202 West 5th Street
1750 square feet of office space including 3 parking spots. the suite includes three large offices, open area, 2 bathrooms, kitchen and skylights. Experience downtown Royal Oak.
The trend in commercial real estate across the country is stagnant. Few properties are being sold; sales are down 70% since last year. Tightened credit guidelines make it difficult to purchase commercial properties forcing many property owners into bankruptcy. As unemployment rises there will be far less tenants in the marketplace to lease providing greater challenges to landlords.
In addition to the overall economy, many cash strapped landlords lack the capital required to make significant upgrades to their property in order to compete with lower lease rate buildings that are in better condition. The problem will only get worse for building owners. What does this mean to the tenant? Opportunity. With a more competitive marketplace, office tenants can upgrade their space and possibly pay lower lease payments every month.