Silicon Valley CRE – Relationships Are the Gold Standard
Mar 25, 2020
Shane Minnis
In my 11+ year career as a CRE broker in Silicon Valley the following rang true before Coronavirus and will ring true long after… the Silicon Valley & Bay Area may be large geographically and by population, but it’s a small community – relationships are the gold standard so don’t burn bridges.
Don’t Burn Bridges
It’s true, the government is providing temporary solutions to address the ever growing COVID-19 concerns, such as the temporary eviction moratorium in San Jose (for residential properties only) along with San Francisco which includes small and medium-sized businesses impacted by the coronavirus crisis.
Others may likely follow suit, but don’t fall into the shortsighted trap of thinking you can just stop paying rent… without consequences.
These are temporary solutions to “#FlattenTheCurve”, but at the end of the day they won’t solve Your problem… instead you’ll end up burning a bridge with your landlord, a relationship you’ll likely want on your side as the current situation unfolds, let alone at some point in the future.
Same goes for landlords, don’t throw the book at a tenant without having conversations to devise creative solutions. At the end of the day this is impacting everyone and for how long is a big question mark… it may take a while to re-lease your space.
Relationships Are The Gold Standard
Reaching out to clients and other industry professionals has made it clear that there is a lot of uncertainty and while there are countless “projections” and “predictive models” – at the end of the day, no one really knows what is going on.
The domino of breakdowns being caused by COVID-19 are being felt far and wide… which brings me to my point, RELATIONSHIPS MATTER – given the complexity of the breakdowns and concerns we are all experiencing; you have many allies at your disposal to make more informed decisions in an otherwise uncertain environment. Here’s a few I would recommend reaching out to:
-
-
- CRE Broker
- Landlord
- Tenant
- Property Manager
- Lender/Bank
- Attorney
- General Contractor
- Government Official
-
Concluding Thoughts
These are unprecedented times with the situation changing hour by hour here in the Silicon Valley, let alone the world. It’s easy to get caught up in the finger pointing, the politics, the blame game… but I can tell you with 100% certainty… none of that matters because it won’t address YOUR concerns. At the end of the day, COVID-19 is an uncommon and complex threat to YOU, YOUR family, YOUR employees, my colleagues, my family and myself – it’s a human threat that we all share!
I’m not going to promise you free rent, massive rent reductions, or any other shortsighted tactic – but what I will promise you is an empathetic ear and unique solutions that address your specific concerns today without limiting your room for success tomorrow. Today’s environment will require collective creativity to overcome this adversity and I offer an extensive network of relationships that can be leveraged to source your unique solutions. See below for my contact information if you’d like to schedule an introductory call.
Feel free to Like; or Share if you think this blog could add value to others. For future posts, and to follow along, please visit www.MinnisCRE.com
Until next time…
