A few months ago I transitioned from residential to commercial real estate. Truth is for the past two years I have applied commercial principles to residential real estate investments. This explains my lackluster success with non-investor residential clients but I digress.
To get my feet wet, I began with what I love ….Data! Data! Data!. (NOTE: If you remember Cody from the Step by Step TV show, you read that part correctly). In this week Data Chronicles, I unpacked the Office Space trends in the Dallas-Fort Worth Market. I work with small- to mid-sized businesses who are in transition. So, my goal was to find a way to address their pain points.
What I realized is that as big corporations chase quality office space, they are vacating office spaces physically but not actually. These vacancies are not reflected in the data. Technically the corporations are still tenants because the leases have not ended. Hence, my small- to mid-sized clients who need short-term solutions may be able to find a favorable deal. Time to make some phone calls.