SDM Partners' Steve Martin has just taken the gavel from Welsh Cos' Jean Kane as this year's NAIOP national chairman. Steve freely admits he's taking the reins at just the right time. Being the chair “allows you to feel the pulse of a lot of different places,” Steve says. His prediction: Barring any unforeseen event, we have several more years of run as an industry.
Steve, who most recently purchased Sandy Plains Business Park--a 167k SF flex industrial park in Marietta--from RREEF this past summer (here), says the office market has corrected to the point that “distress is gone” from the sales side. And those investors who bought three to four years ago are selling their holdings for a profit, especially as rents finally begin to ramp up and little new product is getting built.
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