This week’s perspective is provided by Jim O’Connell:
HERE’S WHAT I THINK….. It’s “ A New Season”
The mere mention of a new season and it will be hard to get the attention back from you pro football fanatics working on the ratings of your fantasy draft picks. And from you die-hard college football fans and the strength of conference debates and other alma mater biases that are already starting to get thrown around the proverbial water cooler. And from you political aficionados that thrive on the once every four years debates of good versus evil. All of which are just now shifting into high gear.
But the new season I’m referring to here is the one for commercial real estate and that’s the new “Closing Season” . . . the weeks between Labor Day and New Year’s Eve that see the push to get transactions closed. This year’s Closing Season will have all the unknowns about player shortcomings that the pro football fantasy leagues have. This Closing Season will have all the gut-wrenching disappointment of that last second hail mary pass in college football. And this Closing Season will have all the distaste of veiled lies and innuendos about what is really the actual truth regarding our presidential candidates.
So the Closing Season should be pretty good this year. We’re well beyond paralysis 2009 and 2010, and although we haven’t been cleared for a full range of activity, there should be a pretty strong schedule of good games going on. Much of it looks like is going to fall under the definition of ‘flight to quality’ with lots of sales of stable, Class A assets in both primary and secondary markets taking center stage. And there are going to be a lot of very good B games going on too, as value-add and opportunity properties trade into new hands.
So get ready for the 2012 Closing Season, you might not see any of it on Sports Center but it is sure to be one that will be much more satisfying than anything we’ve seen in this business for several years. Click here to email Jim your thoughts on the “2012 Closing Season”.