We are all experiencing some sort of heartburn with the current trying financial times, I know I am. Whether it's a depleted stock portfolio, diminished 401k or your tenants not paying their rent (or all the above), things will get better. Let me say that again, things will get better. Now is the time to start thinking about how to best capitalize on future prosperity in this dark economic environment. Alliteration aside, let's talk about the unique real estate situation we find ourselves in.
The Fed has taken several monetary policy actions to buoy the financial markets and the federal government is in the process of figuring out the best way to help those most impacted by the sweeping unemployment effect of COVID-19. These measures will take time. Most CRE investors are in 'wait and see' mode, concerned about the now. The savvy investors view this period of uncertainty as a wealth creator. The question I've been getting over the last couple weeks is, 'where's the arbitrage'? The answer... capital.
Dear clients, colleagues and partners -
During these increasingly uncertain times, please use myself and my team as an immediate resource to help save your company money on your real estate . As COVID-19 continues to affect our city, businesses and lives, we are offering a no-cost review of your lease(s) to identify the best strategy to keep business moving forward as well as continue to have a viable space option. Things undoubtedly will continue to change, so please use us as your partner and sounding board as we learn more to provide you with updates as well as speak with your landlord to determine cost-saving options.
A few things to consider:
- Your landlord may be open to reducing or delaying your rent payment.
- There may be an opportunity to downsize your space early.
- You may have certain rights related to the Force Majeure clause in your lease.
- There may be "Business Interruption" coverage in your insurance policies.
If you are interested, we welcome a virtual discussion, whether via phone or zoom to review your situation further. To schedule a 15-minute call, please email firstname.lastname@example.org with your availability and we will coordinate.
Matt Brower, Managing Broker