In the current state of the US economy, many business owners are finding it difficult to keep profits up. However, commercial real estate building owners usually do not see decreasing numbers in the early stages of a recession. Due to the fact that their tenants have signed primarily long-term leases, office building owners are not seeing a financial decrease until the leases expire. Some leases are long enough and landlords are working with them to through the recession. In these cases, some landlords have resorted to tenant incentives to keep their occupation numbers up. In the Boulder, Colorado commercial real estate industry, tenants have remained content and satisfied with their commercial buildings. At Bittner Commercial Advisors, we have maintained a strong and supportive relationship with all of our tenants and continued to be available and helpful to our loyal clients, despite the country's weaker economy.
Some of United State's top office-building owners are struggling to keep their buildings full. For example, Boston Properties Inc. who currently owns the GM building in Manhattan is allowing their current tenants to pay 17% less than previous ones. One of New York's primary office landlords is SL Green Realty Corp. whose funds have, respectfully, decreased by 28%. Liberty Property Trust, Malvern, Pennsylvania's office building owners have seen a 10% decrease in their funds during the recession as well. Commercial real estate owners have even resorted to free months rent and construction allowances for their tenants' businesses. These are somewhat difficult times for many of us financially. However, through the recession, Boulder, Colorado commercial real estate companies have remained consistent with their tenants. Bittner Commercial Advisors has continued to maintain constant communication and a respectful relationship with our tenants. It is these relationships that have allowed our company to thrive and improve the market as a whole.