News & Articles
One doesn’t create a legacy overnight.
Donald R. Kenney has spent the past five-plus decades creating his.
In 1966, Kenney – a Columbus native who had recently attended The Ohio State University – founded Donald R. Kenney & Company Realtors. In the five-plus decades since then, DRK has overseen the development of more than 50,000 multifamily and extended-stay units.
Business – and commercial real estate (CRE) – moves at the speed of light. In 2018, it seemed to have pushed the gas pedal down just a bit farther.
During the first half of the year, CRE transactions were up 13% year over year, all the way up to $341 billion. Whoa. In America, that volume went up by 11%, all the way up to $122 billion. The U.S. remains the most popular CRE market in the world, with Hong Kong and China behind it.
This upward trend is expected to continue to start off 2019, although some experts believe the CRE market is nearing its top and expect the growth to slow considerably.
In case you hadn’t heard: Winter is coming.
Assuming you don’t have any Game of Thrones-style fire-breathing dragons to help with snow removal on your commercial property, you’re going to have to have a plan – and before the snow starts falling from those seemingly endless grey skies.
Despite its generally negative connotations, procrastinating can be beneficial in certain situations. It can focus your mind in the waning moments before a deadline, “encouraging” – some may say “forcing” – you to do your best work.
Your company’s lease expiring is not one of these “certain situations,” however. Putting off considerations on if you’ll renew, relocate or build your own space will only cost you money and stress in the long run.
Any business owner should determine its physical location plans for the next lease earlier rather than later – the longer you wait, the lower your chances of finding a suitable place to house your business.