WHO IS BUYING CONDOMINIUMS?

The typical buyer of an office condominium project is either a small to mid-sized service/sales company or a medical/dental professional that has been in business for at least two years. Most buyers were leasing space prior to the purchase of an office condominium. These buyers sometimes buy slightly more space than necessary to allow for future growth, and lease out this excess space in the interim. Investors also purchase office buildings because they prefer new construction in a superior location. Often, these investors exchange into our buildings via a “1031” exchange, which can offer them additional financial benefits.