2017 Annual Review: Chris Norwood of NAI Norwood Group

What was your greatest professional accomplishment in 2017? Our team’s greatest accomplishment this past year was being part of some exciting repositioning of large big box retail. From the disposition of former Walmart’s in Southern NH to the redevelopment and leasing of a former Lowes along South Willow St. in Manchester, NH; it has been fun to watch the changing retail landscape and how owners and users are taking advantage of the changing face of retail.

What was your most notable project, deal, or transaction in 2017? A series of deals for the State of NH, whom we represented. 1234 River Rd. in Manchester was a public asset that was brought out for sale and 72 Range Rd. in Windham was a land parcel that the DOT disposed of. Each had their own challenges and it is exciting to work for the State.

What are your predictions for commercial real estate in 2018? Even with tax reform on the horizon, and the potenital impact (good and bad) that may cause, there is good reason to believe 2018 will continue to be strong. So long as interest rates remain low there will be a strong tail wind particularly on investment assets. I see reason to believe that we will be in a landlord/seller market for the near forseeable future as it relates to rental rates and sale prices. Beyond that we are likely to see some sort of correction (perhaps large, perhaps nominal) but we do not yet know what form it will take.