I wish I had a dollar for every time someone asks me about the market...NO, I MEAN REALLY...
This is a strangely familiar market for me. It is almost identical to the one I entered 7 years ago. For anyone who doesn't remember, we had a multitude of commercial buyers and no inventory, we had an over abundance of office inventory, but no retail and you couldn't find a building to purchase because everyone was holding on to their overvalued property because they were certain it was only going to get better.
Well roll ahead to today. I have a multitude of retail and restaurant renters and buyers, nothing to sell them and not much to lease them. We have a plethora of empty office and very few of those tenants. Everyone is holding onto their undervalued properties because they're certain...it's going to get better.
Anyone got anything they wanna sell? How about some small retail in downtown Olympia for lease???
I've got tenants, buyers... but no bananas...
Wednesday, February 24, 2010
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