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Sacramento, CA | 2014 Top CRE Markets to Watch : Office

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Office Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP OFFICE MARKET TO WATCH : Sacramento, California

bridge-67773_1280The economic recovery in California’s capital city has lagged those in Los Angeles, Phoenix and other markets that it has followed more closely in the past. The jobless rate ended 2013 at 8 percent, better than the statewide rate of 8.3 percent, but Sacramento hasn’t yet recovered the number of jobs it lost in the last recession. An office vacancy rate in the middle teens has been falling slowly and began 2014 down about 300 basis points from its peak in 2011. Mildly positive absorption over the past two years contributed to a bottoming out in rental rates in 2013 and the beginnings of a turnaround in rent levels in early 2014. Developers have shown restraint in adding new supply, and fundamentals should improve incrementally this year. While its slow job growth elevates risk, Sacramento offers investment opportunities at higher cap rates than are available in many California markets experiencing a more rapid recovery.

To read more on Sacramento, and other top office markets, download the full version of the Top Office Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
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Commercial Real Estate Trends to Watch

Richmond, VA | 2014 Top CRE Markets to Watch : Office

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Office Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP OFFICE MARKET TO WATCH : Richmond, Virginia

RichmondHiring that pushed Richmond’s jobless rate to a post-recession low of 5.2 percent in December 2013 also fueled brisk absorption of office space during the second half of 2013. The citywide office vacancy rate, which peaked at more than 24 percent in 2008, has returned to single-digit territory after years of methodical recovery in the market. Even in the central business district, where vacancies increased slightly in the early quarters of 2013, the supply of available offices tightened in the second half of the year. Rents have been flat for Class B office space, but average Class A rents have climbed above $20 per square foot and will likely go higher by the end of 2014. Office buildings downtown and in Northwest Richmond are outperforming the overall market, largely at the expense of landlords in the southwest, who have been losing tenants. Nearly a half million square feet of new space under construction, mostly in the CBD, will do little to undermine the current trajectory. Value-add investors are more likely to find bargain pricing in the southwest.

To read more on Richmond, and other top office markets, download the full version of the Top Office Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandon-Office-CoverOffice Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Apartment Trends and Markets to Watch
Commercial Real Estate Trends to Watch

Seattle & Tacoma, WA | 2014 Top CRE Markets to Watch : Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP INDUSTRIAL MARKET TO WATCH : Seattle and Tacoma, Washington

seattle-416065_1280Seattle’s port handled 3 million TEUs of containerized cargo in 2013, placing it among the nation’s top five ports for finished goods. The port is PPMX-ready, meaning it has the required channel depth and cranes to handle the largest, fully loaded cargo ships that will be in common use following the reopening of the expanded Panama Canal in 2015. The nearby Port of Tacoma, too, has been PPMX-ready since 2011, after having dredged its channels to the necessary depth and adding massive gantry cranes. Tacoma’s containerized cargo volume has surged to more than 1 million TEUs per year as a result, and helped to fuel additional demand for industrial space. Falling market-wide vacancy is nearing 5 percent and demand for space is generating build-to-suits as well as accelerating absorption, which spiked to 1.5 million square feet in the fourth quarter of 2013 alone. The market added more than 1 million square feet of new space in 2013 and has more than twice that amount under construction. A strong employment base, rooted in energy and technology and enjoying a boost in aerospace manufacturing, has helped Seattle to more than recover the number of jobs it lost in the Great Recession. Projected household growth near 5 percent bodes well for the market’s distribution centers. While the newly refitted Port of Tacoma is expanding its market share of cargo traffic, Seattle is also feeling increased competitive pressure from Prince Rupert, a Canadian seaport in British Columbia that is also PPMX-ready following recent upgrades to its facilities.

To read more on Seattle and Tacoma, and other top industrial markets, download the full version of the Top Industrial Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Industrial Trends and Markets to Watch

Retail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

 

 

 

Inland Empire, CA | 2014 Top CRE Markets to Watch : Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP INDUSTRIAL MARKET TO WATCH : Inland Empire, California

Inland EmpireDemand is mushrooming in this vital industrial market. Companies absorbed nearly 15 million square feet of space in 2013, almost double the roughly 8 million square feet of absorption in 2012. Construction introduced almost 6 million square feet of new supply in the past year, and another 16 million square feet are nearing completion in 2014. Users have already committed to more than a third of the buildings currently under construction. The Inland Empire’s vacancy rate of a little more than 4 percent, although tight, offers greater flexibility and lower average lease rates than users can find closer to the ports of Los Angeles and Long Beach. Developers are depending on those competitive advantages to help lease the tremendous volume of new space in the works. As new projects come online, however, the average lease rate of will increase, narrowing the rent rate differential that has helped to offset the added cost of transporting shipped goods between the ports and distribution centers in the Inland Empire.

To read more on Inland Empire, and other top industrial markets, download the full version of the Top Industrial Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Industrial Trends and Markets to Watch

Retail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

 

 

 

Phoenix, AZ | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : Phoenix, Arizona

phoenix-lake-489023_1280Phoenix’s jobless rate fell to 6.2 percent at the end of 2013 from 6.8 percent a year earlier, driven by gains in financial services, construction, insurance and healthcare jobs. Already one of the fastest-growing cities in the nation, Phoenix will see its population expand by more than 2.4 percent in 2014, with a commensurate rise in retail sales and even greater demand for retail space. Overall vacancy fell to near 10 percent in late 2013 in a year when retailers absorbed approximately 3.5 million square feet of new retail space, far outpacing construction that added roughly 1.5 million square feet to the market in that period. Three years of positive absorption will likely bring rental rates to an inflection point in 2014, ending a protracted decline as landlords gain greater pricing control. Already a strong market for discount and necessity retailers, Phoenix’s growth in high-paying professions will fuel sales for middle- and high-end retailers in the years ahead.

To read more on Phoenix, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Retail-CoverRetail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

 

Oklahoma City, OK | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : Oklahoma City, Oklahoma

downtown-188848_1280Oklahoma City’s retail real estate fundamentals are curiously fragile for a market with strong job growth. The metro area has created jobs in numbers well in excess of those lost during the downturn, and although the jobless rate showed volatility in 2013, the rate stood at 4.8 percent in December, one of the lowest in the nation. Retail space absorption is improving, registering stronger results in 2013 than in 2012. That annual gain masked a poor third quarter in which retailers gave back more than 100,000 square feet in neighborhood shopping centers. Mall vacancies have come down from more than 30 percent in 2012, but roughly a quarter of mall space remains dark, and single-digit lease rates at those properties are the lowest of any retail product type in the city. A drawback to the city’s low unemployment rate is a limited labor pool that has hampered corporate growth and recruitment of new employers, contributing to the slow recovery in retail. Job growth should top 2.2 percent in 2014, however, and with above-trend annual population growth of 1.6 percent, the metro has good prospects for increasing retail demand.

To read more on Oklahoma City, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Retail-CoverRetail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

 

Louisville, KY | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : Louisville, Kentucky

LouisvilleThe retail hub for a 16-county region, Louisville is slowly recovering from the downturn with employment growth that exceeds Kentucky’s overall performance but lags the national average. The market’s year-end employment rate was 7.5 percent, down from a peak of 10.5 percent in January 2010. In 2013, Cabela’s opened an 88,000 square foot store in the Old Brownsboro Crossing development, alongside Norton Brownsboro Hospital, Lowe’s and Costco. This year, Horizon Group Properties and CBL & Associates will open The Outlet Shoppes of the Bluegrass, an outlet mall in Simpsonville on the eastern edge of the Louisville metro. Downtown Louisville welcomed six new retail shops last year and will soon join in the renaissance of mixed-use development taking shape across the nation: a $261 million development in the CBD will bring a 600-room Omni convention hotel, 200 apartments, retail shop space and an upscale grocery. Across the market, healthy absorption at neighborhood retail centers has offset negative absorption in most other retail property types. Completion of new projects in 2013 increased overall vacancy slightly, but the vacancy rate remained in the single digits at year-end, with no major space in the pipeline other than CBL’s outlet project. The slow pace of absorption may not call for large-scale retail construction in the near term, but Louisville offers numerous opportunities to meet existing pockets of unmet demand with infill, value-add plays. Louisville will get a new four-diamond hotel along with a much-anticipated downtown grocery, retail shops and 200 apartments under a $261 million downtown development plan announced by Mayor Greg Fischer and Governor Steve Beshear.

To read more on Louisville, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Retail-CoverRetail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

 

Los Angeles & Long Beach, CA | 2014 Top CRE Markets to Watch : Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP INDUSTRIAL MARKET TO WATCH : Los Angeles and Long Beach, California

long-beach-198911_1280Moves by two shipping companies from the Port of Los Angeles to the Port of Long Beach in late 2012 contributed to an 11.3 percent year-over-year increase in cargo traffic at Long Beach in 2013, while LA’s volume for the year declined by only 2.6 percent. The twin ports have invested billions of dollars in capital improvements to avoid losing shipping volume to East Coast ports following the opening of the expanded Panama Canal in late 2015. Nearer on the horizon, the West Coast longshoremen’s labor agreement will expire in June 2014, bringing elevated risk levels for port-related industrial users until the sides forge a new agreement. Nearly four years of positive absorption have filled portions of the Los Angeles Basin industrial market, with a vacancy rate of less than 3 percent in the San Gabriel Valley, Central L.A. and the South Bay submarkets. Other submarkets offer only slightly more vacancy, with Orange County topping the list at just over 4 percent. Average rents have been on the rise since the first quarter of 2011 and now top 50 cents per square foot in most submarkets, with landlords in the South Bay and Orange County quoting rent of 60 cents or more per square foot. More than half of the developed space in Los Angeles County and Orange County is 20 years old or older, creating some redevelopment opportunities, while a dearth of large, Class A distribution buildings is accelerating rent growth for that segment. Development activity is brisk with more than 20 million square feet under construction, but is unlikely to fully satisfy the growing demand for industrial space due to the limited availability of buildable sites and a faster pace of absorption.

To read more on Los Angeles and Long Beach, and other top industrial markets, download the full version of the Top Industrial Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Industrial-Cover

Industrial Trends and Markets to Watch

Retail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

 

 

 

Houston, TX | 2014 Top CRE Markets to Watch : Apartment

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Houston, Texas

houston-499802_1280Houston’s multifamily market has been on a two-year high—and lenders are ready to take it down a notch. Construction will add nearly 11,000 units in the Energy City by the end of 2014, more than 6,000 of which will be in a handful of high-end urban submarkets, growing inventory in those neighborhoods by more than 6 percent. With the remaining 5,000 or so units to be completed elsewhere in the city, however, the overall vacancy rate of about 6 percent is unlikely to shift appreciably until 2015 or beyond, and remains low for this market. Houston’s appetite for apartments is growing nearly twice as fast as the pace of construction, which is expected to add 10,000 units annually in 2015 and 2016. Nevertheless, some lenders concerned over the recent volume of development in Houston have tightened underwriting for construction loans, which could create a competitive advantage for investors with other sources of capital.

To read more on Houston, and other top multifamily markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Apartment-CoverApartment Trends and Markets to Watch
Office Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commercial Real Estate Trends and Markets to Watch

Florida Tech Corridor | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : Florida Tech Corridor – Orlando to Tampa

florida-67890_1920In addition to boasting some of the top tourist destinations in the United States, Central Florida has cultivated a thriving technology cluster in a 23-county region spanning the breadth of the state. Joint programs by regional universities and community colleges cover a wide range of technology fields, from microelectronics to biotechnology, modeling and robotics, aerospace, wireless technology and digital media. The growing workforce of highly skilled, young professionals is attracting tech employers and fostering startups, adding a significant and expanding source of well-paid residents to help drive retail sales. Tampa and Orlando share a similar overall retail vacancy rate of about 9.5 percent, but Tampa’s malls have outperformed with a vacancy rate below 4 percent and average mall rents of $25 or more per square foot. In Orlando, mall vacancy is 200 basis points higher and average rent is closer to $15. Tampa’s weak spot since the recession has been excess vacancy at strip and neighborhood centers, but falling rents in those subsets showed signs of flattening in late 2013. Orlando in particular has benefited from resurgent tourism that will increase as the economic recovery takes a firmer hold in U.S. markets this year. Investor confidence in Central Florida’s outlook has driven strong demand for net-leased retail since 2011, and would-be buyers are now showing greater interest in multi-tenant properties with below-market rents that offer good upside potential.

To read more on the Florida Tech Corridor, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Retail-CoverRetail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

 

SVN Auction Services Launches Highly Anticipated Q4 National Online Auction

Bidding runs until November 12 with all asset types represented;

Event features one of the industry’s lowest buyer’s premium

 

SVN Auction Services, a provider of date-specific sales and special asset solutions, has launched its popular and highly anticipated SVN Q4 National Auction.  Bidding started on October 15 at 7 p.m. ET and culminates on November 12 at 7 p.m. ET.  All commercial real estate asset types are represented for this online auction event that features one of the industry’s lowest buyer’s premium of 5 percent.

The SVN Q4 National Auction addresses the needs of sellers with properties that have to be sold and closed by year-end. SVN Auction Services’ past SVN Q4 events have attracted thousands of buyers and sellers representing every state in the nation and more than 80 countries.

“This is an outstanding online auction opportunity and really epitomizes the talent, expertise and leadership of our nationwide Auction Services team,” said Kevin Maggiacomo, Sperry Van Ness International Corporation President and CEO. “Of the top commercial real estate brands, Sperry Van Ness is unique in its commitment to establish such a comprehensive Auction Services vertical. As a result, the Auction team—and the assets it represents—receives the marketing punch and visibility that only a national firm can deliver, combined with the specific strategic insight and support that only a local SVN Advisor can provide. It’s a win for everyone involved.”

This year’s SVN Q4 event includes a wide variety of quality office, industrial, retail, land, hotels, multifamily, and NNN properties, including a historic hotel in Hot Springs, Arkansas, a fruit packing facility in Orange Cove, California, a former FedEx headquarters campus in Memphis, Tennessee, and a church and school in Oklahoma City, Oklahoma.  Assets feature a $500,000 minimum value, up to a value range of $14,000,000.

“We not only aggressively promote the SVN Q4 National Auction on a national and international level, but also on a local level where the assets are located,” explained Louis B. Fisher III, SVN Auction Services Co-Chairman of the event. “Combine this with the co-broker fees that are paid and the extremely low buyer’s premium and you see a clear picture of SVN’s ethos of commitment and collaboration. It’s who we are.”

The SVN Q4 National Auction will feature SVN’s leading-edge, propriety SVN-BID 2 WIN platform. It’s a user-friendly, secure online bidding platform that provides a set of robust features allowing users to easily search by location, value and product type.

All properties are presented in an honest, ethical, straightforward manner meant to attract only qualified, serious bidders. Financing is available for qualified assets.

This year’s SVN Q4 National Auction sponsors include Chandan Economics, a leading provider of data and analytics to commercial real estate lenders, investors, and policymakers, EBI Consulting, one of the nation’s largest, universally recognized and approved providers of environmental and engineering due diligence services to the commercial real estate investment and finance industries, Sabal Financial Group, L.P., a diversified financial services firm specializing in real estate, banking and lending, and Stewart Title, a leading provider of real estate services that facilitate successful real estate transactions.

About Sperry Van Ness Auction Services

SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional auction advisors throughout the United States who specialize in areas such as foreclosures, tax sales, multi-properties and bankruptcies. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions—from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International’s more than 800 commercial real estate advisors throughout the nation. This relationship provides outstanding opportunities for SVN Auction Services to serve clients needing to move assets in accelerated timeframes and creates significant value for buyers and sellers.  For more information, visit SVN Auction Services.

Denver, CO | 2014 Top CRE Markets to Watch : Apartment

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Denver, Colorado

denver-69207_1280Denver will add nearly 50,000 jobs in 2014, with much of the growth occurring in high-paying energy, financial services, health care and bioscience industries. Employment growth of almost 4 percent in 2013 and a similar gain expected this year make Denver one of the nation’s fastest-growing job markets. Multifamily rent grew at a remarkable 6 percent in 2013. The addition of 10,000 new units this year will expand the apartment inventory by more than 3 percent, however, enough to slow annual rent growth to a more modest 4 percent. Nearly half of the apartments under construction are in the central business district, where the renovated Union Station is set to open later this year. Existing and planned light rail lines offer development opportunities, as well as value-add plays for investors able to upgrade and reposition existing, older properties in these growth corridors.

To read more on Denver, and other top multifamily markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Office Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commercial Real Estate Trends and Markets to Watch

Charlotte, NC | 2014 Top CRE Markets to Watch : Office

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Office Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP OFFICE MARKET TO WATCH : Charlotte, North Carolina

banks-216156_1280As the second-largest U.S. banking center after New York, Charlotte suffered a severe contraction in office demand following the onset of the financial crisis and is still in the early stages of recovery. Financial services is again a dominant sector, and rapid hiring has driven total employment beyond its pre-recession peak, while the 6.6 percent jobless rate reflects a steady arrival of new workers. The metro’s population of Millennials, ages 20 to 34, will increase by nearly 15 percent over the next five years, or four times the national average. Office vacancy is declining but was still more than 13 percent at the end of 2013. A below-average cost of doing business, coupled with a large and growing pool of educated workers, promises to attract new employers and fuel hiring and office absorption as the national economy accelerates. Downside risks include potential impacts from consolidation in financial services. Properties able to provide flexible, high-density space with rich amenities—favored by Millennials—will be better positioned to attract tenants and grow net operating income.

To read more on Charlotte, and other top office markets, download the full version of the Top Office Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandon-Office-CoverOffice Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Apartment Trends and Markets to Watch
Commercial Real Estate Trends to Watch

Philadelphia, PA | 2014 Top CRE Markets to Watch : Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP INDUSTRIAL MARKET TO WATCH : Philadelphia, Pennsylvania

philadelphia-493829_1280The Philadelphia industrial market has been overshadowed by its faster-growing peers but to its advantage, the market’s fundamentals remain largely unchanged and stable in 2014. Philadelphia County’s more than 360,000 square feet of absorption in 2013, in the absence of major construction, helped to push down the industrial vacancy rate to near 8 percent, on par with the Philadelphia suburbs and lower than the vacancy rates in most of the region’s other markets. Companies seeking space for their own use have taken out more buildings here in the past few years than those leasing space. The population count has decreased by more than 14,000 since 2008 but is back on a moderate growth track. Investors that see Philly’s lack of growth as stagnation may be willing to sell at attractive prices, and those sellers will find potential buyers attracted to the market’s incrementally improving industrial fundamentals.

To read more on Philadelphia, and other top industrial markets, download the full version of the Top Industrial Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Industrial-Cover

Industrial Trends and Markets to Watch

Retail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

 

 

 

Social Media Debate: Why It Does/Doesn't Matter in CRE

In the spirit of one of Sperry Van Ness International Corporation’s (SVNIC) main ideals, collaboration, its Chief Operations Officer, Diane Danielson, and Vice President of Organizational Development, Solomon Poretsky, team up for a healthy debate on social media. They were both asked, “In the world of commercial real estate why does, or doesn’t, social media matter?” Below you will find their arguments. (Queue the bell ring because these two know how to put up a fight.)

Social Media Doesn’t Matter – Solomon Poretsky

Solomon Poretsky - Vice President, Organizational DevelopmentLet’s start this with a two question quiz:

How many listing agreements have been signed via Twitter?

  1. 10
  2. 1,000
  3. 100,000
  4. None. You can’t sign a listing agreement with a tweet.

How many properties have changed hands through a LinkedIn status update?

  1. 10
  2. 1,000
  3. 100,000
  4. None. You generally can’t sell property without a deed transfer.

If you answered D to both, you’re right. You also know why social media doesn’t matter. But, keep reading, anyways.

Commercial real estate brokers need both marketing and sales activities to drive their businesses forward. The work that you do to MARKET yourself makes it easier to convert prospects into clients and put them into your SALES funnel.

Think about prospecting by telephone. If you don’t have anything good to talk about and the people in your database don’t know who you area, prospecting can be successful, but it’s usually hard to do. On the other hand, if people know you and have all sorts of things to discuss with you, prospecting is not only easy but also pleasant. That’s what marketing can do for you, and social media is a marketing tool.

However, the problem with marketing is that, by itself, it won’t create sales. Even if you have an excellent social media campaign and it gets people to start calling you, you will still have to convert them into clients. So, you still need sales activity to drive your commercial real estate business.

To understand why social media doesn’t matter, picture two dart players. One is blindfolded, knows roughly where the dart board is, and has lots of darts to throw. The second is an expert dart player – a tournament winner, in fact – but has no darts and doesn’t feel like playing. Which do you think is more likely to hit a bull’s eye? The first one might not be very good, but at least she’s going to try, and the odds are that she’ll eventually hit one. The second one, on the other hand, is guaranteed to not hit a bull’s eye since he isn’t even trying.

The second dart player is a lot like a commercial real estate Advisor or broker with an excellent marketing campaign who sits back and waits for the phone to ring. Lots of Twitter followers or Facebook Likes might look good, but social media isn’t where business gets done. The first dart player, on the other hand, is like a broker that keeps showing up. Sure, she might not be that polished, and she might be working harder than she needs to, but at least she’s closing deals. Ultimately, if you aren’t doing what you know is required to drive sales, social media won’t help you.

By the way, the best option? Be great at sales and at marketing, including social media. If you’re talking to people aggressively, and they know who you are thanks to both traditional marketing and a strong social presence, you’re more likely to not only succeed, but succeed with less effort.

Social Media Matters – Diane Danielson

Diane DanielsonSocial media matters in commercial real estate in much the same way email and telephones matter. It’s a form of communication. Whether you use it or not, doesn’t stop others from doing so, which means you might be left out of some of the conversation. This may matter more or less, depending on where you are in your career.

Credibility 

Whether social media matters or not is a sliding scale. For those who are younger or newer to the business, it’s a great way to build credibility.  If you start writing market updates and sharing them through social media, you will define yourself as an expert in your market or specialty.

For anyone more senior, you might already have that reputation with your existing networks, but doing the same could expand your expertise to newer networks; especially those decision-makers who are closer to 30 years old than 50 years old.  Shunning social media can make one appear out of touch to a growing segment of potential clients.

Finally, LinkedIn is the ultimate B2B platform with 300 million participants on it already; it’s the ultimate who’s who and a shortcut to get to almost everyone.  In many cases, your LinkedIn profile may not be just the first impression a client might have, but the only impression. At the very least, all brokers and advisors need to have an up-to-date LinkedIn profile.

Research

In today’s world, I assume that anyone who contacts me would have at the least, knowledge of anything on my LinkedIn profile.  I also expect that any commercial real estate Advisor or broker would be tracking their clients and markets via Twitter, as well as LinkedIn. Twitter can be a good resource for market information and not just from CRE individuals. Really knowing a market means knowing the local businesses and politics and Twitter is a valuable tool for following local press, planning boards, businesses, etc.  If you are not on Twitter, you could be missing real time information that could be valuable to your clients.

Dealmaking

While there will always be the stories about deals being made strictly due to social media, this is unlikely to be the norm.  However, could it be the factor that gives a commercial real estate Advisor an edge? Of course, and who wants to be that Advisor who didn’t give him or herself that edge over the competition?  This is one of the reasons,  Sperry Van Ness® Advisors put their featured properties on our Monday Morning Sales Call, which is then pushed out through social media channels (Twitter, LinkedIn, Facebook and Google+) as well as featured in slide format on SlideShare and in video format on YouTube.

At Sperry Van Ness International Corporation, our Advisors don’t give just themselves an edge, they provide that same edge to their clients. And, that’s our secret to repeat business.

So, does social media matter in commercial real estate? It depends on whether you are the type of exemplary Advisor who appreciates the value of having an edge on the competition.

To find out more about careers at a Sperry Van Ness® office, visit our career center. If you are interested in learning more about owning your own Sperry Van Ness® franchise, click here.

Nashville, TN | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : Nashville, Tennessee

NashvilleA state capital with a skilled workforce and diverse economy, Nashville is staging a strong comeback in its retail fundamentals. The vacancy rate dropped by 100 basis points year-over-year in 2013 and is poised to enter single-digit territory this year. Absorption has been positive across all retail subsectors and has been most pronounced in the city’s malls, which accounted for nearly a third of net absorption. Mall fundamentals have firmed up markedly in the past 18 months, reining in vacancies from a rate in the mid-teens to more closely match the citywide rate near 10 percent. With little new space delivered in 2013 and a scant supply in the pipeline, fundamentals are on track for further improvement this year. As Nashville enters the radar screens of more investors at the national level, competition could help to preserve and enhance value as interest rates rise.

To read more on Nashville, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Retail-CoverRetail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

 

Dallas, TX | 2014 Top CRE Markets to Watch : Apartment

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Dallas, Texas

DallasCombine low taxes, mild winters and a business-friendly climate with Dallas’ central location relative to both U.S. coasts, and it’s easy to see why this North Texas metro is enjoying annual economic growth of more than 3.5 percent. Reports early this year that logistics technology firm Omnitracs Inc. may bring as many as 1,000 jobs to the Dallas central business district simply added to the list of more than 50 major employers that have relocated to the metro area in the past two years, adding jobs and fueling population growth that will top 2 percent in 2014 alone. Renters in the Dallas-Fort Worth metro absorbed more than 16,600 apartment units in 2013, more than any other U.S. market, yet average vacancy of approximately 5.5 percent is well below the 10-year historical average of around 8 percent. While these fundamentals suggest good development prospects, the metro is also turning out apartments far faster than any other major market, completing nearly 13,000 units in 2013. That new supply could temporarily hamper rent growth in some submarkets.

To read more on Dallas, and other top office markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Apartment-CoverApartment Trends and Markets to Watch
Office Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commerical Real Estate Trends and Markets to Watch

The Art of Underwriting: How to Evaluate a Commercial Real Estate Property

If you’ve been through any type of training on commercial real estate underwriting, you’re probably familiar with the basic accounting and mathematics that go into underwriting a commercial property. You don’t need me to tell you that you calculate an NOI by subtracting operating expenses from the EGI, or that you convert an NOI to a price by dividing the NOI by the cap rate.

iStock_000009755804LargeUnderneath all of the numbers, though, underwriting commercial real estate is a much more artistic process than it seems. Just about every number that you underwrite represents an opinion as much as a fact. For example:

  • Should you underwrite with a property’s current insurance rate or with the rate it will be after it changes hands at a higher value?
  • If an owner just replaced an old 80 AFUE furnace with a 97-rated unit, should you use the old gas bill, use the projected new number, or choose something in between?
  • When tenants have rent bumps, do we include the rent they paid, the rent they will pay, or an average of both?

All of these are judgment calls and, especially in the world of privately-owned investment real estate, the answers aren’t always clearly defined. Instead, it becomes a test of your judgment as a commercial real estate Advisor and as a market expert.

Taking this more fluid view of underwriting commercial properties lets you add more value for your clients. If you always take trailing 12-month expenses, for instance, you might miss out on the benefit of upgrades to a building. Knowing how to flex your standards to conform to market realities could let you add more value for your clients. And doing that lets you land more deals.

The key to doing this is to treat CRE underwriting as a collaborative process. The old model of getting numbers from your client, going back to your office to do a financial model, then presenting a written report is obsolete. Even if you’re still using paper-based presentations, your most important tool is now a pencil. That way, you can talk through the building’s financials with the owner and, as appropriate, change your assumptions to better reflect the truth at the property. Frequently, this process will lead to higher NOIs and higher selling prices. Along the way, it also positions you as a partner and Advisor, making it more likely that your prospect will have enough comfort with you to become a client.

So, brush up your underwriting skills and learn how to do it on the fly. Knowing this – and being able to clearly translate your business assumptions into marketing text that prospective buyers can understand – will make you a more effective listing agent.

Did you find these tips helpful?

Learn more about how the Sperry Van Ness platform can provide you with the tools, resources, and expertise to gain competitive advantages that will grow your business.

Top Twitter Tips for CRE Professionals

As a commercial real estate professional you don’t need reminding that your daily routine is packed. From listing appointments to sales presentations and due diligence…who has time for anything extra, especially social networking? Well, if you are reading this blog, hopefully that means you have realized the important role social media plays in your overall marketing plan.

Let’s face it, even if you don’t want to “socialize” on digital platforms, being visible on social media is a necessary part of promoting your personal brand, services and products to the external marketplace. In today’s fast-paced, digital world visibility is key and Twitter is a great, and free, platform to get all that is “you” out there for the world to see.

Whether you are new to the social media game, or are currently live tweeting this blog, these tips for getting the most from Twitter will help push your social game to the next level.

Put It Out There, Wisely

Something to always remember with social media – be careful what you put out there. In the age of Google, chances are the first thing a prospect will do is search for you on the internet. So always make sure to follow the “Grandma Rule”: Ensure that what is found on the internet you would be proud to show your grandma.

Second, your Twitter biography matters and should be used to stand out from the crowd and catch people’s attention. It may seem difficult describe yourself in 160 characters, but keep these tips in mind:

  • Use keywords that tie to your business, such as, “CRE, Sperry Van Ness, SVN, Broker”.
  • Use words and short phrases instead of sentences, such as, “John Doe, CRE Professional, Sperry Van Ness, Atlanta”.
  • Keep it current by updating your bio with any special events or marketing tactics, such as, “CRE Advisor, Attending ICSC Western Division, Let’s Network”.

Remember, nothing is set in stone so try different keywords, phrases, etc. and see what gets the most engagement. Trial and error is your friend.

Hashtags: If You Don’t Use, You Lose

hashtagsFirst things first, here is the definition of a hashtag: The # symbol, called a hashtag, is used to mark keywords or topics in a Tweet that become searchable. Twitter users created it organically as a way to categorize messages. 

So, why are these are important? Beyond the fact that tweets with hashtags receive two times more engagement then those without, using them helps others find you. A hashtag describes to your audience what you are sharing, such as, “Major #CRE news in the #Boston market: #Retail investments plummeted 29%.” In this example, anyone who searches for CRE news in Boston will see your tweet.

You can also be the one searching.  Within the Twitter platform, and in most search engines, you can search for specific hashtags to get informed about what is going on in your local market. Do some hunting with relevant keywords and see what you find.

Some useful tips on hashtags:

  • More than three is a crowd. You should never use more than three hashtags in a single tweet.
  • Never start a tweet with a #.
  • For a more in-depth look at hashtags, here is a great article.

It’s Okay To Be A Follower

Using Twitter in your CRE business is solely done to increase your visibility.  The more followers you have on Twitter, the more visible you become. In order to increase followers you should be the one following. Do some searching and find those individuals in the commercial real estate market who are sharing great content and who have built a strong following in the Twitter-verse. They will serve as great examples of what works, and what doesn’t, on Twitter.

You actually don’t need to look very far. There are many Twitter superstars in the Sperry Van Ness organization who serve as great examples:

Robert PliskaDiane DanielsonCatherine HouseJerry AndersonNatvar NanaKaren HurdMiguel de ArcosAlex Ruggieri and Reid Bennett.

Sharing Is Caring

Moving a step beyond following someone, make sure to share his or her content. Retweeting, or sharing someone else tweet denoted by “RT”, is a great way to both engage and save time by repurposing relevant content someone else has lovingly already packaged for you!

Another tip is to call out other Twitter users in your tweets by using their handle, denoted by the “@” symbol, such as, “Great news out of #Boston: @DianeDanielson promoted to COO of SVNIC! #CRE”.  This is a great way to start a conversation, and increase engagement.

Some useful tips on sharing:

  • Make sure to vary your tweets with both original content and retweets.
  • Never start a tweet with the @ symbol. If you need to, make sure to put a period before it like, “.@DianeDanielson…”.
  • Respond to those who shared your content or referred to your handle. No one likes to have a one-sided conversation.

Always remember the biggest rule in social media: It’s not about you, it’s about them. Engagement is built by providing content that is relevant to your clients, colleagues and the #CRE marketplace.

Happy tweeting!

San Antonio, TX | 2014 Top CRE Markets to Watch : Office

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Office Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP OFFICE MARKET TO WATCH : San Antonio, Texas

San AntonioNearly 2 percent annual population growth and a diverse employment base are propelling San Antonio’s economy at a healthy clip, but the market lags the performance and rising profile of the other major Texas metros of Houston, Dallas/Fort Worth and Austin. San Antonio’s longstanding strength in the military and aerospace sectors, coupled with close proximity to Austin’s high tech cluster, has fostered an important cyber security sub sector. Located less than an hour’s drive south of Austin, the Alamo City has also captured a large piece of the Eagle Ford Shale energy boom emanating from South Texas, while its business-friendly climate, thriving tourism and manufacturing jobs attract new residents and fuel home sales. Office tenants were still giving back space in 2012 but absorption turned positive here in 2013. Delivery of several new office projects slowed rent growth and pushed the office vacancy rate into the middle teens last year without softening conditions enough to hamper rental rate growth. More construction is likely to begin in 2014. For investors who missed the opportunity to acquire office assets in Houston, Dallas or Austin at the bottom of the market cycle, San Antonio offers acquisition and development opportunities in a market that is in the early stages of appreciation.

To read more on San Antonio, and other top office markets, download the full version of the Top Office Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandon-Office-CoverOffice Trends and Markets to Watch
Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commerical Real Estate Trends and Markets to Watch
Apartment Trends and Markets to Watch

Miami, FL | 2014 Top CRE Markets to Watch : Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP INDUSTRIAL MARKET TO WATCH : Miami, Florida

miamiAs a gateway to Latin America and the Caribbean, Miami’s port and intermodal hub is a center of growing demand for modern industrial space. Miami’s overall vacancy rate of 6 percent is down almost 100 basis points from a year ago, but with 1.5 million square feet added to the market in 2013 and a similar amount under construction, monthly rents have been flat at around 70 cents per square foot. The Port of Miami is investing $2 billion to service the largest container ships that will pass through the expanded Panama Canal when it reopens in late 2015. Improvements include dredging channels to a depth of 52 feet, installing massive dock cranes, and building a tunnel under Biscayne Bay to connect the port with nearby highways. Heated transaction volume has compressed cap rates on assets around the port to near 6 percent. Port Everglades, on the other hand, may present interesting opportunities for acquisition or development. Located 23 miles from Miami in Fort Lauderdale, Port Everglades handled approximately 1 million ten-foot equivalent units (TEUs) of containerized goods in 2013, trumping the Port of Miami’s volume by 50,000 and making Everglades the state’s busiest cargo port. The port is dredging its channels to a depth of 50 feet to handle larger ships, and an intermodal container transfer facility under construction will soon enable ships to unload cargo directly onto railcars.

To read more on Miami, and other top industrial markets, download the full version of the Top Industrial Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Industrial-Cover

Industrial Trends and Markets to Watch

Retail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

 

 

 

New York City, NY | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : New York City, New York

3056953388_4512c89d0a_bThe retail recovery is old news in the Big Daddy of U.S. core markets. In New York City, the retail talk in 2014 is about new stores, strong sales, and intensive investment. Massive increases in tourism are a big part of the retail story, with more than 50 million visitors annually in each of the past three years. In 2013, tourists spent $8 billion at local retailers, excluding what they spent on dining and accommodations in the city. Fifth Avenue department stores and other high-end retailers aren’t the only shopping destinations with strong retail sales—the metro area’s dense population and high income demographic has supported more uniform demand across retail classes than in most other U.S. markets. More than 900,000 square feet of absorption, chiefly in the metro area’s neighborhood shopping centers, drove the vacancy rate below 5 percent in 2013. Developers added roughly 400,000 square feet to the local inventory, almost entirely in that same category of neighborhood centers. Outside the core areas and in the broader metro, strip centers have generally fallen behind other product types and experienced a 70,000-square foot demand contraction last year. Competition to acquire well-located properties is intense, and cap rates compressed through competitive bidding are squeezing out even heavily leveraged investors.

To read more on New York City, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

Chandan-Retail-CoverRetail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

 

Boston, MA | 2014 Top CRE Markets to Watch : Apartment

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Apartment Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Apartment Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP APARTMENT MARKET TO WATCH : Boston, Massachusetts

BostonBoston’s position as a top multifamily investment market (just behind New York and San Francisco) has pushed asset pricing to record highs and made construction an attractive alternative for investors. Local builders and institutional developers from around the country are cranking out new multifamily product here at the rate of about 4,000 units per year. That is well behind the pace of new household formation, which will be nearer to 7,000 annually over the next several years here. A falling vacancy rate, currently near 4 percent, has sparked spectacular rent growth of 20 percent or more over the past five years, although rents may plateau as new projects deliver large blocks of space and add vacancy. Much of the new construction is taking the form of large urban towers, answering the demands of well-paid, highly educated young knowledge workers attracted to Boston’s 24-hour culture.

To read more on Boston, and other top office markets, download the full version of the Top Apartment Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Office Trends and Markets to Watch
Industrial Trends and Markets to Watch
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Commerical Real Estate Trends and Markets to Watch

How to Choose a Commercial Real Estate Broker

Five Mistakes Great Commercial Real Estate Brokers Don’t MakeLooking for a CRE broker who will give you both the time and positive experience that you need? Start your search by narrowing your options to established national firms. Once you’ve selected a reputable firm, don’t shy away from choosing a junior commercial real estate agent with slightly less experience and knowhow.

This may sound counterintuitive, but choosing a junior broker could be the best decision for you. For one, most established firms are selective in who they recruit, so you have pretty strong odds of finding a good broker, regardless of experience level. Secondly, the junior broker that you work with will be driven to make a good impression so that they can build their resume. Both of these factors will contribute to a broker who will give your transaction much more attention than a more experienced agent would.

At this point, you may be asking, “Well, what if they’re incompetent?” Even if you get a bad draw and end up with a mediocre junior broker, there is still a silver lining: they aren’t working alone. At any good firm, these junior brokers will have a senior agent or a more experienced manager overseeing their work. This means that you get the benefit of working with an experienced senior agent, while also getting a high level of personalized service.

I worked hard for my clients as a young agent, and as I grew into a senior agent and manager, I provided expert advice to my junior brokers and their clients. These clients greatly benefited from the time my junior brokers were able to dedicate to them, as well as the insight and knowledge of our senior staff. Now you can take advantage of this approach!

Ready to choose a broker?

We have the best Advisors in the business offering a number of CRE services. Explore our extensive list of services here.

Chicago, IL | 2014 Top CRE Markets to Watch : Office

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Office Markets to Watch. Not the largest, or the most actively contested markets, the 2014 Office Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP OFFICE MARKET TO WATCH : Chicago, Illinois

chicago-1342075949YmtElevated but improving unemployment of 8.3 percent is a reminder that Chicago is lagging other major markets on the road to economic recovery. The office sector entered 2014 with nearly a fifth of its office space available for lease or sublease, but leasing activity appears to be accelerating. The central business district is attracting tenants from the suburbs as the urbanization trend takes hold, with employers moving closer to employees that live downtown. Office rents are exhibiting the volatility typical at the bottom of a market cycle, and posted a slight year-over-year decline at the end of 2013. Chicago’s diverse economy positions it for accelerated hiring as the national recovery gains momentum, but that growth is unlikely to bring substantial absorption of office space in 2014. For office investors seeking a bargain on assets in a top tier city, non-trophy assets in Chicago may harbor good opportunities with the potential to increase value as the local economic recovery finds its stride.

To read more on Chicago, and other top office markets, download the full version of the Top Office Markets to Watch report below.

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Industrial Trends and Markets to Watch
Retail Trends and Markets to Watch
Commerical Real Estate Trends and Markets to Watch
Apartment Trends and Markets to Watch

Atlanta, GA | 2014 Top CRE Markets to Watch : Industrial

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Industrial Markets to Watch.  Not the largest, or the most actively contested markets, the 2014 Industrial Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that is driving the economy and commercial real estate performance in markets across the country.

TOP INDUSTRIAL MARKET TO WATCH : Atlanta, GA

Atlanta, GAConstruction pumped more than 4.5 million square feet of new space into Atlanta’s industrial market in 2013, the largest addition since 2008. Build-to-suits accounted for more than three-fourths of the new space, however, and the additional speculative construction paled in the face of ravenous demand. Absorption hit a post-recession high of nearly 11 million square feet, driven chiefly by small and mid-sized companies. The vacancy rate plummeted 120 basis points from the previous year to end 2013 at 12 percent. The surge in construction and an increasing average rental rate both reflect the difficulty that tenants face in seeking modern, well-located space for growth. Although massive deals such as Home Depot’s 1.3 million-square-foot e-commerce center and a 1 million square- foot project for Procter & Gamble tend to dominate Atlanta’s real estate headlines, investors will find numerous opportunities catering to the small and mid-sized businesses that accounted for nearly 80 percent of the market’s industrial absorption in 2013.

To read more on Atlanta, and other top industrial markets, download the full version of the Top Industrial Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Industrial Trends and Markets to Watch

Retail Trends and Markets to Watch

Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

 

 

 

San Francisco, CA | 2014 Top CRE Markets to Watch : Retail

Sperry Van Ness International Corporation’s (SVNIC) 2014 Top Markets to Watch Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2014. Today we are delving into the 2014 Top Retail Markets to Watch. Not the largest or the most actively contested markets, the 2014 Retail Markets to Watch are each at an important juncture that presents unique opportunities for investment. Together, they reflect the diversity of trends that are driving the economy and commercial real estate performance in markets across the country.

TOP RETAIL MARKET TO WATCH : San Francisco, CA

San FranciscoConsumers are prospering in San Francisco, and that gives retailers and retail landlords something to celebrate. As one of the U.S. gateway markets that have drawn an outsized share of retailer expansions since the recession, however, San Francisco has essentially filled its inventory of Class A space and offers only limited availability in B properties. The barriers to entry that help to place a premium on existing space are also keeping the construction pipeline in check, forcing some retailers to delay expansions pending an improvement in the availability of suitable space. Cap rate compression and intensive competition for acquisitions have inspired many investors to turn their attentions from this top tier market to cities offering opportunities for larger annual returns. Yet for core retail investors, it’s hard to find a more attractive market than San Francisco.

To read more on San Francisco, and other top retail markets, download the full version of the Top Retail Markets to Watch report below. 

It’s a different world out there.

It requires a different kind of commercial real estate firm working on your behalf in order to be successful. The Lipsey Company has ranked the Sperry Van Ness® organization as one of the most recognized commercial real estate brands in the US for a reason—we know how to deliver a certainty of execution for our clients. Sperry Van Ness International Corporation is one of the largest commercial real estate franchisers with more than 180 locations in 200 markets.

Download the Top Trends and Markets to Watch Reports

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Commerical Real Estate Trends and Markets to Watch

Apartment Trends and Markets to Watch

Office Trends and Markets to Watch

Industrial Trends and Markets to Watch

 

Understand Your Lease, Avoid Unexpected Expenses

It is not uncommon for our office to receive phone calls from commercial tenants whose leases are nearing expiration and who feel they did not get what they bargained for when they originally signed their lease. Often, these tenants incurred significant unexpected charges or expenses during their lease term, which soured their relationship with their landlord and motivated them to find space elsewhere rather than extend their lease.

I feel the majority of these situations are not the result of intentional wrongdoing or purposeful deceit on the part of the landlord, but rather they emerge due to a lack of knowledge and understanding, primarily on the part of the tenant. This makes sense when you consider that landlords typically generate the lease documents and are therefore very familiar with their content. In addition, the majority of landlords have signed numerous leases with many tenants over many years. In contrast, a business tenant may only be a signatory on a commercial lease a couple of times during their entire career, and gaining an in-depth understanding of an unfamiliar and complicated multi-page legal document packed with small print can be a daunting task, not to mention an unwelcome interruption to running a business.

signature-389933_640I would say that many landlord/tenant financial misunderstandings relate to “operating expense” clauses in the lease. Property investors (aka landlords) purchase commercial property in anticipation of a projected return, and they, quite logically, seek to reduce risk and maintain that return over the life of the investment. Therefore, it is reasonable that landlords typically look to pass property operating expenses on to their tenants by way of a “net” lease. The problems arise, however, when, due to the complexity of the property operating cost language: 1) tenants do not understand what they are signing and the affect that operating expense clauses will have on their total rental expense; or 2) the tenant is suddenly hit with a crippling increase in operating expenses due to broad and open-ended lease provisions that were not negotiated or limited to any degree. If tenants take the time to understand the true financial implications of their lease up front, or secure representation from experts such as real estate attorneys or commercial real estate brokers, then they will have the opportunity to negotiate lease terms that are realistic and acceptable to their business needs, or alternatively, choose another building that falls within their budget.

Property operating expenses generally fall into three primary categories – property taxes, insurance and maintenance. The term “triple net” (or, “NNN”) relates to these three expense groupings. A triple net lease therefore would be a lease where your base rent payment is “net” of taxes, insurance and maintenance charges, but where these expenses are billed to you separately in addition to your base rent. A “net” lease rate will, therefore, typically be less than a “gross” lease rate which already has operating expenses built in.

To avoid unpleasant and financially burdensome surprises when considering signing a net lease, I recommend the following:

  • Request from the landlord a detailed breakdown of the property operating expenses over the past few years. From this, you should be able to determine which expenses are actually being passed through and whether there have been wide swings in the amount of total expenses each year.
  • Examine closely the lease language defining “operating expenses.” Operating expenses should NOT include things like: i) capital expenditures (a tenant should not have to pay for the landlord’s brand new roof); ii) personal property (the lawn mower the landlord bought primarily for his home); iii) income and capital gains taxes; iv) expenses for which landlord is reimbursed by any third party, other tenant, or insurance proceeds; v) loan fees, mortgage payments; vi) un-earmarked reserves; vii) various other costs that sometimes appear in leases but that do not relate to typical building operating expenses.
  • Pay special attention to any property tax related lease clause(s) as property taxes are often the most expensive component of operating expenses. Can items such as municipal improvement bonds be included with property tax pass-throughs? If so, be sure to know what these items total. If the property sells at a much higher price than currently assessed, are you fully obligated to pay the entire tax increase when the property is reassessed?
  • Request that triple net charges (sometimes called “CAMs” or common area maintenance fees) be estimated annually and billed in equal monthly installments that can only change upon prior written notice by landlord.
  • Attempt to negotiate a reasonable cap or limit on the amount that operating expenses may increase each year. If you are paying $.15 per square foot in triple net charges and then they suddenly increase by 100 percent to $.30/sf, this could gravely affect your operational cashflow.

To learn more , please contact Lock Richards, Managing Director of Sperry Van Ness | Highland Commercial at Lock.Richards@svn.com or 530.470.1740.

Top 10 Reasons to Franchise With Sperry Van Ness International Corporation

Are you looking for a change? Do you want to be your own boss? Have you been thinking about opening your own real estate brokerage or property management business? You may want to do a little investigating to learn about franchising opportunities that are available today in the commercial real estate industry.

Franchising can offer a real estate entrepreneur the freedom to go out on their own and create a whole new strategic, business model. Franchising can provide stability — partnering with a franchisor vs going out on your own. Franchising can offer support — leveraging a national, recognizable brand in the market. Franchising can offer opportunity – if you are looking for new ways to achieve growth in your business.Franchise_Image

Here are the Top 10 Reasons why a CRE broker or property manager may want to consider a franchise opportunity with Sperry Van Ness International Corporation:

Business Ownership: Franchising with SVN is one of the best ways to broaden your reach, enhance your productivity, and be in control of your own success.

Deal Flow: Our national platform connects you with 1,200 advisors and staff in more than 200 markets with over $8 billion in deal flow.

Tools: SVN’s proprietary system of leading-edge CRE tech tools1 and online resources give you a competitive edge in your market.

Culture: Our unique culture is built on our Core Covenants, emphasizing collaboration, accountability, responsibility, and transparency to create a positive work environment for our team.

Speed: An award-winning marketing system2 and tools provide accelerated speed to market for your listings for shortened sales cycles and expedited closings.

National Brand Recognition: Combine the 8th Most Recognized Name in Commercial Real Estate3 with your outstanding local reputation. Gain major brand alignment to compete for listings at a national level.

Training, Mentoring & Recruiting: Valuable and unique resources, including our expert CRE webinars, our effective onboarding program, and the SVN System for GrowthTM, along with recruiting assistance and peer coaching groups, all make up the SVN Difference.

Cloud-Based Platform: Connects you to your business from any device, from any location, letting you leave your desk behind.

Trust: SVNIC is committed to sharing our fees and compensation with the entire brokerage community.

Minimal Transition Time: Get your firm up and running in no time. This includes our SVN System for Growth™ and onboarding tools as well, as one-on-one assistance from our Transition Specialist.

To learn more about Franchising Opportunities at Sperry Van Ness International Corporation please contact Karen Hurd, Vice President of National Franchise Sales and Development at Sperry Van Ness International Corporation at karen.hurd@svn.com or 781.812.4272

1 SVNIC was awarded with the 2003 Realcomm Digie Award for “Innovative Technology.”
2 SVNIC was awarded with the 2011 Realcomm Digie Award for “Best Use of Automation.”
3 SVNIC was named the 8th Most Recognized Brand in Commercial Real Estate, according to the Lipsey 2014 Commercial Real Estate Brand Survey.

Two Questions a Commercial Real Estate Broker Must Always Ask

Two Questions a Commercial Real Estate Broker Must Always AskOur business doesn’t always seem like an easy one. After all, we deal with extremely valuable assets or with complicated legal arrangement that can last for years. Those of us who are in property management are responsible for countless parts of a building’s operations and for managing scores of relationships.

You’d probably think that the most important question in the commercial real estate industry is like the Accounting oral test question in Back to School – one question – with 27 parts. In actuality, the two best questions in a savvy commercial real estate broker’s arsenal contain just five words – and that covers both of them.

Why

For a single, simple word, why is amazingly powerful. When you’re a new to the business advisor, you can use it to keep a prospect talking while you’re figuring out what to say next. The most senior brokers in the industry, on the other hand, use it to gain deeper insights. Just about any response from a client can be met with “why,” and, in just about every case, “why” will get you closer to the information you need to help a client take the appropriate actions to achieve his or her investment goals. Here are some examples:

  • I bought this asset to hold it long-term…. Why?
  • I manage this asset myself… Why?
  • It might be time to 1031 to a new property… Why?
  • I usually like short-term leases… Why?

As long as the answer to the question isn’t completely obvious, why is one of the most powerful questions that you can ask. It can also be a good follow up and, with the addition of a few words here and there, can even be used a few of times in a row

I manage this asset myself.

Why?

Because property managers are too expensive and don’t do a very good job.

Why do you say that?

I’ve worked with three different ones and that’s been my experience.

What if You Don’t ….

“What if you don’t…”  is extremely powerful because it strips away artifice and leaves true motivation behind. How many times have you had a client tell you that he was going to sell a building and then turn out not to do a transaction? To avoid this problem, consider asking “What if you don’t sell your building?” Sometimes, the client will tell you that she is fine holding onto it. In other cases, she’ll tell you that she has no other option or that the other options are too unattractive to stop her from selling.

Some commercial real estate brokers are scared to ask a client about not taking action. However, just as it’s almost impossible to talk a client into doing something that she doesn’t really want to do; it’s equally hard to talk her out of doing something that fits her strategy. In either case, what you really want to do is to find out the truth of what the client actually will do so that you can begin making plans to help her.

What questions have helped you land more business? Have we missed any? Let us know below in the “comments” section.





Five Mistakes Great Commercial Real Estate Brokers Don’t Make

Five Mistakes Great Commercial Real Estate Brokers Don’t MakeTruly exemplary commercial real estate brokers can be sales or leasing brokers specializing in everything from parcels of raw land to CBD office buildings. While their businesses might be different, they all share common business practices. They also avoid making these five fundamental mistakes.

Letting the Hopper Empty

When you get busy with commercial real estate deals, it can be easy to let the work you have to do on them distract you from the crucial business development activity that will keep you busy for the future. Exemplary brokers are very aware of this and always make time to build their pipelines. Whether they are cold calling, keeping up relationships or tending to a lead generating team or system, leading brokers always have new opportunities filling their sales hoppers so that they can continue earning and growing.

Ceding Their Knowledge Advantage

While brokerage is a relationship business, exemplary brokers know that the relationships turn into transactions based on information. Knowledge solidifies ties to clients, makes pricing more accurate and enables brokers to find the right spaces for their tenants (or to set the right rents for their landlords).

The best commercial real estate brokers have a knowledge advantage because they are truly experts in their markets. Along with this advantage, though, comes with the realization that they can’t know everything. This means that when they get an opportunity outside of their comfort zone, they don’t make the mistake of working it by themselves. Instead, they bring in another expert to give them and their client the knowledge they need to successfully consummate the deal.

Avoiding Tough Conversations

The best commercial real estate brokers don’t shy away from tough conversations and situations. They aren’t afraid to ask tough questions of clients as a part of assessing that client’s desire to do a transaction and as a part of figuring out what the client really needs. At the same time, they also don’t hide behind emails or assistants when a problem comes up. Instead, exemplary brokers get on the phone or get in their cars and work the situation out with their clients.

Going it Alone

Successful brokers know what their time is worth. With this knowledge, they build teams that allow lower-cost people to do their lower-value work, freeing them up to do more of what they do best. This approach may cost these leaders a little bit of money, but it gives them the time to make a whole lot more of it.

Failing to Engage

Finally, leaders in our industry are who they are because they are leaders. What this means is that they don’t make the mistake of just doing their jobs and servicing their clients and prospects. Instead, they are fully engaged with the commercial real estate industry, with their companies and with their communities. Having these ties isn’t only the right thing to do. It’s also the smart thing to do, since it puts them in position for referrals and increases their credibility and visibility, making it easier to develop new business.


Four Essential Qualities of a Highly Successful Commercial Real Estate Advisor

Four Essential Qualities of a Highly Successful Commercial Real Estate Advisor

There’s a lot more to being a successful commercial real estate Advisor than just having a few good suits and spending a lot of time with a cell phone glued to your ear. While it starts with thinking of yourself as an Advisor instead of just a broker that gets a deal done and moves onto the next one, after closing thousands of transactions, we’ve identified four must-have qualities that set the best Advisors apart.

An Allergy to No
To a large extent, commercial real estate Advisors make their living by being told “no.” It can take hundreds or thousands of unsuccessful cold calls to get to a single paycheck. For most people, “no” is an ending. Successful Advisors, on the other hand, take a “no” as a reason to go ask another question – or ask another prospect. And they keep going until they hear “yes.”

An Add-Value Attitude
We deal with highly sophisticated clients. Traditional sales tricks won’t work on them, while transactions are rare enough that you also can’t simply show up and hope that business will fall in your pocket. With this in mind, exemplary Advisors know that the key to building relationships that turn into transactions is to continually add value to prospects. Great Advisors earn relationships and loyalty by continually helping their clients. Whether they’re sharing a great piece of information to open up a prospecting call, sharing important market information or helping a client to better manage their operating expenses, they put in the work in the near term to earn the fees in the long term.

An Ability to Find Wins
Commercial real estate negotiations are some of the most complex in the business world. Good Advisors keep their client’s interests at heart. The best Advisors also understand what the other side in the negotiation needs. That way, they can find issues that will allow that party to win while still giving their client what she needs to successfully consummate the transaction.

An Absolute Sense of Integrity
Here’s a shocker. You don’t need integrity to get into commercial real estate. You don’t even need it to make money in the field. Where you need it is if you want to stay in the industry.
Above and beyond simply being the right thing to do, Integrity serves two important business purposes. The first is that it keeps you out of court. In a business where everyone can afford legal representation, it makes no sense to play fast and loose. The second is that real integrity is the most powerful brand-building tool you have. As clients see proof of your ethics over a period of years, you earn their loyalty and their referral business. If they learn that you lack it, on the other hand, your brand becomes irreparably tarnished.

Do you think we missed anything? Let us know what you think makes a great commercial real estate Advisor below by leaving a comment!


Three Ratios That Matter for Commercial Real Estate Brokerage

Solomon Poretsky, Vice President of Organizational Development
Solomon Poretsky, Vice President of Organizational Development

The following are a few words about important ratios from our new Vice President of Organizational Development, Solomon Poretsky.

If you’re looking to grow your commercial real estate brokerage practice, the old adage that it’s better to work smart than work hard holds true. Before simply making more calls, take some time to look at your business and see where you’re strong and where you can improve. Focusing your efforts on improvement lets you win more deals without doing any more work. Here are three of the key ratios to analyze as you plan your strategy:

Contacts to Meetings
To calculate the contact to meeting ratio, add up all of the unique people you talk to on a prospecting call, and divide it by the number of meetings you book. If you talk to 30 people and book 5 meetings, your ratio is 6. Booking 2 meetings out of 40 conversations, on the other hand, works out to a 20 to one ratio. While the ratio can vary, most mid-range agents that are focused on booking meetings with qualified prospects fall between 5 and 7 contacts to book a meeting.

A lower ratio might indicate that you are extremely skilled on the phone. A higher ratio could indicate that your approaches are less effective. It could also show that you’re over-qualifying on the phone. Remember that it’s always better to meet a prospective client than not to meet her.

Proposals to Listings
Whether you’re looking to sell apartment buildings or become a landlord rep for office building owners, presenting the proposal is where the rubber meets the road in commercial real estate. Doing too few proposals means that you’re missing out on opportunities to move a relationship forward with a prospect that could turn into a client down the line. On the other hand, if you’re doing double-digits worth of proposals to get an engagement, something could be wrong. Generally, a mid-range agent will need between three and five proposals to get hired by a client.

Closed Listing Ratio
For some agents in some markets and property types, it’s possible to close 100 percent of listings. However, an occasional expiration is a fact of life, especially if you’re out there fighting to get maximum value for your commercial real estate clients. Taking listings that expire might get your name out there and might give you ammunition to contact more prospects, but they can do more harm than good. Not only do you end up spinning your wheels on deals that don’t sell, but you also build a brand for yourself as an agent that can’t do what he says. Keeping your closed listing ratio between 75 and 85 percent is a good guideline, and higher is better.

Calculating – and tracking – your ratios will let you see how you progress in your commercial real estate business. If you have a method for improving your effectiveness – or a ratio that you find useful – let us know below in the comments section.

Authored by Solomon Poretsky, Vice President of Organizational Development for Sperry Van Ness International Corporation.

*All Sperry Van Ness offices are independently owned and operated.

5 Trends That Will Affect Everyone's Business

The following is a write-up of the speech given by Diane Danielson, COO, of Sperry Van Ness International Corp. at the 2014 Sperry Van Ness National Conference in San Antonio, Texas.

1. There are lots of different kinds of smart … and you probably have them all in your office.

For the first time in history we have up to four generations all working in a single office. This means that we have four completely different frames of reference for every issue, project and solution. When harnessed in the right way, this can yield truly innovative results; but it can also mean a lot of miscommunication in the short-term.

The chart below can help put the situation into proper perspective. The first thing you should notice is that the number of Millennials (also known as Gen Y) dwarfs the Generation X’ers, and eclipses the Boomers. So, if my fellow Gen X’ers (a/k/a the “Sandwich Generation” because we are often taking care of our parents and kids at the same time) ever felt ignored and outnumbered, you weren’t imagining things.

1925-1945* Silent Generation 50 million** Neil Armstrong
1946-1964 Baby Boomers 76 million Jobs/Gates (PCs)
1965-1979 Generation X 41 million Page/Brin (Internet)
1980-2000 Millennial (Gen Y) 80 million Zuckerberg (Mobile)

*Generational breakdowns follow the Pew Internet Research Project’s breakdowns.
**Exact numbers are hotly debated but within +/- 5 million.

How do you increase the productivity of an intergenerational office? By understanding the basis for the different viewpoints. For example, consider how the four generations were introduced to the computer.

  • The Silent Generation experienced the era where computers were something NASA used to put men like Neil Armstrong on the moon.  They were scientific tools used by governments and research universities to further discovery and explore new worlds.
  • It wasn’t until Baby Boomers Steve Jobs and Bill Gates came along, that computers became personal for use at the office and at home.  For both the Silent Generation and the Boomers, the computer was a powerful machine that could process enormous amounts of data.
  • Gen X’ers Sergey Brin and Larry Page, founders of Google, and Wikipedia founder, Jimmy Wales, were the ones who helped usher in the Internet as our “go to” research tool. For their generation, the computer became the gateway to user generated content and endless information.
  • Finally, Mark Zuckerberg and his Millennial cohorts transformed the internet into a communication source that we could take with us wherever we go.

Four different viewpoints, yet they reflect cumulative knowledge that complements and builds upon each other.

Many of us will have at a minimum 2 or 3 of the above generations in our offices. A team or company culture that respects, learns from, and is able to manage the different viewpoints and knowledge base will ultimately be the most productive.

2. Millennial life choices will affect us all.

As noted in the above chart, there are 80 milllion Millennials. Like any generation, they have their  unique traits. The only difference  is that even if only 1/3rd of Millennials do “something,” that is equal to nearly 60% of Generation X, in other words a majority. We can’t afford to not pay attention. In particular, here are a few major trends that we are seeing from Millennials with far reaching effects on businesses.

Millennials are in no rush to learn to drive.

This might seem strange for those of us who couldn’t wait to get behind that wheel at age 16. For many of us, a driver’s license meant freedom. But for this generation, it’s not as compelling. Below are a few of the reasons:

  • They are broke. Recession, unemployment, and student loans make owning a car out of reach for many in this generation.
  • Their overprotective parents drive them everywhere.
  • They can Facetime, xBox, Snapchat and Instagram with friends without having to leave their home: their freedom is the Internet.
  • They can experience the thrill of driving through virtual reality video games.

How does this affect businesses? This could be a tough situation for car manufacturers and dealers as well as the businesses dependent on them like commercial real estate. Not only will they sell less cars, they will need less cars on their lot. Unless they put a Starbucks in their showroom, they’ll be getting less foot traffic and test drivers. Even when this generation gets around to buying cars, they will do everything short of smelling the leather online through virtual show rooms. (Although, that can likely be accomplished too, as there is now a new alarm clock bacon app for iPhones.)

Millennials are living at home longer and delaying marriage

The rise of the stay at home Millennial is similarly driven by the economy and the burden of student debts. Add to this the fact that more Millennials are attending college than any generation before, and they are understandably delaying marriage and the natural progression of having kids and moving to the suburbs.

For more visit: http://www.pewsocialtrends.org/2014/03/07/millennials-in-adulthood/

When these non-driving Millennials eventually move out, they are relocating to urban areas where they don’t need cars because they have public transportation or car and ride-sharing services like Zipcar and Lyft. This is why we will see suburban areas attempting to emulate the benefits of city living, and of all the suburbs, it will be the “urban ring” areas that will experience the most stability.

In the short-term, before the Millennials all move out, we will see a rise in “adaptive” housing, where home improvements are not made for resale but so extended families can live together. Currently 22% of households have more than two adult generations living in them, a level not seen since the end of World War II.

You can read more on how demographic trends are affecting housing in Leigh Gallagher’s The End of the Suburbs.

3. Not Open, but Adaptive Office Space

Let’s put an end to the open versus closed office floor plans debate. It’s not one or the other; it’s both.  The space that will work for most companies is going to have to be adaptive. However, it’s doesn’t adapt to a position, or an individual.  Office space needs to adapt to the workflow.  At different parts of the day, individuals could be working on teams, need a whiteboard, require quiet or private space or simply a change of venue.  Today’s workspaces need to be fluid and allow for transitions and flexibility, especially with a multi-generational workforce.

4. We Live and Work in a Multiplex 

Remember the days when our desks were clean and the computer off to the side? Now our desks are littered with screens. Here’s a screenshot of my home office desk on a recent weekend. The only screen that is missing is my iPhone, which I had to use to take the photo.  Why so many screens? Different devices have different uses. While my iPad mostly gets used for binge watching my favorite shows when working on weekends, I also use it to Facetime or Skype with my son or colleagues.

It seems I’m not alone. A recent survey by Facebook for Business found:

  • 60% of online adults in the US use 2+ devices/day
  • 25% use 3 devices
  • >40% of online adults start an activity on one device only to finish it on another.

We did our own survey of Sperry Van Ness® advisors at our National Conference and found that 80% of our advisors use 3 or more devices in a single day.

Now we are adding wearable technology like Google Glass as an additional screen. It’s likely our fully developed adult brains will not be able to adapt well to the multi-tasking required by life in a multiplex, but it’s possible that future generations’ brains will evolve in a way that they will be better able to process multiple feeds and the flow of information from device to device.

5. Quantitative v. Qualitative

We now live in a society where we measure everything.  Why? Because what gets measured gets done. Take the Fitbit story.  FitBit is a bracelet that tracks everything from steps taken in a day to optimal sleep patterns. Fitbit uses technology and your network to keep you accountable and promote optimal behavior.  The FitBit philosophy is simple:

  • Every day steps add up to impact.
  • Stay connected, stay motivated.
  • Make health a habit one day at a time.

This FitBit philosophy is something we can all take with us into our businesses  You simply determine what you need to measure in order to produce the outcomes you want … and stick with it.  In other words, it’s the same philosophy as Moneyball. Find the stats that matter most and you can turn the right team, no matter what generation, into winners.

2014 CRE Market Outlook

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*All Sperry Van Ness® offices are independently owned and operated.

SVN Hosts CRE Place-Making Symposium

David Wilk,
David J. Wilk presenting at SVN’s CRE Place-Making Symposium

In December of 2013, David J. Wilk, CRE, MAI, Council Chair of Corporate Real Estate Advisory Services for SVNIC, partnered with SVN/Miller Commercial Real Estate to host a “Place-Making Symposium” at the Salisbury University Perdue School of Business. The event consisted of two panels that presented strategies to create economic development and jobs in the region through innovative real estate branding and marketing initiatives.  Maryland State Senator, Jim Mathias, was on hand to open the event and speak to the Eastern Shore opportunities.

To read the press release in its entirety, click here.

*All Sperry Van Ness offices are independently owned and operated.

 

George Slusser & Karen Hurd Attend ICSC New York National Conference 2013

George Slusser, Chief Growth Officer, and Karen Hurd, National Sales Director, represented Sperry Van Ness International Corporation at the International Council of Shopping Centers (ICSC) New York National Conference December 9–10 in New York, NY. An annual deal-making event, ICSC NY is a great opportunity for brokers, owners, developers and lenders to make deals and forge relationships.

Below we’ve interviewed George Slusser about his experience at the conference and his top takeaways.

SVNIC: George, why is it important to attend The ICSC New York National Conference?
George: The ICSC regional event in New York is second only to the annual RECon event in Las Vegas for its size and scope. Nearly 8,000 developers, brokers, vendors and retail company representatives were in attendance. ICSC combines a training and educational component with a very robust “deal making” opportunity.  Most of the major players in the industry are in attendance and our presence is important to develop deal flow and continue to promote awareness.

George Slusser, SVNIC's Chief Growth Officer, at the ICSC New York National Conference
George Slusser, Chief Growth Officer, at SVNIC’s booth at the ICSC New York National Conference

SVNIC: Share your best takeaway from the event for our Advisor team.
George:  There was a lot of activity in our booth as the traffic was very consistent. The SVN Advisors that were able to attend walked away with some very solid leads on buyers for specific properties they presented. They also created new potential business relationships that will lead to increased opportunities and closed transactions.

SVNIC: How did the Sperry Van Ness booth fare?
George:  We had over 100 visitors stop by the booth many looking to acquire property along the Eastern Seaboard. We have many leads and contacts that were established by the SVN Advisors that attended and we even have a few to forward around the country. The atmosphere was very positive and there were a lot of people in “deal making” mode.

SVNIC: We’re looking to expand, were you able to meet quality franchise prospects?
George: We had serious conversations with a number of quality individuals that were interested in the Sperry Van Ness platform. We met candidates who may join an existing office and others wanting to facilitate our aggressive North East expansion plans as a potential franchisee. We had traditional brokerage firms and property management firms requesting additional information on our value proposition and new PM offering.  Some who came by the booth had already visited svn.com and viewed our informative franchise site in advance.

 

*All Sperry Van Ness offices are independently owned and operated.

Diane Danielson & Karen Hurd attend CREW Network Convention 2013

Diane Danielson, Chief Platform Officer, and Karen Hurd, National Sales Director, represented Sperry Van Ness at the annual CREW Network Convention & Marketplace October 9–12 in Dallas. Along with more than 1,000 real estate firms from across the country, attendees came together to shape the future of the industry and focused on this year’s theme–“The Power of Perspective.”

Below we’ve interviewed Karen Hurd about her experience at the conference and her top takeaways.

SVNIC: Karen, why is it important to attend The CREW Conference?
Karen: CREW Network is one of the CRE industry’s premier business networking organizations dedicated to advancing the achievements of women in commercial real estate. Personally, for me, the annual CREW Network Convention is a great opportunity to network, exchange ideas, refer deals, gain knowledge, hear from top industry professionals and collaborate with over 1000 CRE women and key decision makers from all over the country.

SVNIC: Share your best takeaway from the event for our advisor team.
Karen: My greatest takeaway from the convention is “The Power of Perspective” and how it shapes and impacts your life and your career as well as your future in commercial real estate. Always remember that perception creates reality. Take a look at my personal objectives that we post on the CREW 2013 Network Convention website.

Other great takeaways–get involved in a committee and building relationships in your local CREW Chapter. You may be surprised how easy it can be to find new business opportunities.

SVNIC: What was your favorite session?
Karen: That’s a tough one! There were so many great sessions at CREW. The Marketplace Opening Night Reception is always my favorite because of the energy and buzz that fills the room–you can see and hear about deals in the works and the strong desire to do business. The Impact Awards Dinner this year was especially outstanding as it touched home to me. I had the privilege to see fellow Boston NEWIRE members recognized for their Economic and Community Involvement for their roles in revitalizing the Dudley Square project in Roxbury, MA. It has been one of Boston Mayor Thomas Menino’s top priorities in recent years and is now well underway. Outstanding!

SVNIC: Who was your favorite presenter and why?
Karen: Barbara Corcoran for sure. She has a great story to tell. I do appreciate her candor and honesty. She is driven, shares great life lessons and her business savvy and work ethic is inspiring to me.

Diane Danielson and Karen Hurd attend the 2013 CREW Network Convention & Marketplace
Diane and Karen pictured with members of NEWiRE Boston, who also attended the conference

Diane and Karen pictured with members NEWiRE Boston, who also attended the conference

SVNIC: How did the Sperry Van Ness booth fare?
Karen: Exceptionally well. As SVN looks to grow in new markets in 2014, having a presence in the Marketplace was huge for us. With over 500 visitors to our booth alone and back-to-back appointments, the SVN Difference became known and we definitely “got the word out”. We were also searching for CREW Members to consider joining an existing SVN team or consider establishing their own franchise in a market where we do not have a presence. There were many CRE Brokers and Property Managers asking us a lot of questions! It was also great to hear about stories of collaboration with SVN Advisors in the field. One woman had recently done over a $10+ million deal with one of our advisors out of Salem, OR as a result of attending the Portland Oregon Regional Conference.

SVNIC: The theme of this year’s conference was–“The Power of Perspective?” What does this mean and how can we apply it to everyday CRE?
Karen: When you claim your power to perceive, you realize you have the ability to shape your life. Knowing how you want to be perceived is key to all your relationships and how you will communicate with others in your personal as well as professional life. When you have an intention, you can make decisions that will drive you closer to achieving that goal. What is your intention? You should always know the answer to this.

How you communicate with others and how you are perceived by others will impact business decisions. This can be a game changer for us all in all of our CRE careers. Always be mindful of what the person sitting across from is hearing from you and what their perception is. You have the power to create perception!

 

*All Sperry Van Ness offices are independently owned and operated.

Les McKeown Talk at the Inc. 500 | 5000 Conference

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Les McKeown, President & CEO of Predictable Success

SVNIC was recently honored for its remarkable achievements and being one of America’s fastest-growing privately held companies at the Inc. 500 | 5000 Conference in Washington DC on October 10-12. Always a crowd pleaser, Les McKeown, best-selling author (Predictable Success: Getting Your Organization On the Growth Track – and Keeping It There) and builder of more than 40 start-up organizations worldwide, gave a powerful talk to thousands in attendance at the Gaylord Convention Center. McKeown focused on the 4 stages every business goes through in a comedic, yet insightful presentation.

These stages, include:

    1. Early Struggle
    2. Fun
    3. White Water
    4. Predictable Success
    5. Treadmill
    6. The Big Rut

Les_McKeown 1

 

He also pinpointed key leadership roles in every organization and his/her characteristics. Definitely worth the read! For more information about McKeown’s speeches, his successful organizations and more, go to Predictable Success.

 

 

*All Sperry Van Ness offices are independently owned and operated.

CRE Tech Talk Denver

More than 40 advisors from across the nation attended our “Tech Talk Denver” on Thursday evening, October 24. The event preceded the 2013 CCIM Live Conference.  Diane Danielson, CPO, Bo Barron, CCIM and Karen Hurd, Sales Director spoke about how the SVNIC team leverages the latest technology for profitability. They touched upon the importance of establishing an online presence and credibility using social media. Advisors from the following states were represented: CO, KY, MD, AZ, CA, OR, IL, GA and MA. Great insights, food and drink were had by all. Many thanks to those who attended.

CRE Tech Talk Denver

Sperry Van Ness was also a sponsor of the CCIM conference. See our Facebook page for photos by clicking here.

 

*All Sperry Van Ness offices are independently owned and operated.

SVNIC Exhibiting at CCIM Live Conference in Denver, Colorado

Sperry Van Ness International Corporation is a sponsor and exhibitor at the upcoming 2013 CCIM Live Conference. This 2-day event will be held October 25 & 26 at the Sheraton Downtown Hotel in Denver, Co. Learn from seasoned experts as they share their secrets to success in today’s CRE market. In attendance from SVNIC will be Diane DanielsonGeorge SlusserBo Barron and Karen Hurd.

CCIM-Live-Invitation

*All Sperry Van Ness offices are independently owned and operated.

Join SVNIC at the CRE Tech Tools Seminar in Denver, Colorado

SVNIC will also be hosting a live “CRE Tech Tools” seminar on Thursday, October 24th in Denver, Co. Come join us for tech talk and complimentary cocktail reception and learn more about how you can use LinkedIn, Twitter, online publishing, CRM and other tools to grow your business as well as learn about the Sperry Van Ness® franchise platform. For additional details or to register, CLICK HERE.

TT Seminar

*All Sperry Van Ness offices are independently owned and operated.

SVNIC Exhibiting at the 2013 CREW Convention & Marketplace

The 2013 annual CREW Network Convention & Marketplace will be held October 9-12 at the Omni Hotel in Dallas, Tx. This 3-day event offers industry professionals access to top speakers, educational sessions, leadership training and industry exhibitors.

Sperry Van Ness International Corporation will be an exhibitor at the marketplace event at this year’s convention. This event is dedicated to networking, doing business, and sharing innovative ideas. In attendance from SVNIC will be Diane Danielson and Karen Hurd.

CREW Invite

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*All Sperry Van Ness® offices are independently owned and operated.

Sperry Van Ness Western Regional Conference 2013

Portland, Oregon–More than 70 advisors, managing directors and operational staff came together September 11 and12 for an insightful Regional Training session. The event was produced by regional franchisees and organized by Curt Arthur, SIOR, Managing Director Sperry Van Ness, Salem, Oregon and his amazing team Meghan Salinas and Christy Bailey.

The corporate team was pleased to be in attendance and kicking off the events was Sperry Van Ness CEO and President, Kevin Maggiacomo. Other speakers included–Diane Danielson, Chief Platform Officer, who revealed exciting new technology advances that the company will be using in the near future. Bo Barron, Vice President of Development, spoke to using key performance indicators and using peer accountability for improved performance and profitability. From specialized break out sessions (delivered by regional managing directors, including: Karlin Conklin, Tom Hoban, Neil Sherman and Steve Kawulok and Vice President, Tony Yousif) to guest speakers and market updates, this training session covered it all.

A special thanks to Curt Arthur, and his team for producing a topnotch event enjoyed by all in attendance.

*All Sperry Van Ness offices are independently owned and operated.

Smart social media moves for commercial real estate professionals by Diane Danielson

Diane Danielson
Diane Danielson, Chief Platform Officer at Sperry Van Ness International Corporation

Diane Danielson, Chief Platform Officer at Sperry Van Ness International Corporation, recently shared her top (and smartest) social media tips for commercial real estate professionals in a guest blog post on GlobeSt.com (the website dedicated to all things real estate).

Diane recommends several smart social media moves, among them:

1. Use Twitter like a pro and search for relevant hashtags like #CRE and other industry terms.

2. Create customized lists of people so you can make sure to read their tweets and add that stream to a Twitter client such as Hootsuite.

3. Make the most of LinkedIn’s beefed up company pages by following important companies in your area (including your competitors).

Read Diane’s smart social media insights in the Globest.com article here.

*All Sperry Van Ness offices are independently owned and operated.

Commercial real estate activity growing in Nevada County, CA

Managing Director, SVN/Highland Commercial
Managing Director, SVN/Highland Commercial

In the Q2 2013 report from Lock Richards, managing director of Sperry Van Ness Highland Commercial in Nevada City, CA, we learn that overall real estate activity in Nevada County has increased, especially in contrast to the previous quarters.

Lock Richards is sharing his  commercial real estate expertise with readers of The Union newspaper in a monthly column. The new column  made its debut on July 19,  and says that now is a good time to buy or lease commercial property in Nevada County. Lock writes:

“The good news is that the difference in the level of activity during the last three quarters (since fourth quarter 2012) is in extreme contrast to the previous four recessionary years. I believe the majority of investors and tenants have now come to realize that the timing is perfect to purchase or lease commercial property. Add to this still historically low financing rates and plentiful debt and equity sources, and today’s market could not be much better for buyers and tenants. That said, with numerous bank-owned and other distressed properties closing in Q4 2012 and Q1 2013, from a pricing standpoint we remain at the bottom of the market, even with the increasing activity levels. Barring an unforeseen macro-economic event, we predict slowly increasing prices over the next two years in most commercial property types.”

 

*All Sperry Van Ness offices are independently owned and operated.

Bo Barron’s advice for success featured in Commercial Investment Real Estate

What skills, knowledge and tools does a commercial real estate adviser need to succeed?   That is what Commercial Investment Real Estate (the magazine of the CCIM institute) wanted to learn from Bo Barron, CCIM, vice president for organization development at Sperry Van Ness International Corporation (SVNIC).

Tenacity, systemization and accountability

Bo Barron, VP of Organization Development
Bo Barron, Vice President of Organization Development at Sperry Van Ness International Corporation

Bo, who served in the U.S. Marine Corps before pursuing his real estate career, discusses how tenacity and the other skills he learned in the service, such as systematization and accountability, have helped him to succeed. He says: “I am convinced that tenacity is the most important trait required to succeed in commercial real estate.”

Prospect on a daily basis

Bo, who works with SVNIC’s advisers to raise their productivity and profitability, also shares what sets top producers apart: “My experience has also taught me that top producers must systematically prospect on a daily basis,” because “those who consistently prospected throughout the downturn [in 2008] have continued to succeed.”

Embrace new technologies

“Social media platforms such as Twitter and LinkedIn as well as blogs have made it possible  for CCIMs to become known as market experts and thought leaders faster than ever,” said Bo, who blogs at www.bobarron.com, and who joined SVNIC because of its emphasis on technological innovation, among other things.

Read the entire interview in the July/August 2013 issue of Commercial Investment Real Estate magazine.

 

*All Sperry Van Ness offices are independently owned and operated.

New franchisee SVN/Renaissance Commercial brings vision for major growth in the OC

Sperry Van Ness/Renaissance Commercial, which serves the fast-growing Orange County and the “Inland Empire,” is SVN’s newest franchise office. The group, which is headquartered in Irvine, CA, has plans for additional locations in Palm Springs, Riverside, Ontario, and Temecula/Murrietta.

SVN/Renaissance Commercial is led by Darrell Hoover and Michael Gustafson. After six years in the National Football League, Darrell Hoover began his ascent in real estate in 1975, with the creation of Hoover Advertising, an advertising, marketing, and PR firm that included some of the largest residential home builders in the country. He later became a direct leader in the homebuilding industry, as president of Beazer Homes’ Southern California division from 1991 to 1996. During that time, Beazer Homes went public (NYSE: BZH) and became the sixth largest homebuilder in the United States. Following the economic downturn in 2008, Hoover founded CrissCross Solutions, bringing together real estate veterans to help banks and other investors with property repositioning, work-out situations, and asset protection.

With an already well-established presence in Southern California, Hoover and his team of top brokers at SVN/Renaissance Commercial are now poised to seize a major piece of the region’s exploding growth in commercial real estate, including the retail, industrial, high-end apartment, office, and recreational markets. Hoover’s fellow Managing Director, Michael Gustafson, will serve as a leader on many of the property types. The 28-year industry veteran will also help direct all franchise operations, asset services, and property management. An accomplished broker, developer, and contractor, Gustafson previously directed numerous companies including VP Commercial, Vision Offices, and Victoria Properties where his talent resonated through his properties winning numerous national and local awards.  Michael was voted developer of the year three consecutive times by AZ Business Magazine.

 “I’m continually blown away by the smart tools, the knowledge base and the entrepreneurial and collaborative spirit of SVNIC,” said Darrell Hoover. “I like to say that SVNIC is high tech – but also high touch. The passion and commitment for doing what’s best for the client exists at all levels.”

 “SVN/Renaissance Commercial brings a unique combination of experience and fresh perspective to the next generation of Sperry Van Ness® leadership in Southern California,” said SVNIC President and CEO Kevin Maggiacomo. “We’re thrilled to have the enthusiasm of Darrell Hoover and his team, as they look to build a Sperry Van Ness brokerage presence that’s stronger than it’s ever been in this part of the country.”

For information on becoming a Sperry Van Ness franchisee, click here.

 

*All Sperry Van Ness offices are independently owned and operated.

 

How the Northern Colorado CRE Market is Doing–a Q2 Report

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Steve Kawulok, managing director, SVN The Group Commercial, Fort Collins, CO

Recession recovery is continuing at a higher pace in the Northern Colorado commercial real estate market, says Steve Kawulok, managing director of Sperry Van Ness The Group Commercial in Fort Collins, Colorado.

The Northern Colorado market, which encompasses the three counties of Boulder, Larimer and Weld, had an improving outlook for the second quarter of 2013. Among the signs of recovery and strength were:

  • Market sales of property went up ;
  • Retail properties  did the best;
  • Office properties gained momentum with the vacancy rates going down and rental rates on the uptick;
  • Investors are still active in this market.

For a complete picture of the Q2 activity in Northern Colorado, including significant commercial real estate transactions, read Steve’s Q2 report here.

*All Sperry Van Ness offices are independently owned and operated.

Central Florida Commercial Real Estate is Jumping

The Central Florida commercial real estate industry is recovering nicely from the recession reports The Orlando Business Journal in its June 28 edition. Some sectors are doing better than others, with industrial and retail leading the way. The office sector continues to struggle with high vacancy rates, however.

Miguel de Arcos, Managing Director, Sperry Van Ness Florida Commercial Real Estate Advisors
Miguel de Arcos, Managing Director, Sperry Van Ness Florida Commercial Real Estate Advisors

The article reports there are five game-changers for the Central Florida commercial real estate market:

  1. Office market has changed for the good, since companies are doing more with less.
  2. Financing is available from different sources to fund to new projects.
  3. Industrial real estate will see an improvement.
  4. Orlando is attractive to national firms.
  5. The SunRail will help boost the region’s attractiveness.

The market’s recovery can be evidenced in the spectacular increase in total dollar volume experienced by Sperry Van Ness Florida Commercial Real Estate Advisors. With $73.2 million in total dollar volume in 2012, Sperry Van Ness Florida jumped from the number 16 position to number 8 position on the Orlando Business Journal’s  List of Top Commercial Real Estate Brokerage Firms.

In discussing the current commercial real estate environment with the Orlando Business Journal, Miguel de Arcos, managing director of SVN Florida, says he likes the long term prospects in the Central Florida area due to the booming entertainment, biomedical and high-tech markets in the region.  Miguel says “We have land and reasonable costs for real estate….Once folks realize we’re not a just a Mickey Mouse economy down here, it’s going to help.”

 

*All Sperry Van Ness Offices are independently owned and operated.