| We recently chatted with Concordis Advisors' Willard Freeman to get his take on the office market. “I think we're going into another period of uncertainty,” he says. As a result, corporate tenants are returning to short-term leasing solutions instead of locking in long-term. “Clients are either pausing while they're considering the five-year renewal, or they're opting for the two-year renewal,” he says. Concordia does work for some of the biggest corporate players in the US, including AT&T and Verizon. And more and more, Willard says clients take the “study mode” approach to real estate, with brokers acting as consultants instead of actually making deals. “We continue to be in the study mode. And I got to tell you, it gets old.” (Reminds us of calculus.) Also, Willard says credit has become a primary concern in lease talks. "Tenants have real concerns about the future market conditions; and credit concerns prevail on both sides of the table from landlord and tenant." |
PERFORMING TRIAGE
Continue reading this story with a free account
Log in or register
Related Topics:
3333 Warrenville Rd, Advocate Christ Medical Center, Albert Schulman, Alex Blagojevich, American Chartered Bank, Arlington Heights, Balay Architects, Bayview Loan Servicing, Ben Erskine, Ben Warriner, Bluestone Healthcare Partners, Brad Thompson, Bruce Sturgis, Byrne Design, CA Technologies, Christopher Hyldahl, Columbia Centre, Dan Fernitz, Dave Bennett, David Burden, David Gaines, Downers Grove, Elston Industrial Lofts, Fort Wayne, Foster Shopping Center, Fresenius Medical Care, Glendale Heights, Glen Ellyn, Glen Missner, Gold Coast, Harbour Construction, Hare Plaza, Heitman Architects, Hibachi Grill Buffet, Humboldt Park, JC Anderson, Joe Krusinski III, Jones Lang Lasalle, JW Marriott Hotel, Krusinski Construction Co, Kudan Group, Kyle Stengle, Mark Heffron, Mark Myers, Millennium Properties, Oak Lawn, Patrick Owens, Paul Davis, Prudential Rubloff, Rick Benoy, Roselle Rd, Saletta Commercial Realty, Scott Staros, Stonegate Apartments, The John Buck Co, The Missner Group, Todd Halamka, Tom Saletta, Transwestern Investment Co, Virgin Hotel Chicago, Virgin Hotels, White Oak Realty Partners, Zip Fitness
