For April 2012, DQ News reported that 19,284 new and resale homes sold Southern California last month. That was down from March by 3.4% and up 5.1% from the 18,344 sold in April 2011. April’s median price was $290,000 for southern California, which is up 3.6% from $280,000 in March, and also up 3.6% from…
I have something a little unusual for someone who is maybe retired or semi-retired. It’s great for a buyer who spends the summers up in here Central Ohio and wants something to do with a real good income for four months of light work. This is on-going successful business and everything is included to step…
I’m going to create a series of posts on 1031 exchanges over the next couple of month from the basics, starting with this post to the more complex. First of course is the disclaimer: always seek professional help through your tax attorney and/or CPA before and during an exchange. I am a commercial real estate professional…
There are big differences on expansion plans for 2012 as we come out of this giant downturn and Obama Care goes into to full effect in 2014. To summarize: Rite Aid hopes to return to limited growth. Walgreens ramps up again after restrained growth over the last three years and CVS is full speed ahead….
Buyer need – Corporate leased triple net c-store such as 7-11 or Circle K with 8 years or more unexpired absolute net lease for SoCal buyer. Gas or without gas is fine. Single tenant only. S&P BBB or better. This mean investment grade guarantor on the lease. No franchisees. However, it must be triple net or…
Given that election time is but six months away, I’m hearing a bunch of ‘what if’ discussion from clients, friends and other commercial brokers regarding potential tax ramifications with the Bowles – Simpson Plan, the Ryan Plan and the Buffet Rule and the ramifications if you choose not to do a 1031 exchange. I don’t…
Many folks are aware that Starwood Capital Group agreed to acquire $1 billion in seven shopping centers from Westfield and KKR. As Starwood is starting to acquire retail commercial real estate we expect other REITs to do the same across the country as an expected surge in new retail properties are expected to hit the…
A strengthening residential market seems to be the rule around central Ohio over the last year and its getting stronger. First quarter 2012 homes sales for Central Ohio were up 7.1 percent over first quarter 2011 with 4,045 this year versus 3.776 last year. The average price for March 2012 was $153,557, which is up…
True, many banks are still working through their distressed property pipeline, but many have recently decided that it’s time to jump back into commercial lending, and yes, even for development and construction financing. It must be noted though that this is one area that brought down more banks during the downturn than any other. The…
Randyl Drummer with CoStar News reports that the rebound in office type jobs is becoming strong enough that we could see rent growth in the near future. The growth spreading to smaller businesses and secondary markets coupled with positive absorption and little new supply coming on the market will lead to rent growth over the…
It was just announced by Mark Heschmeyer at CoStar News that Blackstone, DRA Advisors and AEW Capital invested in large industrial portfolios valued at a total of $1.5 billion. That’s over one third of all industrial sales completed this year. The industrial segment has been healing nicely this year with vacancy falling almost a full point…
For March 2012, DQ News reported that 19,953 new and resale homes sold Southern California last month. That was up from February by 36% and up 2.8% from the 19,412 sold in March 2011. The average increase is 37% from February to March since 1988, when DataQuick’s statistics began. This sounds like great news, but…
First quarter 2012 softened a bit as compared to fourth quarter 2011, but net absorption remained positive according to Mark Heschmeyer of CoStar news. Plus, a mild slowdown in the rate of recovery is balanced by the lack of new commercial space coming out of the ground so as a result, vacancy rates are still…
An Atlanta Developer has signed on to build a $50 million apartment complex with groundbreaking scheduled for late this summer and completion for late winter 2014. The complex will consist of three six story buildings with 300 units over 23,000 sq ft. of first floor retail. Apartments will be built to “condo specifications,” Capitol South Community…
This is British Petroleum’s first deal in oil and gas rich shale in Northeast Ohio. The deal is reported to be worth $331,000,000 based on a $3,900 per acres up front bonus payment. It’s estimated that it will take another six months getting lease signatures from individual land owners in the area before work can…
As many of us are aware, unless congress takes action, the top tax rate of dividends will increase from the current 15% to 43.4% next year. That’s a top ordinary income rate of 39.5% plus the 3.8% on investment income as part of Obamacare passed in 2009. Another good reason for commercial real estate and…
Dublin Ohio’s 800 acre core has been slated for a massive redevelopment effort along Bridge Street from Frantz Road to Sawmill Road. Now, Dublin has a plan that will redevelop the corridor “into a mix of high density uses – an urban, walkable community that will include new options in housing, entertainment, retail and areas…
This is the last reminder because valuation appeals are accepted from December to March 31. Your chances of winning are about half so it’s well worth doing, but must be done correctly and very soon. It’s the 27th so get moving. Lock your new, hopefully lower, valuation in for three years. Take a look at the…
At the link is a status update on our new Hilton Hotel across from the convention center in Columbus’ Short North. The pedestrian bridge is yet to be received and installed, but other than that the exterior is mostly complete. The grand opening is set for mid October. http://www.bizjournals.com/columbus/blog/2012/03/slideshow-hilton-hotel-update–.html
As primary markets get ridiculously overpriced and the much preferred single tenant, triple net or absolute net corporate leased retail properties more and more unavailable, investor focus is shifting to secondary markets such as this one, Columbus, and Seattle Dallas, Phoenix and even Detroit. Solid deals are around in these markets and with interest rates…