In a recent Bloomberg Surveillance interview, John B. Levy discussed how the rise in eCommerce is driving a major shift in the commercial real estate market.
As published in the Richmond-Times Dispatch on December 5, 2016.
The Windsor Business Park in Henrico County sold Friday for nearly $33.3 million to a Maryland-based commercial real estate owner and operator along with a local investment group.
The property, one of the largest business parks in the Richmond area, was acquired by Fernau LeBlanc Investment Partners and an affiliate of John B. Levy & Co., a Richmond based real estate investment firm.
For the first time in history, a commercial real estate developer will lead the free world, but Presidentelect Donald Trump’s tweets are probably more to blame for post election market volatility than his occupation.
Pop rock songwriter P.F. Sloan wrote the quintessential anti establishment tune in 1964 and Barry McGuire made it famous in 1965 singing the lyrics “You don’t believe we’re on the eve of destruction” as it reached No. 1 on the charts.
Although most political observers would conclude the song applies to today’s state of affairs, “Eve of Destruction” would be an overstatement for most commercial real estate players.
The Portland, Ore.-based alternative rock band Joseph has a hit song, “White Flag,” that speaks to never giving up despite “noises closing in from all sides … warning all the ways to die.”
While the band most certainly isn’t talking about the economy, the sister trio’s eerily sirenlike voices are singing the song of real estate investors today.