Commercial Real Estate: Value Is In the Eye of the Beholder

I started this Blog to talk about the various issues -- legal and otherwise, new and old, tangible and intangible -- that collectively have an impact on the value of commercial real estate (CRE).  There should be a lot to talk about, as it goes without saying that the concept of "value" in commercial real estate can mean different things to different people at different times. Just ask the fine people of Pontiac, Michigan.

The fact that there are so many "moving parts" to the value of commercial real estate, no matter the size of the property, is both fascinating and challenging to me. The goal here is to start a conversation about value that goes beyond formulas and numbers and touches on the following areas:

  • How the definition of value can vary so much.  In other words, exploring how, when and why one's "belief" in the value of a piece or type of CRE can change depending on one's seat in the worship hall and the time of the service.
  • The various "moving parts" affecting value in CRE and the small businesses that are taking best advantage of them.
  • The people that are talking about value in commercial real estate, whether they know it or not.
  • The “best practices” that are being developed and used by small businesses throughout the industry to create, increase or protect the value of commercial real estate.

So, welcome, one and all.  Allow me to start the conversation with the following question: how do you define "value" in commercial real estate? I look forward to discussing your answers. As for me, I'll try to give you my answer to that question through the posts that follow.