It's important to stay optimistic yet realistic...
I had the opportunity to talk with Mikhaela Singleton over at News 10 yesterday and we discussed some of the intricacies of navigating commercial real estate in the Albany area during COVID-19. Here are some of my quotes from the article and feel free to contact me if you have some interest in selling or acquiring commercial real estate.
"Sellers need to be realistic and realize how much it cost them per month to continue to hold the property and to look at an offer that's realistic and not necessarily think just because their interest rates very low that they're going to get a premium at this time," Jay Verro explains.
"The first day that we were allowed to re-open, my very first appointment turned into a lease. There was a lot of pent-up desire to come up with a game plan, and depending on what type of field or industry the tenant or buyer is in, they may have been more or less affected by the pandemic," Verro says. "People that are out and about and looking now seem to be more serious than they have been in the past prior to the pandemic. They are doing so because they either want to possibly own their own building or lease a building that doesn't have as much shared space and protect their staff and clientele."
James "Jay" Verro, CCIM
+1 518 465 1400 ext. 214