We are coming up on our 4th Anniversary of starting Ironvest Partners, and what a wonderful four years it has been. From our kitchen table to an empty office, and now an office overflowing with people, this capitalist adventure has been one of a true partnership. I wanted to take the time to say thank you to my wife, Anna Crook. Without Anna, there would be no IVP. She might be behind the scenes, but she really is the backbone of this company. She performs many of the tasks that receive no attention or fanfare. More than anything she is supportive of my dreams and is my number one cheerleader. Thank you Anna for all that you do for me and the IVP team! Your hard work will never go unnoticed.
The Real Estate Market
The commercial real estate market continues to perform at an exceedingly high level. Being in the industry, it is remarkable both how long this market has lasted and how good it has been. There is no telling when the market will cool off, but I do know that real estate markets move in cycles. We are solidly in Stage 2 (see graphic below). This graph is a great reminder that blue skies and sunshine do not always last forever.
The Latest Snapshot
From a sales standpoint, there is low inventory of property but a strong demand from buyers. For investment-grade properties, this is creating multiple offers and sweet terms for sellers. Vacant properties and land deals are selling at historically high prices and good terms as well. If you own a commercial real estate asset, I have never seen a better time to sell property. If you have any desire to sell, please contact us. We would love to give you a free broker opinion of value and see if we can help meet your financial goals. In many instances, deals are getting completed before a property is formally listed for sale.
If you are looking to purchase a property, I would recommend talking to one of our agents. They will keep you informed of both what is publicly listed and of the market opportunities. Noticeably, it has become a race to find properties before another party, and we can help you win that race. A quality sales agent has never been of more value.