercialproperties.com/…
Connect with MANSARD on LinkedIn: https://www.linkedin.com/in/jeremycyr…
Follow MANSARD on Facebook: https://www.facebook.com/mansardcre