Commercial Real Estate Week In Review

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Commercial Real Estate Week In Review for the Week of September 4-10

– Was Lehman Brothers in trouble long before it collapsed?

– When will the Fed make a move to quell unemployment and the economy?

– Why is the housing market sluggish despite prop-ups?  Underwater mortgages.

– Japan is looking to alter REIT regulations to retain more earnings.

– The case for renting is growing stronger by the day.

Llenrock Book Review: N.I.M.B.Y. Wars

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To continue on this week’s political trend, I wanted to take a moment to share an extremely insightful book with all of you having to do with real estate, specifically, land use and zoning.  Most developers are familiar with the acronym NIMBY, which refers to the phrase “Not In My Back Yard.”  What many developers do not seem to realize, however, is that all ground up development is as much, if not more, an exercise in politics as it is an exercise in real estate. P. Michael Saint, Robert J. Flavell and Patrick F. Fox of the Saint Consulting Group in Boston have done a tremendous job not only of exploring the dichotomy between the two, but exploiting the process in favor of the developer.  Regardless of whether you want to develop an urban infill location, a brownfield, or an environmentalist-heavy rural sprawl, there are do’s and don’t’s during the approval process.  Failing to follow certain procedures can kill your deal and make it  exponentially harder to resurrect. Play the game the right way and you can win over even your most ardent opponents. Let’s take a look at some of the book’s finer points…