Buying will be cheaper than renting for county
Butler County officials say the rate per square foot they’ll pay over the next 20 years to buy space in the yet-to-be-built Standard Center is a bargain compared to what they’d pay if they tried to rent the space.
The numbers back them up.
The county is to pay $7.65 per square foot annually over the next 20 years for two floors of space in the Standard Center, a three-story structure planned by county Chief Clerk William O’Donnell.
Nearby in the Pullman Center business park, the state welfare office pays $13.80 per square foot in a building constructed in 1999, according to an appraisal by David King of Nicklas King McConahy, of Cranberry.
Rental rates in the business park range from $11 to $15 per square foot, King said.
Space is cheaper in Pullman Commons, but not as polished, said Diane Sheets, deputy director of the Community Development Corporation of Butler County, a nonprofit agency.
About 10,000 square feet in the Commons, built by the Regional Industrial Development Corporation, is available at lease rates of $7 to $10 per square foot, Sheets said.
Rates for 48,000 square feet of space in two other corporation buildings are $11 to $15 per square foot, Sheets said.