#BeyondYourSpaceNeeds Episode 50: Thinking of Renewing Your Lease and Waiting to Buy?

Thinking of renewing your lease and waiting to buy? With the risk of short-term tightening of credit markets in the near future and sellers more willing to negotiate, I urge you to consult with an experienced commercial real estate agent to make an educated decision.

Here’s an example of law firm using 3,000 of office space.

Current lease

3,000 SF @ $25 PSF

$6,250 / month

Potential renewal

3,000 SF @ $20 PSF

$5,000 / month

$300,000 in landlord’s pocket over 5 year lease term

Purchase

3,000 SF @ $250 PSF

$750,000

15% down / 15 year term / 15 year amortization / 4.5% fixed

Approximately $4,900 / month

With bi-monthly payments, potential to pay off in 13.5 years

We do lease versus purchase and space needs assessments multiple times per day and can provide you with a complimentary assessment of your specific situation.

Amy Calandrino, CCIM is a Commercial REALTOR and founder of Beyond Commercial a commercial real estate firm serving entrepreneurs and professionals. Amy is an engaged Winter Park resident / business owner and passionate about community involvement. Outside of the office, Amy serves on a number of boards and committees including but not limited to: Florida CCIM Chapter Central District as President, Winter Park Chamber of Commerce Leadership Alumni Council President, Victim Service Center of Central Florida Cheers to Change Committee, and Seacoast Bank Central Florida Advisory Board. —- Thank you for watching this video. Follow Amy and Beyond Commercial Online Here:

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