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Centre D’Affaires Des Galeries (CDG)
Lebourgneuf-Québec
Washington Post, July 9, 2007
'Nonprofit groups are figuring out how to dodge escalating rents in
Washington's hot commercial real estate market: They're buying
office condos.'
Tuesday, July 03, 2007
www.thebusinessledger.com“We are at an office condo in downtown
Wheaton and that has turned out to be one of our best investments,”
said Lopatka. “We have seen a 100 percent increase in our property
value over 23 years. We were way better off investing.”
Orlando Business Journal - June 15, 2007 Conroy office-condo prices
soar above $300 per SF
May. 29, 2007 www.azcentral.com "Instead of paying a landlord a
lease payment, they're paying themselves,"
SAN DIEGO Daily Transcript April 19, 2007 Office condominiums gain
foothold for small businesses ''Burgeoning demand for office
condominiums -- offices that small businesses can purchase instead
of renting -- reflects an evolving relationship between commercial
tenants and landlords. With the price of money historically low,
greater numbers of small businesses are choosing to purchase
offices as a means to build up equity, achieve new tax benefits..
The Office and Commercial Condo Conference March 26-27, 2007
(USA)
''almost 500 office and commercial condominium projects were
actively being marketed. ... ''
''To borrow a phrase from the manufacturing industry, the Quebec
City office...market is performing at full capacity....the hottest
commercial real estate market east of Alberta! / Pour emprunter une
phrase à
l'industrie manufacturière, le marché...de bureaux à Québec performe
presque à pleine capacité.'' Espace Quebec vol.12 No.1, 2006
Biggest Office Condo Project in the Country Reaches Completion
March 21, 2007 Commercial Property News(CPN)
Development of Ironwood Office Suites, a 430,000-square-foot office
condominium project in Scottsdale, Ariz., has reached completion. All
space at the multi-structure property, which was developed by
Scottsdale-based real estate firm Saxa, has already been spoken for
at the $80 million property.
July 21, 2006 Tampa Bay Business Journal
'Office condominiums continue to grow in popularity'
January 25, 2007ladowntownnews.com
"I think this commercial office condo segment will be hotter than a
firecracker,"
said Jack Kyser, senior vice president and chief economist of the Los
Angeles Economic Development Corporation
GlobeSt.com November 20, 2006
CB Richard Ellis office condo white paper...once you factor in
components such as tax savings and the value an owner builds as the
asset appreciates over time, the net cost of owning over a 10-year
period is lower than renting, on a after-tax basis...'
New Mexico Business Weekly - July 28, 2006
'...more business owners opting for mortgages over rent payments...a
growing office condominium market in the Albuquerque metropolitan
area... a product that... is not going to lose its appeal any time soon.'
GlobeSt.com SCOTTSDALE, AZ-
S.Bergsman ..'office condos are increasingly becoming the first
choice of space'
Jan. 2006American City Business Journals Next frontier for condo
development: ''Buying an office condo is a built-in savings plan for a
company..What is different is the company is building equity ...that
will appreciate in value.."
22 Jul 2006 The Cincinnati Enquirer
'Plans for a $70 million medical office and condominium complex have
neighbors asking: Why build another project when nearby commercial
properties are empty?'
6/27/2006 DenverPost.com
'Many hard-nosed small business owners who would never consider
renting, rather than owning their homes, seldom - if ever - consider
owning their own buildings. Why is that? Not only are they passing up
an opportunity to rent from a friendlier landlord - themselves - they
also miss out on an opportunity to own an equity-building asset and
substantial income stream that can come in handy when they sell
their business.'
26 Jun 2006 realestatepress.org
'According to a new research report the office and industrial condo
markets in Orlando are now growing rapidly'
June 5, 2006 Orlando Business Journal
'Firm principals believe the project will attract investors who want to
lease out space, as well as professionals who own their own
businesses. The condos offer a maintained building and parking, with
each space having its own entrance off the parking area, as well as
turnkey interior space'
''Commercial condominiums accounted for all of Silicon Valley's new
office construction in 2005 -- 348,000 square feet, according to
brokerage NAI BT Commercial. Condo units, typically 750 to 3,500
square feet, allow small-business owners to buy their own space
rather than lease...'' Feb. 28, 2006 Mercury News.
San Antonio Business Journal - April 7, 2006 'A new local
development firm is bringing the next generation of office condos to
San Antonio. ...two, three-story buildings ... a departure from most of
the office-condominium developments in San Antonio. Most of the
office-condo properties that exist, to date, are single-story, ...built to
Class-A office building standards, including on-site security and high-
end finishes in the common areas, ...christened the Shavano Oaks
Office Park, will be located on four acres of land at Loop 1604 and
Paesano's Parkway'
Interest rates would have to break the 12% barrier before CDG would
reach rental cost equivalency .
Re-financing and investment in residential real estate will yield to
alternative individual real estate holdings such as office condos.
Le taux d’inoccupation des espaces à bureaux est à la baisse en 2005
pour la septième année consécutive à Québec. Il s’établit à 4,0 %
comparativement à un taux de 20,1 % en 1998. l s’agit du plus bas taux
d’inoccupation dans la région depuis 1989. Le taux d’inoccupation de
Québec se situe au plus bas niveau au Canada en 2005 devançant
Calgary (7,3 %),Winnipeg (8,3 %) et Edmonton (9,7 %). Au cours de la
dernière année, la plus forte baisse du taux d’inoccupation s’est
produite dans les immeubles de classe B et C (moyens /fonctionnels),
alors que le taux a légèrement augmenté dans les immeubles de
classe A (haut de gamme). Bureau de la Capitale Nationale(Oct. 2005)
Prolongement de l'axe routier du Vallon
Les travaux de la première phase visant à construire le tronçon
Lebourgneuf- Chauveau se déroulent efficacement et comme cela a
été prévu à l'échéancier annoncé, les travaux sur le deuxième tronçon
de 2 km entre l'avenue Chauveau et le boulevard Bastien débuteront
lundi prochain QUÉBEC, le 21 oct. CNW Telbec
Office development in metro Chicago is at a standstill except for ...
Office condo ...definitely a craze now in Chicago.. You ask buyers the
same question you'd ask a residential buyer: Why rent when you can
own?...loan packages to finance such purchases...parallels our
experience in making SBA loans...Commercial Property News
October 21, 2005
La Société immobilière Cagim investira 12,5 M$ dans la construction
de la Place d'affaires Lebourgneuf. La Banque Scotia...ouvrira sous
peu à Lebourgneuf Juillet 2005
Prolongement de l'axe routier du Vallon
-Début des travaux qui font enfin de ce projet une réalité. Le Ministère
investira 23 millions de dollars dans ce projet, tandis que la Ville
assumera le reste de la facture, soit 24 millions de dollars. Le premier
tronçon, s'étend sur 2,3 kilomètres entre le boulevard Lebourgneuf et
l'avenue Chauveau.
La réalisation du second, entre l'avenue Chauveau et le boulevard
Bastien, débutera l'automne prochain, ce qui nous mènera à
l'ouverture officielle du prolongement de l'axe routier du Vallon à
l'automne 2006.
''The overall office vacancy rate in the central business district is 14
percent to 17 percent, Shadowen said. In the suburbs, it's 9 percent to
14 percent. The big news is office condos, where business owners
buy space or floors within buildings.There's 1 million square feet of
office condos and 32 properties on the market or on the drawing
board...''Sunday, April 3, 2005 TIMES-DISPATCH
Richmond Virginia
''Low interest rates have fueled the housing boom of the last few
years, but now small-business owners are beginning to look to the
office market as the next big real estate venture.'' Oak Brook
Business Ledger march 2005
''…office condo…good place to park money for the long term''
Atlanta Business Journal / 2003
‘’Corporate Pointe Business Park ..in South Forsyth..unlike many
office condo projects built like homes and apartments with wood
frame buildings, the NorthPoint Group will use commercial office
building construction materials
and designs.‘’ North Fulton / Feb.2005
''..office condos have been a bright spot in an otherwise gloomy office
construction market, according to the National Association of
Industrial and Office Properties. Small businesses are attracted to the
product because it allows them to build equity and customize space..''
Finance and Commerce June 2004.
''What gives? In the worst office market in years, developers are
developing office condo space…a condo is a wealth building
vehicle…value of real estate has a floor under it, especially if you buy
in blue chip areas…the stock market has no floor'' Atlanta Business
Journal / 2003
''Office condominiums are making a come back…a buyer can get a
fifteen year note and have an asset at the end…they expected to take
two years to sell the units, but …was sold in nine months…we could
have sold twice as many…as land prices continue to rise and prime
locations are taken the office condo market
becomes…attractive…individuals can’t afford to buy a lot in a good
location…
offers ownership as well as an investment…people are finding out
that you can be an owner for about the same monthly expense as
being a tenant…'' Albuquerque Tribune July 2003
''Office condo developer plans suites, seeks more sites…executive
suite tenants typically share…amenities…'' Business Journal :
Jacksonville and North East Florida
''Pike Hall, who has developed three office-condo projects, has
planned two more…'' jacksonville.com June 2003
''…purchase of an office condo usually financed by small
loan…developers are taking popular residential concept into office
buildings…'' Washington Business Journal May 2003
''Office…condominium projects are now springing up across the
region…it is important to buy in a good location and build equity.''
South Florida Business Journal June 2003
''Brooke Chase Properties…to build office condos…for sale $165. to
$175. per square foot…leased for $16.50 per square foot'' Charlotte
Business Journal Jan. 2003
San Jose Office Centre : River City Homes and Development Inc.
''…office condo development, …allows people to buy single or multiple
units for office use or investment purposes…''
''condo craze… some developers… are relying on office condos to
navigate the through Orlando’s shaky office market…office condo
mortgages are running 20% or 30% less per month than…leases ''
Orlando Business Journal July /2003
''Developer signs first tenant for…office condos…seems like a no-
brainer…once people …understand how it works…will catch on
quickly…'' Birmingham Business Journal June 2003
''Office condos are hot…800,000 square feet of new space…niche
market expanding exponentially…''
Phoenix Business Journal March 2003
''Carr has built about a dozen office condo projects in High Point,
Winston-Salem, Greensboro and Salisbury…reason for the
surge…value of owning vs. Leasing…office condos are a good
investment…'' Triad Area Business Journal
'' first new condo building … in downtown Denver…on a before-tax
basis, buying space is comparable to leasing …but when
depreciation and the chance of appreciation are factored in…it makes
a lot of more sense to own…''
Rocky Mountain News Oct. 2003
'' Shea Commercial opens local office...developed more than one
million square feet of office condo...in Arizona, Nevada & Southern
California.''
Dallas Business Journal Nov. 2003
'' one of the hottest real estate investments these days…
-easier access to customers
-ability to sell property at any time compared to getting out of a lease
-lease part or all of the property to a tenant
-renovate at any time
-refinance
-asset on balance sheet.. borrow against it, if you need to...
-office condos can be likened to an automatic retirement account..''
Cincinnati Business Journal Oct. 2003
''Office condo developments heat up...numbers still work when
interest rates are as high as... 11%...interest rates are only a part of
the lure... tax advantages, control of property and the ability to create
stable real estate payments...Riggs was selling office condos... at
13%...cost savings on owning versus leasing on an after-tax basis
over the long term can range from 25% to 50%...'' National Real Estate
Investor Nov. 2003
''Nationwide, interest in office condominiums is up sharply.'' Highmark
Funds (Orlando Sentinel) Jan. 2004
''North Scottsdale office condo...is one of the first in the valley...
100,000 square ft. ...complex...owning is often cheaper than leasing,
offers tremendous tax advantages, is an investment vehicule that
appreciates in value, and enables complete customization of size,
location, and financing.'' Business Journal Phoenix March 2004
''owners are not dropping rental rates commensurate with interest
rates because they’re long-term owners and they anticipate interest
rates going up. But buyers can lock in the rates.'' Sunspot.net July
2003
Interest rates would have to break the 12% barrier
before CDG would reach rental cost equivalency .
''Le taux d'inoccupation des espaces à bureau est en train
de battre des records dans la region de Québec. Il atteint
maintenant la barre des 4%.'' Le Soleil (Québec) 2006
(Québec city office vacancy rates drop below 4%)
''Quebec City among the most affordable in the
world…''
Cushman&Wakefield, Royal Lepage (office rental rates)
Lebourgneuf-Québec
Washington Post, July 9, 2007
'Nonprofit groups are figuring out how to dodge escalating rents in
Washington's hot commercial real estate market: They're buying
office condos.'
Tuesday, July 03, 2007
www.thebusinessledger.com“We are at an office condo in downtown
Wheaton and that has turned out to be one of our best investments,”
said Lopatka. “We have seen a 100 percent increase in our property
value over 23 years. We were way better off investing.”
Orlando Business Journal - June 15, 2007 Conroy office-condo prices
soar above $300 per SF
May. 29, 2007 www.azcentral.com "Instead of paying a landlord a
lease payment, they're paying themselves,"
SAN DIEGO Daily Transcript April 19, 2007 Office condominiums gain
foothold for small businesses ''Burgeoning demand for office
condominiums -- offices that small businesses can purchase instead
of renting -- reflects an evolving relationship between commercial
tenants and landlords. With the price of money historically low,
greater numbers of small businesses are choosing to purchase
offices as a means to build up equity, achieve new tax benefits..
The Office and Commercial Condo Conference March 26-27, 2007
(USA)
''almost 500 office and commercial condominium projects were
actively being marketed. ... ''
''To borrow a phrase from the manufacturing industry, the Quebec
City office...market is performing at full capacity....the hottest
commercial real estate market east of Alberta! / Pour emprunter une
phrase à
l'industrie manufacturière, le marché...de bureaux à Québec performe
presque à pleine capacité.'' Espace Quebec vol.12 No.1, 2006
Biggest Office Condo Project in the Country Reaches Completion
March 21, 2007 Commercial Property News(CPN)
Development of Ironwood Office Suites, a 430,000-square-foot office
condominium project in Scottsdale, Ariz., has reached completion. All
space at the multi-structure property, which was developed by
Scottsdale-based real estate firm Saxa, has already been spoken for
at the $80 million property.
July 21, 2006 Tampa Bay Business Journal
'Office condominiums continue to grow in popularity'
January 25, 2007ladowntownnews.com
"I think this commercial office condo segment will be hotter than a
firecracker,"
said Jack Kyser, senior vice president and chief economist of the Los
Angeles Economic Development Corporation
GlobeSt.com November 20, 2006
CB Richard Ellis office condo white paper...once you factor in
components such as tax savings and the value an owner builds as the
asset appreciates over time, the net cost of owning over a 10-year
period is lower than renting, on a after-tax basis...'
New Mexico Business Weekly - July 28, 2006
'...more business owners opting for mortgages over rent payments...a
growing office condominium market in the Albuquerque metropolitan
area... a product that... is not going to lose its appeal any time soon.'
GlobeSt.com SCOTTSDALE, AZ-
S.Bergsman ..'office condos are increasingly becoming the first
choice of space'
Jan. 2006American City Business Journals Next frontier for condo
development: ''Buying an office condo is a built-in savings plan for a
company..What is different is the company is building equity ...that
will appreciate in value.."
22 Jul 2006 The Cincinnati Enquirer
'Plans for a $70 million medical office and condominium complex have
neighbors asking: Why build another project when nearby commercial
properties are empty?'
6/27/2006 DenverPost.com
'Many hard-nosed small business owners who would never consider
renting, rather than owning their homes, seldom - if ever - consider
owning their own buildings. Why is that? Not only are they passing up
an opportunity to rent from a friendlier landlord - themselves - they
also miss out on an opportunity to own an equity-building asset and
substantial income stream that can come in handy when they sell
their business.'
26 Jun 2006 realestatepress.org
'According to a new research report the office and industrial condo
markets in Orlando are now growing rapidly'
June 5, 2006 Orlando Business Journal
'Firm principals believe the project will attract investors who want to
lease out space, as well as professionals who own their own
businesses. The condos offer a maintained building and parking, with
each space having its own entrance off the parking area, as well as
turnkey interior space'
''Commercial condominiums accounted for all of Silicon Valley's new
office construction in 2005 -- 348,000 square feet, according to
brokerage NAI BT Commercial. Condo units, typically 750 to 3,500
square feet, allow small-business owners to buy their own space
rather than lease...'' Feb. 28, 2006 Mercury News.
San Antonio Business Journal - April 7, 2006 'A new local
development firm is bringing the next generation of office condos to
San Antonio. ...two, three-story buildings ... a departure from most of
the office-condominium developments in San Antonio. Most of the
office-condo properties that exist, to date, are single-story, ...built to
Class-A office building standards, including on-site security and high-
end finishes in the common areas, ...christened the Shavano Oaks
Office Park, will be located on four acres of land at Loop 1604 and
Paesano's Parkway'
Interest rates would have to break the 12% barrier before CDG would
reach rental cost equivalency .
Re-financing and investment in residential real estate will yield to
alternative individual real estate holdings such as office condos.
Le taux d’inoccupation des espaces à bureaux est à la baisse en 2005
pour la septième année consécutive à Québec. Il s’établit à 4,0 %
comparativement à un taux de 20,1 % en 1998. l s’agit du plus bas taux
d’inoccupation dans la région depuis 1989. Le taux d’inoccupation de
Québec se situe au plus bas niveau au Canada en 2005 devançant
Calgary (7,3 %),Winnipeg (8,3 %) et Edmonton (9,7 %). Au cours de la
dernière année, la plus forte baisse du taux d’inoccupation s’est
produite dans les immeubles de classe B et C (moyens /fonctionnels),
alors que le taux a légèrement augmenté dans les immeubles de
classe A (haut de gamme). Bureau de la Capitale Nationale(Oct. 2005)
Prolongement de l'axe routier du Vallon
Les travaux de la première phase visant à construire le tronçon
Lebourgneuf- Chauveau se déroulent efficacement et comme cela a
été prévu à l'échéancier annoncé, les travaux sur le deuxième tronçon
de 2 km entre l'avenue Chauveau et le boulevard Bastien débuteront
lundi prochain QUÉBEC, le 21 oct. CNW Telbec
Office development in metro Chicago is at a standstill except for ...
Office condo ...definitely a craze now in Chicago.. You ask buyers the
same question you'd ask a residential buyer: Why rent when you can
own?...loan packages to finance such purchases...parallels our
experience in making SBA loans...Commercial Property News
October 21, 2005
La Société immobilière Cagim investira 12,5 M$ dans la construction
de la Place d'affaires Lebourgneuf. La Banque Scotia...ouvrira sous
peu à Lebourgneuf Juillet 2005
Prolongement de l'axe routier du Vallon
-Début des travaux qui font enfin de ce projet une réalité. Le Ministère
investira 23 millions de dollars dans ce projet, tandis que la Ville
assumera le reste de la facture, soit 24 millions de dollars. Le premier
tronçon, s'étend sur 2,3 kilomètres entre le boulevard Lebourgneuf et
l'avenue Chauveau.
La réalisation du second, entre l'avenue Chauveau et le boulevard
Bastien, débutera l'automne prochain, ce qui nous mènera à
l'ouverture officielle du prolongement de l'axe routier du Vallon à
l'automne 2006.
''The overall office vacancy rate in the central business district is 14
percent to 17 percent, Shadowen said. In the suburbs, it's 9 percent to
14 percent. The big news is office condos, where business owners
buy space or floors within buildings.There's 1 million square feet of
office condos and 32 properties on the market or on the drawing
board...''Sunday, April 3, 2005 TIMES-DISPATCH
Richmond Virginia
''Low interest rates have fueled the housing boom of the last few
years, but now small-business owners are beginning to look to the
office market as the next big real estate venture.'' Oak Brook
Business Ledger march 2005
''…office condo…good place to park money for the long term''
Atlanta Business Journal / 2003
‘’Corporate Pointe Business Park ..in South Forsyth..unlike many
office condo projects built like homes and apartments with wood
frame buildings, the NorthPoint Group will use commercial office
building construction materials
and designs.‘’ North Fulton / Feb.2005
''..office condos have been a bright spot in an otherwise gloomy office
construction market, according to the National Association of
Industrial and Office Properties. Small businesses are attracted to the
product because it allows them to build equity and customize space..''
Finance and Commerce June 2004.
''What gives? In the worst office market in years, developers are
developing office condo space…a condo is a wealth building
vehicle…value of real estate has a floor under it, especially if you buy
in blue chip areas…the stock market has no floor'' Atlanta Business
Journal / 2003
''Office condominiums are making a come back…a buyer can get a
fifteen year note and have an asset at the end…they expected to take
two years to sell the units, but …was sold in nine months…we could
have sold twice as many…as land prices continue to rise and prime
locations are taken the office condo market
becomes…attractive…individuals can’t afford to buy a lot in a good
location…
offers ownership as well as an investment…people are finding out
that you can be an owner for about the same monthly expense as
being a tenant…'' Albuquerque Tribune July 2003
''Office condo developer plans suites, seeks more sites…executive
suite tenants typically share…amenities…'' Business Journal :
Jacksonville and North East Florida
''Pike Hall, who has developed three office-condo projects, has
planned two more…'' jacksonville.com June 2003
''…purchase of an office condo usually financed by small
loan…developers are taking popular residential concept into office
buildings…'' Washington Business Journal May 2003
''Office…condominium projects are now springing up across the
region…it is important to buy in a good location and build equity.''
South Florida Business Journal June 2003
''Brooke Chase Properties…to build office condos…for sale $165. to
$175. per square foot…leased for $16.50 per square foot'' Charlotte
Business Journal Jan. 2003
San Jose Office Centre : River City Homes and Development Inc.
''…office condo development, …allows people to buy single or multiple
units for office use or investment purposes…''
''condo craze… some developers… are relying on office condos to
navigate the through Orlando’s shaky office market…office condo
mortgages are running 20% or 30% less per month than…leases ''
Orlando Business Journal July /2003
''Developer signs first tenant for…office condos…seems like a no-
brainer…once people …understand how it works…will catch on
quickly…'' Birmingham Business Journal June 2003
''Office condos are hot…800,000 square feet of new space…niche
market expanding exponentially…''
Phoenix Business Journal March 2003
''Carr has built about a dozen office condo projects in High Point,
Winston-Salem, Greensboro and Salisbury…reason for the
surge…value of owning vs. Leasing…office condos are a good
investment…'' Triad Area Business Journal
'' first new condo building … in downtown Denver…on a before-tax
basis, buying space is comparable to leasing …but when
depreciation and the chance of appreciation are factored in…it makes
a lot of more sense to own…''
Rocky Mountain News Oct. 2003
'' Shea Commercial opens local office...developed more than one
million square feet of office condo...in Arizona, Nevada & Southern
California.''
Dallas Business Journal Nov. 2003
'' one of the hottest real estate investments these days…
-easier access to customers
-ability to sell property at any time compared to getting out of a lease
-lease part or all of the property to a tenant
-renovate at any time
-refinance
-asset on balance sheet.. borrow against it, if you need to...
-office condos can be likened to an automatic retirement account..''
Cincinnati Business Journal Oct. 2003
''Office condo developments heat up...numbers still work when
interest rates are as high as... 11%...interest rates are only a part of
the lure... tax advantages, control of property and the ability to create
stable real estate payments...Riggs was selling office condos... at
13%...cost savings on owning versus leasing on an after-tax basis
over the long term can range from 25% to 50%...'' National Real Estate
Investor Nov. 2003
''Nationwide, interest in office condominiums is up sharply.'' Highmark
Funds (Orlando Sentinel) Jan. 2004
''North Scottsdale office condo...is one of the first in the valley...
100,000 square ft. ...complex...owning is often cheaper than leasing,
offers tremendous tax advantages, is an investment vehicule that
appreciates in value, and enables complete customization of size,
location, and financing.'' Business Journal Phoenix March 2004
''owners are not dropping rental rates commensurate with interest
rates because they’re long-term owners and they anticipate interest
rates going up. But buyers can lock in the rates.'' Sunspot.net July
2003
Interest rates would have to break the 12% barrier
before CDG would reach rental cost equivalency .
''Le taux d'inoccupation des espaces à bureau est en train
de battre des records dans la region de Québec. Il atteint
maintenant la barre des 4%.'' Le Soleil (Québec) 2006
(Québec city office vacancy rates drop below 4%)
''Quebec City among the most affordable in the
world…''
Cushman&Wakefield, Royal Lepage (office rental rates)
centre d'affaires des galeries