{"id":1004211525,"date":"2009-02-17T00:00:00","date_gmt":"2009-02-17T08:00:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/cpe-uncategorized\/winter-of-our-real-estate-indecision\/1004211525.html"},"modified":"2022-12-07T19:05:44","modified_gmt":"2022-12-08T03:05:44","slug":"winter-of-our-real-estate-indecision","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/winter-of-our-real-estate-indecision\/","title":{"rendered":"Winter of our Real Estate Indecision"},"content":{"rendered":"<p>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\"><a href=\"https:\/\/64.70.41.242\/wp-content\/uploads\/sites\/46\/2010\/01\/Rob-Bagguley.bmp\"><img decoding=\"async\" class=\"alignright size-full wp-image-190\" title=\"Rob Bagguley\" src=\"https:\/\/64.70.41.242\/wp-content\/uploads\/sites\/46\/2010\/01\/Rob-Bagguley.bmp\" alt=\"\" \/><\/a>It is February 17th, and we are more than half way through the \u201cWinter of our Real Estate Indecision\u201d.<span>\u00a0 <\/span>Two or three warmer days teased us earlier this month, only to hear that frigid conditions will be returning to Chicago this week.<span>\u00a0 <\/span>However, we have learned that spring does return, and that is what motivates all of us to anticipate baseball, outdoor dining, golf and hot August nights. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">Wow, does it not read like a page from the Wall Street Journal, or a current economic overview?<span>\u00a0 <\/span>It appears that every piece of good economic news is \u201cblasted\u201d by five pieces sighting layoffs, public companies missing earnings expectations, or one more company filing for bankruptcy protection.<span>\u00a0 <\/span><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\"><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">However, we are seeing encouraging signs such as compromise on the passage of the government\u2019s stimulus package, large tenants making commitments to existing projects in the central business district, and at least one company, Prologis, being reported to having received as many as eighty offers on pieces of the 33.23 million square feet of industrial space that they are marketing for sale nationwide.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\"><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">I try to read only good news, be realistic of the challenges, but spend more of my time strategizing with colleagues on how best to continue to motivate my young professionals, add value to clients and celebrate successes, rather than dwell on the negativity.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\"><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">Indecision is not an inherent trait that will last \u2013 business leaders have thankfully learned from the past that this is a very good time to reshape their workforce, identify talent, reduce expenditures, efficiently plan their space to be more cost effective, and recruit talent that has not been available in the last decade.<\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\"><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">Real estate is still an asset that can be valued.<span>\u00a0 <\/span>It has a determinable income stream that can be valued.<span>\u00a0 <\/span>Once the future expectations for rent growth are clearly re-established then buildings will be priced accordingly, and product will test the marketplace.<span>\u00a0 <\/span>Those values will be very different than prices paid in 2006 and early 2007 but new pricing with clear underwriting will start to bring about re-establishing confidence from debt sources to lend once again. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\"><\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">\u00a0<\/span>\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt\"><span style=\"font-size: 10pt\">Bottom line, it is a great time to strategically plan, a great time to seize opportunity during this malaise of indecision, and in our industry a great time to add value to each of your clients in their real estate decision making process. <\/span><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt;text-align: justify\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 0pt;text-align: justify\"><span style=\"font-size: 10pt\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 It is February 17th, and we are more than half way through the \u201cWinter of our Real Estate Indecision\u201d.\u00a0 Two or three warmer days teased us earlier this month, only to hear that frigid conditions will be returning to Chicago this week.\u00a0 However, we have learned that spring does return, and that is what&hellip;<\/p>\n","protected":false},"author":755,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39372],"tags":[],"class_list":["post-1004211525","post","type-post","status-publish","format-standard","hentry","category-cpe-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Winter of our Real Estate Indecision - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/winter-of-our-real-estate-indecision\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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