The city of Dublin, Ohio has embarked on a grand project with this one so here’s an update on the progress. The project is moving along and the city is offering a quick look at what it could be. http://vimeo.com/61395284 The Bridge Street Corridor run along State Route 161 (Bridge Street) from Sawmill Road through…
The City of Westerville is looking at a plan to more effectively utilize the 1,100 parking spaces in the Uptown district. The plan is to create mid-block alleys and redesign the north – south alleyways. The north – south alleys could take some of the pressure off of State Street which currently gets jammed at…
According to CoStar News, sales of commercial real estate in the United States reached $64 billion last year, which is the highest since 2004 and increased 22 percent from 2011. The price gains spread beyond multifamily into industrial, office and retail. Even commercial land showed signs of awakening mostly due to demand for multifamily with…
Since this is the community where I actually live I thought I would post an update regarding activity in old uptown Westerville. The project at 7 & 9 N. State that my clients are working on is progressing nicely. The building was a disaster and has been gutted and rebuilt. The exterior is being restored to…
What I have been experiencing over the last two or three quarters in regards to triple net or absolute net, single tenant retail seems to be reality according many in the industry, including Mark Heschmeyer of CoStar News. Where are all of the net leased retail opportunities? There’s been strong activity over the last 18…
We all know that the single tenant, triple net, national credit, retail supply has been tight all year with cap rates falling to the 5 to 6% range. I expect to see the supply side loosen up a bit as more triple net and absolute net leased, investment grade credit, corporate leased, retail properties come on…
Retail Traffic Magazine projects that Boston, Houston and Los Angeles will experience rent increases for class A retail space during 2013. In the United States, it’s projected that Boston, which has average class-A rents of $85 per sq. ft. to increase to $95 per sq. ft. in the second quarter of 2013. Dallas class A…
Buyer need – Corporate leased triple net c-store such as 7-11, Circle K, Walgreens or CVS with 8 years or more unexpired absolute net lease for 1031 SoCal buyer. Gas or without gas is fine on the C-stores. Single tenant only. S&P BBB or better. This mean investment grade guarantor on the lease. No franchisees. However, it must…
Commercial real estate prices posted major gains in July across all segments to further support the widely held view that we are at the beginning of a broad based recovery. The two broadest measures of property pricing in this month’s CoStar’s Commercial Repeat Sales Indices (CCRSI) shows big gains for both high end investment grade properties…
I did a short post on the Dublin, Ohio, Bridge Street development a couple of weeks ago. I’ve since located much more detail regarding the long term development, which is at the link thanks to Walker Evans of the Columbus Underground blog. The development will bordered by I-270 on the north and west and State…
7I’ve been writing about this topic for most of the last 18 months. There is very little supply out there of the triple net or absolute net, single tenant, national credit retail opportunities, and that is of course what everyone wants. And what is available gets highly competitive and results in multiple offers and stupid…
I attended a seminar last week sponsored by the Columbus Board of Realtors with one of our largest regional banks, and I want to disseminate some of what I heard. Banks once again have production goals, so that could benefit you , the investor or owner user, IF you fit their profile. Huntington Bank as…
Today, I’m going to take a look at the preferred type of product for most of my buyers, and frankly for most buyers on the market these days, and that is triple net or absolute net, single tenant, single parcel, corporate leased retail. We’re talking the Wal-Mart’s, Kohl’s on the large end. Walgreens and CVSs…
Before I discuss some of the common pitfalls to be aware of by a potential buyer when evaluating a property for purchase, I’ll review the clauses that at least should be included in a commercial lease. It’s not uncommon for a commercial lease to be 40 or even 50 pages long. Proper description and verifiable…
This is part four in my series on 1031 exchanges. Keep in mind that I’m using the current capital gains rate of 15%. Depending what happens on November 6th, these number may change … radically. The tax savings versus a taxable sale comparison 1. Calculate Net Adjusted Basis Original Purchase Price + Improvements _________________ – Depreciation _________________ =…
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We analyze, list, market, and sell, single and multiple tenant retail properties all over North America using the latest high tech tools available. Retail Lease Terminology/ Recommended Clauses for Commercial Lease Agreements/ Triple Net Single Teanant Retail/ Commercial Transactions – SNDA and Tenant Estoppel Agreements/ For commercial real estate properties for sale, see my listings tab…
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….
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…
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…