For business owners faced with a multitude of decisions on a day to day basis, the prospect of not having to make an additional decision about real estate may be a welcoming thought. However, in the fast paced society in which we live and work, our real estate considerations cannot be postponed to once every 3, 5 or 7 years. Whether or not an immediate decision is required presently, we must be in tune with the market and the current dynamics on a regular basis so that we know what opportunities are available, what challenges may be coming, and how we, as business owners, can profit.
In this month’s issue of ‘Industrial Insight’ we want to look at 3 such items to be constantly aware of, regardless of whether or not you just signed a new lease, you have multiple years left on a lease, you just purchased a property, you have owned your property for many years with no plans to move, or if you are in another scenario.
We must ask ourselves, regarding timing,
The primary issue here is to be aware of the potential opportunities that are available given your unique situation. We will get into these opportunities more in the next point, Terrain. But for now, it is important to know the timing of your real estate decisions in light of the market cycles. Work with a real estate advisor who knows the market and the industry well so that they can help you make the best evaluation and decisions.
Here we are not talking about the landscape around your property, but the landscape of the overall market. Even if you were not thinking about making a real estate decision when you woke up today, could there actually be opportunities out there for you to capitalize on? In any market cycle there are, and it is advantageous to spot them.
Let’s look at 5 such opportunities:
Working with a real estate advisor who has experience in various types of considerations and transactions makes all the difference. I have completed many transactions like the ones described above and I can help you evaluate and determine if one is well suited for your situation.
We have taken a look at various options and you may have determined that, although you had considered a potential change sometime down the road, now may be a better time to evaluate your options.
Working with an experienced real estate advisor can help you to look at the real numbers and evaluate:
It is important that you talk with a trusted real estate advisor about your unique situation so that you can genuinely evaluate if a real estate decision now vs later would be in your company’s best interest. I have nearly 10 years of experience in successfully handling these types of scenarios. Please call me today so that we can evaluate and develop a viable solution together! Contact Me Today.
Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.