Summer in the Commercial Real Estate World
by LAWRENCE BERGMAN
Summer is here and it’s a vacation exodus! Between the beautiful weather, the kids being out of school and a tough year at the office, you’ve certainly earned some r&r. During the summertime, in the commercial real estate world, things ramp down to a snail’s pace, until the fall when everyone is ready to start anew. However, just like there’s is a better time during the year to purchase cars and appliances, the same is applicable in commercial real estate. As a senior leasing representative here at Lupoli Companies, we are keenly aware that the summermonths are tough to get responses from people. Although, keep this is mind, if you’re even contemplating opening that new business, expanding or moving the current one, summertime may be the BEST time to call. Of course, we are always motivated to provide the best deal we can to prospective tenants, but we know there’s a lot of “checking out” starting June 21st!
Yes, it’s a bit of a trade secret giving up this info, sort of like the magician telling you how he sawed that girl in half! But I figured it’s worth the risk.
For example, we are offering extra incentives this summer in hopes of garnering some new tenants. We’re extending rent credits, office pizza parties, complimentary passes to our state-of-the-art gym, Flow Fitness and more! Even though procrastination might seem okay until the fall, it could be a significant cost reduction to start up that business now. Just remember, I didn’t tell you!