"Good Morning Newsletter" Realty Growth Inc
When my father started Realty Growth Incorporated in 1978, one of his first orders of business was to create a tagline that separated him from others in his field. The tagline that he created was “Happiness is positive cash flow!” This tagline became synonymous with Ed and Realty Growth and could be found on all of the company marketing material and business cards. It became what Realty Growth was known for; creating happiness for clients through positive cash flow.
Today, we continue to use this simple yet powerful phrase on a daily basis, and see the same results. Internally, our office closed seven transactions, signed six new purchase agreements, signed two commercial leases, and have eighteen pending sales transactions! This type of activity proves the dedication, expertise and knowledge that our agents, brokers and support staff bring to our industry. This also proves that “happiness is positive cash flow” remains true even to this day, as we have been able to provide our clients with lasting satisfaction and performing assets.
From the broader market, sales and lease transactions have remained steady and continued to transact. Our most recent information based on sales done internally and market information from outside sources has shown an average cap rate of around 6%, with a broad range of sales ranging from $800,000 for commercial land to a $10,000,000 sale for an apartment complex. With all of that said, the market in Rochester remains well and strong!
In closing, we want to wish you all a wonderful start to the fall season, and hope that you all are doing well, staying healthy, and maintaining that positive cash flow! Thank you again for all that you do, and we look forward to bringing you all of the latest commercial real estate news.
Nick Pompeian, Partner and Broker of Realty Growth Incorporated