“This has been a robust year for our team with record gross sales,” said John Speropulos, president of Mitch Cox Realtor.
Speropulos said the increased volume of transactions is likely due to an uptick in investors’ recognition of commercial real estate as a reliable and stable investment vehicle over time.
“We’ve seen a lot of investment deals this year,” said Speropulos. “Investors aren’t comfortable with where the stock market is, which many feel is volatile and priced too high.”
“However, at the other end of the spectrum, it’s hard to make a decent return with money sitting in banks,” he continued, “Our company has seen a push to put money into brick and mortar, where long term holds provide better yields.”
Speropulos also launched a new personal blog, Speropulos.com, where he plans to cover trends in the Tri-Cities market, such as what’s taking place with an aging population and implications on the community’s workforce.