Commercial property is essentially vastly overpriced here in Oz. It has rocketed in values out of all proportion to other costs and business outgoings.
Rents are based on commercial property values, so the higher the values go, the higher the rents go.
A friend from here is establishing production in USA of his products. Just purchased 10 acres 8 miles out of Dallas area for US$230,000 plus a holiday from the local council for 5 years on rates/taxes etc plus they'll build his driveway off the highway..
and the USA thinks it's expensive...