Would You Share Your Insights On The Bay Area Flex/Light Industrial Market? (we're a prospective tenant now in the market)
\- We're a niche manufacture/eCommerce tenant looking to expand.

\- We're looking for 3k to 4ksqft of flex/light industrial in the Bay Area

We just toured our first suite and wanted to negotiate the terms. The suite is being offered above market on a per month basis with a minimum 3-year term.

The broker got back to us and said they were unwilling to negotiate the terms.

The unit has been vacant for the last 8 months.

Is this market that hot? Any insight?
[{"id": "fs4ul80", "text": "Ya. The owner probably has enough money to sit on it until he gets the deal he wants.", "replies": [{"id": "fs4vr19", "text": "Property has already seen 1 price reduction but is still vacant. Thoughts?", "replies": [{"id": "fs4vvi7", "text": "Ok. So owner reduced the price and it\u2019s still above market? \n\nWhat term were you looking for?", "replies": [{"id": "fs4wcpc", "text": "Yes.\n\nWe'd pay the asking rent on a 1-year lease with 2 and 3-year options or a lower rent/CAM on the 3-year lease.", "replies": [{"id": "fs4wntt", "text": "I would shoot your shot on the three year lease. Most owners don\u2019t want to mess with a 1 year lease.", "replies": [], "depth": 5}, {"id": "fs50wkn", "text": "Flex/Light industrial leases in the Bay Area are 5-10 years, with built in extension options.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fs4uliy", "text": "What part of the terms did you not like? Just too much money? Do you have a broker working/assisting you?", "replies": [{"id": "fs4v1ma", "text": "The property has already seen a price reduction and is still vacant.\n\nJust pulling up LoopNet you can see that the price per sqft is above the comparables.", "replies": [{"id": "fs4v9dw", "text": "Is the location better? \n\nNot arguing that the price can't come down, but if your prepared to sign a lease at XYZ pricing, then counter it.", "replies": [{"id": "fs4w7n6", "text": "That is part of the debate. It's an odd space - 1 of 2 units attached to a very large 5 story office complex. \n\nIt's technically not zoned industrial. I don't even know how they got the permits to build these spaces to begin with (15 years ago).", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fs5521n", "text": "Bay Area prices will continue to go up. You may be able to get a month of free rent but you won\u2019t be able to get a short-term lease with options that include lower rent and CAMs.", "replies": [], "depth": 1}]