Commercial real estate is all about businessEditorial Thursday, January 19th, 2012
In the real estate world, “commercial real estate” refers to office buildings, retail space, apartments and basically any property other than single family residential that is designated for some kind of a business. There are also mixed use properties that are considered commercial which are a mix of both commercial and residential.
Like all real estate, commercial property has been affected in the last four years with the downturn in the economy. As a result, prices to purchase and to lease commercial property are significantly down, which has opened up a window of opportunity for those looking to open their own business.
We have all heard that we should do something that we love for our careers. When I was young I was told this over and over again, and although it made sense, it still did not mean a lot to me because I was more focused on the money aspect of a job and not the gratification that a job could bring.
Well let us look at this concept of pursuing a career that you love and take it a step further. What about opening your own business and being your own boss, doing something that you love? This may sound a little farfetched at first, but it can be achieved.
After being in human resources management for 14 years, I decided to change careers at age 38. Like many people I was not really happy at my job and wanted to do something else. But I was afraid of making a change in career. There were many factors that kept stopping me from changing careers and I was having an internal struggle with myself. Intellectually I knew that I should keep my job as a human resources director, for which I had worked hard to obtain. But my heart continued to nag at me telling me to make a change. To make a long story short, I eventually quit my job and went in to real estate. I had always loved everything about property, from landscaping to architecture and from remodeling to design. I loved it all and I felt that a new career in real estate would be very enjoyable and gratifying to me. Well I got my real estate license and the rest is history. I have been selling real estate for well over a decade and have really enjoyed it. I am my own boss and real estate continues to be an exciting and gratifying career for me.
So if I can do it, so can you. If of course you are happy at your current place of employment, you should stay there. However, if you are not, you should at least consider a change to a career that you think you will enjoy. You do not have to do it right away, you can take the necessary time to first decide on what you want to do and then plan for it. One of the best things in your favor at the present time is that commercial real estate is affordable. Whether you would consider a lease or a purchase, prices for both are significantly down from five years ago. So now is a fantastic time to negotiate a great lease or purchase a commercial property in all price ranges.
One great example of a commercial property that is currently for lease is a newly remodeled 1,800 square feet North Park office building that just came on the market for $2,195 per month, which is only about $1.25 per square foot. This property has parking and is in the excellent location of North Park Village. It is a great value and a wonderful opportunity for someone wanting to open their own business or to expand a current one. Also, sales for commercial real estate have been averaging about $256 per square foot in the last year in the metropolitan area.
So think about the things in life that you enjoy doing and then translate them into possible job options. Then make a plan to pursue your new career that you will love. Whether you are aware of it or not, you have the control to create your own reality. If you follow your heart, your life can be the magical experience it was meant to be!
Trent St. Louis is a licensed Real Estate Agent
and a member of the National, California and
San Diego Association of Realtors. You can reach Trent at SpecialAgentTrent@gmail.com or at his office in Hillcrest, The Metropolitan Group. DRE#01273643.
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