Daily finance had an interesting interview with Jeff Speck, author of Walkable City: How Downtown Can Save America, One Step at a Time. Jeff Speck is an architect and city planner in Washington DC and served on the Mayor’s Institute on City Design. He also served on the Sustainability Task Force of the Department of…
For the second year, Westerville’s Uptown District will be awarding up to $15,000 in grant money per property for improvements ranging from paint, new windows, awnings to concealing rooftop wiring. Eight local businesses will be receiving grant dollars from the Westerville Industry and Commerce Corp., acting in behalf of the City of Westerville. $200,000 is…
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…
I continue to need corporate leased, triple net retail c-stores such as 7-11, Circle K, Get Go (Giant Eagle) or Turkey Hill (Kroger). Gas preferred on the triple net retail C-stores due to the accelerated cash recovery on the gas related equipment. Single tenant only. S&P BBB or better. This mean investment grade guarantor on the…
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…
Single tenant, net leased retail has continued to gain strength as an asset class. With an economy barely growing, one could wonder why is triple net and absolute net retail as strong as it is? Given what else is available as a safe investment, it’s no wonder net leased retail is doing well. Ten year government…
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…
The National Association of Realtors sums it up pretty well in the attached August 2012 Commercial Real Estate Outlook when they opine that the economy has gone on vacation. That’s pretty much how I would describe it too. True, the triple net or absolute net, single tenant, national investment grade credit tenant retail is still…
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…
As prices get stupid for the product of choice – the triple net or absolute net, S&P BBB or better, single tenant retail, it starts pulling up secondary and tertiary markets and slightly weaker credit single tenant retail. Multi tenant won’t be far behind. We’re now in a broad based recovery that is pulling the…
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…
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…
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…