Why is Proximity of Location so important

By: Larry Feldman

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Larry Feldman: I’ve learned the very hard way not to buy properties in markets that are an airplane ride away, or in far-flung markets that I know nothing about. It has to be in our backyard, on street corners we know, and it has to be a strategic fit.

Ideally, I’d like all of our buildings to be within walking distance from each other. We own three buildings in downtown St. Petersburg, so that’s the kind of thing that … I love the idea of that; that we have such proximity because when we have that kind of proximity, we get efficiency of operation, efficiency of leasing. Our leasing folks don’t have to travel long distances. Our property management teams can come in and focus, and we know every street corner.

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