To buy or to rent?
An interesting thought popped up when I was reading an article in the Jacksonville Financial News & Daily Record about the Greenleaf Building at the corner of Laura and Adams streets. It was a quote which jumped out at me which read :
Barakat said he will market the building and its floors on a mostly local basis. “Office condominiums are targeted at local businesses,” he said. “A national company is not going to buy a condominium.”
He went on to outline his sales strategy which was that asking a national company to buy a office condo was a waste of time because a national company wants to have the ability and the flexibility to move around and relocate if necessary. But a local company with roots would be most likely to buy than to rent, probably because the employees of the business have local roots and they are not likely to move very far with their business. I was interested to read that you could save as much as $400,000 over a ten year period if you chose to buy instead of rent.
