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Updated: The Cap Rate is What?! STNL vs. MTNL Retail

By Josh Markiewicz on November 01, 2012

I recently wrote about the resurgence of retail development in Champaign-Urbana here, but what about the state of retail investment properties?

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This was pretty good.  #Election2012

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Thanks to Charlie Kennedy for sharing this event with us!COMMERCIAL / INVESTMENT MEGA AGENT BOOST (re-boot) ... http://p.ost.im/p/dhP6aX

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Thanks to Gerald LaHay for providing this press release.LEVIN COMMERCIAL REAL ESTATE, LLC IS PROUD TO ANNO ... http://p.ost.im/p/dhU7uW

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Event: KW Commercial Mega Agent Boost (re-boot) Camp

Thanks to Charlie Kennedy for sharing this event with us!

COMMERCIAL / INVESTMENT MEGA AGENT BOOST (re-boot) CAMP

This event is more than a HOW TO… it is a TO DO.

Everything you need, to know…… to DO…. And nothing else!

WHERE:  2 SAN JOAQUIN PLAZA, STE 150,  NEWPORT BEACH, CA. 92660

WHEN:    October 17 & 18 2012 (Wednesday & Thursday) 9:00 AM to 6:00 PM

HOW:      Register here

WHY:     Testimonials to provide insight!

~Your years of commitment to Training  agents and building commercial teams is paying off for many people “   -Buddy Norman, President KW Commercial 

~Anyone who has the opportunity to follow in his footsteps is in for a productive ride, that is a guarantee. -Rand Sperry, Co-Founder, Sperry Van Ness 

~I was Rookie of The Year and made over $100,000 my first year. Without Charlie I wouldn’t be where I am today.”   -John Vorcheck, Regional Manager, Marcus Millichap 

~This was the first time in my 28 years in the business that I had ever seen the Brokers Continuum broken down into such a meaningful outline.             -Jackson Cooper, CCIM, SIOR | Sperry Van Ness

~Listening to you even over lunch is always a learning experience. We look forward to implementing your systems and tools.  -Wolf Baschung, CCIM, Keller Williams- Los Feliz/Downtown  

~I believe many senior agents can use the simple disciplines you teach.  I have sent my agents to your boot Camps & they all come back charged up confident & much more equipped to begin building a successful book of business. -Chris Sands, KW Commercial Director CLC , Santa Monica, CA

Download a .pdf flyer here.

You should follow Charlie Kennedy on Twitter, here. 

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Done Deal: Levin Commercial RE Closes Egg Harbor TWP, NJ Sale

Thanks to Gerald LaHay for providing this press release.

LEVIN COMMERCIAL REAL ESTATE, LLC IS PROUD TO ANNOUNCE THE INHOUSE SALE OF A FULLY  OCCUPIED 30,000+/-SF MIXED USE FACILITY LOCATED AT 3330 BARGAINTOWN RD. IN EGG HARBOR TWP., NJ 08234. SEPTEMBER 27, 2012: Acting in Dual Agency,  representing both parties in the sale, The LEVIN team lead by Joshua Levin, CCIM -Broker of Record and Listing Agents Gerald G. LaHay & Lee Jerome were able to secure a confidential investor for a sale price of $2,650,000.  LEVIN Commercial was instrumental in stabilizing the rental income that ultimately helped facilitate the sale.    This was another  successful REO transaction  for LCRE. Joshua Levin is Atlantic County’s only Certified Commercial Investment Member (CCIM). Gerald is a currently a CCIM Candidate.  They attribute the skills & training received through the CCIM Institute as being instrumental in completing this transaction.

You should follow Levin Commercial on Twitter, here.

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REI Wise Wants to Share Your Deal!

Each month REI Wise will feature a completed deal on their website - Deal of the Month page! To be considered you must be a customer of REI Wise and submit your recent closing or listing as Deal of the Month! Simply email Brendan Erickson with your deal details to be considered!

Here is the current Deal of the Month (October 2012):

REI Wise is the leader in commercial real estate software. The company’s proprietary system offers a complete family of services including investment analysis, leasing analysis, real estate marketing software, and secure virtual deal rooms. REI Wise is proud to serve the needs of more than 10,000 commercial real estate professionals. 

You should follow REI Wise on Twitter, here.

Already an REI Wise customer? Great, Add Your Recommendation, here.

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Event: 2012 IREM Fall Leadership Conference

Contributed by Kenneth G. Block, SIOR, CCIM of Block Real Estate Services an AMO® firm.

Justin Larson to Speak at IREM’s 2012 Fall Leadership Conference, Oct. 16-20 in New Orleans

  [Kansas City] – October 1, 2012  Block Multifamily Group today announced that Justin Larson, VP/Director of Sustainability and  will be a featured speaker at the 2012 Fall Leadership Conference sponsored by the Institute of Real Estate Management (IREM®). The event, to which all commercial real estate managers and allied professionals are invited, will take place from Oct. 16 through 20 at the   New Orleans Marriott, New Orleans, LA. 

According to Larson, the Conference will bring together real estate management industry leaders in a dynamic, interactive forum that examines major industry issues, challenges and opportunities; stimulates idea sharing and leadership development; and, much more.

Justin Larson will be presenting a session on Oct. 18 called “My First Green Project” which will address lessons learned from property level and portfolio wide sustainability initiatives.

Larson is responsible for supervising properties in three states: Missouri, Kansas & Nebraska for BMG.   In addition, he is responsible for the company wide Sustainability program, which includes development of green high-performance operating procedures and policies, program development for staff and residents, and utility reduction strategies and benchmarking. Prior to joining BMG, Justin worked at Bristol Properties, where he experienced all facets of the industry: from on-site porter and assistant maintenance technician, to leasing agent and manager, home office accounts payable, regional supervisor, regional vice president, and Director of Sustainability.

For more information on the IREM-sponsored conference, visit www.irem.org/iflc.

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Daylighting Can Spoil Drugs in Medical Office Design

Contributed by  Richard Neuman of Relocation Management Solutions, Inc.

A  medical client recently relocated from a small, dreary, windowless office to a gorgeous, bright and cheery facility for urgent care and specialty procedures.  A large segment of the clientele receives IV (intravenous) Infusion Therapy and the lengthy treatment requires patients to sit while they drip for several hours. So designing a large, comfortable, bright and pleasant therapy lounge with daylighting capable of accommodating ten patients was an important design element to the doctor.

The design team placed the IV Infusion Lounge against the west windows which have commanding views of downtown Manhattan giving patients who are seated in large comfy lounge chairs a view often reserved for the CEO.  A larger nurse’s and mixing station adorns the back wall also facing west.

An unanticipated consequence of western exposure and daylighting is direct sunlight.  Its UV rays are unwelcome since heat spills in at sunset spoiling the drug fluids sitting out on counters as well as the mixed IV bags hanging on their poles.  The nursing staff had to constantly lower the regular and blackout shades during the day when the shades were intended simply for privacy during the evening. The problem caused the treatment lounge to be dark and gloomy once again which was contrary to giving patients a room with a view while they endured their lengthy procedures.

So what’s a doctor to do?  Our solution was to apply Huper Optik’s Drei ceramic commercial window tint. It rejected heat and UV rays that not only protected the drugs, but allowed the window shades to be open and the room to be used as designed. We are very pleased with the product’s performance.

The following are specs from the sales consultant.

VOC free nano-ceramic window films that increase performance of existing glass

100% dye-free and metal-free films – no demetallisation from corrosion or discoloration from fading dyes

Films block up to 98% of Infrared light – the main cause of heat

Films block more than 99% of UV light – the main cause of fading

Films are applied to existing single and dual paned glass

Reject the unwanted solar heat gain while allowing the desired visible light transmission

Use of films allows for significant reductions in embodied energy over full window replacements

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What Is the #CRE Business About?

Now, why would we write a blog post to tell some of the brightest minds in commercial real estate what the commercial real estate business is about?

Simple, because we all need to remind ourselves what we are doing and since this is a blog post, which is public, educate the public as to exactly what we do.

Another reason for the reminder is that many of us work independently and need a little rah, rah once in a while to get us going! Everybody needs a coach or cheerleader so we aim to give you a pep talk right here in this blog post!

We start out with --- Go team!

Okay so the entire reason that anyone would ever consider hiring you is because you should be doing everything in your power to sell, lease or manage their asset and to maximize value. As we all know and need to remind ourselves, our clients want the highest return possible in the marketplace or to find the best value, or if leasing to find the most suitable tenant.

So the theme of our industry is maximizing value + marketing/promotion + technical expertise such as property management or even project management, which is another discipline many of us execute, like we breath air.

What makes our industry so darn difficult is the fact that everyone thinks they can do our job, and in some cases, do it better than us! Why? Because they own the properties for goodness sake. If they own the property, they have to be smarter and wiser, but just too busy to do it themselves. Well let me set the record straight. If it were easy to do what we do, they would in fact do it!

That needs to be so clear in your mind. That's right. If a client found our job was super easy, they would not need us! However, as we all know, it is NOT easy. The job of bringing parties together to close a deal is extremely difficult. It takes extreme creativity, persistence, organization, follow through, knowledge of financing, zoning, legal and even some accounting, not to mention the market conditions and economic factors.

After you sprinkle in a Phd in psychology and a Phd in politics, it gets obvious what it takes to make deals and close them too! Sometimes it may just be that we make what we do look easy, but we know the pitfalls, risks and let downs that occur on deals that can take months and years to make and sometimes decades, just to have the entire transaction fall apart for any number of reasons.

Deal makers who know what they are doing, are experts as qualifying what deals to work on too! That is an art in itself. There are cre professionals who can see a deal a mile away and they will walk away from a prospective client on a dime if they believe there is no deal to be made. That takes extreme talent and experience!

Now go pat yourself on the back and keep doing what you do best! Be it brokerage, management or leasing, as a famous mentor once told me when I uttered a mumble about how hard a particular task was going to be: "Linda, I didn't tell you it was going to be easy!" and he was right!

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Nick Miner, CCIM Joins Orion Investment Real Estate

Orion Investment Real Estate has brought aboard Nicholas Miner, CCIM, a commercial real estate veteran with 15 years of experience, as the new vice president in its Scottsdale office.

Miner's all around experience in sales, leasing and management gives him an edge on today's commercial market where he focuses on multi-tenant retail investments. 

Miner joins Orion from Commercial Properties, Inc. He began his career at CBRE | Mega in Omaha, NE and later moved to Marcus & Millichap in Phoenix. He has been involved in more than 100 transactions totaling roughly $150 million in consideration.  Miner has served as president of the Central Arizona CCIM chapter, and was elected to the CCIM Institute Board of Directors and CCIM Tech Board of Directors.

You should follow Nick Miner, CCIM on twitter, here.

You should follow Orion Investment Real Estate on twitter, here.

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The 5 Reasons to Systematize Your CRE Business

~Bo Barron, CCIM of Sperry Van Ness | The Barron Group 

Commercial Real Estate Systems.  The word is an anomaly.  While you may not be able to define what a system is – you need them.  You need them badly.  They can make you more effective.  They can make you more money.  They can shave hours off your week – hours you can give to your family or a worthy cause.  Let me share with you what I mean.

I have two sons (and a little 3-year-old princess).  They are both playing football.  Tonight, I was at the 9-year-old’s practice.  As I watched the practice, the coaches spent 80% of the practice putting in the system.  20% running the plays.  Now you know what I mean, don’t you.  Think about a football team.  Every player has a specific role.  They specialize.  My son is the quarterback because he is an intellectual.  He knows where everyone should be.  He also has the smallest butt on the team.  It would be ludicrous to make him a lineman.  His coaches spent 80% of the practice putting in the system because success between the hedges comes from a group of individuals working seamlessly as a team.  The sum can be so much greater than the parts.  Magic!

So should your business be!  Here are the five main benefits to systematizing your business:

Systems allow you to break a process down to its smallest tasks.  This is so important.  This is what I go through with all my coaching clients.  Most leaders…most entrepreneurs…most of you, are big picture oriented.  The details are stifling.  I know they are for me.  The simple act of sitting down with your team and breaking a process down to its most detailed parts has tremendous value.

Systems allow you to lead effectively by delegating.  Huge!  The primary role of a leader is to ensure the success of the team.  To do that, team members must understand their roles.  Once you go through the task of breaking a process down to its smallest tasks, those tasks are delegated to the team member with the most fitting skill set.  You just made your life easier.

Systems allow you to hire/fire better.  This is a no-brainer.  Once you systematize your business, you have a better understanding of the skill sets you need in place.  Think of my son’s football team.  The coaches would have been foolish to draft a team full of little fast guys.  The coach understands the system he wants to run.  So he drafts the same.  Go and do likewise!

Systems allow the team to execute.  This is where you see your team come to life.  The system is in place so just execute.  This allows for efficiency and speed.  If you don’t get the results you want, change the system.

Systems allow the leader to focus on high dollar activities.  From my chair, this is the greatest benefit of systematizing your business.  When your team knows the play and their roles, then the leader can focus on just the things that only the leader can do.  This is the sweet spot.  This is where you can see exponential growth.  You should have goose bumps right now.

So join the conversation.  What processes in your business could you systematize?  How would you do it?