The coronavirus pandemic has brought some commercial real estate stakeholders together as some create forums to maintain an ongoing dialogue about the impacts companies are facing and best practices being utilized to navigate uncertainties, Adam Mopsick, CEO of real estate advisory firm Amicon Management, tells GlobeSt.com.
Florida-based Amicon has recently created a forum made up of South Florida construction industry executives and business owners. “With things changing so rapidly, we believe there is a tremendous benefit to this communication in sharing information both for clients and business owners. We are all in this together,” Mopsick said.
According to Mopsick, Coronavirus is forcing the industry and the Amicon as a business to find new opportunities and rethink how to best serve clients. “We have a wide portfolio of projects across different market sectors. Obviously, some market sectors, like hospitality and retail, have been hit extremely hard,” he said. “It is our role to come up with creative solutions to provide opportunities for our clients to remain successful.”
Some of the challenges Amicon clients are facing include disruptions in their businesses due to the effect of closures and inactivity. Amicon views this as a unique opportunity for exploring capital improvements, Mopsick said. “Many of our hotel clients are expediting large renovation projects now due to the fact that they will be closed or with low occupancy and minimal guest disruption,” he said.”Our team is actively working with all clients to find cost-savings solutions and schedule improvements that can put them ahead of the surge that will occur when normal activity resumes.”
Surfside collapse changing South Florida’s condo market
11 Ways To Find New Opportunities For Vacant Commercial Spaces
Potential redevelopment for condo buildings
Condo collapse could reshape Miami’s real estate market
What to expect for South Florida’s condos