Laguna Niguel is one of the most suburban towns in Orange County, California, with a population of 62,979 in 2010. The city is in the southeast of the county and was one of the very first master-planned communities. The goal was to create a bedroom community. Today, it is a very affluent community and the median household income is 31% above the average of the county, which means it is almost 50% higher than the national average. It is a particularly beautiful city with many public trails and numerous parks. It is also one of the safest cities in the county.
Laguna Niguel residents formed the Community Services District in 1986, which is first step necessary for them to take on local governance. On November 7, 1989, three years after the formation of the district, 89% of the members voted to incorporate Laguna Niguel. On December 1, 1989, it became the 29th city in the county.
Laguna Niguel Office Buildings for Sale & Lease – Should You Buy or Lease?
If you are interested in office space in Laguna Niguel, be that as an investment or to run a business out of, you have two choices: buying or leasing. There are pros and cons to both of these options, so let’s take a look.
The pros of buying office space include the fact that:
- Your monthly costs are constant because the amortization will not change.
- You can claim some tax deductions, including property taxes and mortgage interests.
- You can rent out some of the office space out for an additional income stream.
- The value of the property increases over time.
The cons of buying office space include the fact that:
- If your business grows or contracts much faster than you had anticipated, you will need to sell the property first before you can relocate.
- You have 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.
If you lease office space, the advantages include the fact that:
- It is possible to lease prime office space, which will help to boost your reputation.
- You can free up working capital because you don’t have to pay for a down payment.
- You can concentrate on running your business. You don’t have to worry about any problems that come with property ownership.
The downsides of leasing office space include the fact that:
- Your costs will tend to go up as the rent increases.
- You do not build up any equity in the property, since you don’t own it.
To help decide between the two choices, being aware of the trends and statistics in terms of prices, supply, and demand, can be helpful.
Laguna Niguel Office Space for Sale – Trends and Statistics
- The average office property asking price, sale trends, in dollars per square foot for the county was $311.66, 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 dollars available for office spaces for sale in the metro area that includes Laguna Niguel 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 Laguna Niguel 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 Laguna Niguel 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 Laguna Niguel is 36, which is a 1.8% increase over the past three months, but a 19.5% decrease year-on-year.
Laguna Niguel Office Space for Lease – Trends and Statistics
- The average asking rent for office space for lease in Laguna Niguel expressed in dollars per square foot per year is $24.33, which is a 1.9% increase over the past three months, and a 5% increase year-on-year. This is lower than the metro ($25.41) area, but higher than the state ($23.08) area.
- The index of total number of office spaces for lease in the metro area that includes Laguna Niguel 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 Laguna Niguel 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 Laguna Niguel is 58, which is a 3.7% decrease over the past three months, and a 12.4% decrease year-on-year.