Bryce Custer, SIOR, with NAI Spring is an exhibitor at the The Oil and Gas Expo in Belmont County.
THE OHIO VALLEY OIL & GAS EXPO is the Premier 2016 Oil and Gas Event in the Marcellus and Utica Shale Regions!
The two day business to business gathering features a network reception with leading industry speakers on Tues., April 26th and a one day expo display on Wed., April 27th.
NAI Spring is pleased to release our Commercial Real Estate Insider Market Report for 2016
On January 13, 2014 Bryce Custer, Real Estate Advisor Oil & Gas Services delivered a brief presentation on the Impact on Commercial Real Estate with the development of the Utica Shale Oil & Gas play at the Stark County Oil and Gas Partnership’s Choose Stark event Monday night at the Pro Football Hall of Fame.
Discussion highlights developments in the Utica Shale
NAI Spring Commercial Realty to present Impact and Evolution of Commercial Real Estate in the Utica Shale Region
On January 13, 2014 Bryce Custer, Real Estate Advisor Oil & Gas Services will be delivering a brief presentation on the Impact on Commercial Real Estate with the development of the Utica Shale Oil & Gas play.
The presentation will focus on Stark and Carroll Counties.
The Stark County Oil & Gas Partnership has created this event which will focus on the economic impact on Stark County and surrounding areas with presentation on job site safety and pre-employment occupational services along with local business success stories.
The event will be held at the Pro Football Hall of Fame
Additional information can be found at: www.ChooseStark.com
This is an exciting time in our region with the the economy beginning to gain momentum. Utica Shale activity has had significant impact on commercial real estate in Stark and the surrounding counties. At the same time, may local businesses are beginning to grow and re-evaluate their space needs. Regional and community banks are actively loaning funds on commercial real estate with relatively low rates and longer terms. NAI Spring agents are right in the middle of this activity and provide a brief snapshot in our market report.
NAI Spring 2013 Market Report
NAI Spring Commercial Realty has been actively servicing the Carroll County area supporting the influx of Oil & Gas companies to the Utica Shale region of Ohio. Carroll County has to date been the most active with 280 of the 502 permitted well sites as of January 31, 2013.
“Activity has been tremendous. We are seeing a resurgence of companies locating to the area as the Utica Shale play continues to be defined.” According to Bryce Custer, Real Estate Advisor with NAI Spring Commercial Realty, who had focused his activity in the Carroll and surrounding Utica Shale Counties. NAI Spring has assisted BTI, a division of Superior Energy Services and Praxair Distribution, to name a few of the dozens of companies locating to the area.
“Our challenge is readily available product that can support the companies coming to the area.” Mr. Custer said. “We are actively listing land and warehouses in the Carroll area. The ideal location is land with or without a structure located on one of the State Routes in the Carroll area. Demand is highest on State Route 43 (Canton Road), north south corridor and State Route 39, east west corridor.”
There is power in existing relationships. The power results from the interaction and trust that builds as two parties work together to accomplish a common goal such as selling or leasing property. During the various phases of the interaction, the parties can view performance, attitude, work ethic, general ethics, critical thinking skills, organizational skills, commercial skills, drive, achievement of results, oral and written skills and a host of other components of performance. Successful results coupled with common attributes of performance lead to repeat business.
The statistics bear this out. Government research shows that long term incumbent suppliers are successful 80% of the time in retaining the business. Organizations with strong existing working relationships are successful 40% of the time. Organizations without a meaningful existing working relationship are successful only 10 to 20% of the time.
There are two critical lessons from these statistics and thought process:
- Build meaningful relationships to secure long term business
- Cautiously bid for new business where existing relationships have not yet been formulated
NAI Global has a strong track record on long term performance with our clients who have worked with us over multiple decades. Our results mirror the analytical results shown above. Wouldn’t you rather work with someone who is interested in your long term success rather than short term gratification?
Ted Parcel is Executive Vice President of Corporate Services for NAI Global.
“Today is the day that Britain steps back from the brink” so said Britain’s Chancellor George Osborne yesterday as he presented the Coalition Governments plans to eliminate the £109 billion structural deficit during the lifetime of this Parliament.
Osborne inherited the biggest budget deficit of any leading economy. But the question is: will his plans involving £81 billion of public spending cuts and the loss of almost 500,000 public sector jobs save the country, or push it over the edge into a double dip recession?
The city, primed over recent weeks to expect the worst, received the Chancellor’s news relatively calmly. Certainly we did not see rioting on the streets at the announcement of the rise in the state pension age to 66 for men and women by 2020, saving £5 billion a year.
In total, around £18 billion of savings will come from cutting welfare costs. Local Government took the deepest of the cuts overall, The Department of Communities and Local Government faces a 51% reduction in its budget to £3.2 billion. The cut of 26% in the Local Government Grant to £24.2 billion will have shocked Local Authorities, but no doubt it’s we the public who will suffer with harsh cutbacks predicted in the level of serving provided to none essential services such as parks, leisure centres etc.
Despite the cuts, it’s not been all bad news; the Chancellor has sought to achieve a delicate balance between austerity v stimulus. As promised, Health and Schools spending were protected and the Chancellor found more cash for areas that could boost Britain’s future growth, including investment in science and confirmation that Crossrail, the £16 billion east-west new rail line in London, will proceed.
Certainly for property the effective removal of demand from the Government as a major new property occupier will be doing little to cheer the markets. However with an effective freeze on Government lease renewals for some weeks this has been anticipated and perhaps already built into market sentiment.
The issue remains: how will the rest of the world react to the austerity plans announced by the UK Government? Will the plans announced yesterday in the UK spur other Governments on to grasp the nettle? Only time will tell and in the meantime we must all take our medicine and hope that this is the end of the beginning and there will be brighter times ahead.
Based in London, Paul Danks is NAI Global’s Senior Vice President of Corporate Services working with clients across Europe, the Middle East and Africa.
What a difference a year or two makes. Having visited ExpoReal in Munich this year, what a very different place. Two years ago funds and banks were going into receivership and everyone was in shock and last year nobody really knew what was happening. This year the exhibition was buzzing.
SWIP and CW and I launched a €500 million pan European fund targeting city centre retail funds, Henderson launched its first German retail fund looking to raise €100 million by the end of 2010. Allianz is looking to significantly grow its Scandinavian portfolio. They are looking at retail and office assets. ING is launching a pan European sustainable office fund. Invesco is launching a second European hotel fund as well
The developers too were there. Prologis reported that it wants to shift more towards Europe and Asia. They currently have 232 properties and 4.9 million square feet in Europe.
It shows that the appetite for investments is returning. There is, however, still a gap between the aspirations of sellers and buyers and lack of the required product.
So with the German funds seeing an inflow of €8 billion in August according to the BVI the appetite is there. However there remained an outflow in the money markets and open ended fund redemptions.
So its back to the Bier and Weisswurste!
-Patricia LeMarechal, BSc, MRICS, SIOR
Based in the UK, Patricia LeMarechal is Vice President of International Client Development for NAI Global and a member of the International Advisory Council of The Society of Industrial and Office Realtors (SIOR).