The Perfect Moment to Negotiate Office Rent
The sweet spot occurs when 75% or more of a market’s peak-to-trough decline has occurred.
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Dated industrial product is still one of the top choices for creative office conversion. In San Diego—like in many markets—creative office has become ubiquitous for all office users, and the limited supply of created space is creating opportunities for developers. BLT Enterprises has experience converting these spaces into creative office, and likes the open layout that industrial provides. The firm recently completed converting 6,500 square feet of raw industrial space in the Sorrento Mesa into creative office, installing roll-up doors, outdoor patios and upgraded kitchens. The firm has seen success with similar projects in the San Diego market, and says there is a pent-up demand for creative space. To find out more about the demand for creative space, why industrial is a good choice for creative conversion, we sat down with Bernard Huberman, CEO and founder of BLT Enterprises, for an exclusive interview.
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The sweet spot occurs when 75% or more of a market’s peak-to-trough decline has occurred.
While the multifamily sector is still understanding the impacts of the COVID-19 pandemic, affordable housing is showing strong fundamentals.
San Diego recorded negative 877,000 square feet of office absorption in 2020, ending the market’s decade-long growth run.
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