Cresa COVID-19 Response: Our Commitment to Supporting Your Organization

Like you, we at Cresa have spent the past weeks assessing the quickly evolving situation around COVID-19 and actively planning how best to support our employees and clients during this taxing time. We're making complex decisions on a daily basis to keep our workforces and communities safe, while also moving our businesses forward.

As always, people come first at Cresa and our top priority is keeping everyone healthy while continuing to be valuable strategic partners for our clients. We take our role of supporting you and your business very seriously, and to this end, we have committed to the following in support of business continuity.

We have implemented a remote-work program and are encouraging all employees to work from home. We are fortunate to have a top-notch technology stack in place, having already made the transition to an entirely cloud-based system. This has been set up to handle the extreme usage demands we are currently experiencing. Our teams working from home have access to all of the technology available to them in the office, including full video and conference-calling capabilities and file access to interact with clients and each other.

We understand that we must be prepared for a longer period of disruption than any of us wish, and need to be flexible in how we work individually and collectively to approach client problems and solutions. While we are accustomed to having a mobile workforce, we have convened a task force to explore additional innovative and alternative client service approaches that can be utilized during the COVID-19 outbreak. We will be actively assessing their findings and implementing their recommended solutions and communicating them to you.

We have had many clients reach out to us and ask for advice and guidance on specific issues surrounding the COVID-19 situation, such as work from home policies, required technology to support that requirement, change management recommendations, Force Majeure, and other lease issues that may come into play during this time. With our in-house advisors and relationships with many specialty firms, we have been able to guide clients through these issues and provide answers to their questions. Please do not hesitate to reach out to us with any questions/concerns you may have and we will help you through whatever issue you are facing.

Rest assured that we are doing everything we can to stay ahead of this evolving situation, and we will communicate as often as possible with relevant information to help you move your business forward during these unprecedented times.

Most importantly, we wish good health for you, your families, and your communities.

October 20, 2020

2020: The Year of Subleases

The most notable changes are visible in the sublease market, where inventory has increased by 150 percent just since March, totaling over 2.5 million square feet. Here are some of the most notable data points on the sublease market’s incredible rise.
October 15, 2020

Exiting or Selling Your Business- What to do with the Real Estate

Knowing when to cash in your chips and walk away is the hardest decision that anyone will have to make in their career, whether they are an entrepreneur, an investor in a business, or even a professional athlete. When it comes to businesses that own & occupy industrial real estate, the major question you face is what to do with your property(ies) after a business exit. In general, you often face one of three options: lease the property to the new business owner, sell the property, or re-tenant the property. As with so many business decisions, there is no one right answer, and different advantages and disadvantages for each choice. Issues like taxes, depreciation, and personal investment objectives for you (and sometimes your siblings) will all influence which option is best.