3 ms·

30 grand a year for 1 office means you are paying upwards of 10 dollars per square foot of space, your office space is waaay too expensive.

by hobs 5y ago

AmericanChopper 5y ago
> your office space is waaay too expensive I think a lot of people who rent office space (especially in expensive cities) would agree with you here.
dataqat 5y ago
"Average office rent in San Francisco rested at $87.18 per square foot in 2020." https://www.commercialcafe.com/office-market-trends/us/ca/san-francisco/ https://www.commercialcafe.com/office-market-trends/us/ca/sa...
vel0city 5y ago
The offices I work out of in a suburb of DFW are >$20/sqft and its not really that fancy of an office building. My wife works commercial property management in the suburbs of DFW, most of the properties she manages have rents >$30/sqft. And real estate is considered cheap in Texas!
- JohnFen 5y ago
  Where I live and work, the average cost of high-quality office space is around $5/sqft (the average cost overall is $2). And no, I don't live in the boonies. I live in a city with a considerable tech presence.
  - vel0city 5y ago
    Even cities like Cincinnati or Huntsville are nearly $20/sqft average for rent, $5/sqft for an office space in a city is seems absurdly cheap in the US. Its extremely outside the norm for most offices in the US. https://www.commercialcafe.com/office-market-trends/us/al/huntsville/ https://www.commercialcafe.com/office-market-trends/us/al/hu... https://www.commercialcafe.com/office-market-trends/us/oh/cincinnati/ https://www.commercialcafe.com/office-market-trends/us/oh/ci...
  - vel0city 5y ago
    Average cost $2?! You must be thinking monthly, not yearly. Most of the time you hear commercial $/sqft it's the yearly rate, as 5 year leases are pretty common in commerical leases while extraordinary rare in residential. To put that number into perspective for those used to thinking residential leases, that would mean a 900sqft apartment would rent for $150/mo. Normally commercial leases are slightly more expensive per square foot in literally every market I've ever looked at. Please, do tell me market in the US where I can rent a 2,000sqft apartment for $333/mo and live in a decent metro area.
    - JohnFen 5y ago
      Yes, I'm talking monthly. The residential prices in my area are MUCH higher. A 1000sqft apartment goes for around $1200/mo.
      - vel0city 5y ago
        Ah, that's where the disconnect is. $2/sqft/mo works out to $24/mo yearly (obviously) which is definitely more in line with the numbers I was talking before. ~$20/mo seems to make sense to me, much higher than that and I just don't understand paying those rates. There's plenty of wonderful places to live and work with commercial real estate in the $20's.
    - hobs 5y ago
      fwiw the commercial asset management product I did data stuff for always quoted it by month so that's what I was talking.

30 grand a year for 1 office means you are paying upwards of 10 dollars per square foot of space, your office space is waaay too expensive.

by hobs 5y ago

30 grand a year for 1 office means you are paying upwards of 10 dollars per square foot of space, your office space is waaay too expensive.

AmericanChopper 5y ago

> your office space is waaay too expensive I think a lot of people who rent office space (especially in expensive cities) would agree with you here.

dataqat 5y ago

"Average office rent in San Francisco rested at $87.18 per square foot in 2020." https://www.commercialcafe.com/office-market-trends/us/ca/san-francisco/ https://www.commercialcafe.com/office-market-trends/us/ca/sa...

vel0city 5y ago

The offices I work out of in a suburb of DFW are >$20/sqft and its not really that fancy of an office building. My wife works commercial property management in the suburbs of DFW, most of the properties she manages have rents >$30/sqft. And real estate is considered cheap in Texas!

JohnFen 5y ago
Where I live and work, the average cost of high-quality office space is around $5/sqft (the average cost overall is $2). And no, I don't live in the boonies. I live in a city with a considerable tech presence.
- vel0city 5y ago
  Even cities like Cincinnati or Huntsville are nearly $20/sqft average for rent, $5/sqft for an office space in a city is seems absurdly cheap in the US. Its extremely outside the norm for most offices in the US. https://www.commercialcafe.com/office-market-trends/us/al/huntsville/ https://www.commercialcafe.com/office-market-trends/us/al/hu... https://www.commercialcafe.com/office-market-trends/us/oh/cincinnati/ https://www.commercialcafe.com/office-market-trends/us/oh/ci...
- vel0city 5y ago
  Average cost $2?! You must be thinking monthly, not yearly. Most of the time you hear commercial $/sqft it's the yearly rate, as 5 year leases are pretty common in commerical leases while extraordinary rare in residential. To put that number into perspective for those used to thinking residential leases, that would mean a 900sqft apartment would rent for $150/mo. Normally commercial leases are slightly more expensive per square foot in literally every market I've ever looked at. Please, do tell me market in the US where I can rent a 2,000sqft apartment for $333/mo and live in a decent metro area.
  - JohnFen 5y ago
    Yes, I'm talking monthly. The residential prices in my area are MUCH higher. A 1000sqft apartment goes for around $1200/mo.
    - vel0city 5y ago
      Ah, that's where the disconnect is. $2/sqft/mo works out to $24/mo yearly (obviously) which is definitely more in line with the numbers I was talking before. ~$20/mo seems to make sense to me, much higher than that and I just don't understand paying those rates. There's plenty of wonderful places to live and work with commercial real estate in the $20's.
  - hobs 5y ago
    fwiw the commercial asset management product I did data stuff for always quoted it by month so that's what I was talking.