August 30th, 2010
From Tom Vincent, CCIM | Chicago, IL - Please take a look at our latest edition of the Sentinel eNews. In this issue:
- Latest Whitepaper | Thriving, Not Surviving In Commercial Real Estate
- Active All-Cash Buyer Seeking Properties
- Featured VIDEO | Commercial Real Estate Bargain Hunters
- Whitepaper | Going Green To Get The Green
- Featured VIDEO | Getting Commercial Real Estate Guidance
- Featured Article | Commercial Real Estate Pipeline Opening Up
- Featured Investment Opportunities
- Resource Corner: Useful Links
- About Tom Vincent, CCIM
Tags: advisor, assets, broker, buy, chicago, commercial, economy, in the news, investing, investment, investor, lending, marketing, newsletter, office, opportunities, real estate, Retail, sperry van ness, tom vincent
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August 27th, 2010
Click HERE to listen to the Commercial Real Estate Report for 8-2-10!
Bob Clark, News Radio 770 KKOB: Walt, you wanted to start with the industrial market, what is the latest with Industrial real estate.
Good morning Bob. There was a little rally in the industrial leasing market, unfortunately, it has reversed its trend and vacancies are heading upward again. The hardest hit buildings are the older buildings that have some functional obsolescence, a real estate term for old, and flex buildings which are used for research and development.
Vacancies have climbed from 8.6% to 9.1% in the second quarter; this is still less than the high of 11.2% in 2005 so hopefully this is a temporary event.
There were a couple of vacancies that affected the industrial lease market; one was Express Scripts vacating 71,000 feet at 4500 Alexander. The Wildfire TV series lease expired in Rio Rancho at the Fulcrum building and that brought 68,313 square feet on to the market.
Bob: What are industrial spaces leasing for in this market?
Unfortunately we have seen a substantial drop in rental rate since 2008 and the overall average asking rate is around $5.60/sf/yr. Downtown rates are under $4/sf/yr which is substantially lower than the north I-25 rates of $6.33/sf/yr.
Bob: What else do you have for us today?
I wanted to comment briefly on a Data Digest report that came out last week. The good news is that on balance economic activity continues to increase. Unemployment rates were lower in about half of the metropolitan areas tracked by the report, unfortunately, many areas were up in unemployment.
This is a preview of Commercial Real Estate Report 8.2.10: Industrial Markets & Data Digest . Read the full post (500 words, 1 image, estimated 2:00 mins reading time)
Tags: albuquerque, commercial, construction industry, cre, demand, economy, for lease, industrial, investment, investors, leased space, listings, market, market report, New Mexico, opportunities, property management, radio show, real estate, rent rates, sperry van ness, unemployment, vacancies, walt arnold
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August 25th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - CRE prices continue to fall, with retail suffering more than other sectors. Ripple effects will continue to be felt, as many current owners want to sell this year, due to higher tax rates after 2010. With so many properties coming to market, one would assume continued downward pressure on prices. From Bloomberg.com:
U.S. commercial real estate prices fell the most in almost a year in June as the economic recovery showed signs of faltering, Moody’s Investors Service said.
This is a preview of Retail Spaces Lead Drop in U.S. Commercial Property . Read the full post (247 words, 1 image, estimated 59 secs reading time)
Tags: commercial, Commercial Real Estate, cre, economic forecast, economy, investors, market, market reports, Moody's, national, prices, real estate, reports, Retail, unemployment
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August 19th, 2010
From Walt Arnold, CCIM, SIOR | Albuquerque NM
Click HERE to listen to the Commercial Real Estate Report for 7-26-10!
Bob Clark, News Radio 770 KKOB: Walt, if I needed to hire a commercial real estate broker, what skills and abilities would I look for in that person?
Good morning. Commercial real estate is so different from residential real estate and there are just so many more moving parts to the commercial business which includes office, industrial, retail, hospitality, self storage and apartments. There is the investment side; the owner user and also the leasing end of the business and each have their own intricacies. So first off you would want to make sure the broker is an expert in the field of commercial real estate you need. That is the first criteria.
Bob Clark: What else is important in selecting a commercial broker?
Having a level of experience which might include membership in either the CCIM Institute, which requires years to complete the certification process or an SIOR, a select group of 2,800 commercial brokers worldwide is an important component in selecting a broker to work with.
At Sperry Van Ness we talk about having encyclopedic market area knowledge and stress being the recognized expert in the market area. Someone looking for a broker wants to make sure they understand the market and have strong knowledge of it.
Another important trait is a broker that listens to your needs and assesses those needs and then works diligently to complete the transaction and keeps everyone apprised of the progress as it moves toward the completion
Bob Clark: Walt you have talked before about all the parts of the commercial transaction, how can a broker help put it all together?
There are many parts to the puzzle of a commercial transaction and making sure your Broker understands those pieces, like the ALTA survey, Phase One environmental report, space planning, financing, the lease document, the Tenant Improvement process including TI drawings dealing with architects, contractors, attorneys, owners and tenants requires someone with many skills to help analyze the commercial transaction from start to finish and beyond.
This is a preview of Albuquerque Commercial Real Estate Report 7.26.10: Hiring A CRE Broker . Read the full post (524 words, 1 image, estimated 2:06 mins reading time)
Tags: albuquerque, broker's opinion of value, commercial, cre, economy, for lease, for sale, industrial, investments, leased space, listings, New Mexico, office, office market, opportunities, property, property management, property values, radio show, real estate, Retail, sperry van ness, tenant representation, walt arnold
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August 19th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - From the blog of our President and CEO Kevin Maggiacomo, Sperry Van Ness announces it’s ardent use of social media across the board, and it’s working. It a recent video produced by the company, SVN brokers around the country share testimony after testimony about getting ahead of the competition and closing deals by marketing themselves and their listings using social media. Kevin writes:
Social Media and Commercial Real Estate – while some say the two don’t mix, I say they’re flat wrong. I’ve been evangelizing the innovative use of technology and digital media in commercial real estate on this blog since day one. While I normally don’t use this forum to tout the company, I’m making an exception for this post.
The video above simply validates what I’ve been saying for quite some time, which is that social media and commercial real estate fit like hand-in-glove. Yes, I know it’s difficult to believe, but it’s true – there are still naysayers who decry social media and its effectiveness – they just don’t exist at Sperry Van Ness. We have won listings, received media exposure, broadened and deepened relationships, and yes, we have closed real deals with social media. While some of our industry peers play the skeptic and hold on to the past, we embrace the demands of the market and look to the future.
Tags: buyer, commercial, Commercial Real Estate, cre, investors, lenders, market, marketing, national, properties, real estate, seller, social media, sperry van ness, transactions, video
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August 16th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - According to Costar, more and more money is being attracted to real estate investment funds. When enough of these cash-flush buyers think the bottom has been reached, a buying frenzy may ensue.
Real estate companies and funds reported raising $3.85 billion in July for real estate-related acquisitions. Almost half of the total raised ($1.85 billion) was by commercial real estate-related firms and funds, while pooled investment funds including private equity and hedge funds raised $1.8 billion, according to data compiled by CoStar Group.
This is a preview of Large amounts reported raised or pooled for CRE investments last month . Read the full post (147 words, 1 image, estimated 35 secs reading time)
Tags: assets, banks, buyer, capital, commercial, Commercial Real Estate, cre, economy, financing, fund raising, investment funds, investors, market, national, real estate, reports, transactions
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August 13th, 2010
From Sperry Van Ness Accelerated Marketing | John Johnson, CCIM - The Motley Fool reports that there are strong signs that the CRE market may have finally hit bottom. Deal volume is increasing as investors, and pools of investor funds, are looking to put idle cash to work in something that yield better than investing in treasuries. Even though banks are still holding significant amounts of CRE on their books, and much more is still hanging out there in non-performing loans, Fool sources indicate that equilibrium may have been achieved.
This is a preview of Can “Delay and Pray” Save Commercial Real Estate? . Read the full post (193 words, 1 image, estimated 46 secs reading time)
Tags: assets, banks, buyer, commercial, Commercial Real Estate, crash, cre, deals, defaults, economic forecast, economy, financing, foreclosures, investors, lenders, loans, market reports, national, properties, real estate, reports, transactions
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August 12th, 2010
To quote from the Times article tells us:
“The plan to put Freddie Mac and Fannie Mae into conservatorship was meant to be temporary.
But nearly two years later, Treasury Secretary Timothy F. Geithner has only just begun the process of figuring out how to overhaul the U.S. housing finance system.”
This is a preview of Freddie Mac Requests Additional $1.8 Billion From the Fed . Read the full post (161 words, 1 image, estimated 39 secs reading time)
Tags: crash, defaults, distressed, economic forecast, economy, Fannie Mae, Fed, financing, Freddie Mac, lenders, loans, market, national, reports
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August 11th, 2010
JPMorgan Chase & Co. recently announced plans to open at least 35 branches in the area over the next two years, while Regions Financial Corp. is touting efforts to recruit bankers from competitors as it plans to move into a new regional headquarters building downtown. Countless smaller banks are increasing their presence, too, by buying failed banks from the Federal Deposit Insurance Corp.
Tags: atlanta, banks, economic forecast, economy, Fed, foreclosures, investors, John Johnson, lender, lenders, market, market reports, national, projections, real estate
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August 9th, 2010
From Walt Arnold, CCIM, SIOR | Albuquerque NM -
>>> Click HERE to listen to the Commercial Real Estate Report for 7-19-10 <<<
Bob Clark, News Radio 770 KKOB: Walt this is such a difficult environment in commercial real estate, do you have any advice on how to navigate this market.
Walt Arnold: Bob, this is a commercial landscape seen for the first time. We are in an extremely tight credit market, strict regulations from the feds on lending, high unemployment and many financial constraints on companies.
This is a preview of Commercial Real Estate Report 7.19.10: Market Resources . Read the full post (485 words, 1 image, estimated 1:56 mins reading time)
Tags: acquisitions, albuquerque, asset, banks, commercial, cre, Distressed Assets, economy, for lease, for sale, industrial, investment, investors, leased space, listings, market report, New Mexico, office, opportunities, property, property management, radio show, real estate, recession, Retail, sperry van ness, tenant representation, walt arnold
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