Experienced real estate professionals know that success is all about mindset and finding the right opportunities for the current market. Sitting on the sidelines during the coronavirus pandemic isn’t necessary and could be a mistake, says Mark Kolsrud, SIOR, senior vice president of Colliers, Minneapolis.
“We are getting calls daily from investors looking to buy,” Kolsrud says in “Four Steps to Closing a Transaction Amid a Pandemic,” published in April by the Society of Industrial and Office REALTORS®. “This is not a down market when it comes to investments. We are representing buyers looking for opportunities throughout the country.”
Transactional opportunities abound—if you know where to look.
Kolsrud can attest to that, having just closed an industrial portfolio sale composed of 59 properties and 7 million square feet that sold for nearly $650 million. While it may seem like an anomaly, this transaction indicates a few trends:
- Large investment firms are seeking to close transactions.
- Industrial property is more popular than ever because of its high liquidity and sustainable momentum.
- Bigger is better: Multibuilding portfolios are the most sought after product.
By pursuing transactions carefully, industrial real estate professionals can keep their businesses going in 2020. Read the entire article at sior.com for more recommendations.