Commercial Properties:

The area has been a center of development in terms of both residential and commercial property. The main reason for the re-development and large amount construction is due in large part to the Katrina disaster that ravaged the area. With many volunteers and so much more, the area has seen a wealth of office space construction and warehouse spaces to help entrepreneurs of all backgrounds to take advantage of low cost development options to help grow the economy after the disasters that were in the area. A recent survey of commercial property vacancies in the greater New Orleans area, yielded many results starting at around $250 - $600 a month for medium sized offices with free internet and other amenities. The area also has a large amount of warehouse and retail options that cost around $1 a square foot and lower, which is relatively similar in a lot of areas. Renting a commercial property in New Orleans is of great importance for any new business who needs to build a physical presence - even established companies with 25 or 50 employees can benefit from having an additional office space. We also service executive suites and office rentals in Atlanta, Miami, Charlotte, and Little rock.

The largest city in the state of Louisiana and one of the biggest culture centers in the south is New Orleans. Originally a French colony, the state has a deep culture and history that is evident in the cuisine, music, and language history. The estimated population of the city center is 336,644 and the greater metropolitan population is estimated at around 1.1 million residents. The city is located near the Mississippi river ad is also near the Gulf of Mexico. To learn more about leasing a commercial property in New Orleans or any other major US city, please check out our commercial real estate articles.

New Orleans Economy:

The economy of the city hinges greatly on transportation and more. The city has one of the largest and busiest ports in the world and is a great center of maritime industry. The city also has a great deal of petroleum and chemical manufacturing, alongside other standard industries attributed to larger metropolitan areas. Some of the larger companies that call the region home include, AT&T, Textron Marine & Land Systems, Rolls Royce, Whitney National Bank, Popeyes Chicken & Biscuit, and Harrah’s Entertainment, just to name a few. The area offers a great wealth of vocations, educational opportunities, and a little regional flavor for all walks of life to explore. Despite a great depth of options to explore in terms of employment, the area has recently had an unemployment rate of around 10%, which is higher than the national average. As the national picture begins to stabilize, the area will most likely fall in line with other cities and the rate will drop.
The climate of New Orleans is classified as humid subtropical with short winters yielding moderate temperatures. However, the summers have a great wealth of humidity and heat. The area also gets hurricanes and has been devastated in the past with tropical storms of various strengths. The area occasionally gets snow and is usually only 1 – 2 inches.

New Orleans Housing:

The real estate market took a major hit during the recession of recent years, but has bounced back slightly as the greater economical picture is much better. The median home price in the greater New Orleans area has been at around $178000 for quite some time and economists have given the area a 2% growth potential for the months ahead.
The mayor of the city of New Orleans is Mitch Landrieu and is the 61st mayor of the city. He is a democrat, and has worked in the political arena for quite sometime. He was a state legislator, community organizer, and has a deep tradition of conservative education, despite being relatively left wing in his political leanings.