Leases
View our current list of leases.
Leasing in the Eugene-Springfield Metro Area
In trying to make a decision about how much to pay for rent, a tenant will often ask us about the current market rent. However, we often find that we have to look at past trends as well as current trends in order to give them the proper advice. In reflecting back to 2007, we saw that most of the activity in the market was from leasing tenants who were looking to downsize due to tough economic times.
Some tenants that were not sure what was happening with their market did nothing because they were paralyzed by fear and uncertainty. In March of 2008 we saw a wave of those types of tenants who now had to move quickly in order to preserve their market share and keep their business afloat. Many tenants did not want to necessarily move to a new location and relocate; they just needed cheaper rent in order to survive their market and cutbacks.
Most landlords resisted rolling back rents in 2008. However, as of the 3rd quarter of 2009 we have seen rents roll back anywhere from 10 to 15% for both office and industrial uses. For instance a space that was leasing for $.45 per square foot triple net (where the tenant is responsible for the taxes, insurance, maintenance, and all of the expenses with the building in addition to their rent) are now in the area of $.39 per square foot. While six cents per square foot may not sound like a lot, on a 10,000 square foot building that can make a $7,200 difference to the bottom line annually for a tenant.
Retail space took an even bigger hit with vacancy issues and rents have continued to drop as owners struggle to keep their spaces full. We are seeing rent decreases of 25 to 35% less than they were in 2007.
What can Pacwest Brokers do for you?
We can help you locate in the area of town that strategically fits your shipping and service needs. We will also focus on important details like ceiling heights, shipping accessibility, utility needs, etc. We will work hard to accommodate those particular uses upfront to ensure the space fits your needs.
We feel that our ability to negotiate tenant improvement to any space is our strong suit. We can show you the mechanics of how a landlord will value the improvements to make you profitable as well as keeping you as a quality tenant.
Typical Cold Call from a Tenant:
Here are typical questions we receive on our listings:
I am calling regarding your listing on West 11th. I am looking for some exposure and need to be near the Beltline Highway. Does this space have sprinklers? What are the ceiling heights? Does the space have three phase power?
Pacwest Brokers are trained to ask and look for what amenities you’re looking for in a space. We will work hard to determine what your wants and needs are space. We can assist you in a wide range of leasing which includes office, industrial, or land. We work with all brokerage firms in the local area and usually know about a vacant space becoming available before it hits the market.
Give us a call and let us work together to place you and your business in a lease space that will grow your business. Pacwest Commercial Real Estate, Inc. (541) 686-8246
