One of the more difficult challenges when attempting to value a real estate investment property is deciding how to handle upcoming lease expirations. Although lease turnover can sometimes be viewed as an opportunity, it is more often considered to have a negative impact. This is due to the potential risk associated with re-leasing should the existing tenant vacate as well as the associated costs in terms of improvements and leasing commissions for a ...
The Federal Reserve released their most recent report, commonly called the Beige Book, earlier today. Below are the highlights for the 4th District, headquartered in Cleveland. The overall economic growth was characterized as modest, with small increases noted in the manufacturing, construction, freight transportation and business ...
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I just had the opportunity to listen to Hal Scudder, CIO of Phillips Edison (www.phillipsedison.com). Hal was kind enough to give a group of NAI retail investment professionals his view of current trends in retail real estate investment. Phillips Edison is a very active retail investor nationwide and, with their private REIT vehicle, ...
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This month's Financial Strategies column of Properties Magazine is focused on the revolutionary device known as the iPad. Introduced just two years ago, this device has certainly changed not only the consumer electronics world but more importantly, the business electronics world as well. The article discusses some of the most useful ...
Eight times a year, the Federal Reserve Board produces a review of activity among the 12 districts. It is formally called the Summary of Commentary on Current Economic Conditions but is commonly known simply as the 'Beige Book'. It contains a mix of anecdotal and factual comments that are derived from a variety of industry, economic ...
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One of the fastest growing and most popular reality shows on cable TV is A&E's 'Storage Wars'. This series follows four professional buyers as they try to outwit and outbid each other at auctions for abandon self-storage lockers. I find the show highly entertaining. But I also see numerous similarities between the characters on the show and many of the real estate investors that I deal with in Cleveland on a regular basis. To read the entire ...
All in all, 2011 turned out to be a decent year for Cleveland's real estate investment market. The overall sales volume again ticked upward, this after hitting the bottom in 2009. More importantly, last year saw several 'market' transactions occur, which is a great sign going forward. But this isn't to say that there werent' some ...
Most of my rantings involve commercial real estate - who is buying what, how much they are paying, how to figure out how much pay, etc. Rarely do I talk about my actual industry - the commercial brokerage biz. But the new year brings new challenges to this industry and I think change is inevitable, especially for the firms highlighted below:
Grubb & Ellis - You would think that the 12 years that I spent at G&E would provide an insiders ...
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I returned from the holiday break on January 2 a few years back and, during the course of the day, found myself in a co-worker's office. After all of the usual catch-up chatting, I noticed that he had a post-it note affixed to his desk phone base. The post-it note had only one thing scribbled on it: 1,019,000. So of course I had to ask why he had this on his phone. His answer was astoundingly simple - "That's how much I'm going to make this year". ...
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