CHICAGO—Certain days of the year are more important than others on the business calendar. April 15, of course, is known to all, along with the last day of the fiscal year. Less known, and quite unofficial, is the day after Labor Day, or as some in commercial real estate now call it, Super Tuesday. After a slow summer taken up by vacations, it's increasingly the day that owners eager to sell their properties by the end of the year bring them to market. And investors can finally start to finalize their own plans as they evaluate the offerings.
“Summers are not a productive time to put properties up for sale,” Daniel Cooper, the Chicago-based head of 90 North's North American operations, tells GlobeSt.com. And that's true for many regions across the globe, a key consideration for international investors. Ramadan, for example, the Muslim month of fasting, has begun in the summer for most of the past decade. Europeans typically take long vacations during the summer, and in many parts of Asia, summer is also a time for holidays.
But once summer ends, and only a few months remain in the year, Cooper adds, “how do you reach you goals on transaction volume?” The answer for many is Super Tuesday. “It's a time to do business.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
