“We’re still closing transactions. Our CEO just sent us an email saying we’ve closed 11 deals this week,” said James Davis, executive vice president of NAI Robert Lynn. “There’s definitely a slowdown, but prior to this, activity was off the charts. There was so much demand. I heard a little stat from our accounting department recently that said our office has done 128 office transactions since Jan. 1. In February, our office closed 99 transactions. We were still seeing this high demand three weeks ago.”
Davis and other real estate experts say deals that have not gone through fall into three categories. The first involves companies with an immanent demand that have decided to hold off temporarily. The second group includes companies that don’t have an immanent demand and have decided to hold off indefinitely.