Benefits of Ownership

ECONOMIC ADVANTAGES

Significant Savings

  • Office condo ownership costs historically less than the annual cost of leasing
  • Current market lease rates far exceed the annual office condominium carrying costs

    • Real Estate Tax Exemption

  • Certain non-profit and governmental organizations are exempt from real estate taxes when they own & occupy space
  • Tenants leasing office space are required to pay real estate taxes regardless of their status.

    • Stabilized Occupancy Costs

  • Occupancy costs remain reasonably consistent and predictable, allowing for precise operating & budget projections
  • Tenants subject to leasing market fluctuations and landlord property objectives

    • OPERATIONAL ADVANTAGES

    Control Your Space

    • Office condo owners control all aspects of design and function for their occupancy
    • Investment made in construction and improvement are retained long-term and not forfeited by a tenant lease expiration
    • Secure a location in UN market with limited supply of current office space and zoning restrictions on new construction

    Increased Efficiency

    • Many office high-rise office buildings can be highly inefficient for large users, requiring awkward non-contiguous configurations
    • Office condos at 866 UNP offer sprawling 74,000-square foot floor plates that allow for a more efficient layout
    • Executives and employees situated on the same floor, promoting collaboration and streamlined communication.