The second quarter of 2007 ended with total available inventory stable as predicted. However, the choices for products under 10,000 sf have increased. This is attributed to the addition of new development in the area as well as existing space being vacated. The preferred space seems to be Class A with 1000 sf of office space, a yard area large enough for semi truck rigs, dock high and ground level over head doors. Of course, location is also a major factor.
A review of 13 properties in that category revealed rents range from $2.25 to $8.00 psf 3 net, with the price depending upon the amount of office space, location, and size. The average rent is between $4.40 and $4.75 psf. No major concessions have been detected in that market segment.
There has also been a slight increase in industrial/warehouse choices in the 10,000 to 30,000 sf category but the selection is certainly less than abundant.
Larry Crumbley, CCIM
Commercial Real Estate Agent
Macon Commercial Office