Posts tagged Commercial Real Estate
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?
While working with a US-based client on a series of property acquisitions in the Caribbean, he had the idea of performing a couple of nifty 1031 exchanges in Puerto Rico. Emotions were running high that he could achieve this with a significant amount of tax savings. I warned him to be a bit more circumspect. If there is anything my international real estate experience has taught me, it is not to take anything for granted. I suggested that we confirm that a 1031 exchange is possible. A good thing I did. We conferred with a renowned local Puerto Rico tax expert, Manuel López Zambrana of Manuel López Zambrana, PSC (firstname.lastname@example.org), and More >
In today’s complex market, most commercial real estate disposition assignments are executed using the services of a qualified broker to analyze the market and the property and to sell the asset for the highest possible price in a timeframe that is consistent with the specific needs of the owner/client.
If no obvious choice exists, most owners interview two or three brokerage firms and then make an informed selection, based in part, on the following:
- The firm’s national reputation;
- The firm’s presence in and knowledge of the immediate local market; and More >
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it is expanding its coverage in the Caribbean region with the signing of NAI Dominicana.
Based in Santo Domingo, NAI Dominicana is a new commercial real estate firm formed by Andres Perez, CRS, GRI. Perez has been involved in commercial and residential real estate sales, financing and the capital market in Florida since 1984, where he specialized More >
NAI Global is offering approximately 38 properties via sealed bid in its fourth Commercial Property PowerSale™. The deadline for bids is April 14. The online sealed-bid sale is managed by NRC Realty & Capital Advisors, NAI Global’s alliance partner for online sealed-bid sales.
The Commercial Property PowerSale™ is an accelerated marketing program developed by NAI Global to match motivated sellers with investors and owner/users searching for prime investment opportunities. This unique marketing program gives sellers the opportunity to sell their asset quickly, reducing their holding costs and securing true market value for the property.
Interested buyers will have an opportunity to bid on industrial and retail/restaurant properties in 10 states. Large industrial properties include a 416,000 SF former Lenox plant on 56 acres in Galloway, NJ, near Atlantic City; a 238,000 SF industrial property on 40.6 acres near Chattanooga, TN; a 217,000 SF industrial facility in Salem, IN; and a fully entitled 300-acre mixed-use development opportunity in North Port, FL, between Sarasota and Ft. Myers.
The PowerSale™ also features 34 closed restaurants in Delaware, Florida, Georgia, North Carolina, Ohio, Pennsylvania and South Carolina, offered by a national lender. Building square footage ranges from 1,200 to 9,300 SF and includes former Wendy’s, Hardee’s, Boston Market, Golden Corral, Chevy’s, Waffle House, Roadhouse Grill, Pizza Hut, Sonic, El Pollo Loco, Popeye’s, Bennigan’s, Church’s, Papa John’s and more.
Prospective buyers and sellers interested in learning more about the Commercial Property PowerSale™ should visit NRC.com/PowerSale or call +1 800 747 3342 x102.