You can't stop us TOTALLY!
Updated: Jun 23, 2020
So what is happening out there? Anecdotally I can tell you that we had a few successful closings in the teeth of this thing. We recently closed this nice Retail/Industrial property in Longwood: https://www.crexi.com/comps/C49064801. So things are happening
A lot of the publicly available info from the public companies are printed quarterly and is by nature fairly rosy, but when taken in aggregate they can give us some direction.
Collier's Q1 Office Report: https://bit.ly/collierofficeq1
Collier's Q1 Retail Report: https://bit.ly/collierq1retail
JLL Q1 Office Report: https://bit.ly/JLLQ1Office
JLL Q1 Industrial: https://bit.ly/jllq1ind
As you all know I am a bigger fan of Dr. Glenn Mueller's Market Cycle reports.. But with everything moving so quickly even his take is quickly outdated. We can probably assume a slide to the next point or two as of June 7 from where he currently is:
The long and the short of it is that we are not 'stopped'. We are simply moving along the market life cycle at a more accelerated rate. I actually love when there are some headwinds, as it typically is the only thing that slows ever increasing lease rates and allows more entrants into the market. As most of you know, landlords rarely, if ever, voluntarily lower the rent rates in anticipation of recessions or softening. This staying one step ahead of market pricing helps dramatically reduce vacancy rates, we just have to watch and see that activity is happening, just at lower rates.
Here is some food for thought, given the social distancing requirements that may or may not be required, what if demand for commercial space actually INCREASED since in order to service the same number of people you now need more space. Wouldn't that be interesting!
If you would like to discuss how this affects your situation or if there is anything at all we can do for you, please feel free to book a call directly here: https://bit.ly/tercall or just give us a call at 407-476-7935. We would love to help.
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