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…
The recovery is spreading west, which had been a deeply affect region of the country by the residential housing collapsed combined with the deep recession. There has been a few technology and/or energy based markets in California and Texas that have done well over the last couple of years and that strength is broadening to…
I’m not saying that we’re quite back to pre crash levels of pricing but we’re getting there. Given the general malaise in the American economy with job growth, GDP growth and most other indicators, it’s surprising that the commercial real estate recovery has been as strong and broad based as it has. It didn’t start…
I’m going to do a real quick, hopefully brief ‘Cliff Notes’ summary of these two important documents. This of course applies to not only retail, but any commercial transaction where there is a tenant and a lender involved. Anyone who has survived the commercial loan process knows about these two documents. Tenant estoppels and SNDA…
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…
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…
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….
CoStar’s monthly National Composite Index of Commercial Real Estate posted gains in eight of the last nine months for January 2012. True, it’s March 15, 2012, but it takes them around 45 days to get the numbers out to us. With the gain in January the national composite index is now 1.9% above January last year….
Several new under construction, 20 year absolute net leased, single tenant, single parcel Walgreens in various areas of the country are available as of today, individually or as a portfolio. This seems to be everyone’s favorite triple net NNN retail product. Great 1031 exchange product. Call me if interested, Scott Harris at 310-473-4789 or 614-905-6614
Randyl Drummer from CoStar news writes, and I agree, that retail rents will begin to rise this year. It’s not so much a huge increase in demand as much as there is virtually no increase in supply. The supply / demand balance is tipping in favor of the landlord. Construction financing is still a pain…
It’s back! Business is cranking again and the phone is ringing. CoStar news reports that the dollar volume of commercial real estate transactions are back up to historical long term average and that’s with a lousy third quarter 2011, due mostly to the debt limit impasse That’s a total of $291.6 billion last year, which…
America’s largest retail trade organization forecasts a healthy 3.4% growth for 2012. That’s below the 4.7% of 2011, but the rate of growth for 2012 is sustainable at least until the next bust and there will be one in seven or eight years. Nothing is going to make the boom bust cycles go away. The…
I think 2012 will be a considerably better year for commercial real estate and an improved year for single family residential. I’m working with out of state retail buyers looking for out of state, single tenant, triple net leased or preferably absolute net leased with a long corporate lease, so in this manner, business is getting…
According to Roger Vincent with the LA Times. “As 2011 came to a close, some commercial real estate experts found promising signs in often troubled markets.” I agree, but that’s quite an understatement in certain segments. In certain market segments, it’s getting real competitive and in others, it’s still lagging. Primary markets are doing much…
Retailer seeks Central Ohio franchisee for entire Columbus MSA. Great brand that has never been here before. Potential of seven to ten stores. It makes no difference whether the real estate is owned or leased. Needless to say, I would like to handle the real estate acquisitions for the franchisee. Great potential with this one.
I few posts ago I promised that I would go into greater detail regarding aspects of a commercial lease that the prospective buyer needs to examine carefully. Without the underlying leases the property is worth replacement costs and comps of similar vacant property. Given that the cash flow of the leases in place is what…
Seeking additional long lease, investment grade, single tenant, triple net leased, opportunities nationwide. Please contact me, Scott Harris at 310-473-4789 or 614-905-6614.
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…
I get quite a few calls / emails asking for exactly the same property type backed by the same type of lease. The commercial real estate flavor du jour is a retail, single tenant, single parcel with national credit – meaning S&P BBB or the Moody’s equivalent, Baa3 or higher, long, triple net (NNN) lease. …