Reaching for the stars and missing out on the deals

This year is proving to be a year marked with more activity than we have seen in the past two years.  Our company as a whole has done over 275,000 square feet in leasing activity over the past six months.

That said, the deals are there to had if you believe your business and you believe in the future.  Let’s just stop blaming the government for everything that can go wrong in this economy.  Business is still being conducted as we speak.  The blame game must end.  The market rental rates in our area are at levels we have not seen in years, to the point of there are no excuses.

If you have a business that is doing well or even keeping people employed, you should be either expanding or renewing your business right now. This is the time to lock in a good rate and get on with what each business owner does best, focus on their business. There are opportunities abound. This is the time to seek out the opportunities that are available to us as our market changes. Change is good and healthy for any business. There are too many concerns out there about the government and what it is going to do next – all that is doing is rendering us helpless & losing confidence.

We have just completed a medical lease deal on US 41 that is 40% below the 2005 high, but the landlord is happy that we were able to secure a good tenant & the tenant is happy to lock in to a 10 year lease because he sees the opportunity. The rate ensures two things 1. The business will be successful and 2. The property will be taken care of, the taxes will be paid & the owner get a return that he is comfortable with.

In the days of the peak, we used to say that there is gold everywhere in Florida, all we need to do is know where to look. That statement still hold true today.

Jag Grewal had been with Coldwell Banker Commercial ever since they purchased Arvida Realty in 2001, prior to being recruited by Ian Black Real Estate. He has been involved in a multitude of transactions from investment grade and development to industrial properties representing REIT’s, such as The Lightstone Group and Prime Retail. Jag, a wellrespected commercial real estate broker, has earned numerous distinctions throughout his career completing sales and leases over $150M in this region.

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