Posts tagged Brokerage
As is typical, the industrial segment will lead the industry out of the real estate doldrums. The asset class is fairly less sophisticated then multi-family and office and retail remains a conundrum.
B-class assets and incubator vintage infill will be the first to lease as service companies and ancillary support companies will be buoyed by the improving economy.
As compared to typical office and industrial site selection, call centers demand more information about the availability and cost of labor than about the buildings. Call centers evaluate potential state, county and city incentives that are available based on the number of employees and the wage levels of its employees. The reason for this focus is the economic impact of the employee’s salaries over the term of the lease on the local community. More >
There is a mood of optimism in the air about the economy and it is important for us in sales to catch the mood and pass it on to our clients. The stock market has been improving almost every day since January, and has shown an increase of over 20% for the first quarter. The major real estate firms in New York City are all expanding. The unemployment rate has dropped to just under 9%, which is a 10% improvement More >
Commercial real estate increasingly is becoming global in terms of the property owners/investors and capital players, yet in many ways it remains a local business. Local supply and demand takes precedence over regional demand and local practices still dominate markets. Therefore, it is important to have local representation when participating in a real estate transaction.
Can’t a broker I trust from another market handle things for me?
You would probably not trust your foreign car to a local gas station because the standards and practices needed to complete the work require a special set of tools, unique understanding of the automotive asset and specialized training. Similarly, local agents understand the dynamics of the local market in a way that outside agents do not appreciate. Local agents typically have grown up in the market; they have made their career in the local market. They may have gone to high school with the mayor and/or the local planning and zoning leadership. As a result they have an in-depth understanding of the properties that are on the market, the reasons they have not sold, the concessions that made to complete other local transactions, concessions that other owners may accept and the properties that may become available under the right conditions.
Why then would you utilize less than a local expert for any local real estate transaction?
NAI Global, the premier network of commercial real estate firms and one of the largest real estate services providers worldwide, honored J. Michael Mooney, Chairman of NAI MLG Commercial of Milwaukee, Wisconsin, with the Gerald C. Finn Lifetime Achievement Award in recognition of his years of dedication and service to the NAI Global network.
Mooney has been active in the NAI Global network for more than 20 years and served as chairman of the NAI Members’ Leadership Board during 2000-2001, a key period in the organization’s history.
“Mike is a leader and visionary who has always been close by to provide solid advice and wisdom,” stated NAI Global President & CEO Jeffrey M. Finn. “His strong, subtle leadership during a critical time of transition served to galvanize the organization and accelerate our growth. We appreciate his many contributions to the NAI organization over the past two decades and look forward to his continued support and guidance.”
The award was presented in a ceremony on February 9 at the NAI Global 2011 Convention in Las Vegas. Based in Princeton, New Jersey, NAI Global manages a network of 5,000 professionals and 350 offices in 55 countries. NAI professionals complete over $45 billion in transactions annually.