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Highland Park Office Space

August 2nd, 2011

Overview

Located in the North Shore region above Chicago, the suburb of Highland Park offers so many great opportunities to both residents and commercial entities as well. With an area of a little over 12 square miles, this village offers a small town feel with all the great amenities of a big city. Leasing office space in here is an excellent choice for many business owners as it provides them with convenient access to a large number of consumers, allows their employees to have access to public transportation and offers the business owners an opportunity to lease one of many offices in the area.

Business Atmosphere

No matter where you lease office space in Highland Park you are sure to have a great location. US-41 runs through the city and offers easy on/off access for business owners, employees and residents. In addition to easy driving access, the village also has four Metra stations within the city limits. The Pace bus line also runs through town, offering employees and customers easy ways to reach your business. For out-of-state visitors who wish to reach companies in town, the two international airports, O’Hare and Midway, are close by.

About the Residents

With 33,492 residents calculated in September of 2009, one can see that the village is a popular locale for residents. It was estimated in 2007 that the median household income was $113,350. Almost 70% of the households contained married couples and approximately 36% of the households had children within the home.

Other Businesses in Highland Park

As an established city, many businesses set up within the community. Home improvement companies, financial institutions, attorneys, doctors, stock brokers, artists, retail stores, restaurants and more line the streets of the village. The variety of businesses leasing office space within the city ensures that you will feel at home no matter what type of business you are in.

Things to Do

Families and singles alike will find a wealth of entertainment possibilities. Both groups will enjoy the annual Ravinia Festival offering plentiful entertainment as well as park district options throughout the year such as hiking, biking and enjoying nature. There are quite a few nightlife options for singles and couples looking for fun in the evening in the downtown area such as nightspots for drinks, music and fine dining establishments. Highland Park is a well-rounded locale which provides things to do for all who live and work in the city.

Dining and Shopping Options in Highland Park

In the downtown area of Highland Park you will have access to over 125 retail shops for all of your shopping pleasures. From clothing boutiques to electronics stores and more, the Highland Park downtown area is the place to go. » Read more: Highland Park Office Space

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The Industrial Property Development Market – From Bust to Boom

August 1st, 2011

Historically the property development market in South Africa has been vibrant. But when the current world economic slump began to take hold back in September 2008, it drained the confidence out of many investors and the market nose-dived along with the general economic situation. But with the signs of economic recovery beginning to take hold again, what prospects are there for a resurgence in the industrial property market?

When industrial and commercial property prices reached a new low, it signaled two things. Firstly that the market was severely depressed and was likely to stay that way for several years, but also that the bottom of the trough had been reached and that the only way out, was up. With the market having stabilized at its new low, it meant that the glut of distressed properties that had been pouring in had stopped, and with the laws of supply and demand in operation, with the excess of supply far outstripping demand, prices remained depressed.

However, the last 12 months has seen the signs of recovery taking place in the commercial sector, and with property prices still artificially low, this has begun to stimulate demand, as property development speculators are one again sensing the opportunity of making good short to medium term returns on new investments.

Office properties in particular are a good example of the current optimistic outlook. With economic forecasts being positive, albeit slow-moving, and prices being as low as they are, now is a good time to buy. As confidence returns to the economy, the potential for new letting agreements is rising and properties are once again beginning to move, bringing about a slow but steady rise in prices and rates. It is forecast that this trend will continue slowly but surely, depleting the supply surplus which will eventually trigger a new bout of property development taking place.

Current thinking is that this may well lead to an industrial property boom in 2014/15. Of course with such a long gestation period for new developments to come to final fruition, the process needs to be kicked off now. Feasibility studies, surveys, finance – all of these things must be in place before actual construction can begin to take place.

From a national point of view, the South African government already has its policy in place and several IDZs, (industrial development zones), are already planned and underway. The private industrial property development market is also getting its house in order, and many new private developments are in construction with many more at the planning stage. » Read more: The Industrial Property Development Market – From Bust to Boom

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