Economic Recovery

RE/MAX International recently held their second symposium exclusively for commercial real estate professionals and I was privileged to be invited to attend. The symposium was a chance to meet and compare best business practices with some of the leading commercial real estate agents in North America. Brokers in other parts of the country are reporting very few real estate closings, rising cap rates, and increased nervousness among the bankers with money lent on commercial properties. Here in the Midwest we have been relatively insulated from the recession and market drawback but we have not been without our share of concerns. Despite this, I am seeing an increased demand from small business owners who are seizing opportunities to relocate, expand and start up businesses. Just this week I closed one transaction for a couple that need to expand their tree trimming service, and I just got a lease signed for a young lady who is moving her pet spa and grooming service out of her home and into a retail space. The determination and ambition of these young entrepreneurs is very refreshing and encouraging. It is this spirit and dedication along with their belief in themselves that will take us a long way toward recovery. If you have concerns about your present lease, or whether you should be buying or selling property, I would be delighted to discuss them with you.