NAI Global, the world’s premier global network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced Greg Schecher has joined its Capital Markets group as Senior Vice President, Finance.
As is typical, the industrial segment will lead the industry out of the real estate doldrums. The asset class is fairly less sophisticated then multi-family and office and retail remains a conundrum.
B-class assets and incubator vintage infill will be the first to lease as service companies and ancillary support companies will be buoyed by the improving economy.
NAI Global, the world’s premier global network of commercial real estate firms and one of the largest real estate services providers worldwide, today announced Jay B. Olshonsky has joined the NAI Global New York City team as Executive Vice President & Chief Operating Officer. More >
As compared to typical office and industrial site selection, call centers demand more information about the availability and cost of labor than about the buildings. Call centers evaluate potential state, county and city incentives that are available based on the number of employees and the wage levels of its employees. The reason for this focus is the economic impact of the employee’s salaries over the term of the lease on the local community. More >
Commercial real estate increasingly is becoming global in terms of the property owners/investors and capital players, yet in many ways it remains a local business. Local supply and demand takes precedence over regional demand and local practices still dominate markets. Therefore, it is important to have local representation when participating in a real estate transaction.
Can’t a broker I trust from another market handle things for me?
You would probably not trust your foreign car to a local gas station because the standards and practices needed to complete the work require a special set of tools, unique understanding of the automotive asset and specialized training. Similarly, local agents understand the dynamics of the local market in a way that outside agents do not appreciate. Local agents typically have grown up in the market; they have made their career in the local market. They may have gone to high school with the mayor and/or the local planning and zoning leadership. As a result they have an in-depth understanding of the properties that are on the market, the reasons they have not sold, the concessions that made to complete other local transactions, concessions that other owners may accept and the properties that may become available under the right conditions.
Why then would you utilize less than a local expert for any local real estate transaction?