Congratulations, business is good and you’re ready to open your first office! Now what? Startup companies that reach the point of needing an office location should examine all of their options before committing to office space. The toughest part of choosing that first office is knowing what criteria to base your decision on. Keep in mind that real estate costs are typically the second or third greatest expense on a company balance sheet, and many companies stay the red because they carry more facility related overhead than necessary.
Urbanization's Effect on Commercial Real Estate
The great recession killed the suburbs. Since 2007, metropolitan cities across the country have experienced a migration of residents towards urban living environments. This trend could be the answer to urban decay, with many seeking more fiscally practical and cohesive living arrangements. Referred to as "re-urbanization", the trend is the opportunity San Diego needs to return neglected areas of downtown to their former prestige. Large adaptive reuse and infill projects have gained traction from Little Italy to East Village, including dynamic public spaces, but it will require buy-in from local employers before the transformation of 'America's Finest City' reaches its potential.