Entrepreneurs looking to secure a building for their startup or expand existing operations may have more luck next year, according Jones Lang LaSalle's 2012 National Commercial Real Estate Outlook report.
Total investments in new property are expected to grow between 15 and 20 percent to $190 billion in 2012 as entrepreneurs take advantage of the struggling real estate market. Bustling business communities, such as Texas, Denver and Northern California, are expected to be the easiest markets to purchase new property.
"Most other market segments will likely remain at or near the bottom of the market cycle in a stagnant position for the majority of 2012, handing tenants in most market niches prolonged leverage with respect to options, pricing and concessions," says John Sikaitis, director of office research for Jones Lang LaSalle.
Obtaining financing for the project on favorable terms often will make the difference between success and failure.