Cam Borges | June 6, 2018
Preface written by Don Hanna, Sales and Leasing Agent for Saurage Rotenberg Commercial Real Estate, LLC
The Commercial Real Estate market is constantly fluctuating. With the many factors that come into play daily, real estate professionals are constantly trying to discover a new competitive edge in the marketplace. Since the Great Depression, recessions have run in seven- to 12-year cycles. If financial history repeats itself, and experts are positive it will, we are now in year 10 of the current cycle. Currently, the economy is great, unemployment continues to fall and global equities are at record highs, but interest rates are gradually rising. At the same time, we are also stuck in an ever-changing cycle that almost guarantees an eventual shift in not just commercial real estate, but business in general. With so much uncertainty ahead, how can investors and business owners alike prepare for the unknown?
As the economy evolves, the only thing for business owners to do is adapt. The one thing all smart owners of business are sure of is that adding value to your company will make you stand out from the rest. One way of doing this is looking for under-performing assets that need cash and improvements and are poorly managed and marketed. By making improvements and re-introducing these assets to the marketplace, you will be positioning yourself to execute in a way that no one else could have.
With the many ways to add value to an asset, project or business itself, investors should be prepared for what’s to come – the economy can take it’s turn for the best or the worst at any second. The lesson is a bit like a game of musical chairs; you have to listen carefully for when the music is about to stop, and be prepared to claim your chair.
Don Hanna began his real estate career in 1996 after retiring from BASF Corporation, where he was employed for 30 years. He is particularly involved in the Ascension Parish area where he currently serves on the Industrial Development Board / Ascension Parish Economic Development Board as Vice Chair and is involved in the Ascension Parish Chamber through Saurage Rotenberg Commercial Real Estate, LLC. Don was Past President of the Commercial Investment Division (CID) for 2002, a Past Member of the Board of Directors for the Greater Baton Rouge Association of Realtors (GBRAR), a Past Board Member of the Ascension Parish Realtors Council, and is Director on the Board of Managers for the Louisiana Commercial Database (LACDB).
Saurage Rotenberg Commercial Real Estate, LLC is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
