The best operators that we experience in our work as commercial real estate professionals are those focused on the RIGHT data sets. More specifically, the segments of data that are the drivers of their business. The most elite can tell you exactly where they are, at any given time, down to the percentage point. They are able to monitor internal and external factors which enables them to reserve the space (and time) to make the big decisions and execute on the needs of the business.

Whether your data is tracked in an actionable dashboard, an excel model, or the OG, Quickbooks – the key is to track the RIGHT data in order to create a real time framework to take action when you are faced with milestones that your business will face. Milestone (events) come in many forms, some you can plan for and some you cannot. To illustrate how this can translate to a business’ commercial real estate, let’s draw up two examples:

As a Tenant, you have a lease renewal coming up in the next 18/12/9/6 months and you are forced with a pressing decision, as The Clash so eloquently put it, “…Should I stay or Should I go…”. Maybe you have a renewal option to consider, or maybe you’re at the end of your term and need to engage the Landlord, or your broker, to renegotiate. The inverse of this is also true for the Landlord’s side, as their real estate IS their business. This is where the DATA comes in… if you stay, can you even afford to, and how does this impact your ability to accommodate your growth? There are a 1000 different scenarios… the key is to be pro active and run the illustrations through your framework.

As an owner, you are faced with the opportunity to scale, or consolidate. What do I do with my existing building? Do I roll it into what’s next or can I afford to retain the asset and lever up to my next opportunity. There are so many variables that contribute to this specific example such as market conditions, product type, building condition… but again, it all depends on your unique business model… and do you really have enough data compiled and organized to have a reliable framework in which to make an informed decision?

THE PLUG
Listing of the Week

This property is soon to be vacated by the Independent Electrical Contractors of Oregon. This space served as their training center, lab and classroom space and was once home to the HQ of the Oregon State Police. The building is functionally designed to accommodate designated storefront suites allowing for a two tenant scenario. It is ideally situated with high exposure to Portland Rd with a secure gated entrance, abundant parking and even has a back-up generator to take any down time off the table entirely… See the following links for the Youtube video and the for our 3D Walkthrough on Matterport!

One of the most appealing aspects of the property is its location in the City of Salem’s North Gateway Urban Renewal Area. This allows for Tenant’s to take advantage of various grant funding for building improvements. These programs have been leveraged by businesses all over Salem to make getting into a space easier on the front end with capital infusion to Tenant Improvements. Are team is well versed in navigating this process…

Interested in learning more? Click here to learn more!

COMMUNITY SPOTLIGHT
Salem YMCA’s Signature Event!

The Salem Family YMCA’s Signature Event is here 03/08 @ 5:00 PM @ the Salem Convention Center!

The evening is loaded with fun and excitement in support of YMCA programming. This year’s theme is 70’s and although I was very much not alive during this era I am absolutely positive that the event is sure to draw an amazing crow, loads of support and a whole lot of retro vibes. If you have any questions about attending the event or how you can get involved, please feel free to contact the YMCA’s Community Engagement Manager, Lana McCoy: [email protected]

Click here to see the event page!