transwestern.com 4Q2014 INSIGHTS + TRENDS + OPPORTUNITIES
When 2014 comes to a close, we will have concluded the fifth year of economic recovery
since the end of the Great Recession. Many may ask the question, has it really been five
years? Even though it may not feel like it, that is exactly where we are in this steady, yet
sometimes uneven, economic recovery.
A cornerstone of the current recovery has been investor thirst for “hard assets,” including commercial real estate. The appeal of solid
current returns blended with a physical asset and its potential as a hedge against future inflation has accelerated the infusion of
capital into the sector. Transwestern has worked enthusiastically and tirelessly to distinguish itself as the “go-to” source for many
investors across the country. During this current economic cycle, many exceptional investment realizations have occurred, and in
our view, more are on the horizon.
We as a firm have been working strategically to engineer asset turnarounds, uncover new and compelling opportunities in key
growth sectors, guide our occupier clients’ space initiatives and enhance communication with our customers across the globe.
These efforts have inspired our recent expansion in those strategically selected areas most responsive to the highest priority needs
of our customers.
We realize economists and media outlets alike are not entirely convinced of the resilience of our domestic economy. Global political
turmoil and overly aggressive monetary policies are most often cited as culprits of an imminent decline. We believe, at some point,
they will be correct. At some point, we will indeed experience another economic downturn. But we do not expect that to occur any
time soon. Our view is fortified by what has turned out to be irrepressible corporate financial performance, encouraging job gains
across the country and robust foreign investment into domestic commercial real estate assets.
We are encouraged by what we are viewing throughout the economy in the United States. We agree with the assessment of one
of our partners, Carleton Riser, president of Transwestern Development. When recently asked where we are in the current recovery
cycle, he said, “I believe we are in the sixth inning of an extra-innings game.” We think he is right.
Thanks to each of you for the trust you place in Transwestern. We look forward to staying suited-up for the duration of what could be
an extended ball game.
Robert D. Duncan Larry P. Heard
Chairman President & CEO
U.S. RECOVERY EXPECTED
TO CONTINUE DESPITE
A Message from Robert D. Duncan and Larry P. Heard