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Ben Tashakorian, San Diego's expert on commercial real estate, gives an update on the cost to build office space from the ground up in today's market.
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The State of Office Buildings:

Existing Buildings Preferred to New Construction

March 10, 2016

Ben Tashakorian, First Vice President of Investments at Marcus & Millichap, was featured in last week's San Diego Union Tribune. In an article written by Roger Showley, Tashakorian offered valuable insight on the state of San Diego's commercial real market, noting that existing office buildings offer more value per square foot to investors than new office construction.

Read below:

Office bows to housing in land deals

Existing buildings preferred to new construction, Marcus & Millichap says

If residential towers, not office buildings, seem to be going up everywhere, Ben Tashakorian has an explanation.
The head of Marcus & Millichap brokerage’s local investment property advisers group said downtown land, for example, goes for $150 per square foot for office land but three times that for apartments or condos. read more>>>

About Ben Tashakorian:

Ben Tashakorian, FVP and Senior Director of Institutional Property Advisors (IPA,) an exclusive division of Marcus & Millichap Real Estate Investment Services. Ben has personally evaluated more than three billion dollars in assets.  With over 180 career closings, he has surpassed $600 million in sales and over 4.7 million square feet of commercial space in 19 different states. Ben currently leads the Office Industrial Advisory Group, a team of investment associates, covering the local and national  office and industrial markets. 
Copyright © 2016 Marcus & Millichap, All rights reserved.

Ben Tashakorian
License: CA 01333884

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