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Interview with Chad Shapiro, on the Atlantic Seaboard and City Bowl office
Category Property News
What commercial property types are you seeing being sold the most? And why?
In the current market and climate, industrial sales seem to be the most solid with manufacture of basic commodities in emerging market which are mostly always in high demand. Businesses are purchasing industrial properties with a fair amount of confidence in comparison to other types commercial purchase interest.
What are the main reasons that commercial property owners are selling?
Immigration, a weak economy, the need to free up capital and the fact that sizeable bank finance is harder to secure in this market. Retail is also becoming less stable as a commercial investment as online sales have had a major impact in the need for retail space. Also, the requirement for investment in high end retail space and that relative cost is a factor, and then the number of retail locations that a company may require. Many retailers are now downscaling.
How easy is it, generally, to find buyers for these properties? And who are the buyers?
Commercial buyers are quite regular by nature. Most of the established buyers buy regularly, each of these have their own particular requirements and modus operandi. Understanding their particular interests is key to working with commercial buyers in the long term.
Are there any particular areas in CT that are seeing more sales than others, and why?
The industrial sector is generally performing well, especially industrial areas such as Epping Maitland, Endabeni and Montagu Gardens.
Are there any particular areas in CT that are most sought after by commercial property buyers, and why? What types of properties are these buyers looking for in these areas?
High end areas will attract top quality tenants and securing medium and long term low risk tenants is a priority. These will also increase the value of a commercial property from the income that is generated annually as well as the asset value of the building, that being its value for resale on intrinsic value.
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