Block & Company Quarterly Review - 4th Quarter 2023

January 17, 2024

Letter from President David M. Block

Now that 2023 is officially behind us, I'd like to extend my heartfelt gratitude to everyone who has played a pivotal role in Block & Company, Inc., Realtors achieving yet another remarkable year in business. The past year brought forth formidable challenges with the surge in interest rates and escalating costs of new construction. Nonetheless, these challenges unveiled exciting opportunities for our clients to explore alternative investments, leasing, and sale options. Thanks to the dedicated efforts of our sales and leasing brokerage, Block & Company has successfully filled the majority of vacant spaces across our property management and leasing portfolio.

I want to highlight the exceptional professionalism and outstanding contributions from our property management and accounting departments. Despite the challenges in the commercial real estate industry this year, they have risen to the occasion admirably, ensuring our properties are impeccably maintained. The overall landscape of 2023 witnessed a surge in both transaction numbers and individual transaction values. This significant growth has immensely benefited Block & Company's investors and property owners, which is a testament to the hard work of our employees and sales staff. With the anticipation of a reduction in interest rates, the outlook for 2024 appears exceedingly positive, and we are poised for another successful year at the firm. I also see great opportunities for new acquisitions in the coming year.

As always, I'd like to thank all of our investors and clients for their continued trust in the firm. I'd also like to wish everyone a very happy and healthy 2024 year.

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