commercial real estate

One of my clients - an investor and owner of a commercial mortgage brokerage business - confessed earlier this week that he was having a chicken little moment.

Offers he’d made earlier in the year to buy product that had been turned down - he’d been third or fourth in the bidding sometimes - were now coming back to him. He had more opportunities than he knew what to do with.

It was exciting at first, until he realized there were no lenders out there to finance the opportunities. Loans offered last week were no longer on the table. Many of his sophisticated equity partners were “on the sideline” for now.

It’s time for brokers and buyers to go where the market is taking them — and that is to distressed assets. My primary focus is on talking to the most motivated sellers: cash hungry sale leaseback prospects, lenders with troubled loans or REO to sell quickly at a discount, troubled owners, and the like.

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NAI KLNB is please to offer a brand new freestanding CVS leased for 25 years in the affluent Washington DC suburb of Manassas, Virginia.

CVS Caremark  (NYSE:CVS, S&PBBB+) is the largest provider of prescriptions and related health care services in the nation. The Company fills or manages more than 1 billion prescriptions annuallyand operates 6,300 CVS/pharmacy stores. The Company enjoys annual revenue of approximately $80 billion.

A fine 1031 exchange or alternative the stock market in this ugly time.

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