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Last week, I was in Denver at the annual   SIOR World Conference . In advance of the meeting, I wrote the following article about why I look forward to attending these meetings year after year and sent it to my fellow SIOR members. I heard from a number of colleagues who shared that they enjoyed the piece, and upon re-reading it, I thought it included some good tips that could apply to any gathering of colleagues.  I’ve been attending the SIOR World Conference for a decade, and I look forward to it each year. It’s a very open and friendly group, so it’s easy to strike up conversations with like-minded people. I was able to create relationships with people ...
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JANESVILLE - Redevelopment plans unveiled on Tuesday, September 25, show Janesville’s former General Motors plant site will rely heavily on an attribute few area industrial sites have: ready-made railroad infrastructure. Actually, under “preliminary” plans that owner Commercial Development Company showed off at a public open house, the site will make even greater use of Wisconsin & Southern Railroad and Union Pacific Railroad lines that bisect the 250-acre property. Tuesday marked the first time the public has gotten a peek at how Commercial Development could market the site when it’s finished clearing what’s left of the more than 4 million-square-foot ...
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You, my readers, know how much I love using virtual assistants and value how they help me complete tasks while freeing up my time for more productive pursuits. This may sound to be pushing the envelope to some, but last week I got a call from a NYC investor who invests $250M to $1B a year and his support team consists of two project managers, one personal assistant and a bunch of VAs. That was surprising to hear even for me, but the part that really blew me away is that he outsources his underwriting. This idea will be unnerving to most investors, developers and brokers. I mean, what’s the scariest task you could delegate to an unknown person, located who ...
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To all attendees of the Fall World Conference in Denver- I want to call your attention to the programming put on by the SIOR Technology Committee at this conference- titled " Investing in CRE Tech- Perspectives from Landlord and Brokerage Firms" . Why should this be of interest? In short, there are massive bets on technology being made by the large landlords and brokerage firms  right now. Their decisions to grow technology from within, buy technology firms, or partner with them will alter how you do business in within the next 1-3 years. Recent highlights- JLL launches $100 Million fund to invest in tech via JLL Spark- for more on this- see ...
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I attended the CRETech Conference in Los Angeles last Thursday, and it was another informative and worthwhile event. I thought I’d share some key takeaways I got from the 4 hour event:   If you don’t know who Fifth Wall is, you should. Fifth Wall is the leading CRE Tech venture capital firm. Their first fund invested in companies such as VTS, Open Door, Clutter and Industrious. Fund I investments now generate over $100MM in revenue. They are now on to Fund II. Keep an eye on them and who they invest in. Very smart team.  “Space” vs. User Experience- It is the experience you feel in a commercial building that really matters, and where smart owners ...
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Many of us check out in the summertime, with vacations to take and the kids around more, it can be enough to just focus on getting the work done that needs to be done. I know I make an effort to give my family more of my time during the summer months and don’t spend as much time networking and reaching out to people as I do the rest of the year. The result is now that I’m back in the office full time, I can feel overwhelmed and disjointed. This means time to make a conscious effort to invest in new relationships. I’d like to encourage you to think about who you are connecting with and how those connections influence your success. Read more here:  http://cardinal-partners.com/blog/2018/09/need-right-neighborhood/
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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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