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SEPTEMBER 20, 2011

IT'S NOT THE SIZE OF YOUR ASSETS, IT'S HOW YOU LEASE THEM

- The Commercial Observer's The Owners Magazine


Featuring Abraham Hidary on reducing costs and offering tenant incentives

"You need to work harder, but more importantly, you need to work smarter," says Daniel Blanco, the COO and co-principal of Broad Street Development. "When the market is bad, you got to respond. Be smart: if there's less money to spend you drop rents - it's pretty simple."

While Mr. Blanco's instruction seems to be a simple one based on simple logic, he is apparently preaching a gospel perhaps germaine to smaller-scale commercial landlords like himself. They have to pivot quicker when it comes to rents and tenant incentives, operating as they do among giants like SL Green and Vornado, which literally tower
above them.

 

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2011-September