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Archive for the ‘Commercial Real Estate Industry’ Category

Three Take-Aways From ICSC’s RECON 2011

June 3rd, 2011

My feet are killing me as they usually are at this time every May. A small price to pay for three and a half days of intense deal making, trend spotting and making valuable connections at ICSC’s annual convention in Las Vegas. This year’s programs were upbeat with a vibrant optimism that has been lacking in recent years for obvious reasons. My focus was on the information, trends, technologies and deals that would be of greatest interest to commercial real estate brokerage professionals. Here are three takeaways I got from RECON 2011 that every commercial agent and broker should pay attention to:

  1. THE BUZZ IS BACK – This year’s convention was attended by more than 35,000 commercial real estate and retail professionals, up significantly from last year. There was a cautious optimism throughout the convention. Deals were getting done on the Leasing Mall and in the hallways, I could hear brokers, developers, landlords and tenants burning up their cell phones talking about transactions. Ah yes, transactions….those illusive little activities that we have all missed so much over the past couple of years. There was no doubt that everyone had a bit of a bounce in their step as well as a few more smiles and better moods all around. While everyone acknowledged challenges ahead, positive momentum was in the air and that will feed on itself creating more opportunities for commercial brokers to see deal flow.
  2. THERE IS A RISING SOCIAL REVOLUTION IN COMMERCIAL REAL ESTATE – If you think that Facebook and Twitter are just places where college kids tell their friends about last nights concert, you’d better think again. Social Media is the new branding mechanism for commercial real estate pros across all segments of the industry. (more…)

Why Now Is The Best Time To Buy Commercial Real Estate

March 17th, 2011

For the past year or so, there has been a tremendous build up of capital by hedge funds, opportunity funds and other vulture investors who looked into their crystal ball and saw blood in the streets for the commercial property markets. Today, most of that capital is either still on the sidelines, being returned to investors or revising investment criteria to lower investors yield expectations. Just as values for commercial property overheated from 2005 through 2007, buyer expectations for picking up “fire sale” bargains when the distress hit in 2008 were unrealistic. Of course, all tumultuous economic events create opportunities and this market is no different. The “smart money” is now re-entering the commercial real estate market and seeing buying opportunities based on historical fundamentals with a (relatively) long term view. While “get rich quick” scenarios such as buying a distressed asset and “flipping it for a quick profit” always attract mass appeal, the most successful real estate entrepreneurs in history view income producing real estate as an investment, not a speculative hit and run. (more…)