Office Rents Skyrocket Across the Nation; Sharpest Increases in 7 Years Begin Affecting Small Business Owners

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Christopher G. Hurn, President/CEO of Mercantile Commercial Capital, LLC, which ranks as one of the nation's leading providers of commercial loans for small business owners who want to acquire or develop their own facilities, reported recent findings from the real-estate research firm, Reis Inc.

The commercial lease market had been soft, if not depressed, in most markets dating back to the dot-com bubble burst and 9/11 terrorist attacks

Christopher G. Hurn, President/CEO of Mercantile Commercial Capital, LLC, which ranks as one of the nation's leading providers of commercial loans for small business owners who want to acquire or develop their own facilities, reported recent findings from the real-estate research firm, Reis Inc.

"Effective rents on office properties leapt an average of 3.1% during this year's second quarter, up from increases of 2.8% in the first quarter and 2.1% in the year-earlier period," Hurn said, citing the Reis Inc. report.

The Wall Street Journal also recently reported these increases as the sharpest quarterly rise since the third quarter of 2000.

"The commercial lease market had been soft, if not depressed, in most markets dating back to the dot-com bubble burst and 9/11 terrorist attacks," Hurn commented. "I think it's now time more small business owners realize the only way to contain their real estate expenses is to own rather than lease and begin controlling their destinies," said Hurn.

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