I had lunch today with an executive from a major property developer/manager. They don’t operate nationally but they do operate in about 25% of the nation. Knowing the challenge in the construction markets and the low occupancy rates I was surprised to hear him say they were doing well.

He went on to tell me their occupancy rates will go up several points this year while competitors are losing tenants. I asked him how they were doing it. The overall market is a challenge but they are able to make things happen. He attributed their current success to a strategic plan developed five years ago (when business was really good) that has enabled the firm to remain very strong. A clearly communicated plan with strong leadership goes a long way.

A while back I wrote about a bunker mentality that many people had. They are on defense but you cannot win that way. This firm is on offense and they are winning. The economy is not an excuse for them it is an opportunity.

Great lesson for all of us.

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