18 Nov 2010, Posted by Lawrence R. Armstrong in business, 1 Comments
CRE Industry Pulse
I recently got back from NAIOP Development 10 National Conference, which was held in Orlando, Florida. I noticed two things that changed from last year and years past.
- There is renewed optimism. Not everyone has captured this spirit yet, but it is there. People are making predictions about when speculative development will return (depending on the location 1-3 years.)
- Many are embracing more modest expectations and are content to pursue purchase of real estate assets, as long as the fundamentals truly work.
Very positive signs. What do you think?
Lawrence R. Armstrong, LEED AP | CEO
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1 Comments
November 19, 2010 5:56 am
Brock Grayson @brockgrayson
I agree that there is a sense of renewed optimism. I see it taking place in the Phoenix, Arizona market. The fourth quarter of 2010 has been a very active quarter. We are seeing a lot of action in the office tenant market, whether it be relocation, consolidation or taking advantage of lease expiration. In the industrial market we are seeing the Build to Suit opportunities leveraging competitive land deals and low construction costs.
We found the bottom and are now making a slow and steady climb out of it.
It’s all good!
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