Once again, one of the most important foundations of commercial real estate, should be carefully examined, re-examined and up-dated, property-to-property.
The "Highest and Best Use" of a commercial property can, and often times, does change, dramatically over short period of time.
When the the last time you "carefully" reviewed the most recent zoning by laws?
Before being concerned with "value," or "vacancy" I recommend as a first step to perform a professional highest and best use study and analysis of each and every parcel of commercial real estate.
Remember such an undertaking requires considerable time, effort and lots of know-how. I don't recommend the "Do-it-yourself-approach."
Bill McInerney
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