Reading any of the daily newspapers' headlines can suck thejoy right out of almost anybody's weekend. This isn't a time tohide underneath the covers, but to take the bear market by theteeth and make business happen. Half of our readers polled thinkthis market is business as usual. Another 28% say they prosperduring down periods, while 22% despise dry spells. Paul N.Glickman, vice chairman of Cushman & Wakefield, spoke to usabout the industry's morale, business and the new opportunitiesarising.

"We've been as busy as we've ever been. I think this createsopportunity. Change creates opportunity. I enjoy that. That'swhat's fun about this business. There are new clients to be hadthere are new creative ways to structure transactions, and that'sopportunity. I don't view it as 'morale is down.'

"I think it's business as usual, for better or worse. I thinkyou have to work a little bit harder and a little bit longer inthese types of marketplaces, particularly on the agency side of thebusiness. When you have a supply-constrained marketplace and rentsare rising and there are more tenants, there's more demand thanthere is supply and there are more tenants than there are spaces.It's basic fundamentals.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.