CRE has many markets and not all are performing poorly - by Christian Stallkamp

Even in this new COVID life we still do run into people we know as we are not entirely secluded. It might be 6 feet apart but we’ll run into people at the grocery store, at soccer practices (yes these kids are playing with masks somehow and not passing out) or at our favorite restaurant for take out. 

I’m surprised in how many comments I get about, oh...you work in commercial real estate, or, must be brutal. Most are courteous in their take of the market and provide solace as if your dog just passed away but there seems to be a big perception of doom and gloom in the commercial real estate world which is across the board. I either have blocked this out or don’t remember this much negative perception in the last downturn. So I’m here to set the record straight, commercial real estate has many markets and sectors and not all are performing poorly. 

Don’t get me wrong, there are some sectors and markets that have really taken a hit but there are some sectors that are doing extremely well and will continue to thrive in this new economy. The obvious are industrial and life sciences but also some retail and multifamily. I don’t have a crystal ball to tell you what next year is going to be like but for now and being a broker that is 100% commission I’m focusing on the positive.

Speaking of positive, two really important announcements as we come into the holiday season. NHCIBOR CARES is looking for cash donations to then purchase toys for families and children in need called the “Tower of Toys.” It’s a good time to hold off on that thousandth Amazon purchase and give five, ten or twenty dollars to the Tower of Toys through NHCIBOR Cares as it will go a long way this holiday.

Also, congratulations to Bob Quinn who was selected as chief executive officer for the New Hampshire Association of Realtors. Having been on the board for CIBOR for many years and now president, I have had the opportunity to work with Bob while he was director of NHAR’s government affairs. There is no doubt that he will continue to successfully lead the 7000 member organization. Congratulations to Bob and the volunteer search committee on their work. 

Christian Stallkamp is a senior broker with The Boulos Co., Portsmouth, N.H. and is the 2020 president of the N.H Commercial Investment Board of Realtors, Bedford, N.H.