Covid-19: What’s Working in Real Estate Right Now
Global pandemic. Yesterday’s news.
Economic chaos. Months of it in our rearview mirror.
Amid a combative political year where insane sums are paid out to those who exacerbate our fears of existential threats. Oh, well, 2020.
Some parts of the world still work, thankfully.
The bidding wars are insane. One home in New Jersey went for 21% more than its asking. That insane. Dozens of towns on the outskirts of The Big Apple are inundated by this mass exodus from big cities, a flight capable of turning NYC into a ghost town. Of course it can, look at the buffoons charged with running things, and look for this to replicate in all similarly maligned cities across the country.
No shocker. We’re on the road now, not in planes. HCC is looking at a just-built one in Springtown, TX, a mixed-use facility of RV pads, self-storage, propane sales, a pool. Price $5M. Travis is running the numbers.
A surprise against the backdrop of mainstream bankruptcies like J.C. Penney, Brooks Brothers, et al. Boutique, however, is another critter. We’ve an LOI from a group whose niche is spa/salons. Tis would swallow 9,000 SF of our retail strip about to go up on FM 548 in Forney, TX.
Well, we’re all cooking at home now and grocers are killing it. Tom Thumb has reconfigured its site plan to the city’s liking. Our 32-acre corner in Forney, TX will soon become a Tom Thumb center. 2nd quarter, 2021.
Medical Office Buildings
We’ve two working in this product line. One is a letter of intent from an urgent care doctor in San Antonio. His three locations in San Antonio could soon become four if we get this. His eyes are on a 2.17-acre lot in Cresta Bella; this makes his second run at this lot. The other is a 5,000 SF spec MOB on FM 548 in Forney, TX, on our land wrapping 7-11. 1st quarter, 2021.
As Hurricane C-19 continues its assault, don’t forget that the storm doesn’t matter until the storm begins to get you down – be kind to yourself.