Faithful readers will remember that GlobeSt.com offers news and
opinion about all things commercial and investment real estate. I
enjoy following their bloggers, even though I often have to dial up
my negativity filters. Jonathan Miller, aka The Trend Czar, has
his latest blog post here. Comment worthy excerpts here:
"We all know the economy has been flagging, but now the
impacts hit even our most impervious markets. The New
York State Comptroller forecasts Wall Street will shed
10,000 jobs by year-end 2012 and even recession resistant
Washington DC girds for possible unthinkable federal
government jobs cuts."
Nice to know that the "unthinkable" is being thought. About time.
"Investors who thought prices were too rich in the top
gateway markets and pulled back were right. The problem is
there are no bargains anywhere else, just increasing risk."
From what I can tell, there are bargains all over the Mid-West.
Might have to work a bit harder and do a bit more due diligence,
but good investments at reasonable cap rates are still available
in our market. For instance, a single tenant net leased building,
constructed in 2010, with a ten year lease, available at an 8%
cap rate. Do stop by.
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