SVN Specialty Awards: Ambassador of the Year – Alex Ruggieri

Posted on March 25, 2016 by SVN

Recognizing the SVN Difference with Specialty Awards

If you read my recent blog post about the SVN Annual Conference highlights, you know that the SVN Specialty Awards recognize members of the SVN community who have distinguished themselves in 2015 by making significant impacts on the commercial real estate industry and beyond. The awards – which included Team Player of the Year, Ambassador of the Year, Collaborator of the Year, Trainer of the Year, Humanitarian of the Year, Prospector of the Year, Innovator of the Year, and Firm of the Year – looked beyond production results and instead focused on culture. The winners of this year’s SVN Specialty Awards each embody traits that the SVN culture values immensely: practicing collaboration, cooperation and conscious capitalism while excelling in commercial real estate.

SVN Ambassador of the Year 2015 – Alex Ruggieri

What can we say about Alex Ruggieri? Not only does he dress the part of an impeccable Ambassador – he is out there online and in person representing SVN on his radio show, at CCIM conferences and with clients around the country. Recently he’s been working with David Wilk on some leading-edge corporate service projects as well. He’s been a Partners Circle winner for four years in a row – from 2012 through this year. This is his second time winning the prestigious Ambassador of the Year award, as he also received this honor in 2013.

Alex Ruggieri serves as a Senior Advisor for SVN | Ramshaw Real Estate, Inc., specializing in the sale of investment properties and corporate relocations in Champaign- Urbana and Central Illinois. With more than 30 years of commercial real estate industry experience, he has built an array of valuable business, real estate, and banking community contacts that benefit his clients. He has secured a transaction career sales volume in excess of $500 million.

The SVN blog will be featuring one SVN Specialty Award winner every week for the next few weeks. Subscribe to the SVN blog on the right-hand column of the blog homepage to stay up to date with SVN and CRE industry news.

Chicago, IL | 2015 Top #CRE Markets to Watch: Office

Posted on July 9, 2015 by SVN

Sperry Van Ness International Corporation’s (SVNIC) 2015 Market Update Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Office Markets to Watch. Not the largest or the most actively contested markets, the 2015 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, IL

The transformation of Chicago’s River North submarket echoes the metamorphoses of many up-and-coming submarkets in the United States. With an eclectic mix of industrial-era warehouses and lofts, plus plenty of bus and subway connections, effective rents in the submarket have spiked since 2012, following a path similar to Manhattan’s Midtown South tech district. Tech companies like crowd-sourced reviewer Yelp, online coupon provider Groupon, online payment processor Braintree, and the digital marketing division of McDonald’s, are located in buildings like the Reid Murdoch Center, a former food-processing plant, and the Mart, an Art Deco warehouse that formerly housed Marshall Field. Several of Chicago’s other submarkets are also recasting themselves, with the Fulton Market area leading the pack. The former Fulton Market Cold Storage warehouse (now flagged as 1kFulton) was repositioned as more than 500,000 square feet of office space, headlined by tenants like Google, tech incubator Sandbox Industries, and Chicago-based bicycle component producer, SRAM Corporation. Several projects, including boutique hotels, restaurants, and retail spaces, are now underway around 1kFulton, vying for locations proximate to Google’s Midwest regional headquarters. While traditional business stalwarts still prefer the Loop, there are many rapidly improving submarkets in downtown Chicago that are offering compelling opportunities for small- and mid-cap investors.

To read more on Chicago and other top office markets, download the full version of the 2015 Office Market Update report here.

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 franchisors with more than 180 locations in 200 markets.

Chicago, IL | 2015 Top #CRE Markets to Watch: Industrial

Posted on July 7, 2015 by SVN

Sperry Van Ness International Corporation’s (SVNIC) 2015 Market Update Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2015. Today we are delving into the 2015 Top Industrial Markets to Watch. Not the largest or the most actively contested markets, the 2015 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: Chicago, IL

The nation’s largest industrial market in terms of inventory, Chicago is also one its strongest. Vacancy rates have been declining consistently for over three years, reaching 6.5% in the first quarter of 2015 according to Chandan Economics’ tracking of mortgage-financed properties. Lower vacancy rates and one of the strongest rates of asking rent growth in the country have prompted an increase in development activity. Investors should not be too concerned about the nearly 10 million square feet of space under construction as of early 2015, almost half of which is spec. While that level of activity could overwhelm a smaller market, it represents less than 1% of Chicago’s massive inventory of industrial space.

The drivers of demand for space in the Windy City and its surroundings are as varied as the region’s economy. Warehouses, logistics, distribution, and fulfillment centers, as well as flex space and data centers are all benefiting from growth in demand. Investors may be frustrated by the degree of competition for high quality assets. Prices reflect the market’s prospects, with cap rates falling to below 6% in 2014 and early 2015.

To read more on Chicago and other top industrial markets, download the full version of the 2015 Industrial Market Update report here.

It’s a different world out there.

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

Posted on September 26, 2014 by SVN

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

Elevated 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.

Download the Top Trends and Markets to Watch Reports

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
Apartment Trends and Markets to Watch

5 for Friday with Jimena Sayavedra of Sperry Van Ness Chicago Commercial

Posted on May 2, 2014 by SVN

This week, our 5 for Friday features Jimena Sayavedra, an Associate Advisor with Sperry Van Ness Chicago Commercial based out of Chicago, Illinois.

Jimena Sayavedra | Associate Advisor |SVN Chicago Commercial

1. What is your geographic market and product specialty?
My geographic focus is Metropolitan Chicago industrial corridors and my product specialty is Industrial sales and leasing.

2. What’s your latest best practice tip that you can share?
I believe that targeted well-planned networking is a very powerful tool to grow connections not only for career advancement but especially to grow our real estate practice. Either face-to-face networking or via social media, It creates opportunities to initiate conversations to connect with people and discuss problems and solutions with sellers, buyers, landlords, and tenants.

Another foundation of any real estate practice is cold calling, which goes hand-and-hand with networking, since both require excellent communication skills, industry knowledge and confidence. Tackling these two tasks I think are fundamental steps to develop and maintain a strong database of clients, which is the groundwork for my practice as a commercial real estate advisor.

3. What’s been the biggest change over on how you run your business in the past decade?
Since I am newer to the brokerage business, I would say definitely social media is a game changer in all that we do. It makes us more efficient because it allows us initiating or following up on connections and relationships with more people. For us in the commercial real estate business, it is a great advantage to connect digitally with members within companies, groups, associations where we can start conversations and find leads. I think it is a great complement to the permanent cold calling that is part of our daily practice.

I am now focusing on prospecting and will follow with developing my “presence.”

4. What business book do you like to recommend to your colleagues?
“Lean In” by Sheryl Sandberg. I think Sandberg with this book has opened up so many issues related to women and work and how women tend to hold back when we actually have everything to succeed in the business world and bring more women to leadership positions. I think a lot of what she says in her book is very applicable to women in the male dominated real estate sector, where we women bring skills that add great value to this profession.

5. What’s a fun fact that not everyone knows about you?
I am a marathon runner, I have completed 18 marathons, including 2 Boston, 10 Chicago, 1 New York among others. I just finished Boston.

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

Five for Friday: The collaborator who puts 'multiple eyes' on listings

Posted on April 26, 2013 by SVN

Neil Johnson of Sperry Van Ness/Landmark Commercial Real Estate in Geneva, Ill. talks about the benefits that come with the team approach – and the move from hitchhiker to advisor in this week’s Five for Friday.

Neil Johnson, managing director/broker at Sperry Van Ness / Landmark Advisors

1. What is your geographic market and product specialty?

The focus of my brokerage work for 15 years has been in Kane County, Ill. and the surrounding suburban areas about one hour west of downtown Chicago. As an office, our advisors handle retail, office, and industrial properties – plus vacant land. We do quite a bit of leasing, which has created relationships for some of our best investment sale opportunities.

2. What’s your latest best practice tip that you can share?

Collaboration on listings with the other advisors in my office has proven to be particularly productive. There are many benefits to the team approach, including better service to our clients. We get the benefit of multiple eyes looking at each stage of the listing or transaction. It is also more fun to work as a team.

3. What’s been the biggest changeover on how you run your business in the past decade?

We are trying to be more selective on the quality and size of opportunities that we take on. Otherwise, it is too easy to race around chasing every small deal that turns up. We are working hard to increase our focus on investment sales, and larger lease deals, especially now that the market is picking up again.

4. What business book do you like to recommend to your colleagues?

I try to spend some time reading the Bible every day. Scripture can be helpful in addressing the challenges of human relationships.

5. What’s a fun fact that not everyone knows about you?

In my early 20s, I hitchhiked more than 20,000 miles, across the U.S. and Europe. To the casual observer, I’m sure I appeared to be a typecast hippie.

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