Better late than never #CRE

Often I deal with clients that believe their CRE deal is time sensitive.  Yes- if you have current employees being impacted by a lease expiration it may be.  But in reality, the only time a lease becomes time sensitive is when things have gone sideways (aka, I forgot that I had to deal with this 6 months ago).

Commercial real estate deals with long periods of time.  Even in the situation where you are moving from one location to another there is often a couple month period of overlap.  This is because you have to design the future space, build it out, move furniture, and then close out your current site.  If you are dealing with a schedule forcing you to operate down to the hour, you’ve not managed your schedule very well.

Now to the other situation of a new site- you are making a multi-year decision (3 to 10 years or more).  In what world do you need to make this decision within a defined period of days?  Rush only for the exact right opportunity, most other reasons are artificial and should be managed.  Missing self-imposed deadlines for good reasons should be acceptable.

Better late than never.  Your long-term decision is being made for a reason.

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One thought on “Better late than never #CRE

  1. Decision making is best done without procrastination. The speed of which a leasing decision needs to be made is dependent upon many factors. Consider that not all real estate is fungible and >4-6% availability is a reality in certain product types and submarkets.

    Our role as Real Estate professionals is to shepherd client needs with careful planning and processes that address issues before they arise. Decision making becomes the natural outcome of organized process–effortless, fast and without hesitation.

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