Author: David Marino
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The Misapplication Of Comp Data In Commercial Real Estate
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In many real estate transactions, buyers and sellers assess the market value of a property using market comparables, or “comps,” of similar recently sold properties. Within residential real estate, comps are powerful indicators of market value since sales can be accurately compared (“comped”) with similar properties based on square footage, condition, age and other features…
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When searching for commercial real estate space, CEOs have been taught that vacancy rate indicates how soft the market is. “But vacancy rates are not what they appear to be,” says David Marino, principal and executive vice president of The Irving Hughes Group. “We need to stop talking about vacancy rates and start talking about availability rates. Availability rates will…