News
PERFORMING TRIAGE
October 13, 2011
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| 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." |
