First, recognize that today’s industrial real estate market is extremely tight and competition for quality space is fierce. Clearly understanding that market dynamics will dramatically increase the chances for success in this competitive environment. Coupling a thorough market understanding with a clear presentation of your financial qualifications is critical to getting sellers and landlords excited about your offer. Finally, to be prepared, have a strong network of professionals (CPA’s Attorneys, Contractors, etc) who can help navigate the hurdles of closing a transaction.
As we continue our consideration of this tight market, remember that the more flexible you are in the search for industrial property the more options you will have and more negotiating leverage you will have. Is there flexibility in the size, geography, condition, etc… that is needed? Being flexible will also help when it’s time to walk away from the wrong deal. It is important to be willing to walk away from any deal and to be flexible with your requirements.
Who should you be partnered with on completing this significant real estate transaction? The key is to have a good agent who also has a network of skilled professionals ready to assist. That is where our involvement is so critical. Your first professional is one who handles industrial real estate day in and day out, and who has the knowledge, experience and relationships that can make all the difference. The right agent, through years of experience, has developed a network of professionals (engineers, moving companies, accountants and attorneys) who can successfully assist throughout any transaction.
Along with our team and network of professional contacts, we have represented numerous clients as they buy, sell or lease industrial property. We take a very professional approach and value our professional contact relationships so as to make the most mutually beneficial introductions.
In 2021, as the industrial real estate market remains very tight, it is important to remember that preparation, flexibility and knowledge will help you stand out and get the deal while others are left looking for another option….
Contact Christopher Destino today to discuss your commercial industrial real estate needs.
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.