Real Estate Revival

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From the Desk of the Editor in Chief

The words “real estate” and “disaster” often have been uttered in the same sentence in recent weeks as the upheaval in the financial system has impacted across global markets.

But, believe it or not, we think there are some good reasons to embrace optimism in these gloomy times.

The three initiatives featured in this month’s cover focus remind us that the fundamentals of successful commercial real estate development remain unchanged—and that those who apply them will be rewarded.

These fundamentals are being put to work by Kodak to transform its original production site in upstate New York into a blossoming 800-acre commercial/industrial complex called Eastman Business Park. Kodak is leveraging assets built for large-scale film production—including its own power supply—into a powerful magnet for a wide range of business enterprises.

Studley gave us an inside look at the intricate negotiations that resulted in a new West Coast facility for Fox Interactive, parent of MySpace. Creativity, flexibility and business smarts all were put to good use to bring a successful project to fruition.

And Group C Media, Inc. is applying its successful matchmaking formula to the real estate services sector in a new event, Commercial Property Navigator LiveXchange.

This is our way of saying that, while present indicators may be pointing down, this, too, will pass. We prefer to look up.

Jack Rogers
jrogers@groupc.com

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