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As I move among economic development circles and talk with local commercial real estate colleagues, I’m sensing a new emotion among those who are working to make Charlotte grow: Envy. Even indignation. Since Charlotte lost out on the Amazon headquarters and then the AllianceBernstein relocation, moods have gotten surly. Read more here:  http://cardinal-partners.com/blog/2018/07/economic-developers-just-ignore-sunken-costs
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One thing I love about my job is the diversity of people and experiences that I have. Recently I started my day at the Copper Kettle Restaurant off of Westinghouse Boulevard meeting with a farmer about his land. Afterward , I went home to put on a tie and ended up on the 47th floor of the Hearst Tower speaking as a panelist for the Mortgage Bankers Association (MBA). Read more here:  http://cardinal-partners.com/blog/2018/07/fannie-freddie-ortlip-opine-charlottes-market
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While speaking as part of an expert panel at the 9th annual InterFace real estate conference this week, I was struck by the discouraged tone. It was a tone I had never really heard before from this group of experienced CRE professionals. Read more here:  http://cardinal-partners.com/blog/2018/06/charlottes-ego-finally-become-bruised
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On May 24th, the SIOR Wisconsin and Chicago Chapters collaborated to host the "94-South Dealmakers" happy hour event in Kenosha at The Club at Strawberry Creek. The presenting sponsors for the event were FCL Builders, Sebert Landscape and Wisconsin Economic Development Center (WEDC). Over 40 members, prospects and sponsors were in attendance.  The goal was to bring together, the members who worked together to have and will continue to transform the 94-South Corridor with the opportunities presented by Foxconn and other major companies growing along this corridor.  Registered attendees donated more than $500 which will be given to the Racine County Food Bank.  ...
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On May 8th, the SIOR Wisconsin Chapter participated in the annual Service Day at the Wehr Nature Center in Franklin, WI, located in Whitnall Park. The services accomplished included readying the Children’s Play Area, removing invasive plants (Celandine) and trimming overgrown vegetation. Chapter members brought great enthusiasm and teamwork to the site, making it a productive day of service. Afterwards, the Wehr Nature Center treated everyone to a tour of the beautiful park grounds, giving volunteers an opportunity to fully appreciate the cause being served. Participating volunteers included: Jeff Hoffman, SIOR, CCIM (Cushman & Wakefield | BOERKE); Adam ...
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Commercial real estate investors are being warned that CRE markets will soften in the Carolinas over the next 12 months. We are already seeing signs in the low productivity malls and power centers in the areas of Raleigh, Greensboro and Charlotte. Joi Mar, a senior analyst at California-based Green Street Advisors, was quoted recently as saying “value appreciation has practically stopped in aggregate.” Green Street’s Commercial Property Price Index dipped 1 percent in March and has seen little change over the past two years, according to   National Real Estate Investor . But the industrial sector hasn’t yet peaked. Cap rates have been inching up over the ...
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The  Charlotte Business Journal  reported last week that Charlotte was purportedly one of two finalists for becoming the new home of AllianceBernstein Holding L.P., a New York finance giant. AllianceBernstein chose Nashville for its new headquarters, where it will invest upwards of $70 million and create 1,050 corporate office jobs, according to the  CBJ . The decision, the article suggests, was heavily influenced by the state and city’s lower property taxes. C-suite executives appear to be chasing lower tax structures more than ever these days. And it’s made me wonder whether Charlotte lost out on this headquarters, and the Amazon project, because of income ...
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We've heard about companies like Microsoft and IBM allowing remote employees to work from coworking hubs. Now more big brands are forming partnerships with shared workspaces. A press release from WeWork predicted enterprise clients will grow by 360 percent over a twelve-month period ending June 2017. What is attracting these large, multinational companies to coworking? 1) Proximity to the Innovators Coworking spaces are natural hubs for innovative new business ideas and upcoming talent. By partnering with a shared space, companies host incubators or accelerator programs. This allows the company and other promising talent connect with novel innovations ...
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Written By: Michael Beckerman - Founder CRETECH Talk about high energy and passion,  Turner  Levison exudes this and more! I had the great pleasure of meeting him at our SF event and was really impressed. Tuner and his team are focused on the commission accounting side of the residential and commercial business. Their product automates the manual and tedious parts of the leasing business so brokers can focus on closing deals and servicing clients. Their products allow you to Instantly capture, account and report on all things commissions. What’s so cool about  CommissionTrac is they are the only software solution  I have found that has an actual team of virtual ...
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2018 is going to be another year where the lines between commercial real estate and the technology industry get blurrier. Here are the technologies that we're tracking and that we see changing how you occupy, lease, use, manage and interact with commercial real estate. AR/VR Although the concept of virtual reality has been around for decades, the technology has advanced to a point where it can enter the mainstream business world. VR is impacting   office design   and business travel as some companies choose to use virtual meeting scenarios that actually work. The process of marketing spaces for lease and purchase is being streamlined by advanced ...
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A detailed company information (about Modesta Real Estate) can be found here: MRE_Company_Information.pdf
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I recently released our latest year end newsletter that highlights the  primary factors driving the buying, selling, and leasing activity for data centers from the past year. Some 2017 insights include: 25% increase in inventory of Multi Tenant Data Centers (MTDC) available or being built compared to last year. 120 MW being built or available in Northern Virginia is 75% greater than last year. There was over $20 BN of investment activity during 2017(which is more than 2015 &2016 combined), we anticipate new MTDC inventory to continue to be built targeting hyperscale users, social media companies, enterprise users and even bitcoin operators. ...
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As we identify the top 10 trends likely to drive the commercial real estate world in 2018 and beyond, we'll start with big picture drivers. Check back soon for the second half of the top ten, which will focus on specific product types. 1. The Economy Will Remain Strong 2018's overall economy is likely to be driven by ongoing expansion in the overall economy. While there will be regional differences, a combination of strong corporate performance, business-friendly tax policy and consumer demand and spending should make 2018 another year in this current record-setting expansionary cycle. 2. Infrastructure is Coming Now that Washington has ...
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This article comes from the REoptimizer® Blog Commercial real estate leases are complex documents, but they can be understood when you have some background about the terminology associated with them. The types of leases commonly used in commercial real estate is a good starting point, as understanding what each of them involves can help you determine which type will be the best fit for your business needs. The three types of leases are:   Gross Lease   Also known as a full service lease, a gross lease includes all of the   operating expenses   for a property, such as the utilities, maintenance and property taxes. The upside of these leases ...
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Moving to new office space requires expenditures of time and money. After investing in a move, the last thing that you want is to choose a location that doesn't completely work for you and find yourself having to move again at the end of your lease. Following these tips will help to ensure that you make the right decision regarding commercial real estate leasing.   1.  Consider Your Overall Strategy As a company, you likely have strategic goals already in place. Before you begin to consider real estate, take a moment to jot them down, then think about how your office space plays into them. For example, if your focus is on enhancing efficiency and ...
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Reposted from REoptimizer.com Our mobile devices, computers, automobiles and household electronics and appliances are constantly evolving as technology continues to advance and open the door to new features and functionality. The lighting fast advancement of tech is also impacting the business world in new and exciting ways. New technologies are even shaping commercial real estate, setting the stage for office spaces that are more advanced than ever before. Here are some of the features being developed for the offices of tomorrow: 1.  Better Health Through Tech Employee health and wellness has become a major focus for large corporations. Companies ...
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Same-day delivery could be coming soon for consumers – and that’s also great news for those owning warehouses. The industrial sector is extremely busy now. I’d call it the hottest slice of the commercial real estate market. I’ve been pursuing the acquisition of industrial buildings since last summer and I’ve witnessed how investor demand is outpacing supply. I have seen firsthand how the fundamentals of this industry have changed over the past 25 years, but the huge spike in user demand for warehouse space for same-day delivery is a first. Read more here:  http://cardinal-partners.com/blog/2017/06/fresh-peach-delivered-drone-turned-building-gol
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Reposted from REoptimizer.com Leasing industrial space rather than purchasing a building or funding a construction project can be a smart move for your company, especially if you are uncertain that you will remain in the same location for the long term. To ensure that you select the right space to lease, follow these tips:   1.  Think in Three Dimensions   When you are renting an office space, you normally only consider the square footage of units to ensure that you have enough room for your team. For industrial space, it is important to think beyond the lengths and widths of the rooms. Pay attention to the cubic square footage, which includes ...
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Reposted from REoptimizer.com When you read a list of tips for commercial leases, you are sure to see recommendations about negotiating fair terms rather than simply signing any contract as-is, but just what should you be negotiating when you sit down at the table with a prospective landlord? Here are some of the top areas where there is room for you to negotiate and make your lease as advantageous for your business as possible.   1.  Base Rent   Head to the bargaining table armed with knowledge about what the going rental rates are for comparable units or buildings in your area. If you have on paper what other companies are paying, you can ...
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Father Knows Best

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I’ve written about this concept a lot: Commercial real estate is complex and becoming more so. This Father’s Day, I am reminded of how my father taught me how to make complex issues simple for clients. During my dad’s career, he helped many of the old families in the Carolinas perform estate planning. His preferred method was through complex and highly structured insurance plans, many of which are common today but which he helped pioneer back in the early ‘70s. Many of his clients were busy running textile mills and furniture companies, not reading up on the details of onerous tax laws, and my father had to make these complex plans simple for his clients to ...
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