In today's hypercompetitive market, firms are increasingly looking for the edge and one way to stay ahead of the curve goes back to the basics of real estate - developing a multi-disciplined approach to client transactions.
What does this mean? A recent example that helps bring this to life is a deal we closed this year for 35 Journal Square, where we were able to represent both the buyer and the seller. The property, a 12-story, 200,000 s/f office building in a thriving section of Jersey City, was already occupied by PSE&G, Capital One and Blink Fitness. Leveraging our thorough understanding of the asset, we were able to position the uniqueness of the asset to get the deal done in a timely fashion.
But beyond this specific deal, let's look at some of the benefits of utilizing a multi-disciplined approach.
Representing both the buyer and the seller in this deal (and others) gives us a leg up, as we're able to draw on our thorough understanding and history with the building to highlight key selling points (i.e. quality of the neighborhood, stable cash flow, etc.), which allows us to present the property in its best light.
It also allows us to pinpoint the documentation necessary to handle the transaction with ease, essentially streamlining the process and facilitate it from start to finish.
Lastly, we're also able to draw on our knowledge of the requirements on both ends. For example, if there are timing mandates on either end, we're able to move quickly to close in a timely manner, and arrange appropriate financing, when applicable.
In the end, we're able to come to an outcome that satisfies both parties, as was the case with 35 Journal Sq.
Roni Abudi is managing director, investment sales at GFI Realty Services, Inc., New York, N.Y.​ Tags: