The Commercial Real Estate Top is IN...trust the Bathroom Indicator.

I have great office space in Phoenix. My friend (a lender) grants it to me as long as I wear socks. I don’t. I WON’T!

We share the 10th floor with Cushman Wakefield a big Commercial Broker. After a Starbucks, I have my jaunt to our shared bathroom on the floor. It has been getting more crowded. I have suggested a schedule of sorts. Not well taken.

Maybe it’s that I am prone to walk into their huge staff meetings with a pad and paper and fake like an employee. It’s the Costanza in me.

Back to the point…The bathroom indicator is flashing RED.

The bathroom is overflowing with agents. Throughout the last three years as people talked of a bubble I never got that feel. The Cushman people are pro’s and they never seemed too giddy.

Now that I am sharing the toilets with 50 new young guns, I am changing my tune.

There will be some good prices on leases in the next few years. Keep you powder dry, the leases short and your personal guarantees in your pocket. If you have to lease something now, squeeze (no pun intended) together and don’t overextend.