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Occasionally, I transact office deals although my specialty is industrial - manufacturing and logistics warehouses. Differences between the two genres are minimal yet vast. Recently, a client requirement thrust me into the world of office leasing. You see, we fulfilled a need with a long term agreement on a new warehouse building. An amazing space was procured with all of the modern amenities - except for one - enough office space to house the employees. We encountered an owner unwilling to construct more. Why? Because the dollars needed to build wouldn’t yield an adequate return. Plus, once our guy vacates - the next occupant won’t find value. Solution? Find a suite of offices close by. Easy. Hmmm. Not so fast.
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