Thursday, March 25, 2010

Gastonia Listings of Office-Flexspace-Land

It has been some time since I did a "Listing" post on the blog. So here goes:

Flex Space on Posterity Court - 1,500 SF Unit, (2) 1,750 SF Units, (1) 3,000 SF Unit and (2) 3,500 SF Units.

Retail Space Franklin Square - 831 South Church St. - Church St. @ I-85 - 1236 SF Unit, 1,600 SF Unit and 2,400 SF Unit.

Multiple Lots at Exit 22 I-85 - Interchange for Franklin Square and Southeast Gastonia Charlotte Commuters. High Traffic Count.

For Construction Services

For Development Services

Wednesday, March 17, 2010

No Increase In Supply of Commercial Space

I was asked why I thought the supply of new commercial space was not going to increase. The short answer is that no funds/loans are available for new projects. Where are those funds? The answer is below.

In February 2010 alone the Federal Deficit was $221 billion, the greatest in history.In the 1980's we had Deficit problems but this February alone equaled all of 1986's Deficit. The 1970's also had Deficit problems but again last month was triple the Deficit of all six years of Nixon. In fact February 2010's Deficit, for 28 days, is equal to the Deficit of 1776 to 1945, a period of 169 years and seven major wars.

In just one week last month the Fed borrowed new money and replaced old debt at the rate of $390,212 per second or $23.4 million per minute or 1.4 Billion per hour around the clock.

This means Federal, State and Local Governments are on an annual pace to raise $1,040.4 billion. Business is cutting their debt $1,097.5 billion and Consumers are cutting $510.4 billion.

Decling Business and Consumer borrowing signals economic weakness and this is worse because it is a decline to zero on a net basis. There is pressure on Business and Consumers to pay down debt and that credit is being removed by Government. This means credit is being denied or even taken away from those who could fuel a recovery.

What is currently available in the Commercial market is all there is going to be for sometime and almost any level of demand is going shrink the market and effect lease rates.