Should You Buy or Lease Office Space?

Should You Buy or Lease Office Space?

By: Kenneth King

Vacancy rates in the Washington, DC, area may make purchasing a building a legitimate option for nonprofits. Here are some of the issues, and questions to consider.

Vacancy rates are currently approaching 12 percent in Washington, DC, and are up to 20 percent in the suburbs. Those rates, coupled with industrial revenue bond (IRB) financing being available to 501(c)(3) associations at all-time lows of 2 to 3 percent, create an excellent opportunity for those organizations that are interested in purchasing their space. (It's an attractive market for all nonprofits, though IRB financing is available solely to 501(c)(3) organizations.)...