Anaheim is found in California’s Orange County. The 2010 U.S. Census reported a 336,265 population in Anaheim, which means that it is Orange County’s most populous city, and the 10th most populous in the state. It is also Orange County’s second largest city after Irvine in terms of land area, and it is famous for its convention center, sports teams, and theme parks. Founded in 1857 by 50 German families, it was incorporated in 1876. Since then, the city has built on its extensive industry, as well as tourism. In 1955, the Disneyland Resort opened, shooting the city to global fame.
Anaheim Office Buildings for Sale & Lease – Should You Buy or Lease?
If you are interested in office space, whether it is an investment or for running a business, you have two broad options available to you: buying or leasing. There are pros and cons to both of these options.
Looking first at buying office space, the pros include:
- That your costs are fixed, which means you have clarity on your business expenses
- That you can get really good tax deductions, including property taxes and mortgage interest
- That you can rent some of your space out so that you can earn extra income
- That you can build up retirement savings, as the property is likely to appreciate over time
However, the cons are substantial as well and include:
- Not having much flexibility, which means that if your business contracts or grows, you may have to sell the property sooner than expected.
- Having high upfront costs, not in the least a 30% down payment on the mortgage. You will also have maintenance, appraisal, and other property costs to pay.
Your other option is to lease office space, which has a number of clear benefits, including the fact that:
- You can get a prime property, which is important if your public image matters
- You can free up working capital because you don’t have to pay for a deposit
- You can focus on actually running your business, rather than spend some time dealing with the stresses of property ownership
However, there are some downsides as well, including the fact that:
- Your costs will be variable, with regular rent increases
- You do not build up any equity in the property, since you don’t own it
To help choose between the two options, being aware of the trends and statistics in terms of prices, supply, and demand, can be very beneficial.
Anaheim Office Space for Sale – Trends and Statistics
- The average office property asking price, sales trends, in dollars per square foot for the county was $311.66, which is a three month decrease of 0.2%, but year-on-year increase of 11.3%. This is lower than the metro area ($317.28), but higher than the state ($226.32).
- The index of total available office spaces for sale in the metro area that includes Anaheim is 34, which is a 6% increase over the past three months, but a 3.7% decrease year-on-year.
- The index of total number of listings of office properties for sale in the metro area that includes Anaheim is 35, which is a 5.5% increase over the past three months, but an 8.4% decrease year-on-year.
- The profile view index for office properties for sale in the metro area that includes Anaheim is 138, which is a 19% increase over the past three months, and a 14.5% increase year-on-year.
- The index of total square feet of available office properties for sale in the metro area that includes Anaheim is 36, which is a 1.8% increase over the past three months, but a 19.5% decrease year-on-year.
Anaheim Office Space for Lease – Trends and Statistics
- The average asking rent for office space for lease in Anaheim expressed in dollars per square foot per year is $20.55, which is a 2.4% increase over the past three months, but a 3.3% decrease year-on-year. This is lower than the county ($24.3), metro ($25.41), and state ($23.08).
- The index of total number of office spaces for lease in the metro area that includes Anaheim is 61, which is a 1% increase over the past three months, and a 3.1% increase year-on-year.
- The profile view index for office spaces for lease in the metro area that includes Anaheim is 115, which is a 49.7% decrease over the past three months, and a 28.4% decrease year-on-year.
- The index of total square feet available for office spaces for lease in the metro area that includes Anaheim is 58, which is a 3.7% decrease over the past three months, and a 12.4% decrease year-on-year.
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