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BYOB: BUY YOUR OWN BUILDING

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BYOB: BUY YOUR OWN BUILDING
With corporations flush with cash, many companies are now buying their own buildings instead of leasing. Binswanger's President Jeff Binswanger tells us companies like Bissell and Kohler are finding it acheaper alternative to leasing.
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But you must have cash. “If you don't have cash, you're not a player,” says Jeff, left, whom we caught up with alongside Binswanger's Jim Medbery at CoreNet Global's annual summit in Atlanta. “And owners are dying to make those deals.” The Philly CRE market and the rest of the country are “a lot better today than it was a year ago.” He's even seeing a reverse trend in offshoring, in which foreign companies are actually coming into the US to take advantage of the labor markets here (such as China, which is expanding into the solar industry). As we previously reported, Binswanger just just did a 1M SF deal for Teva Pharmaceuticals at the Omni Logistics Center.