"Is it leased yet?"
The partner asking this question already knew the answer. The partners will know before anyone else when we secure tenants for the building. They just like to keep some "friendly" pressure on the guy who is responsible for getting the building leased.
That would be me.
Leasing efforts for a project like this begin the day the land purchase contract is signed. Even before the design is complete efforts are made to identify potential prospects and make sure the local commercial brokers are aware of the project. EmersonOne was highlighted in this years Core Tour of commercial developments in Howard County. The Core Tour is held every 18 months and is sponsored by the Howard County Economic Development Authority. When the four buses of brokers and bankers were driven by the site in April all they saw was the leasing sign and a large empty lot.
In this business no prospective tenant is going to start taking a project seriously until they see the building actually being built. Everyone knows and understands this but that still does not keep the partners from asking the question, "Is it leased yet?"
The answer is no. Until that answer is yes I won't sleep well.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment