What's the commercial real estate market like?

[Shaun @ Tru6]

I could also have titled this, "Where should I move to?"

My lease will be up soon here at Little Traveler World Headquarters and I've got options on moving.

What is Brooklyn like these days? I don't need more than 2,000 square feet, could use a little less, do need water and serious electrical. Something like an artist's cooperative in Williamsburg would be great, I could rent out use of the silk screen equipment and probably cover half my rent.

What are rents like these days in the NY-Metro area?

or should I move to NH, $1/sqft.

or maybe Minnesota?

NY would be my first choice. what's out there?

[EarlyPorsche]

I can tell you that DC area is really picking up steam but it also has some of the lowest unemployment and more support than many other areas. If I recall you do shirts for a living? Do you need retail space or could you go with warehouse? There are shared warehouse spaces everywhere usually put on craigslist. Careful with the brokers...they may not be working in your best interest.

[The Gaijin]

This recession has not hit NYC to hard, and a few commercial real estate projects on hold, but prices have not come down too much.

Any artist's cooperative or anything like that, they may object to your doing actual production and trying to make a living. Plenty of parents paying lots of bills drives up demand and lowers supply. But the turnover is high.

Brooklyn can be a tough place to live. Alternate side of the street parking rules, pot holes, noise, traffic, getting back and forth to Manhattan, getting out of the city..

[Shaun @ Tru6]

I need commercial/light industrial which is what I have now, I only sell wholesale to department stores and small stores on Main Street, so anything warehouse on up will do. I'm also considering moving all silk screen equipment to central CT (family) and then moving to NYC or similar. lot of options.

Thanks for the note on CL and brokers.


I've lived on the upper west side, fur district and had a gf long enough in Park Slope to claim it. Honestly, anything close to Manhattan-proper would work, though I just can't see myself living in Jersey.

[Tishabet]

Shaun, depending on your needs you might take a look at Lowell... lots of cool commercial space (including many live/work spaces) and lots and lots of art community.

[Racerbvd]

Head south, look for an old building, down down area, work down stairs, live up stairs, inside Porsche storage...

I have thought about doing that myself...

[Shaun @ Tru6]

Thanks Grant, would you have any building names I can google? I'll call the Lowell Chamber of Commerce tomorrow to see if they can be of any help.

I also have emails in to all my Manhattan/Brooklyn stores to see what they say.

[kaisen]

Love to have you back in MN Shaun

Rents here are much less, of course

[Tishabet]

Originally Posted by Shaun 84 Targa

Thanks Grant, would you have any building names I can google? I'll call the Lowell Chamber of Commerce tomorrow to see if they can be of any help.

I also have emails in to all my Manhattan/Brooklyn stores to see what they say.

The first place that came to mind is Western Ave, but looks like the largest space they have listed on their website is 1126 s.f. I would maybe consider speaking to them anyway, as they are fairly flexible (and have an incredibly large building), I spoke with them for a while about developing an indoor space for me to work on antique cars.
Western Avenue Studios

Next spot I would check out is Boott Mills, which is an old industrial mill building. They seem to have converted mostly for office space and residential space but may have space suitable for your wants and needs... it is a huge complex and I don't think they have even converted all of it at this point.
Overview Summary

Next I would check out Wannalancit Mills... pretty much same deal and Boott but I think they have converted all of the space.
Here is one link to property there, but don't know if this covers the entire place.
Farley White Interests: Wannalancit Mill, Lowell MA

Finally, I would give a call to the guys at LowellLofts.com; they have a good feel for the market and seem to have a lot of commercial properties listed.

Also, consider that Lowell is commutable from Cambridge if you want to keep on living there... downtown Lowell to Harvard Square is about 40 minutes without traffic, and the reverse commute would work in your favor. Also, the commuter rail from Lowell to North Station is about 45 minutes on a weekday.

[deanp]

Tishabet
Next spot I would check out is Boott Mills, which is an old industrial mill building....

Grant - not to stray from Shaun's questions, but we were at the Worcester Art Museum on Sat AM and there was a painting there donated by an ancestor of the family that built Boott Mills.....

[Jagshund]

You can buy 2-3 story brick buildings in old town areas here in Georgia for as little as $150k. My wife and I are considering the idea so that I can have a large shop on the ground floor and we can continue to host family & extended family. The downside is that most of the locations are about 1 hour from any major metro area (but if you found a place in a hamlet like Auburn you'd have BMSP, Road Atlanta and other tracks within 2 hours).

Another downside: Some buildings may cost upwards of $100k to transfer to a residential setup.

[campbellcj]

Vacancy is around 60% in the building in Santa Monica where my office is. We are negotiating a new term right now and may even end up paying less effective rent than we were in the prior term. For the last couple years they were trying to get 30-50% higher than this and saw some serious tenant flight plus everyone left is disgruntled and thinking about bailing. Really stupid, nearly suicidal, management decisions.

[jwhcars]

Come the central Pa there are a few garment manufacturing building available.
There is a warehouse in Schafferstown Pa that has more than enough room and I suspect rent is at around the $1/sq ft range or less.

[Rich76_911s]

Would you be making enough savings to make up for the added cost to be in NYC?

I absolutely understand why someone would want to be there. The problem is it just costs so much in rent, living expenses, entertainment, parking, ect. . . .

I know a great little place in East Greenville, PA Doesn't have the babes, booze, good times that NYC has, does have some great 911 driving roads though!

[Shaun @ Tru6]

Crazy busy day, thanks everyone for the replies, Grant, great links, thank you!

Rich, I left a message last night. Thought of the mill actually. We should talk.

[Shaun @ Tru6]

Grant, these are some great places, thank you. Looks like there's a lot to choose from in the commercial market and rents are dirt cheap.

Are you still looking for space to work on antique cars? Old Buicks, right? if interested, perhaps we could find a place that would work for both of us.

I'm meeting with my landlord on Monday.

Originally Posted by Tishabet

The first place that came to mind is Western Ave, but looks like the largest space they have listed on their website is 1126 s.f. I would maybe consider speaking to them anyway, as they are fairly flexible (and have an incredibly large building), I spoke with them for a while about developing an indoor space for me to work on antique cars.
Western Avenue Studios

Next spot I would check out is Boott Mills, which is an old industrial mill building. They seem to have converted mostly for office space and residential space but may have space suitable for your wants and needs... it is a huge complex and I don't think they have even converted all of it at this point.
Overview Summary

Next I would check out Wannalancit Mills... pretty much same deal and Boott but I think they have converted all of the space.
Here is one link to property there, but don't know if this covers the entire place.
Farley White Interests: Wannalancit Mill, Lowell MA

Finally, I would give a call to the guys at LowellLofts.com; they have a good feel for the market and seem to have a lot of commercial properties listed.

Also, consider that Lowell is commutable from Cambridge if you want to keep on living there... downtown Lowell to Harvard Square is about 40 minutes without traffic, and the reverse commute would work in your favor. Also, the commuter rail from Lowell to North Station is about 45 minutes on a weekday.

[Shaun @ Tru6]

Originally Posted by kaisen

Love to have you back in MN Shaun

Rents here are much less, of course

I still miss Stillwater, would love to come back. We'll see.

[Tishabet]

Originally Posted by Shaun 84 Targa

Grant, these are some great places, thank you. Looks like there's a lot to choose from in the commercial market and rents are dirt cheap.

Are you still looking for space to work on antique cars? Old Buicks, right? if interested, perhaps we could find a place that would work for both of us.

I'm meeting with my landlord on Monday.

Shaun, PM sent.

[Shaun @ Tru6]

met with landlord yesterday, I agreed to stay for the summer, building next door to me may be opening up by the end of the summer. Grant, it's a cavernous first floor industrial with 2nd floor offices. I could run a Porsche repair shop out of it as well as Little Traveler, certainly room for a Buick or two. Time will tell, will keep you up to date.

I'm going to NYC on Thursday to visit some customers, going to get their input for the future.

Eric, looks like I'll be in MN (Eagan) 2 weekends after this one, May 21 - 24. Will let you know.

[VINMAN]

Tons of empty commercial space in my area. Way too much