James Blake, CCIM, Managing Director for SVN/Summit Commercial Realty, recently received the 2013 Charles D. Tandy Commercial Realtor award, the top honor of the Society of Commercial Realtors. This award was established to recognize commercial realtors who best exemplify the highest in professional standards.
Integrity, leadership and outstanding character are really what this award is about, and no one exemplifies those qualities better than James Blake
2014 SCR Chairman Bill Makens
With more than 28 years of Dallas/Fort Worth commercial real estate market experience, Blake has combined sales and leases in excess of $320 million. While Blake’s shopping center and industrial clients are all across the United States, his focus is retail and industrial income producing properties in the Dallas/Fort Worth metroplex area.
*All Sperry Van Ness offices are independently owned and operated.
This week, our 5 for Friday features Zach Schwarzmiller, an Advisor with Coast/Sperry Van Ness based out of Everett, WA.
1. What is your geographic market and product specialty?
My geographic market is Washington State. While a strong concentration of our deal flow centers within Snohomish, King, Pierce and Spokane Counties, we are often conducting deals in all four corners of the state. I primarily specialize in assisting clients with the acquisition and disposition of multifamily apartment buildings and/or multifamily land deals.
2. What’s your latest best practice tip that you can share?
At the moment, my best practice tip has been to return to good “old fashion” mailing campaigns with handwritten letters and envelopes. I’ve discovered that handwritten letters have greater success than the standard mailing procedure. Following this practice, clients have opened, read and followed up with me in greater numbers than in prior campaigns.
3. What’s been the biggest change over on how you run your business in the past decade?
I have not been involved in this business for a decade, however, I’ve teamed up with a Senior Advisor, Blake Stedman, who has been involved within this field over the past decade. Our different skills in this business complement each other very well. I add a lot of new tricks and tools in regards to technology, advertising and overall online presence.
4. What business book do you like to recommend to your colleagues?
I enjoy “Gung Ho! Turn On the People in Any Organization” by Ken Blanchard. The principals taught within the book are equally as important to your personal life in addition to your professional business life.
5. What’s a fun fact that not everyone knows about you?
I am a certified pilot and enjoy performing acrobatic stunts. In the past decade, I’ve circumnavigated the globe on both ship and planes. I’ve traveled through 26 countries exploring all continents with the exclusion of Antarctica. During my time traveling around the world, I’ve “couch-surfed” on 52 different people’s sofas. Lastly, I have a pet bunny named Harley, a black lab named Zula, and my fiancée Molly whom I will marry in July 2014.
*All Sperry Van Ness offices are independently owned and operated.
Robert J. Pliska, Managing Director of Sperry Van Ness/Property Investment Advisors, LLC
Robert J. Pliska, CRE, , CPA, Managing Director, Sperry Van Ness/Property Investment Advisors, LLC was selected as an inductee into the Midwest Real Estate News Hall of Fame. The publication recognizes individuals who are “the biggest names in the commercial real estate” industry. Mr. Pliska’s profile in the December 2013/January 2014 issue of the Midwest Real Estate News attributes this honor to his in depth knowledge of the commercial and investment real estate industry, his work ethic, his level of trust he earns from his clients and his expansive community, industry, and nonprofit service work.
Mr. Pliska specializes in the sale, financing, leasing, managing, consulting, auctioning and accelerated marketing of office, retail, multi-family, industrial, hotel and other investment and commercial properties. With over 35-years of commercial and investment real estate experience, Pliska has secured over $1.5 billion in real estate transactions. Pliska served as president and/officer of several commercial real estate firms. As a Certified Public Accountant (CPA), he advised real estate and financial institution clients.
Pliska is a local and national speaker, author, radio guest, panelist and social media expert for many local and national organizations as the Counselors of Real Estate of the National Association of Realtors, the Commercial Board of Realtors, the State Association of Realtors, the State Association of CPA’s, the Chamber of Commerce, CCIM (Certified Commercial Investment Member), the Real Estate Answer Forum and many others on investment and commercial real estate. He is quoted in numerous publications as Globe Street, CCIM,The Counselors of Real Estate, local news publications, Midwest Real Estate News and others. He is followed by thousands in social media on LinkedIn, Twitter and Facebook. He sits on local, national and international Board’s of CEO’s and other organizations. He has been honored as Humanitarian of the Year by several organizations.
Pliska’s professional activity includes former president of the Commercial Board of Realtors, Chairman of the Detroit Board of Realtors for the Detroit Metro Commercial Investment Division, member of the Michigan Association of Realtors and recipient of the “Realtor of the Year” Award and member of the Counselors of Real Estate (CRE) and recipient of the CRE designation. Pliska’s community involvement includes officer and/or board member of numerous community and nonprofit organizations.
Pliska received his masters of business administration (MBA) from Michigan State University. He earned his bachelor’s degree from the University of Detroit.
“I am humbled at my selection to the Midwest Real Estate News’ Hall of Fame. Such an honor can be largely credited to the exceptionally talented individuals and organizations that I have had the pleasure to work with over my career”
Contact:
Robert J. Pliska, Managing Director
Sperry Van Ness/Property Investment Advisors, LLC
Email: robert.pliska@svn.com
Phone: 248.433.1400
*All Sperry Van Ness® offices are independently owned and operated.
1. What is your geographic market and product specialty?
It is what I call the Foothill Retail Corridor. I specialize in retail properties and the geographic region is a collection of about twelve cities and towns along the foothills of the San Gabriel Mountains in Los Angeles County. This is where I have lived, worked, and gone to school. I know the area very well.
2. What’s your latest best practice tip that you can share?
I am excited about having recently joined an SVN Vital Factors Team. In fact, I’m the facilitator. I love it! It really prompts me to focus on the important things I have to do, write them down, and then be accountable to the rest of my team.
3. What’s been the biggest change over on how you run your business in the past decade?
I haven’t been a broker for the past decade, so I can’t say how my business has changed in that regard. However, I started in commercial real estate in 1992 as a commercial appraiser. I’ve seen quite a bit, including investors scooping up properties from the RTC for cheap. Unfortunately, I think a lot of today’s investors that I talk with have long-term memories, and think they are going to pick up properties at RTC prices, but that just isn’t happening.
4. What business book do you like to recommend to your colleagues?
I am currently working through a book called “Fire Your Excuses” by Dr. Bill Dyment. Just like the title indicates, it asks a lot of penetrating questions and presents practical solutions for eight areas of life, including career. It starts with a free assessment on the website (click here).
5. What’s a fun fact that not everyone knows about you?
I am married to a wonderful wife and we have a two year old named Max. I love to BBQ. I also love history, Route 66, philosophy and theology. If time and money were no object, I would be studying philosophy and theology at Biola University.
*All Sperry Van Ness offices are independently owned and operated.
Wesley Cox, CCIM, Senior Advisor, SVN/Miller Commercial Real Estate
Wesley Cox, CCIM, Senior Advisor with SVN/Miller Commercial Real Estate in Salisbury, MD was awarded the National Association of REALTORS 2013 National Commercial Award. The award recognizes excellence in the commercial real estate industry by honoring accomplished realtors for their local achievements. Cox is one of only 59 national award recipients, and the only recipient from Maryland. When asked about the award Wesley said, “It is a great honor to have been selected for this national award and to be a representative of the commercial real estate industry. As community stakeholders we should all have goals that help preserve and improve our enviable quality of life we have on the Shore and to help our community move forward in a positive direction.”
A factor in Wesley being an honored recipient was receiving the Rotarian of the Year Award from the Wicomico Rotary Club. The purpose of that award is to recognize someone that carries out the Rotary’s Four Way Test on a daily basis and someone that has demonstrated exemplary humanitarian service with an emphasis on volunteer efforts. Mission of Mercy, The Christian Shelter, Salvation Army, and the Village of Hope are a handful of the organizations that have benefited from Wesley’s work. As the Managing Broker of SVN/Miller Commercial Real Estate, Brent Miller, CCIM, CPM commented, “I am extremely proud of Wesley’s accomplishments which go to show his and our commitment to the community and the commercial real estate industry.”
As a 12-year veteran of commercial real estate, Cox specializes in the sale and lease of commercial investment property, industrial, retail, self-storage, office, and land located on the Eastern Shore of Maryland and Southern Delaware.
*All Sperry Van Ness offices are independently owned and operated.
This week, we turn the spotlight on Coast/Sperry Van Ness with offices in Everett and Seattle, Washington.
1. What has been your strategy for growing your firm and also your market share?
We’re structured a little differently that most SVN firms as we have a sizable property management sister company and a private equity investment arm associated with us. A full 30% to 40% of our twelve Advisors’ leads come from house referrals due to these and other linkages. That level of consistent referrals allows us to offer them what is effectively a base salary, so it’s a big advantage in our advisor recruiting efforts. We love the culture of cooperation, tools, and network with SVN, but driving business to our Advisors and then supporting them as they work on their business plans is how we recruit effectively. Growing this business, after all, is about building on “same store sales” (helping our advisors keep increasing their gross commission incomes) as well as growing by head count (recruiting).
2. What are some of the unique activities you do to motivate your team?
None. If I have to motivate them, they’re in the wrong shop. We only bring in people who can write a strong business plan, stick to it, be accountable, and are hungry. If they have an off year, we work with them but if they string a few together, we are intentional about helping them find another career. Like a football team, we have a “next man in” mentality and if a player is off his/her game and not making plays, we bring in someone who can. Fortunately, nearly all of the people we’ve recruited have stayed.
3. What’s been the biggest challenge in how you run your business over the last few years?
Time. I’d like more time to meet more prospective Advisors, recruit them, and work more closely with my Advisors. We’d like to get to 18 Advisors and hold there. I’m four away from that target today.
4. How many Advisors/Staff did you have when you joined SVN? How many (in total) do you have now?
We started with eight in 2007 when we joined SVN. I terminated anyone who couldn’t produce a business plan six months later that showed they wanted to earn at least $150K gross commissions the next year. That policy brought us down to three very good ones and since then I have been steadily growing it to our current size of twelve. I couldn’t be prouder of the quality of Advisors we have in our firm– each one of them.
Tom Hoban
Shawn Hoban
Jeff Ayers
Candice Chevaillier
Willis Cole, III
Rick Graff
Kristen Lessig
Blake Stedman
Art Thomson
Zach Swarzmiller
Contact:
Tom Hoban, Managing Director
Coast/Sperry Van Ness
Email: tom.hoban@svn.com
Phone: 425.339.3638
*All Sperry Van Ness® offices are independently owned and operated.
1. What is your geographic market and product specialty?
My product specialty is land. My market area is the Delmarva Peninsula – Maryland, Delaware, Virginia.
2. What’s your latest best practice tip that you can share?
I recommend setting aside time for monthly business planning. It helps me stay focused on the big goals while working each day to make business happen. This is equivalent to working ON your business and not IN your business –
3. What’s been the biggest change over on how you run your business in the past decade?
My biggest challenge was committing to focus on one product type which for me is land.
Alex Ruggieri, CCIM, MBA, SVN/Ramshaw Real Estate, Inc.
Alex Ruggieri, CCIM, MBA, with Sperry Van Ness/Ramshaw Real Estate Inc., recently asked marketing experts how commercial practitioners can improve business in the areas of public relations, branding and social media. In the article that was published by Illinois Association of Realtors, Ruggieri explains that the keys to success are:
1. What is your geographic market and product specialty?
Our market is Northern Alabama, with a focus on the Huntsville area. As the broker of record for our company, I seldom work on projects alone. I partner with Advisors as a primary training tool. My product specialty is retail leasing and land, but our brokerage has specialists in multifamily, property management and STNL properties. Of course, with the STNL properties, they could be located anywhere in the US, but again, particularly the South.
2. What’s your latest best practice tip that you can share?
I would recommend specializing in a specific property type. Sometimes we think we can do it all, but in this business, you cannot. If you are not an expert in your field you will not be taken seriously, and people expect SVN Advisors to be experts.
3. What’s been the biggest change over on how you run your business in the past decade?
I would have to say the smart phone. It has decentralized the office. We can perform just about any task on the fly.
5. What’s a fun fact that not everyone knows about you?
I’ve moved from Harley’s to Porsche’s in the past few years and I will be tracking my Porsche for the first time this spring.
*All Sperry Van Ness offices are independently owned and operated.
Mark Alexander, CCIM, SVN’s Medical Office Council Chair
SVN’s Medical Office Council Chair, Mark Alexander, CCIM, recently wrote an article for News-Press.com in which he predicts,
The manner in which healthcare is delivered to Americans is changing. Increased demand for new types of medical office building design is part of that, along with locations different from past conventions to meet the needs of healthcare service providers of the future.
1. What is your geographic market and product specialty?
My geographic region is on Florida’s Gulf Coast with land as a specialty. Our team is currently working through several significant land transactions with national developers & homebuilders that entail re-zoning or site plan development.
2. What’s your latest best practice tip that you can share?
Keeping building your database and stay in constant communication with it. In 2013, we had a strong response to our e-blast campaign that resulted in not only new members to our database but closings with new buyers. As part of my effort in helping to launch SVN’s Land Product Council, we are working on a cooperative marketing program to highlight the SVN brand’s presence in land.
3. What’s been the biggest change over on how you run your business in the past decade?
The biggest change in how I run my business from a decade ago can be described as “leaner and meaner.” Obviously, the advances in technology in the past decade have allowed all of us to become more efficient. Besides technology, I continue to be conscious of controlling overhead as well as time management. My team has been focusing on high quality listings that are properly priced.
4. What business book do you like to recommend to your colleagues? “Man’s Search for Meaning” by Dr. Viktor E. Frankl. It’s a book written by a Holocaust Survivor (he had the choice to escape but chose to stay with his family) and was completed in just 9 days shortly after he was liberated from a concentration camp. According the Library of Congress, this book has been named one of the 10 Most Influential Books in the United States. A favorite quote from the book is “Don’t aim at success. The more you aim at it and make it a target, the more you are going to miss it. For success, like happiness, cannot be pursued; it must ensue…”
5. What’s a fun fact that not everyone knows about you?
I recently volunteered to “crew” a local theater production of Peter Pan where I was responsible for “flying” kids.
*All Sperry Van Ness offices are independently owned and operated.
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.
This year SVNIC’s National Conference will take place in San Antonio, TX, March 12 through 14. The conference consists of two days filled with the latest CRE technology, world-class speakers and informative breakout sessions focused on building business for 2014.
Mike Lipsey
Dr. Sam Chadan
Glenn Morshower
This year’s conference highlights, include:
Awards Banquet honoring the top SVN advisors of 2013
Mike Lipsey: international leader, trainer and CRE consultant
This week, our 5 for Friday features Scott Skogmo, SIOR, Managing Director with Sperry Van Ness/Skogmo Commercial based out of Columbia, MD.
Scott Skogmo, Managing Director, SVN/Skogmo Commercial
1. What is your geographic market and product specialty?
My geographic market is Baltimore, Maryland and Washington, DC region. I primarily specialize in Industrial properties but some office and flex properties as well.
2. What’s your latest best practice tip that you can share?
Get out of the office at least once a week for cold calling, warm calling, and to see the properties. I always get new ideas when out on the road. Also, improve client communications and marketing through ClientLook and other tools such as BuildOut, ProspectNow, broker emails, postcards, etc.
3. What’s been the biggest change over on how you run your business in the past decade?
More efficient operations by strategic use of technology; less paper, less overhead, better access to mobile tools, less time wasted on non-productive activities. I can be more focused on sales due to better focus and fewer distractions. For example, completing a broker email on a property is so easy now using BuildOut and iContact. It only takes about 5 minutes to set up a new mailer once the property is entered in BuildOut.
4. What business book do you like to recommend to your colleagues? Atlas Shrugged by Ayn Rand. Although it is an older book, it is a great lesson about how government can strangle business and the entrepreneurial spirit.
5. What’s a fun fact that not everyone knows about you?
I reached my goal of cycling 3,000 miles in 2012, and came close in 2013, mostly in Maryland. I hope to branch out and possibly do more distant adventures next year. On the water, I always enjoy jet skiing with my son on the rivers and bays of Maryland, Delaware and in the Atlantic Ocean.
*All Sperry Van Ness offices are independently owned and operated.
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, 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.
This week, our 5 for Friday features Jim Morgan, CCIM, Managing Director with SVN/Investec Services based out of Jacksonville, FL.
Jim Morgan, CCIM, Managing Director, SVN/Investec Services
1. What is your geographic market and product specialty?
Northeast Florida and Jacksonville SMSA. Lately, I have focused on distressed assets and helping SVN advisors bring clients to this area. As the market returns, my specialties are land, office, retail, and motivated clients. My CCIM and Master’s level qualification, can handle most market types. SVN’s marketing program is a great boost.
2. What’s your latest best practice tip that you can share?
Talking with clients, sharing educational information, experience, valuation techniques, and sharing current market information while listening to their objectives and measuring their abilities leads to cooperative success.
3. What’s been the biggest change over on how you run your business in the past decade?
The speed of technology and the ability to attractively answer inquires and produce information is amazing. You still have to ensure the information is received and understood.
5. What’s a fun fact that not everyone knows about you?
I flew as a commercially trained instrument pilot privately for 28 years and my family are the descendants of Florida’s pioneers that were here before statehood in 1845.
*All Sperry Van Ness offices are independently owned and operated.
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.”
Diane Danielson
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 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.
Thank You! Two words not used nearly enough by those in positions of leadership. And I can think of no better time to express my most sincere gratitude for the continued commitment and dedication that you give to our clients, to our profession and to our culture here at SVN. I know that many of you will take time off this week to enjoy the Thanksgiving Holiday with family and friends. Enjoy your time away, and may you all have a blessed and safe holiday filled with wonderful memories.
As we move through Thanksgiving and into December, I’ll remind you that we still have plenty of wick left on the candle as 2013 winds down. There remain problems, opportunities, clients who need your advice and counsel, transactions that require your skill and expertise to close prior to year end, and opportunities that await your timely and watchful eye to help position you for a great start to 2014.
Relax the next few days, recharge your batteries, and then let’s all come back together and have a strong finish to the year. Again, my best to all of you and your families.
Regards,
Kevin Maggiacomo | President & Chief Executive Officer
1. What is your geographic market and product specialty?
I specialize in commercial investment transactions in the Greater Los Angeles area; with further focus in the West Los Angeles submarkets including Beverly Hills, Westwood, Brentwood, Santa Monica, Palms, West Hollywood, and Pico-Robertson. Additionally I’m part of a team with our Managing Partner Dan Baird and Advisor Michael Chang that collectively specializes in the areas including Downtown LA, Koreatown/Mid-Wilshire, Hollywood, and the San Fernando Valley.
My prime focus is representing clients in the acquisition and disposition of apartment buildings, sourcing real estate investment opportunities, marketing properties, negotiating contracts, financial and market analysis, 1031 exchanges, and escrow management. Furthermore, I’m proficient in property management and am currently overseeing multi-family units in West Hollywood.
2. What’s your latest best practice tip that you can share?
Improve your social media presence on LinkedIn. Have a strong profile with a professional photo along with your skills and experience, links to your Sperry Van Ness Bio, personal website, etc. Add two or more connections weekly, and devote thirty minutes a week to posting off market deals, joining groups, and sharing news articles and personal updates with your sphere of influence, clients and related industry connections. It’s a great way to add value to the relationship and helps illustrate you are an expert in your market and product type!
3. What’s been the biggest change over on how you run your business in the past decade?
Two Words: Constant Contact. A good email marketing campaign is now more effective than a good call. I’m not saying that cold and warm calling isn’t a huge part of our business, but if you can get the information to your entire client database in two seconds, and let them come back to you for more information, you’ve immediately determined who the top candidates are for the deal without having to make 2,500 calls. If your deal doesn’t get sold from the “first responders” you can still make those calls.
4. What business book do you like to recommend to your colleagues? “Getting To Yes” by Roger Fisher and William Ury. Bottom line, it’s all about negotiating the coveted “win-win” scenario and based on the work of the Harvard Negotiation Project, a group that deals continually with all levels of negotiation, conflict resolution from domestic business to international.
5. What’s a fun fact that not everyone knows about you?
I worked on several seasons of the acclaimed reality television show Survivor, helping to produce the Challenges and Rewards. You can’t imagine how much time, effort, manpower, money, coordination and government support is required to make a hit television show, especially in China, where I lived for three months while on set.
*All Sperry Van Ness offices are independently owned and operated.
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:
Early Struggle
Fun
White Water
Predictable Success
Treadmill
The Big Rut
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.
Members if the SVN/Miller Commercial Real Estate team assisting in the renovation of the Hope and Life Outreach in Salisbury, MD.
The members of Sperry Van Ness/Miller Commercial Real Estate, based out of Salisbury, MD, were among the groups and individuals around the country who volunteered on October 26 for National Make a Difference Day. The team helped to make a positive difference in other’s lives by making improvements at the Hope and Life Outreach (HALO) emergency shelter. SVN/Miller supplied paint and many volunteers.
“We brought a whole crew of office members and some of their family and put some paint on the wall to spruce it up,” said Nicole Abresch, 25, marketing director for Sperry Van Ness/Miller Commercial Real Estate. “We just wanted to give back to an organization that does so much for the less fortunate in the community.”
*All Sperry Van Ness offices are independently owned and operated.
Steve Rodgers, CCIM, SVN/Norris Commercial Group, LLC
This week, our 5 for Friday features Steve Rodgers, CCIM, Director of PM Services with SVN/Norris Commercial Group, LLC
1.What is your geographic market and product specialty?
My geographic market consists of the entire Central Texas region including the cities of San Antonio, New Braunfels, Austin, San Marcos, and Seguin. I work in several product types including Retail, Office, Medical Office, and Industrial with a focus on Property Management.
2. What’s your latest best practice tip that you can share?
The latest best practice tip that I have found valuable in my day-to-day routine is the adoption of the Google Suite of products offered through SVN, specifically Google Drive. It has enabled me to be completely mobile without sacrificing my productivity.
3. What’s been the biggest change over on how you run your business in the past decade?
The biggest change for me in how I run my business is, again, the use of online or cloud-based resources.
4. What business book do you like to recommend to your colleagues? “Build the Fort…Today” by Jim Kern. Dr. Kern spoke at a Leadership retreat I attended a couple of weeks ago. It is very motivational.
5. What’s a fun fact that not everyone knows about you?
Twenty-five years ago, I saw my future wife standing by the flag pole at Sharyland High School. She was a sophomore and I was a Senior. We married 8 years later (after nursing school and college) and now have two boys, 15 and 11.
*All Sperry Van Ness offices are independently owned and operated.
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.
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.
Inc. 500 | 5000 Conference Keynote Speaker, Jim Collins
SVNIC was represented at the Inc. 500 | 5000 Conference in Washington DC, October 10-12. Best-selling author and researcher, Jim Collins (Built to Last, Good to Great) was a keynote speaker. His inspiring talk, entitled “From Company to Combat: How to Lead in Any Environment” was attended by thousands. Collins focused on how to build great businesses, bringing your business to the next level and the power of a “Level 5 Leader.” Collins also outlined 12 important questions every organizational leader should ask him/herself each month. Some example questions, include:
Do we want to build an enduring great company (or social sector enterprise), and are we will to strive for
Level 5 Leadership?
On what core values and enduring purpose will we build our culture for 100 years?
Do we have the right people on the bus, and are 95% of our key seats filled with the right people?
What are the brutal facts and how can we better live the Stockdale Paradox?
Check out the rest of the questions on Collin’s website or click here.
*All Sperry Van Ness offices are independently owned and operated.
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 Danielson, George Slusser, Bo Barron and Karen Hurd.
*All Sperry Van Ness offices are independently owned and operated.
Steve Martin, CCIM, CPM, Managing Director, SVN/Martin Commercial Group
1.What is your geographic market and product specialty?
We have two offices with one in Evansville, IN and the other in Indianapolis, IN. Our geographic market is primarily from Indianapolis to Evansville, IN through Western KY down to Nashville, TN. My product specialty is apartments although my team does a fair amount of NNN in our as well.
2. What’s your latest best practice tip that you can share?
Keep your technology simple and yet effective. I love technology and yet it is easy for technology lovers, like myself, to look at the capabilities and forget about the difficulty of implementing it when multiple people are involved. The biggest challenge is learning how to effectively use technology to improve our business instead of using it because it is the latest and greatest gadget. We are working hard this year to make our technology effective but simple for our team’s success.
3. What’s been the biggest change over on how you run your business in the past decade?
There are two major changes for me. First, I have become a firm believer in Richard Flint’s mantra, “Behavior Never Lies”. Whether it’s clients, employees, advisors, friends, family or just “people”, I have changed my approach to business by watching their behavior more and listening to their spin less.
Secondly, we are changing to a much more collaborative accountable & mobile organization and believe we will be paperless by the end of 2014. This requires totally different management styles and business approaches than paper and filing cabinets has in the past.
4. What business book do you like to recommend to your colleagues?
I have a “Mastermind Group” of people of a similar age with many of the same business issues but in unrelated, non-competitive industries. We meet every month and always have a book that is part of our self-examination of the members of the group. We started with “Good to Great” by Jim Collins and it is a staple of our discussions and actions. It has paid great dividends for everyone in the group. Our current book is “The 4 Disciplines of Execution” by Sean Covey. It is likewise making a great impact and I recommend it highly.
5. What’s a fun fact that not everyone knows about you?
I have only had one job other than owning The Martin Group of Companies and it lasted 6 months after college & then my Father and I embarked on building an apartment development company. That was 36 years ago and I am blessed to work with my father everyday for the past 36 years. In addition, I asked my wife to fill in for us in accounting for a few weeks 14 years ago but I’ve never stopped her temporary job! Lastly, our third generation (Alex & Andy) is now joining us in our Indianapolis office and we are most excited about the future.
*All Sperry Van Ness offices are independently owned and operated.
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.
In September, Kevin Maggiacomo, President and CEO of Sperry Van Ness International Corporation was asked to speak at TEDxOrange Coast. Watch the video below to hear his unique take on why and how we all need to wake up the American Dream.
*All Sperry Van Ness offices are independently owned and operated.
1.What is your geographic market and product specialty?
My geographic market is Albuquerque and Santa Fe, NM, but I cover the US, working on net leased properties for investment clients. My focus is on NNN investment properties as well as REO disposition for several banks that are long time clients.
2. What’s your latest best practice tip that you can share?
Maniacal focus on business and personal goals and working with a coach to assist with that focus.
3. What’s been the biggest change over on how you run your business in the past decade?
The use of virtual assistants, electronic marketing and web meetings. The changes have increased my available time and decreased time to market and expenses. I work with a marketing assistant in Pennsylvania and an administrative assistant in Texas. My team has access to listings, buy side assignments, forms, etc. at all times from anywhere.
4. What business book do you like to recommend to your colleagues? “Selling the Invisible”by Harry Beckwith
5. What’s a fun fact that not everyone knows about you?
I was a contractor and builder prior to getting active in commercial brokerage and built high end adobe homes in Santa Fe. I miss the artistic component so for relaxation I build doors and furniture in my workshop which is an old dairy barn (circa 1910). I also help family and friends with construction projects.
*All Sperry Van Ness offices are independently owned and operated.
SVN Deal Stories: Bankruptcy Auction of a Shopping Center
The Property:
Avalon Plaza, a neighborhood retail shopping center in Salisbury, MD.The Challenges:
This retail property was in a permitted sales process under 363 Federal Bankruptcy and approved for a structured bankruptcy auction to be conducted with all liens attaching to the proceeds of sale.The Brokers: Brent C. Miller, CCIM, CPM, SVN/Miller Commercial Real Estate Louis Fisher, SVN Auction Services David E. Gilmore, CCIM, CAI, AARE, SVN Auction Services Kayvan Mehrbakhsh, CCIM, MBA, SVN/SVNMA
Getting the Deal Done the SVN Way:
Sperry Van Ness Auction Team Advisors Louis B. Fisher, III, Auction Council Chair and David Gilmore, Managing Director received appointment as marketing agent/auctioneer for the trustee and the subject bankruptcy estate. Brent Miller, Managing Director for Sperry Van Ness/Miller Commercial Real Estate in Salisbury served as the court appointed property manager and local headquarter broker for the initiative and engagement. A live auction was held in Chambers at the Bankruptcy Court with a confirmation hearing immediately before the Judge at the conclusion of the bidding for the property. The auction attracted interest from major equity funds and national retail operators/owners in 19 US States with 100 plus prospective purchasers entering the buyer momentum process and multiple groups inspecting the property. The brokerage community participated with 14 different broker registrations representing potential bidders. The live auction was conducted with four qualified bidders present in Court Chambers and five qualified bidders attending via Sperry Van Ness’s online internet bidding platform. The auction produced competitive bidding with a final $5,925,000 cash bid with Sperry Van Ness Advisor Kayvan Mehrbakhsh representing the buyer.
The Lessons Learned:
• Rely on the top talent in area of expertise
• Use an internet/online platform to open the market wider
• It is key to understand both the market and the buyer’s needs
Testimonials:
“Brent, you and your team exhibited a high level of thoroughness with the due diligence materials and a great degree of professionalism with your duties as property manager and headquarter listing agent for the auction. Many of the interested bidders commented on your team’s responsiveness with answers to their questions
regarding the property, market conditions and demographics, all important to buyers of operating retail centers.”
Merill Cohen, Trustee, U.S. Banruptcy Court
*All Sperry Van Ness® offices are independently owned and operated.
1.What is your geographic market and product specialty?
The Eastern Shore of Maryland and Delaware. I specialize in office, industrial and retail properties.
2. What’s your latest best practice tip that you can share?
I have found great success in 3 key areas:
Daily planning
Using my spreadsheets to track all deals by date and probability
Blocked time with phones and email shut off to “get stuff done”
3. What’s been the biggest change over on how you run your business in the past decade?
The biggest change would have to be the surge in how we use technology to connect with and update potential buyers and clients. The use of social media, websites, even apps for iPads and other devices, have become invaluable tools in how I conduct day-to-day business.
4. What business book do you like to recommend to your colleagues? “Brokers who Dominate” by Rod Santomassimo
5. What’s a fun fact that not everyone knows about you?
I am a passionate but conflicted college football fan having graduated from Penn State but with two kids in college at South Carolina and Alabama.
*All Sperry Van Ness offices are independently owned and operated.
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.
*All Sperry Van Ness® offices are independently owned and operated.
Matthew Rotolante, CCIM, SIOR, Managing Director, Sperry Van Ness/South Commercial Real Estate Advisors
Matthew Rotolante, CCIM, SIOR, Managing Director of Sperry Van Ness/South Commercial Real Estate Advisors, recently authored an article for The Bankruptcy Bar Association–Southern District of Florida. In the article, Matthew explains how to create a model for valuing commercial real estate.
“In essence, appraisals are necessary to determine value, but when combined with the testimony of a credible broker, a more accurate valuation may be obtained. This is especially important when attempting to prove the legitimacy of a reorganization plan, or deciding whether a 363 sale strategy is feasible.”
To view Matthew’s article in its entirety, click here.
*All Sperry Van Ness® offices are independently owned and operated.
Bill Menish, CAI, AARE, BAS, Owner/Auctioneer, Erler Menish Auctions
1. What is your geographic market and product specialty?
My geographic market is Kentucky, Ohio, Indiana and Southern California. My specialty is Auction.
2. What’s your latest best practice tip that you can share?
My latest best practice tip is that when cold calling on bank clients to help them sell their OREO, if you can offer something new, innovative, creative with a track record for success, they will talk to you. I’ve also found that inviting them to a lunch presentation works well because it helps them drop their guard and really listen to what you are pitching.
3. What’s been the biggest change over on how you run your business in the past decade?
My biggest change has been moving from selling non-distressed properties for sellers to selling distressed properties for banks.
4. What business book do you like to recommend to your colleagues? The Success Principles by Jack Canfiel
5. What’s a fun fact that not everyone knows about you?
That I am an actor and a singer and I was Harold Hill in The Music Man.
*All Sperry Van Ness offices are independently owned and operated.
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.
Kevin Maggiacomo delivering the keynote speech.
Ryan Imbrie hosting the Investments break out table.
Inside SVN Roundtable session.
Neil Sherman hosting the Multifamily product break out table.
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.
1. What is your geographic market and product specialty?
Our offices are located on Hilton Head Island, South Carolina and Savannah, Georgia. We cover all of South Carolina and coastal Georgia. My specialty is asset/property management along with the attendant leasing and sales that comes from management. We serve as asset managers in South Carolina, Georgia and Texas.
2. What is your latest best practice tip that you can share?
Treasure and serve your existing clients beyond their expectations. Give more than you must. Make it a habit to always deliver more value than others expect. Give unselfishly and don’t require others to acknowledge you. Your paydays will come.
3. What’s been the biggest change over how you run your business in the past decade?
Serving as a receiver. We have and are serving as receivers over several commercial properties , for several large banks, throughout the South Carolina Low Country.
4. What business book do you like to recommend to your colleagues?
I strongly recommend “Transformational Leadership in the New Age of Real Estate”by Christopher Lee. This is a phenomenal guide to real estate practice today and in the future.
5. What’s a fun fact that not everyone knows about you?
I was born and raised in Toronto Canada, moved to the United States in 1982, became a naturalized U. S. Citizen in 1992 and carry dual citizenship. I have an adopted son, now 17 years old who shares my passion for hockey. My hobby is photography.
*All Sperry Van Ness offices are independently owned and operated.
According to the 2013 mid-year report from US Capital Trends (a division of REAL Capital Analytics) on the apartment market, the commercial real estate apartment market is doing well as of the end of Q2 2013, with strong sales, including fewer distressed properties on the market.
Apartment sales are strong—$17 billion in Q2—but slowing in comparison to the steep rise experienced since Q4 2009. Transaction volume has moderated due in part to interest rate hikes that started in May. Mid/high-rise properties are appreciating at a slightly higher rate than garden properties.
Sales of distressed properties fell below $1 billion for the first time in more than three years. Because of improving prices, lenders have less pressure to liquidate troubled properties. More than a quarter of distressed properties are located in the Southeast (Miami, Atlanta) and in tertiary markets.
Investors are looking to lagging markets “where fundamentals may outperform over the near term” such as Orlando, Northern New Jersey, Minneapolis and Jacksonville. Volume in major metropolitan areas declined by 6% and grew by 12% in non-major markets. Secondary and tertiary markets are experiencing activity spikes whereas primary markets such as Manhattan and Houston have seen flat or declining volumes. A very active area appears to be the Washington, DC suburbs, where activity increased 118% in the first half of 2013, making it second only to Manhattan.
The top apartment buyers buy investment volume are Equity Residential and Avalon Bay Communities. The top apartment brokers (for all types of apartments) are CBRE and HFF.
To read the complete report, including breakdowns by region, selected sales transactions, sales summaries by type, please download the US Capital Trends Apartment 2013 Mid-Year Review.
*All Sperry Van Ness offices are independently owned and operated.
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.
James Blake, CCIM, Managing Director, SVN/Summit Commercial
1. What is your geographic market and product specialty?
My main market is the west side of the Dallas / Fort Worth metroplex focusing on Fort Worth retail, including shopping centers, retail pads and single tenant retail sales.
2. What’s your latest best practice tip that you can share?
Keep up to date on market knowledge and market trends. Clients like it when you can educate them on transactions in the market and what is happening with occupancy rates and cap rates for example. The property owners perceive a real value in a agent that has market knowledge.
3. What’s been the biggest change over on how you run your business in the past decade?
Using the tools and resources available to me. SVN allows me save time on my marketing using the BuildOut platform. I also have good advisors in my office who enjoy rolling up their sleeves and working smart.
4. What business book do you like to recommend to your colleagues?
5. What’s a fun fact that not everyone knows about you?
I really enjoy making family vacation videos on my iMac. It is fun going back after a couple years and watching highlights of our trips. And of course, to make the videos I have to take the vacations with my wife and or my two college age sons who love scuba diving and mountain climbing. Love the GoPro camera!
*All Sperry Van Ness offices are independently owned and operated.
Sperry Van Ness/Motley’s in Richmond, Virginia is the newest Sperry Van Ness International Corporation (SVNIC) franchise office. Known simply as “Motley’s” to many in the Richmond area since 1968, the full-service auction and realty group now joins SVNIC as it looks to further advance its success – and expose its listings to an even wider audience of potential buyers.
Mark Motley, CAI, AARE, Managing Director
Managing Director Mark Motley, CAI, AARE has more than 30 years of experience with commercial real estate appraisals and dispositions. He was first exposed to real estate auctions at the age of 13, learning the business from his father. In 1988, Mark led the expansion of Motley’s to include an industrial division, providing liquidations and appraisals for the assets of brokerage corporations like SVNIC. A decade later, he entered the online auction market as a co-founder of the Auction Online Network. And in 2008, he added turnkey foreclosure and trustee services as an offshoot of Motley’s. Now in 2013, the company will grow yet again, with the support of SVNIC’s nationwide platform.
“We’ve really embraced the things that make SVNIC different from other commercial real estate companies,” said Motley. “SVNIC’s culture of collaboration allows us to further accelerate our auction services by reaching potential buyers from all around the country. Additionally, the social media support and transparency in promoting listings – even to competitors – will allow us to increase sales when it comes to marketing more traditional properties.”
SVNIC is the only commercial real estate firm that markets all of its properties nationally to a 100,000-member brokerage and investment community. From 2010 to 2012, SVNIC gave more than $200 million in shared commissions to its own competitors for bringing the highest bidder to the table, allowing advisors to see gains from closing more deals in less time. Advisors also reap the benefits of SVNIC’s cloud-based enterprise system that enables easy, on-the-go access to property listings and client contacts; real-time data sharing; and software that allows for the assembly of professional proposals and marketing materials.
Learn more about becoming an SVNIC business owner here.
*All Sperry Van Ness offices are independently owned and operated.
Everyone knows we have a changing demographic: aging Boomers, unemployed Generation Y/Millennials, and the much smaller-in-size Generation X sandwiched between elder care and child care (often both at the same time). But how is this affecting real estate? Pretty drastically. Recently, commercial real estate bloggers have been writing a lot about how younger generations will affect the actual sales process, including rants about how technology and demographics are changing the industry. I’ve even written on how mobile technology is a factor.
Yet, these are only tips of the same iceberg; at least according to the new book by Leigh Gallagher, The End of the Suburbs: Where the American Dream is Moving. How Americans live and where they live will greatly affect commercial real estate in the next few decades. In The End of the Suburbs, Gallagher gathers some of the most recent statistics and studies on the changing residential landscape. Here are just a few items to ponder.
Due to the employment situation, one out of three Millennials are living at home through their late 20s. This means they are not getting married, buying new cars, or having kids in their 20s: all basic life steps that lead to purchasing homes in suburbia sooner rather than later.
What’s attractive to Millennials – when they can finally afford to move out – is to get out of suburbia and into cities, or suburban settings that mimic what cities have to offer: shopping, entertainment and restaurants, all within walking distance or on public transportation.
Millennials are a generation unenthused about life in a car. After being chauffeured everywhere their whole life, many are not looking for a future with a 2-car garage, let alone a 3-car one.
In the most recent recession, Detroit notwithstanding, suburban properties lost 40% of their value, whereas urban properties lost only 20%. This is a reversal of earlier real estate bubbles.
There is a trend towards “New Urbanism” and classic town centers where there are sidewalks, front porches and apartments mixed in with single-family homes and commercial enterprises. What’s falling out of favor is the large sprawling suburb where the schools, stores, play dates, and community resources are all at least a 20-minute drive away.
Towns that received Federal and/or State funding 20 years ago to put in far-reaching town services like water, sewer and roads to expand further and further out, do not get funding for their upkeep. Without commercial enterprises in town, they can’t support it with the tax base.
People are starting to factor in the price of gas to the far-reaching suburbs, leading to further discounting of prices to accommodate.
The big mystery is what will the aging Boomers do. Will they stay in their homes? Buy into assisted living in their suburb? Head South or to a more urban setting? Will they be able to even find buyers for their homes if they do decide to leave?
If those are the trends and things to watch in residential real estate, what does that mean for commercial real estate? Perhaps that’s something to think about on your next commute home to the ‘burbs.
Diane K. Danielson is the Chief Platform Officer of Sperry Van Ness International Corporation.
*All Sperry Van Ness® offices are independently owned and operated.
The Property:
Landmark office building (former headquarters of Potomac Edison) plus 44 acres of land in Hagerstown, MD.
The Challenges:
The 44-year-old building was behind on maintenance and had outdated floor plans and facilities and an obsolete HVAC system. Due to these issues, it was also not up to green building standards required by buyers and the GSA. The local market had fewer buyers in 2012 and potential data center prospects are not able to use a Class C building.
Getting the Deal Done the SVN Way:
Syd Machat was focused on selling the various strengths of the building, which included a convenient and secure location, corporate neighbors, availability of fiber optic cable and a solid construction, which could be retrofitted. Machat, as a SVN senior advisor and veteran CCIM and CRE, worked extensively with the brokerage community to arrange numerous site inspections and offers to cooperate. Extensive advertising and publicity in all media were used.
All of Sperry Van Ness’ marketing advantages were employed: Monday National Sales Call, CRE Internet web site syndication’s, BuildOut™ Brochures, and others. Henry Hanna, CCIM, SIOR and Brent Miller, CCIM, CPM of Sperry Van Ness/Miller Commercial Real Estate were mentors for Syd on this listing.
Ultimately, the building was sold to the Washington County Board of Education for $5.5 million, and will undergo $6.5 million in renovations.
The Lessons Learned:
Focus on the potential of a building and the ability to renovate to suit.
Extensive marketing opens up possibilities.
*All Sperry Van Ness® offices are independently owned and operated.
John Brandhorst, Senior Advisor, Sperry Van Ness/Bluestone & Hockley
1.What is your geographic market and product specialty?
My geographic market is the Portland MSA and my product specialty is office and industrial sales and leasing.
2.What’s your latest best practice tip that you can share?
I can’t emphasize enough the power of a team. Studying Mike Lipsey’s material and reading Rod Santomassimo’s book, “Brokers Who Dominate” recently, a common thread among highly successful brokers is that they were able to break through to the next level by building strong teams. I’ve teamed up with Steve Hagan in our office and we brought in Matt Simpson to help round out the team. Our skill sets complement each other well and we’re quickly realizing the efficiencies of working within a team environment. We’re excited about what we can do together in 2013! The best advice I found was to be patient and seek out team members who have differing but complimentary skill sets so that the whole is greater than the sum of its parts.
3.What’s been the biggest change over on how you run your business in the past decade?
Things are so much different in this business than they were when I started just ten years ago and I’d say that the majority of those changes are directly related to the advent of new technologies – smart phones, iPads, new software programs and the like. They’ve allowed us to become so much more efficient than we used to be.
4.What business book do you like to recommend to your colleagues?
From above, “Brokers Who Dominate“ by Rod Santomassimo.
5.What’s a fun fact that not everyone knows about you?
When I was supposed to be a freshman in high school, I dropped out for a year to hang out in Thailand with my dad, who was on a Fulbright exchange as a professor at Mahidol University and I spent a year traveling and having fun in Southeast Asia. I had to make up the year of school but it was well worth it – it was an incredible opportunity and definitely helped develop my love of travel and exploring other cultures.
*All Sperry Van Ness® offices are independently owned and operated.
The Property:
A retail strip center shadow-anchored by a Kroger Supermarket located in Owensboro, KY.
The Challenges:
The property was bought and developed in 2007 by an out-of-state developer who paid above market rates because he did not understand the local market. The property was overbuilt due to proximity to Kroger, ignoring the surrounding demographics. The developer never achieved more than a 60% occupancy rate and lost it to the bank. The challenge was getting the bank to understand the value of the property was much lower than the price paid. The market demand and market rents would not support their perceived value.
The Brokers:
Bo Barron, CCIM
Tony Yousif, Sperry Van Ness/Finest City Commercial
Tony Yousif
Getting the Deal Done the SVN Way:
Tony Yousif of San Diego, CA, secured a national REO account with Wells Fargo, and one of those assets was a retail strip center. Tony referred the business to Bo Barron, CCIM, in Owensboro, KY. Bo used his local knowledge about the property’s real value, and spent months making targeted marketing calls to collect the market data we needed to give the bank the hard evidence it needed to be realistic about the price. The bank relented on the asking price. Using proactive cooperation and the broker network, Bo found a broker in Indiana who represented and Indiana buyer who purchased the property to fulfill his 1031 needs. Using the incentive of half the fee, and marketing the property without any information hurdles to potential buyers and their brokers, Bo and Tony were able to find an across-state-lines buyer, and happily split the fee on the deal with that buyer’s broker.
The Lessons Learned:
Local knowledge about the market conditions will make a national sale possible.
Compensated collaboration always works in favor of the property owner.
*All Sperry Van Ness® offices are independently owned and operated.
Henry Hanna, CCIM, SIOR, senior advisor at Sperry Van Ness/Miller Commercial Real Estate
1. What is your geographic market and product specialty?
The eastern shore of Maryland and Delaware and I specialize in industrial.
2. What’s your latest best practice tip that you can share?
Get to know the economic development officers on a local and state level in your market and have lunch or a meeting with them once a quarter.
3. What’s been the biggest changeover on how you run your business in the past decade?
Ten years ago I focused on a much smaller area. I considered myself a general commercial broker in one county. Today my market is seven counties and I brand myself as an industrial specialist.
4. What business book do you like to recommend to your colleagues?
James Blake, CCIM, Managing Director for SVN/Summit Commercial Realty, recently received the 2013 Charles D. Tandy Commercial Realtor award, the top honor of the Society of Commercial Realtors. This award was established to recognize commercial realtors who best exemplify the highest in professional standards.
