If your company is thinking of relocating, it’d be a good idea to check out these cities.
BOMA’s (Building Owners and Management Association) 2012 Experience Exchange Report reveals the most and least expensive real estate markets in the U.S.
No big surprise that New York City, San Francisco, Boston and Washington, DC, finished in the top 5 for highest facility operating expenses and most expensive commercial property rentals.
So where are the bargains? The five least expensive markets for total operating expenses measured per square foot (psf) are:
- Jackson, MS ($4.71 psf)
- Fresno, CA ($4.78)
- Salt Lake City, UT ($5.01)
- Virginia Beach, VA ($5.11), and
- Shreveport, LA ($6.17).
And the five least expensive markets for total rental income:
- Shreveport, LA ($11.76 psf)
- Dayton, OH ($11.79)
- Harrisburg, PA ($13.41)
- St. Louis ($15.35), and
- Nashville, TN ($15.54).