My first Broker, the Del Webb Corporation, was big on fast failure. The principle and skill of what I now call Terminatio Simulatio Velociter was drilled into the head of each fledgling Sales Counselor whose job it was to meet, greet and qualify prospects who visited the Sales Pavilion in Sun City West.
Now, some nearly 25 years hence, I truly do recognize the importance of “sorting” and the notion of elimination has become more and more a part of representing my commercial real estate clients effectively.
Of late, and driven by market conditions, there has emerged a new brand of bottom-feeding. It’s a concept I call “LOI Shopping” or, maybe “Networking the Deal” for better terms.
There is no doubt in my mind that this carp-like behavior among prospective tenants is a product of too much inventory and the desire of often marginal tenants to continue their vain attempts to shrink or even collapse the pricing envelope.
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