27 May
2000
27 May
'00
7:47 a.m.
Just to keep it in proportion, here in the Denver area, "clean" heated and
lighted space, concrete on the floor, what you'd like to rent for garage
space, except the landlords won't allow "dirty" enterprises such as auto
repair, body shops, etc, rents for about $10 where, in '92 it rented for
$6. That's just below what it (in 92) cost to build. Of course, now it
costs $50 to build.
My modest little house valued around $140K would cost $1.1million in the
south Bay, and probably more in some special areas. I surely wouldn't rent
my house out for what it would have cost 20 years ago to rent one like it.
I suppose that makes me greedy, right?
Dick
----- Original Message -----
From: Fred Cisin (XenoSoft) <cisin(a)xenosoft.com>
To: <classiccmp(a)classiccmp.org>
Sent: Saturday, May 27, 2000 1:26 PM
Subject: Another moment of silence...
No, the reason
that rents in the south bay are skyrocketing is simple
supply and demand.
Not just the south bay.
The location of my office is adjacent to an area going through rampant
gentrification. When I moved my office to its current location 12 years
ago, 50 cents a square foot was going rate for warehouse space, usable as
office. Now such spaces are being sheetrocked and carpeted, and going for
$5 to $10 per square foot.
My landlords are a partnership. One of them is trying to retire. The
other just started a new venture that immediately failed. So, since the
building is worth ten times what they once paid for it, they're selling.
99% probability that the new owners will clear the building, remodel, and
raise the rents to 10 times their current level. And the zoning is such
that they could add a second level.
I've been losing money for a long time. I would keep going, anyway. But
there's just no way that I can rationalize moving AND continuing.
Therefore, after 22 years (12 in current location), XenoSoft is closing.
No idea how long before the landlords find a buyer; then I'll have 30
days.
"Greed"? "Capitalism"? It doesn't matter any more. Should I hate
my
landlords for it? I don't think so, and it's not worth it. I'm too busy
discarding all the stuff that represents that part of my life.
--
Grumpy Ol' Fred cisin(a)xenosoft.com