Choyce Peterson

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Town of Fairfield strong commercial real estate market performance through pandemic

January 20, 2021

If one were looking only at the key commercial real estate metrics in Fairfield, one would not see anything unusual, like the effects of a global pandemic, taking place. Vacancy (5.1%) is at a 5 year high, but still well below the average rate of 6.6% which prevailed for the four years ending in the middle of 2014. Meanwhile, Westport’s vacancy rate is the highest it’s been in almost 15 years.

Interested in selling or leasing your commercial building?

January 8, 2021

Important changes and improvements can raise the value of your building/space. The residential market tends to stress the below points in selling homes but many of their positioning/staging ideas are often overlooked by commercial owners/landlords. Below are suggestions to make sure that the building/space you are selling/leasing is going to present in the best way to a potential buyer/tenant.

Fairfield Making Progress on Affordable Housing Front

Will the development of “affordable housing” boost the local economy by bringing more employees and consumers to the local market? Will it increase traffic or overburden infrastructure in other ways?

Self-Knowledge Provides Leverage

December 23, 2020

Does your landlord view you as a gnat or 800-pound gorilla? Knowing the answer to that question can greatly affect your ability to negotiate terms in your new or renewed commercial lease. Of course, a gnat to one landlord may be a gorilla to another

Don’t Surrender Before You Move In

December 18, 2020

It may be somewhat of a cliché, but you need to consider the end before the beginning. Before you sign on to a new commercial lease, you should establish a viable exit strategy. Office space undergoes significant wear and tear, especially for long-term leases.

Lengthening the Term of a Sublease

December 11, 2020

Tenants looking for office space will occasionally consider a sublease rather than a direct deal with the landlord. Subleases can be very favorable for tenants, as they often include furniture, and even phone systems, free rent and rental rates lower than a standard lease.

Market Trends

December 9, 2020

With late October seeing record numbers of daily new cases of COVID-19, it is probably too early to tell how the pandemic will play out and what its impact will be on local economies.

Security Deposits

December 4, 2020

Landlords require security deposits to protect themselves from losing upfront costs and renovation expenses in the event of default by a tenant.

Holding on to Wealth with 1031 Exchanges

December 1, 2020

Many owners cringe at the thought of the taxes they will have to pay when selling their property. Fortunately, if you are reinvesting in real estate, you often can delay payment of (and sometimes avoid) those taxes.

Buyout Your Current Office Lease

November 23, 2020

Tenants who consider buying out of their existing office lease usually do so for three main reasons:

Westport Determining Path for Multi-Family and Affordable Housing

November 18, 2020

Events of the last two years are allowing Westport to make decisions about its housing stock independent of existing state and municipal regulations. In March 2019, the state awarded Westport a four-year moratorium on 8-30g applications.

Lower Fairfield County Office Market Overview Video Series: #5

November 18, 2020

In the final video of our five video series you will be able to see a full market overview along with all of the towns featured. It is a good opportunity to compare and contrast various options in different towns

Lower Fairfield County Office Market Overview Video Series: #4 Norwalk

November 18, 2020

The fourth of five videos, this one focusing on Norwalk. If you’ve seen the recent Westport, Stamford or Greenwich market video please scroll to 1:53 of this video for the Norwalk portion

The Advantages of Free Rent

November 17, 2020

Most tenants understand the impact of office rent on the bottom line and try to reduce it, most often by negotiation. However, they frequently neglect free rent, a common concession in the current real estate market.

Lower Fairfield County Office Market Overview Video Series: #3 Greenwich

November 5, 2020

The third of five videos, this one focusing on Greenwich. If you’ve seen the recent Westport and/or Stamford market video please scroll to 1:53 of this video for the Greenwich portion.

Lower Fairfield County Office Market Overview Video Series: #2 Stamford

November 2, 2020

The second of five videos, this one focusing on Stamford. If you’ve seen the recent Westport market video please scroll to 1:53 of this video for the Stamford portion. For more information on Choyce Peterson and what we offer you as a tenant click here: https://lnkd.in/e4uUXqa

Lower Fairfield County Office Market Overview Video Series: #1 Westport

October 26, 2020

The first of five videos, the first focusing on Westport.