Current Market Conditions

Like the weather in Jacksonville on June 8, 2009 the current conditions are cloudy,stormy with potential clearing insite. Let's start with Commercial Brokerage houses, in general many commercial salemen jump off the bandwagon during troubled times and in Jacksonville this is happening. The larger corporate owned shops i.e. CBRE/JLL/C&W have restructured their operations, reduced commissions to their brokers,laid off salaried employees and cut expenditures anyway possible and they are still losing vast amounts of money. The independent owned and operated shops i.e. NAI/Colliers/Coldwell Banker cut expenditures anyway possible but the removal of Coporate Overhead makes being an independent attractive.

The property owners, fight to collect rent, must be willing to work with their tenants or they could lose them as well as facing renewals for their tenants that demand large rent reductions or they will relocate. Landlords with vacancies are aggresive and it forces other landlords to be agressive in renewals. Companies that are doing well and have strong financials can make some good deals and it doesn't matter if it's Retail, Industrial or Office. That's the stormy side, the clearing side is deals are being done, good companies are expanding and taking advantage of current conditions and space absorption is happening. NAI Commercial is taking advantage of the market and the conditions and is poised to weather the storm.