Commercial Property – Texans NFL Official Pro Shop http://texansnflofficialproshop.com/ Tue, 21 Sep 2021 19:37:18 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://texansnflofficialproshop.com/wp-content/uploads/2021/06/icon-4.png Commercial Property – Texans NFL Official Pro Shop http://texansnflofficialproshop.com/ 32 32 Self-storage industry bounces back from early decline in pandemic https://texansnflofficialproshop.com/self-storage-industry-bounces-back-from-early-decline-in-pandemic/ https://texansnflofficialproshop.com/self-storage-industry-bounces-back-from-early-decline-in-pandemic/#respond Tue, 21 Sep 2021 18:54:13 +0000 https://texansnflofficialproshop.com/self-storage-industry-bounces-back-from-early-decline-in-pandemic/ Last fall, Blackstone acquired Simply Self Storage – with eight million square feet of rental space – for $ 1.2 billion, adding to the $ 300 million already invested in the industry. And in April, Public Storage completed its acquisition of ezStorage for $ 1.8 billion, adding 48 properties with 4.2 million net rentable square […]]]>

Last fall, Blackstone acquired Simply Self Storage – with eight million square feet of rental space – for $ 1.2 billion, adding to the $ 300 million already invested in the industry. And in April, Public Storage completed its acquisition of ezStorage for $ 1.8 billion, adding 48 properties with 4.2 million net rentable square feet.

With investor interest and consumer demand high, Edison Properties, owner of Manhattan Mini Storage, is reportedly considering selling its division, which has 18 locations and 3.1 million square feet, for an estimated $ 3 billion. dollars, or nearly $ 1,000 per square. foot, Bloomberg News reported.

Edison declined to discuss the sale, but the price tag is not surprising, said Mr. Sakwa of Evercore, given the generally high cost of real estate in New York City.

Growth is primarily in general units, but storage for extras like RVs and boats, as well as cold storage, has also increased.

Despite peak demand and sparkling acquisition prices, “all is not rosy under the hood,” said Stephen Clark II of the Clark Investment Group in Wichita, Kan., Which specializes in self-storage among d ‘other categories of real estate. Rental statistics that show a high occupancy rate can be misleading, he said, as they include a number of long-term tenants whose rates are below the market.

And experts don’t know how postpandemic behavior will affect the industry. For example, what happens when storage tenants move out of their parents’ home or don’t need to use their second bedroom as a makeshift office?

But with home prices escalating nationwide, so-called starter homes have become more expensive and some new owners are opting for smaller spaces. That, Mr Morales said, could translate into a constant demand for storage.


Source link

]]>
https://texansnflofficialproshop.com/self-storage-industry-bounces-back-from-early-decline-in-pandemic/feed/ 0
The commercial real estate market is changing rapidly, and for the better https://texansnflofficialproshop.com/the-commercial-real-estate-market-is-changing-rapidly-and-for-the-better/ https://texansnflofficialproshop.com/the-commercial-real-estate-market-is-changing-rapidly-and-for-the-better/#respond Tue, 21 Sep 2021 06:07:40 +0000 https://texansnflofficialproshop.com/the-commercial-real-estate-market-is-changing-rapidly-and-for-the-better/ Predicting behavior in the commercial real estate market is never easy, yet we know that the pandemic has radically changed this market. While some players have advocated ‘the end is nigh’ for all office spaces, research shows that a different picture is emerging – namely the office space as we know it is evolving into […]]]>

commercial propertyPredicting behavior in the commercial real estate market is never easy, yet we know that the pandemic has radically changed this market. While some players have advocated ‘the end is nigh’ for all office spaces, research shows that a different picture is emerging – namely the office space as we know it is evolving into something different. The impact of prolonged uncertainty fueled the change. However, other forces are at work to shape a brighter and more diverse future for offices.

In the first quarter of 2020, London was among the top three destinations for office property investment in Europe. However, after Covid-19 struck and the nation was forced to stay, resulting in a shift to working from home, rental activity for office real estate naturally declined dramatically. In London alone, claims placed fell from 1.34 million square feet to less than 0.6 million between Q1 and Q4 2020. And, after the third lockdown, the return to the office was once again. interrupted, creating prolonged uncertainty around the business. climate and, in turn, demand for office space.

A growing number of tenants have postponed office moves and lease extensions and have started looking for short-term flexible housing until economic conditions become more secure. This shift has therefore seen the flexible and serviced office market grow rapidly, supporting the growing demand for a larger office market.

As we move forward into 2021 and with the easing of lockdown restrictions, many companies have been able to return to the office. This resulted in a slow but steady increase in demand for office space as the space offered in the London market grew by more than 50% in the second quarter to reach 2.3 million square feet, which was the higher since the first quarter of 2020. This momentum is expected. continue throughout the second half of 2021.

It is not clear, however, that the office real estate market will ever return to what it was before the pandemic. Not only do we have to consider the fact that sales of distressed assets may not appear on the radar simultaneously with the onset of a recession, so we may not have seen the impact of Covid-19 yet. in its entirety ; but also that the office market will strongly depend on the work standard that will emerge from 2021.

A new direction

Additionally, with the change in government planning policies and the loss of authorized development rights for assets over 1,500 square feet underpinning asset purchases, many buildings remain office buildings even if they are. they would now be better suited for conversion as environmental, social and governance (ESG) aspects have now become a priority for investors and more focused / niche buildings are needed for offices.

The simple fact of studying the increase and / or decrease in uses does not, however, provide a complete picture. Another big change we are seeing in the office market after the pandemic is the remoteness of big cities. The suburbs are getting fresh again, with better air quality, more space and less travel. Along with this, it is also much more cost effective for occupants to leave the city with prices in London set at around £ 80 per square foot, against maximum rents of £ 40 per square foot for Category A buildings in the South. -East.

And while there will always be a need for well-positioned office buildings in London, the pandemic has put ESG, mental health and healthy work-life balances in the spotlight. Occupants are now prepared to pay the highest rent for Class A and retrofitted buildings to ensure employee satisfaction and achieve net zero carbon goals.

Better offices

Offices become relaxed and collaborative spaces, where the well-being and sustainability of employees are at the center of concerns. More and more companies are investing in offices that offer downtime activities and eco-responsible solutions that encourage rest and creativity. So much so that the South East is already seeing significant investor interest in out of town business parks and modernized office spaces designed to reduce stress, with features like multi-functional spaces, integrated technology , collaborative environments, open spaces and recreation and rest areas.

We can therefore predict that this increase in office needs will spill over into even higher take-over figures outside London for the third and fourth quarters of 2021. Statistics from an Avison Young South East office report for the second quarter of 2021 revealed that the South East saw a 10.2% increase in their office market between the first and second quarters of 2021. Equities in the second quarter of 2021 in this area increased by 93 , 5% from Q2 2020 and office transactions for H1 2021 reached £ 2.319 billion – keep in mind that the same reading of that for all of 2020 was £ 2.465 billion of pounds sterling. This clearly shows an increase in investor confidence and appetite which can only be promising for the market.

If the past 18 months have taught us anything, it’s that nothing is certain and predictions for any market activity can never take into account all the possibilities or factors that may influence them. The pandemic has radically changed the office real estate market, seemingly for the better and perhaps irrevocably.

Image: MCM


Source link

]]>
https://texansnflofficialproshop.com/the-commercial-real-estate-market-is-changing-rapidly-and-for-the-better/feed/ 0
Downtown Fremont anchor lands new retailers and restaurant https://texansnflofficialproshop.com/downtown-fremont-anchor-lands-new-retailers-and-restaurant/ https://texansnflofficialproshop.com/downtown-fremont-anchor-lands-new-retailers-and-restaurant/#respond Mon, 20 Sep 2021 19:12:14 +0000 https://texansnflofficialproshop.com/downtown-fremont-anchor-lands-new-retailers-and-restaurant/ FREMONT – A mixed-use housing and retail project that is poised to help breathe new life into downtown Fremont has landed three new merchants, including stores and a restaurant. The new commercial sites are part of the Capitol Square mixed-use development near the corner of Capitol Avenue and State Street. Din Ding Dumpling House, Banter […]]]>

FREMONT – A mixed-use housing and retail project that is poised to help breathe new life into downtown Fremont has landed three new merchants, including stores and a restaurant.

The new commercial sites are part of the Capitol Square mixed-use development near the corner of Capitol Avenue and State Street.

Din Ding Dumpling House, Banter Bookstore and Deka Lash Beauty Salon are the new retailers heading to downtown Fremont following recently signed leases, project co-developers TMG Partners said. and Sares Regis Group of Northern California.

“The recent leases from Din Ding, Banter Bookstore and Deka Lash reflect the growing interest in Capitol Square and the momentum building in downtown Fremont,” said Mayor Lily Mei.

The new traders mark the second wave of leases for the project. Berkeley-based Sliver Pizzeria and RawASF, a plant-based vegan cafe, had previously signed rental agreements in Capitol Square.

Din Ding Dumpling leased approximately 3,000 square feet while Banter Bookshop and Deka Lash each rented approximately 1,400 square feet.

Commercial real estate brokerage firms Lockehouse Retail Group, Coldwell Banker Commercial and Newmark helped secure the last three leases.

“These three diverse businesses will be great additions to the project and will attract downtown people from across the community,” said Mayor Mei.


Source link

]]>
https://texansnflofficialproshop.com/downtown-fremont-anchor-lands-new-retailers-and-restaurant/feed/ 0
Salinas food truck vendors have different opinions on a new order. | Local News https://texansnflofficialproshop.com/salinas-food-truck-vendors-have-different-opinions-on-a-new-order-local-news/ https://texansnflofficialproshop.com/salinas-food-truck-vendors-have-different-opinions-on-a-new-order-local-news/#respond Mon, 20 Sep 2021 07:00:00 +0000 https://texansnflofficialproshop.com/salinas-food-truck-vendors-have-different-opinions-on-a-new-order-local-news/ Stroll through the town of Salinas and you can find a range of flavors without even stepping into a restaurant, from paleteros selling popsicles to fruit carts to full-fledged food trucks selling tacos, seafood, and sandwiches. The city’s current cap for the number of food truck vendors – 32 – seems well below this diverse […]]]>

Stroll through the town of Salinas and you can find a range of flavors without even stepping into a restaurant, from paleteros selling popsicles to fruit carts to full-fledged food trucks selling tacos, seafood, and sandwiches.

The city’s current cap for the number of food truck vendors – 32 – seems well below this diverse food scene. In June, city council began the process of amending its street vendor ordinance, resulting in a proposal that would allow 52 permits for stationary food trucks and remove the cap for mobile food trucks entirely. City authorities are also proposing to designate specific areas, such as parks and parking lots, for street vendors. In order to sell food on private commercial property, a permit would be required under the proposed ordinance.

Sergio Alejo, owner of a restaurant and food truck both called Stonies, says it’s high time the city increased the number of permits. “There are a lot of unlicensed trucks,” he says. He hopes this will legalize the vendors and bring more money to the city.

Alejo’s food truck has been in business for nine years, serving barbecues, bacon dogs, and other meat-based creations at farmers’ markets, festivals and events in Laguna Seca and the Expo Center. Monterey. But Alejo has been on a waiting list for a permit in Salinas for eight years. “It’s unfortunate that we can’t operate in our own city,” he says.

According to a report from city staff, more than 370 people are on this waiting list.

Jose Urtiz owns three food trucks and the El Volcan restaurant. He believes that the increase in the number of permits would benefit entrepreneurs who wish to start a new business, but fears that this could negatively impact current sellers, especially by moving those who are currently working to high traffic streets like Alisal, Williams and Market. City staff recommend restricting vendors to high collision intersections. “They want to ban several streets, and we’ve been there for years,” Urtiz says in Spanish, concerned about both the financial and emotional impact of the East Alisal Street move. “It doesn’t do good that other business owners and residents reject you when you are just doing your job.”

City council is due to vote on both parts of the ordinance (the permit cap and locations) on September 21.


Source link

]]>
https://texansnflofficialproshop.com/salinas-food-truck-vendors-have-different-opinions-on-a-new-order-local-news/feed/ 0
Seattle needs a strong mall https://texansnflofficialproshop.com/seattle-needs-a-strong-mall/ https://texansnflofficialproshop.com/seattle-needs-a-strong-mall/#respond Sun, 19 Sep 2021 19:01:00 +0000 https://texansnflofficialproshop.com/seattle-needs-a-strong-mall/ The public safety challenges of downtown Seattle are well known. The agony of traditional retail – and what it means for big cities – has received less attention. Recreating a lively and interesting urban core for shopping, exploring and strolling will be just as important as solving the long-standing problems of street crime. As the […]]]>

The public safety challenges of downtown Seattle are well known. The agony of traditional retail – and what it means for big cities – has received less attention.

Recreating a lively and interesting urban core for shopping, exploring and strolling will be just as important as solving the long-standing problems of street crime.

As the National League of Cities wrote in a recent report, “The future of cities and the future of retail are intertwined as we rebound and rebuild from the COVID-19 pandemic. “

Across the country, the pandemic has taken its toll on traditional retailing. Eighty-seven million square feet of retail space went dark during the Great Recession of 2008. By comparison, about 158 ​​million square feet emptied in 2020, mostly due to the closure of large chains. .

More than 450 street-level businesses in downtown Seattle have closed permanently since March 2020, according to the Downtown Seattle Association. Brooks Brothers, J. Crew, Forever 21 and Sur La Table were just a few of the national retailers in downtown that filed for bankruptcy.

To address the growing number of boarded up storefronts, Mayor Jenny Durkan and city council changed laws that previously only allowed certain types of pedestrian-friendly businesses that could operate in storefronts. As of last Friday, the city began allowing businesses such as doctor’s offices, gymnasiums, art installations and bicycle parking lots to occupy the spaces.

If the policy change fills a few empty windows, that’s fine. But creating an interesting retail environment should be the ultimate goal.

City council should monitor requests to track the number of businesses that are not pedestrian-friendly entering downtown. At the same time, the town hall should encourage one-off vendors and other entrepreneurs who will increase foot traffic.

“Retail is an essential element of the dynamism of cities. It brings people downtown and boosts the tourist economy, ”said Lena Geraghty, director of the Urban Innovation Program at the National League of Cities, which supports flexible zoning and land use.

Seattle should emulate Nashville, which introduced small-scale artisanal manufacturing to its downtown area. These types of businesses attract customers interested in the production process and are good neighbors to traditional retailers, according to NLC.

A big missing piece downtown is the old Macy’s building between Third and Fourth Avenues, in the heart of the mall. The 770,000-square-foot, eight-story building was purchased by investment firm KKR and Seattle-based commercial real estate firm Urban Renaissance Group in April for nearly $ 600 million.

Macy’s closed in February 2020 and Amazon is renting the upper floors as office space.

Seattle could follow the lead of Mankato, Minn., Who helped developers divide a large retail space into small businesses. Many vendors donate a portion of their profits to local charities and causes.

Geraghty said the city government can play an important role in helping usher in an urban renaissance, bringing together developers, property owners, retailers and restaurateurs to chart the best course.

This will only happen with a committed mayor. In November, Seattle voters have a tough choice when they pick the city’s 57th general manager. This editorial board endorsed former City Council member Bruce Harrell, who understands the unique role the downtown plays as an economic engine and gateway to our region. The other candidate, Councilmember M. Lorena González, showed indifference to the city’s central core, even snubbing the Downtown Seattle Association candidate’s questionnaire.

Public safety is perhaps the most pressing concern for the downtown area right now, but the future of the downtown area is still very changing.

We need leadership that will promote retailers and restaurants to ensure Seattle bounces back as a vibrant, vibrant place where people want to spend time and money.


Source link

]]>
https://texansnflofficialproshop.com/seattle-needs-a-strong-mall/feed/ 0
Investing in Apollo Commercial Real Estate Finance (NYSE: ARI) a year ago would have given you an 81% gain https://texansnflofficialproshop.com/investing-in-apollo-commercial-real-estate-finance-nyse-ari-a-year-ago-would-have-given-you-an-81-gain/ https://texansnflofficialproshop.com/investing-in-apollo-commercial-real-estate-finance-nyse-ari-a-year-ago-would-have-given-you-an-81-gain/#respond Sat, 18 Sep 2021 12:31:42 +0000 https://texansnflofficialproshop.com/investing-in-apollo-commercial-real-estate-finance-nyse-ari-a-year-ago-would-have-given-you-an-81-gain/ The easiest way to invest in stocks is to buy exchange traded funds. But you can dramatically increase your returns by choosing above-average stocks. For example, the Apollo Commercial Real Estate Finance, Inc. The stock price (NYSE: ARI) has risen 61% over the past year, clearly outpacing the market return by around 34% (excluding dividends). […]]]>

The easiest way to invest in stocks is to buy exchange traded funds. But you can dramatically increase your returns by choosing above-average stocks. For example, the Apollo Commercial Real Estate Finance, Inc. The stock price (NYSE: ARI) has risen 61% over the past year, clearly outpacing the market return by around 34% (excluding dividends). It’s a solid performance by our standards! When you zoom out, the stock is actually down 21% in the last three years.

Let’s take a look at the longer-term underlying fundamentals and see if they’ve been consistent with shareholder returns.

See our latest review for Apollo Commercial Real Estate Finance

To paraphrase Benjamin Graham: In the short term the market is a voting machine, but in the long term it is a weighing machine. An imperfect but simple way to examine how a company’s market perception has changed is to compare the evolution of earnings per share (EPS) with the movement of the share price.

Over the past year, Apollo Commercial Real Estate Finance has seen its earnings per share (EPS) increase sharply. This remarkable rate of growth may not be sustainable, but it remains impressive. We therefore expect the share price to rise. For us, inflection points like this are the best time to take a close look at a stock.

The image below shows how EPS has tracked over time (if you click on the image you can see more detail).

NYSE: ARI Earnings Per Share Growth September 18, 2021

We know that Apollo Commercial Real Estate Finance has improved its results lately, but will it increase its income? Check to see if analysts believe Apollo Commercial Real Estate Finance will increase revenue in the future.

What about dividends?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. While the share price return reflects only the change in the share price, the TSR includes the value of dividends (assuming they have been reinvested) and the benefit of any capital increase or spin- off updated. So, for companies that pay a generous dividend, the TSR is often much higher than the return on the share price. We note that for Apollo Commercial Real Estate Finance, the TSR over the past year was 81%, which is better than the share price return mentioned above. This is largely the result of his dividend payments!

A different perspective

We are pleased to report that Apollo Commercial Real Estate Finance shareholders received a total shareholder return of 81% over one year. Of course, this includes the dividend. This is better than the 9% annualized return over half a decade, which implies that the company has been doing better recently. Since the stock price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. I find it very interesting to look at the long-term share price as an indicator of company performance. But to really understand better, we have to take other information into account as well. However, be aware that Apollo Commercial Real Estate Finance shows 2 warning signs in our investment analysis , you must know…

If you are like me then you not want to miss it free list of growing companies that insiders buy.

Please note that the market returns quoted in this article reflect the market-weighted average returns of stocks currently traded on the US stock exchanges.

If you are looking to trade with Apollo Commercial Real Estate Finance, open an account with the cheapest * professional approved platform, Interactive Brokers. Their clients from more than 200 countries and territories trade stocks, options, futures, currencies, bonds and funds around the world from a single integrated account. Promoted

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in the mentioned stocks.
*Interactive Brokers Ranked Least Expensive Broker By StockBrokers.com Online Annual Review 2020

Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


Source link

]]>
https://texansnflofficialproshop.com/investing-in-apollo-commercial-real-estate-finance-nyse-ari-a-year-ago-would-have-given-you-an-81-gain/feed/ 0
180 Solano County apartments sold for $ 70 million to East Bay Middle-Income Housing Fund https://texansnflofficialproshop.com/180-solano-county-apartments-sold-for-70-million-to-east-bay-middle-income-housing-fund/ https://texansnflofficialproshop.com/180-solano-county-apartments-sold-for-70-million-to-east-bay-middle-income-housing-fund/#respond Sat, 18 Sep 2021 00:56:30 +0000 https://texansnflofficialproshop.com/180-solano-county-apartments-sold-for-70-million-to-east-bay-middle-income-housing-fund/ An East Bay real estate investor specializing in repositioning market-priced apartments to be affordable for middle-income families has purchased a 180-unit property in Solano County for $ 70 million. Danville-based Opportunity Housing Group, a subsidiary of a multi-family and commercial real estate developer and investor, worked with the California Statewide Communities Development Authority to acquire […]]]>

An East Bay real estate investor specializing in repositioning market-priced apartments to be affordable for middle-income families has purchased a 180-unit property in Solano County for $ 70 million.

Danville-based Opportunity Housing Group, a subsidiary of a multi-family and commercial real estate developer and investor, worked with the California Statewide Communities Development Authority to acquire Waterscape Apartments at 3001 N. Texas St. in Fairfield as part of the housing program of the agency’s workforce, the group said Thursday. .

These apartments, previously rented at market rates, will have rents reduced to be affordable for low to moderate income individuals and families, the group said. He predicts that the majority of current residents will be eligible for the agency’s program, allowing them to achieve rent savings of $ 140 to $ 263 per month below current market rates.

“Our innovative workforce housing program provides housing for essential workers in our cities, a demographic that is consistently overlooked in both traditional and affordable housing development.” said Lauren Seaver, president of OHG. “Providing high quality housing at reasonable rents is one of the biggest challenges facing the Golden State today. “

Typically, the “missing link” is defined as households earning too much to qualify for subsidized housing, but not enough to pay market rents. These workers are teachers, first responders and civilian employees.

The California Statewide Communities Development Authority was founded in 1988 by the California State Association of Counties and the League of Calfornia Cities as an intermediary for the issuance of tax-exempt bonds to finance projects. The agency says it has issued more than $ 65 billion in bonds for more than 90,000 affordable units to date.

Opportunity Housing Group is acting as administrator of the Waterscape Acquisition.

A similar organization, the California Community Housing Agency, was formed by Kings County several years ago to finance the acquisition of housing through this type of bond. Catalyst Housing Group, based in Larkspur, has completed more than $ 2 billion in acquisitions of more than 4,000 units through this agency.

Waterscape Apartments has a swimming pool and spa. picnic area with barbecues, outdoor fireplace with lounge, clubhouse, business center, fitness center, playground, dog park, secure access and 326 open and covered parking spaces and garage.

The seller of the property is a joint venture between Angelo Gordon and Glencrest Group. The broker is the Institutional Property Advisors Northern California team of Salvatore Saglimbeni, Philip Saglimbeni, Stanford Jones and Alex Tartaglia.

Opportunity Housing Group was founded by directors of Blake Griggs Properties, who previously worked in North Bay on the Marin Gateway Mall in Marin City, according to its website.

Jeff Quackenbush covers wine, construction and real estate. Prior to the Business Journal, he wrote for Bay City News Service in San Francisco. He graduated from Walla Walla University. Contact him at jquackenbush@busjrnl.com or 707-521-4256.


Source link

]]>
https://texansnflofficialproshop.com/180-solano-county-apartments-sold-for-70-million-to-east-bay-middle-income-housing-fund/feed/ 0
The Pipeline: commercial real estate roundup for 9.17.21 https://texansnflofficialproshop.com/the-pipeline-commercial-real-estate-roundup-for-9-17-21/ https://texansnflofficialproshop.com/the-pipeline-commercial-real-estate-roundup-for-9-17-21/#respond Fri, 17 Sep 2021 04:37:47 +0000 https://texansnflofficialproshop.com/the-pipeline-commercial-real-estate-roundup-for-9-17-21/ TOP THREE SELLERS No.1: 8501 Midlo Pike LCC purchased 87,938 square feet To 8501 Midlothian Turnpike in Chesterfield for $ 6.6 million of RCC Midlothian Crossing LLC. Catherine spangler with Cushman and Wakefield | Thalhimer processed the transaction. N ° 2: Metropolitan properties purchased 6,020 square feet To 11-15 Randolph Street and 17, 20 S. […]]]>

TOP THREE SELLERS

No.1: 8501 Midlo Pike LCC purchased 87,938 square feet To 8501 Midlothian Turnpike in Chesterfield for $ 6.6 million of RCC Midlothian Crossing LLC. Catherine spangler with Cushman and Wakefield | Thalhimer processed the transaction.

N ° 2: Metropolitan properties purchased 6,020 square feet To 11-15 Randolph Street and 17, 20 S. Brunswick St. in Richmond for $ 2,326,200. Tom Rosman, Justin Sledd and Ken campbell with A southern salesperson represented the buyer.

# 3: 3-9 Brunswick LLC purchased 13 units at 3-9 S. Brunswick St. in Richmond for $ 1,950,000. To M Rosman, Justin Sledd and Ken Campbell with One South Commercial represented the buyer.

THREE BEST LEASES

N ° 1: Hotpot 757 rented 16,000 square feet To 10064 Robious Road in Chesterfield. Alicia Brown, Connie Jordan Nielsen and Nicki jassy with Cushman and Wakefield | Thalhimer represented the owner.

# 2: The Goodyear Tire & Rubber Co. rented 15,000 square feet To 2742 Charles City Road in Henrico. Jason Hetherington with CBRE represented the tenant.

No. 3: Virginia Department of Motor Vehicles rented 10,272 square feet To 203-259 Washington Hwy in Hanover. Annie o’connor and Richard L. Thalhimer with Cushman and Wakefield | Thalhimer represented the owner.

Email submissions to [email protected]

Cushman and Wakefield | Thalhimer reports the following transactions:

Pho 1 Grill Corp. leased 2,663 square feet at 201 Town Center West Blvd. in Henrico. Richard L. Thalhimer represented the tenant.

Toy Lair has leased 1,500 square feet at 3218-3222 W. Cary St. in Richmond. Reilly Marchant represented the owner.

Jason B. Johnson leased 1,250 square feet at 2079-2099 Dabney Road in Henrico. Craig Douglas, Graham Stoneburner and R. Scott Douglas represented the owner.

AT&T leased 1,242 square feet at 12540 Jefferson Davis Highway in Chesterfield. Alicia Brown, Connie Jordan Nielsen and Nicky Jassy represented the owner.

Focus Richmond has leased 1,100 square feet at 122 Granite Ave in Richmond. Reilly Marchant represented the owner.

SugarOak ​​Realty reports the following offers:

Flawless Hair and Nail Salon has leased 1,525 square feet at 3427 Cox Road in Henrico. Andy Walsh represented the owner.

Pinnacle Property Management purchased 6,374 square feet at 3314 N. Parham Road in Henrico for $ 850,000 from MJP Real Estate. Andy Walsh represented the buyer.

Confident Living Home Therapy Consulting has leased 3,059 square feet at 8906-F W. Broad St. in Henrico. Andy Walsh represented the owner.

Sperity Real Estate Ventures reports the following transactions:

Buyout BBQ has leased 1,124 square feet at 3420 Lauderdale Drive in Henrico. Nathan Hughes and Veronica Wiles represented the tenant.

AR Workshop Mechanicsville leased 3,200 square feet at 7362 Bell Creek Road, Unit 21-22, Hanover. Veronica Wiles and Nathan Hughes represented the tenant.

Suzysnow LLC has sublet 700 square feet at 317-A N. 2nd St. in Richmond. Veronica Wiles and Nathan Hughes represented the sub-lessor.

Taylor Long Properties reports the following agreement:

BB BHF Stores dba Buddy’s Home Furnishings has leased 4,800 square feet at 3099 Mechanicsville Turnpike in Henrico. Robert Marshall and Rebecca von Meister represented the owner.

CBRE reports the following transactions:

ZenBusiness leased 706 square feet at 2008 Bremo Road in Henrico. Grant Johnson represented the tenant and the landlord; Eric Williford and Chris Wallace represented the owner.

King Tobacco and Vape has leased 1,200 square feet at 6417 Iron Bridge Place in Chesterfield. Grant Johnson and Brad Lowry represented the tenant.

Asian Massage Center leased 1,232 square feet at 8127 Staples Mill Road in Henrico. Susan Jones and Grant Johnson represented the owner.

Divaris Real Estate reports the following transactions:

Phase 27 leased 3,516 square feet at 27 W. Broad St. Richmond. Sara Goodall and Madeleine Alderman represented the owner.

Starbucks in Winding Brook has leased 2,500 square feet in Lewiston Road and Lakeridge Pkwy in Ashland. Loretta Cataldi and Jimmy Cunneen represented the owner.

Adams and Drummond leased 1,850 square feet at 4715 Nine Mile Road in Henrico. John Madures represented the owner.

One South Commercial reports the following transaction:

16 S 2nd Street LLC purchased 4,722 square feet at 16 S. 2nd St. in Richmond for $ 560,000. Ann Schweitzer Riley represented the buyer.

Commonwealth Commercial Partners reports the following transactions:

Brianna Earl dba The Self Love Co. has leased 1,552 square feet at 1321 ½ E. Main St. in Richmond. Eric Hammond represented the owner.

16 S. 2nd Street LLC purchased 6,296 square feet at 16 S. 2nd Street in Richmond for $ 560,000 from EHK Associates. Thomas Lynde and Eric Hammond represented the seller.

Colliers reports the following transactions:

Medical Home Plus has leased 390 square feet at 1504 Santa Rosa Road in Henrico. Megan Sullivan and John Carpin represented the owner.

Cognicion leased 6,986 square feet at 1510 E. Parham Road in Henrico. David Wilkins, Rebecca Barricklow and Joe Marchetti represented the owner

IvyRehab Midlothian has leased 2,081 square feet at 14308 Winterview Parkway in Chesterfield. Peter Vick and Harrison Hall represented the owner.

Jason B. Johnson leased 1,250 square feet at 2081 Dabney Road in Henrico. Zach Roski and Tom Vozenilek represented the tenant.

All Secured Home Health has leased 708 square feet at 8001 Franklin Farms Drive in Henrico. Catherine Walker, Matt Anderson and David Wilkins represented the owner.

Jason B. Johnson leased 1,250 square feet at 2081 Dabney Road in Henrico. Zach Roski and Tom Vozenilek represented the tenant.


Source link

]]>
https://texansnflofficialproshop.com/the-pipeline-commercial-real-estate-roundup-for-9-17-21/feed/ 0
What’s next for DFW Grocery Retail? https://texansnflofficialproshop.com/whats-next-for-dfw-grocery-retail/ https://texansnflofficialproshop.com/whats-next-for-dfw-grocery-retail/#respond Thu, 16 Sep 2021 17:33:41 +0000 https://texansnflofficialproshop.com/whats-next-for-dfw-grocery-retail/ The North Texas grocery retail industry has seen only a handful of disruptions over the years. There was a time when stores were clustered in downtown Dallas. Then came sprawl, and the grocers were very successful following the rooftops to the suburbs. Another big change came when Walmart began opening supercenters in North Texas. Other […]]]>

The North Texas grocery retail industry has seen only a handful of disruptions over the years. There was a time when stores were clustered in downtown Dallas. Then came sprawl, and the grocers were very successful following the rooftops to the suburbs.

Another big change came when Walmart began opening supercenters in North Texas. Other retailers have tried to follow suit, selling everything from clothing to outdoor umbrellas, some tripling in size. Most eventually found they couldn’t compete with the industry giant, forcing several competitors to close their doors.

Convenience stores such as 7-Eleven grew in popularity, but never became a real competition with the traditional grocery store. Then, in 2017, Amazon acquired Whole Foods for $ 13.7 billion.

“It was the biggest disruption I’ve seen in my career and the most impacting on spending habits and the way people do things,” says Jennifer Pierson, Managing Partner of Strive, whose career dates back to 1994. when she joined CBRE. “People stayed away from investing for probably a year and a half after that. It’s not that the cap rates have widened so much; it’s that institutions have pulled out of the game altogether, especially those that are publicly traded because their stock prices have fallen.

Many believed that Amazon’s e-commerce empire, sophisticated trucking distribution network, cutting-edge technology, and deep pockets could all help Whole Foods run its old-school rivals in circles. With the rise of e-commerce, the lasting impacts of a global pandemic, and as Venture Partners CEO Mike Geisler calls it, HEB’s “1,000-pound gorilla” entering the 17-year grocery market. , $ 5 billion a year from DFW, insiders say there are reasons some in the industry feel threatened.

The quest for market share

When HEB expanded to North Texas earlier this year announcing new locations in Frisco, McKinney and Plano, discussions quickly began over what the brand’s presence would mean for the dozen grocers already doing business. here. Market leader Walmart, which now has just over 30 percent of the market share, has great buying power and very competitive prices, and is unlikely to be as affected as other brands. Instead of shelves, the war with HEB could be on earth. When Walmart tried to break into the heart of San Antonio, HEB bought properties in key areas to deter it.

With HE-B’s Central Market and its other namesake brand in outliers such as Waxahachie, Burleson, Hudson Oaks and Granbury, it already controls a 4.5% market share in North Texas. Experts say Tom Thumb and Albertsons could be among the most at risk. Together, the brands of Albertsons Cos. hold around 12% of the local market share, according to Metro Market Studies.

HEB has yet to confirm plans to set up a store in Dallas and has been adamant about plans to strengthen its presence in the central market. According to the property records, however, there are three sites that could constitute future locations in the city (Buckner and Samuel boulevards; the nearby sites and on Lemmon Avenue; and on Beckley Avenue and Neeley Street). Former Dallas board member Chad West previously said D CEO that HEB was bringing a store to Oak Cliff. Weitzman executive general manager Bob Young says it will be a game of waiting to see how the grocer affects the market.

West said he knows the company owns this property, which is in his district, and that it is also part of HE-B’s future plans. He remembers HEB telling him that the North Oak Cliff store would follow the reopening of the tornado-damaged Preston-Royal Central Market and once the new Uptown location was completed. West says he was told HEB “was looking for a developer to help facilitate the project to turn it into more than just a grocery store, but a multi-purpose project.” The company declined to provide details on specific plans. In an email, a spokesperson for the company wrote, “We often buy land in anticipation of future needs. We look forward to serving other areas of DFW in the future.

The North Oak Cliff location is said to be a departure from the suburban areas HEB has so far targeted in North Texas. Data from the US Census Bureau’s American Community Survey indicates that the zip code for this potential store is 35% black, 54% Hispanic, and only 8% white. However, the region is developing rapidly, so these numbers may change.

“HEB is used to taking their time to get it right, so the biggest impact will be that everyone in the industry is watching to see where they are setting up, what type of store formats they are opening and where they will land. then, ”he said. . “As in other Texas markets, they will be considered a benchmark.”

Convenience vs experience

HE-B’s impending presence comes as grocery brands try to catch up with home delivery and curbside pick-up trends that have accelerated during the pandemic. Young says when people think of ordering online, they always tend to think of the local grocery store. That’s why he’s optimistic about an increase in curbside pickup among stores already in business, including newcomers who are hyper-focused on one specific business, such as the relatively new Tom Thumbs at The Union and Live Oak. Street.

In DFW’s 200 million square foot retail market, nearly 75 million square feet is anchored in the grocery store.

Grocery retailing remains a staple in the commercial real estate game. Together, it represents 74.7 million square feet of DFW’s total retail market of 200.2 million square feet, according to a Weitzman report that analyzes properties of at least 25,000 square feet.

Across the industry, grocery stores are starting to replace shelves that once housed grocery stores with curbside pickup. Experts we spoke with agree that stores that aren’t mastered with curbside pickup or focus on the growing trend of experiential retailing (think Whole Foods, Central Market, and Trader Joe’s) will be losers. Data shows that customers across generations are increasingly valuing the experience.

“I know people who love the chocolate bar at Whole Foods, but it just doesn’t make as much money per square foot as the cheese,” Geisler says. “Buyers have evolved and we are waiting for experience. I think once you figure out how to do this you are ahead of the pack.


Source link

]]>
https://texansnflofficialproshop.com/whats-next-for-dfw-grocery-retail/feed/ 0
Sussex Co. to begin property reassessments after lawsuit settles https://texansnflofficialproshop.com/sussex-co-to-begin-property-reassessments-after-lawsuit-settles/ https://texansnflofficialproshop.com/sussex-co-to-begin-property-reassessments-after-lawsuit-settles/#respond Tue, 14 Sep 2021 20:55:02 +0000 https://texansnflofficialproshop.com/sussex-co-to-begin-property-reassessments-after-lawsuit-settles/ SUSSEX COUNTY, Delaware – Delaware is adding another chapter to its multi-year legal battle over property values. The state settled in with Delawareans for Educational Opportunity and the NAACP of Delaware earlier this year. The plaintiffs said the model used to assess property in Delaware is outdated and puts students in public schools at a […]]]>

SUSSEX COUNTY, Delaware – Delaware is adding another chapter to its multi-year legal battle over property values. The state settled in with Delawareans for Educational Opportunity and the NAACP of Delaware earlier this year. The plaintiffs said the model used to assess property in Delaware is outdated and puts students in public schools at a disadvantage.

As part of the settlement, the three counties agreed to conduct a general reassessment of all properties under their jurisdiction.In Sussex County, over 180,000 residential and commercial properties will be reviewed. The county is asking the public for help in determining the best way to proceed with the reassessment. Five face-to-face meetings and one virtual session have been scheduled to give the public the opportunity to express themselves and learn more about how the process works.

Face-to-face meetings will take place at the following times and locations: Thursday, September 23, 2021, 2 p.m. to 4 p.m., Milton Fire Department, 116 Front Street, Milton; Thursday, September 23, 2021, 6 p.m. to 8 p.m., Delaware Technical Community College-Owen Campus, 21179 College Drive, Georgetown; Monday, September 27, 2021, 6 p.m. to 8 p.m., at the Delaware National Guard-Bethany Beach Training Site, 163 Scannell Boulevard, Bethany Beach; Wednesday, September 29, 2021, 6 p.m. to 8 p.m., at Millsboro Town Center, 322 Wilson Highway, Millsboro; Thursday, September 30, 2021, 6 p.m. to 8 p.m., at the Seaford Volunteer Fire Department, 302 King St., Seaford.

Virtual event takes place Monday, September 27, 2021, from 2 p.m. to 4 p.m., it will be available on any computer or mobile device at this link. The county is asking people to remember that each site may have different COVID-19 policies. So, people who plan to attend should prepare in advance. County representatives will be on site, along with representatives from Tyler Technologies. The company will take care of the reassessment process. This is the first time that Sussex County has undergone a general reassessment.

The reassessment process includes the evaluation and recalculation of properties based on accepted industry practices. The aim is to come up with new valuations that will show the true value of these properties. These reassessments are all part of a formula used to determine the individual tax bills homeowners have to pay each year. Bills include taxes for independent county and local school districts. Currently, Delaware law requires landowners in Sussex County to pay school taxes on behalf of school districts. These funds are then returned to the State of Delaware.


Source link

]]>
https://texansnflofficialproshop.com/sussex-co-to-begin-property-reassessments-after-lawsuit-settles/feed/ 0