This week’s perspective is provided by Mike Sullivan:
Last evening I had the opportunity to attend an open house for a locally-based retailer. This particular company, which is in the tire business, recently acquired a large warehouse and office building to facilitate their aggressive growth plans and to relocate their corporate headquarters from an out-grown location in town. By the way, one person within the company said they are already getting tight on office space. Considering they have been in the building a few short months, that’s an impressive problem to have. So what do tires have to do with real estate? Here’s what . . .
A team within Cassidy Turley’s industrial group identified the property and assisted in identifying a contractor for the office build-out process in this new facility and will be leasing an additional industrial building which is located on the property. One of Cassidy Turley’s retail team members is part of the company’s internal weekly real estate meetings and is in the process of identifying sites throughout the region for new retail locations. And our capital markets team is in the early stages of assisting the retailer in identifying opportunities to leverage their corporately-owned properties in ways that facilitate their aggressive growth plans. This is a perfect example of our firm’s ability to deliver a full range of services to help clients achieve multiple real estate goals.
Now back to the open house. The attendees ranged from bankers to developers to brokers to general business persons who are no doubt friends of the host. It was an impressive group of people. As I made my through the crowd and spoke to several people, I was impressed by the general sense of optimism shared by all. Maybe it was the unseasonably warm weather. Maybe it was the first-class spread and cocktails. Or maybe it is truly getting better out there in the business and real estate worlds. Personally, I happen to think it is a combination of all three.