Speaker Stephen Blank, of the institute, pointed to some of the key points of the study, which included the fact that while it is a good time to sell non-strategic assets, such sales will lead to the question of where to re-invest.
He noted that while investments are hot in what he termed the Big Four--Washington, DC; Southern California; South Florida; and New York City, "There is a growing concern about investing in a lot of other markets," he said, noting that questions arise about "in-migration, job growth and exit strategies," in those secondary locales.
So where are the best bets for investment and development in 2005? According to the study, "It's a great time to weed out non-essential assets," said PwC's Peter F. Korpacz. Also, "Hold some powder," he continued. "As some markets improve, there might be additional opportunities."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
