Brian Gordon Quotations

We're looking for demand to continue to stabilize as projects move forward. It is slowing down, there's no doubt about it.

We've seen a tremendous amount of interest in that sector of the office market. It's driven by a few things, including rising development costs.

Your soul needs a Lover more than your floor needs carpet.

Fundamentals in the gaming sector remained relatively healthy during the first quarter.

The industrial real estate market completed one of its strongest demand cycles in history as several factors ignited the fire. For projects coming on line in 2005, record-low interest rates during the design phase 12 to 18 months prior provided additional incentive for development and absorption.

Only 35 to 40 percent of future projects are expected to move forward by 2010. There is insufficient market demand to absorb all of the units currently in the development pipeline.

Plus, (MGM Mirage) is enjoying corporate efficiencies as part of the merger -- eliminating duplicate positions and integrating the different brands into the MGM (Mirage) operation.

Given the cost of raw land, density is the key to viability. It is not out of line what you are seeing in other developments.

From a development standpoint, the perceptions of the market are as important as the economics, and any activity to promote the industry is probably important to alleviate market concerns.

It appears that interest in the sector has boosted stock performances, which are not necessarily tied to fundamentals.

Reservations don't equal sales. There are several investors placing refundable deposits on multiple projects around town. But when it comes time to sign the contract, they will often re-evaluate their selection.

Stable demand and rising land values have placed upward pressure on pricing resulting in a 14.4 percent increase in average asking rates in only six months. With robust sales activity and mom-and-pop operators seeking expansion opportunities, we believe there is room for additional increases in newly constructed retail centers.

National consumer confidence levels continued to climb through the end of April. The tourism-related sector posted reasonable gains in total visitation during the past three months.

Most of the films we show this is the only chance you'll get to see them on the big screen. Some may end up on TV and some will end up on cable, but here?s the chance to experience the film the way it was meant to be seen.

We continue to see above-average rental rate growth in the speculative sector, while rising land and construction costs will continue to drive rates north. While the supply-side is facing record development costs, the demand-side of the equation is supported by the third-fastest growing segment in the local economy, professional and business service office users.

We don't know yet how all that has happened in Mississippi really affects the company's balance sheet.

We didn't get a lot of hits. We ran into a very good pitcher. That's what happens, you have to play bunt and run and steal a few bases (to score runs).

We believe that apartment rent growth will range from 8 to 10 percent by the close of 2005. Rising home values, flat to modest increases in personal incomes and a lack of new inventory all point toward continued growth in rental rates.

You cannot give good teams like Troy 26 or 27 outs. These guys are all hard workers. They all love the game.

Wow, what a tremendous performance, particularly compared with the previous year,

Those projects with an extended sales period have higher development risks given the increased potential for rising construction costs. Those projects with experienced, well-financed development teams as well as strong locations and good branding are more likely to succeed.

Through the first half of 2005, supply and demand has remained in relatively stable balance. However, compared to historical activity levels, the amount of space completed this year has been somewhat modest, but we expect the pace to quicken during the second half of this year.

We simply cannot expect land prices to escalate at 80 percent per year while rents for office, retail and apartments are increasing in the 8 to 16 percent per year range.

Visitor volumes continue to press forward, while consumer spending is holding its ground. We estimate spending on gaming, lodging, dining and retail items posted healthy gains ranging from high single-digits to low double-digits during the first quarter of 2006.

Developing a critical mass at that site is paramount. The project is not going to capture foot traffic like we see in properties on or adjacent to the heart of the Las Vegas Strip.

A lot is going to depend on their level of insurance coverage and the impact of what it will take to re-enter that market.

They haven't disclosed their long-term impact, frankly, because they don't know it yet. It's an unknown timeline for redevelopment right now.

There's a lot of speculation and a lot of investment activity going on in the vacant land market here and that drives prices north. There's concern over the lack of developable land so they're willing to pay premiums. Residential developers are looking to acquire as much land as they can to feed their pipeline for future development.

Asking rents are going to continue rising in 2006 and beyond due to the increased cost of development. This is another example of a developer being required to shift design plans to meet the current economic conditions of the construction industry.

It was a very tight game. It was just 1-0 going into the sixth and they tied it up. They got a little sloppy in the eighth inning and we stretched it out a little.

It really comes down to the dollars and cents of the transaction. There's a cost-benefit analysis that's run on each one of these properties.

For employers to maintain a quality workforce, they are going to be required to provide a wage level commensurate with the local environment.

Despite above average market expansions through the first quarter of 2006, the office sector held its ground as demand nearly matched new supply. The amount of space that came online during the current quarter matched last year's record-setting quarterly average, and was well above the nearly one-half million square feet quarterly average posted during the past decade.

The numbers we're looking at represent phenomenal growth rates, not likely to be duplicated in any other industry.

It's a mature market area that hasn't seen a lot of new investment. The low vacancy rates are being driven by a lack of new inventory and relatively strong densities. As a result, new retail centers are performing well in the area.

It's an experienced group, particularly in the gaming sector. They understand the market.

Any time you talk about rising costs for certain necessities it is a cause for concern. It's particularly difficult for seniors who are on tight, fixed incomes.

The lack of availability has the industrial sector experiencing a feverish pace of transactions, similar to the residential sector 18 months ago. We have seen the sale of selected industrial buildings achieve per-square-foot pricing witnessed in the office sector just one year ago.

If you look at the year as a whole, we're still seeing reasonable year-to-year growth rates.