Sandra Corrigan

SRSA Commercial Real Estate

Sandra Corrigan

Director of Office Leasing
SRSA Commercial Real Estate

SRSA Commercial Real Estate is a boutique company offering commercial real estate and property management solutions. Half of the company’s agents are tenured professionals with decades of experience, and the other half are aggressive future superstars. Most notably, SRSA Commercial Real Estate won the NOMAR “Deal of the Year 2023” for its work with the Fox 8 TV station to sell its building on South Norman C. Francis Parkway to Xavier University and assisted them in purchasing their new home on Howard Avenue for a total value of $15 million.

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What are you most excited about in the coming year? I am excited to see an emerging workforce of young agents that bring new energy and spirit to this industry. There are no more than 50 active, full-time commercial real estate agents in New Orleans, and I know of at least 11 who have fostered their own children into the industry — my own son and daughter are included in this group. I believe this is evidence of our agents’ appreciation for the career they’ve developed, and their enthusiasm for a bright future for commercial real estate.

What is the biggest challenge facing your industry today? Our industry, like many, is facing some of the toughest hurdles we’ve seen in almost 20 years. Landlords are experiencing steeper interest rates, tighter bank lending and hefty insurance premiums. This trickles down to the tenants in the form of higher rents. Paired with a growing trend of work-from-home jobs, these factors have increased office vacancies and led to less leasing in general.

While this may be worrisome, it also offers interesting opportunities if we can be resourceful. There is a place for aggressive purchasers looking to capitalize on reduced values, and we have seen an uptick in creative use of office space, such as arrangements for co-working or co-tenant spaces. We also see many companies purchasing office buildings to secure a home for their organization long-term. In my 40 years in this industry, I’ve weathered the ups and downs that arise every decade or so. I believe that this, too, shall pass if we can stay positive, roll with the punches and continue to be creative about how we all do business in this city.

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