A NEW YEAR

Wow, can't believe we're almost to the end of January 2010. Also can't believe I have lived until 2010. Anyway, Over the past month local commercial leasing and sales seems to have had a resurgence. I believe, as I have always said, people have to have a place to do business. If they can't buy, they will lease. So I am seeing a rush to secure space for the new year. This is good on every level. It pays my bills, it gives landlords income, it gives businesses hope and rolls on through the economy with jobs and dollars to follow. It's all good. The only downside I'm seeing is we are looking at a significant correction in lease rates. The days of $30/sf rents is over for now. I think that bubble has burst. I know some would say I'm wrong, and you can see it in rents at some tonier places, but I'm also seeing people going under in those locations. They say an economic correction is good for the soul... we'll see.