A Statement On Ukraine from Kevin Maggiacomo, SVN President and CEO

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Memphis, TN | 2016 Top #CRE Markets to Watch: Industrial

SVNIC’s 2016 Market Outlook Reports assess the current state of the national commercial real estate market, and identify micro-trends within specific geographic regions and industries for 2016. Today we are delving into the 2016 Top Industrial Markets to Watch. Not the largest or the most actively contested markets, the 2016 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: Memphis, TN

Memphis - top industrial market to watchThe Memphis economy has been slowly growing and recovering since the recession and stands today with 5.6% unemployment as of January ‘16, with modest annualized job gains of 1.7%, according to the Bureau of Labor Statistics. Its strongest industrial segment and in fact strongest employment segment overall is Trade, Transport, and Utilities, which is expanding at an annualized rate of 4.2%. Manufacturing is also adding jobs at 0.7%. Given that Memphis is located in the approximate population weighted center of the country, it is an ideal location to serve for e-commerce and other direct to consumer distribution businesses. Thus, the Memphis industrial market may be one of the largest benefactors of the rise of online shopping and will likely continue to expand in 2016 and beyond.

Stay Updated…

Over the next few weeks, the SVN Blog will be featuring posts that will focus on each of the top markets to watch for industrial, multifamily, office, and retail properties. SVN Advisors from selected top markets have provided their industry expertise regarding what to look out for in their specific market in the coming months. Don’t miss out on these important insights – subscribe to the SVN Blog on the right side of the blog homepage.

To read more on other top industrial markets, download the full version of the 2016 Industrial Market Outlook report here.

2016 Industrial Market Outlook

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Five for Friday: A lesson in real estate taken from West Point

Learn how a West Point education is still helping John Snyder, CPM, SIOR, with his business at Sperry Van Ness/Investec Realty Services today in this week’s Five for Friday blog.

John Snyder, CPM, SIOR, managing director at Sperry Van Ness | Investec Realty Services
John Snyder, CPM, SIOR, Managing Director at Sperry Van Ness | Investec Realty Services

1. What is your geographic market and product specialty?

Our firm has offices in both Memphis and Nashville, Tenn., serving those regions as well as areas of Mississippi.  We service a variety of clients from large institutional owners of office parks to local investors and regional banks.  On the tenant representation side, our clients range from Fortune 100 firms with needs of 275,000 square feet to small not-for-profit organizations.  Due to our SVN affiliation, we have been able to partner with other SVN professionals to add value to our clients’ portfolios.  We also offer property management and consulting services.

 

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

As referrals and relationships are the focus of our business, we strive to develop personal relationships with our clients.  Being in a smaller market and providing a wide range of real estate services, establishing that personal relationship is paramount to our business.  We also try to qualify our clients early in the process, following Patrick Lencioni’s Getting Naked business fable. When we match with our clients, our successes expand and referrals grow.

 

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

With the explosion of real estate information that is readily available to clients, we are faced with a re-education and prioritizing of data that is germane to a successful transaction.   The experienced, knowledgeable, ethical real estate professional who continues to study,  improve skill sets, and collaborate will remain a sought after advisor from the owners and users of real estate.

 

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

Napoleon Hill’s Think and Grow Rich is a basic primer for personal development and goal setting and it has never failed me! John C. Maxwell offers a library of leadership and team development education.  His latest, Everyone Communicates, Few Connect provides invaluable techniques for business practice improvement. Lencioni also has several books that help with improvements in teamwork, consulting, leadership, and personal development, including Death By Meeting.

 

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

Here’s a few.  I learned to accurately determine distances for measuring real estate (office buildings and golf courses) while walking more than 50 hours of punishment tours prior to graduation from the United States Military Academy at West Point.  As a U.S. Army Corps of Engineer officer, I was qualified to both jump out of perfectly good aircraft and deploy and detonate tactical nuclear devices.  For fun, I continue to officiate soccer matches at the collegiate, high school, and youth competitive levels.  With more than 2200 matches completed, I have run farther than Forrest Gump – and I appreciate all the unsolicited advice and expertise provided by the uninformed coaches, players, and spectators!

 

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