The Evolution of Commercial Real Estate

There will always, always, always be a need for high quality commercial real estate that will never go away. A down cycle in this industry is very, very healthy for the industry because it makes all of us really do a bottoms up examination of our businesses to identify what isn't and what isn't we get rid of. These down cycles make us healthier and better. And this industry through every down cycle in my 40 years has come out the other side within two years doing better than it was doing before it entered the down cycle.