During NAI Wisinski’s bi-weekly retail meeting on Tuesday, a few of the retail associates reported on the ICSC Michigan Idea Exchange which took place in Dearborn, MI last week. Doug Taatjes and Rod Alderink both felt a positive vibe buzzing around the conference. There was a feeling that optimism is high and the attendance, up 20% this year, backed that sense.
Rod went to the conference specifically to get a feel for how shopping centers would fare in the near future, particularly Class B & C centers. He reported that these types of centers, described as neighborhood centers built at least fifteen years ago, still have a tough road ahead. He didn’t see as much interest in these from retailers.
Part of this might be because of all the development going on. Doug noted a large focus on developments that seemed to be 10,000 SF or less. These smaller retail developments, Doug explained, all have one thing in common: food. There are a lot of entrepreneurs out there right now taking big risks to become franchisees of familiar chains. Just this week, he leased space in Goodwill’s new retail center at 2700 Kraft Ave SE to a first time franchisee of Biggby Coffee.
The next ICSC event is in Chicago in October. Stay tuned as NAI Wisinski will be reporting from that event as well.
On Wednesday November 9th, Stu Kingma was given the opportunity to present at the 25th Annual University of Michigan (UM) & Urban Land Institute (ULI) Real Estate Forum. The UM/ULI Real Estate Forum is a non-profit volunteer organization dedicated to enhancing real estate education both professionally and at the university level. For twenty-five years they have been celebrating best practices in Michigan real estate. Professionals in real estate, development, and academia were all present at the forum. This year, the Forum’s focus was on identifying opportunities.
PricewaterhouseCoopers (PwC), along with the ULI published “Emerging Trends in Real Estate 2012” and ranked Detroit dead last among U.S. cities in terms of investment and development among other things. Stu was part of a Local Response Panel and discussed recent opportunities in West Michigan. Stu’s goal, along with the rest of the Forum, was to refute the claims of the PwC report. “Even though the PwC numbers show Detroit is lagging behind the rest of the country, great things are happening here,” Stu says. “I especially wanted to demonstrate that great things are happening in West Michigan as well. We are sustainable and growing in many sectors.”
Some of the topics Stu covered include the manufacturing rebound, the growing medical sector, food manufacturing, and the advanced battery production sector for vehicle use.
Last Week, Dr. Peter Linneman of NAI Global hosted a web conference on the global economic recovery. His presentation covered all aspects of commercial real estate, the general welfare of the economy, and thoughts on what needs to be done to help the recovery. Some key talking points from the presentation are below:
- Low demand for development (Commercial construction at a 50 year low)
- Household formation is up, but still remains low (High unemployment rate for household formers)
- GDP has rebounded, but still worse off (3%) on a per capita basis due to a 3% increase in population
- The economy is adding jobs, but we still have a long way to go (Have only recovered 21% of jobs across the nation)
- Pent-up households are declining
- Vacancy rates are declining slightly across the board (Industrial, Office, Multi-Family)
- Retail sales are back up (Still 3% less due to population increase)
To listen to the web conference in its entirety, click here to register.
Dr. Linneman, widely recognized as one of the leading strategic thinkers in the real estate industry, was recently cited as one of the 25 most influential people in real estate by Realtor Magazine. He serves as Principal of Linneman Associates.
Michigan Small Business and Technology Development Centers land $1.6 million federal grant to drive job growth
$1.6 million in federal money will enable Michigan’s Small Business and Technology Development Centers to boost their ability to aid small businesses.
The two-year grant will go to hire nine financial and strategy consultants to work with SBTDC clients around the state to sharpen their financial management and strategic planning.
Consultants will work with small businesses that are in a growth mode and want to diversify, and need some assistance identifying the future and how to get there, said Teresa Sickles, a manufacturing and financing tools specialists with the Michigan SBTDC.
“They’ve evolved to a second-stage business to where they are taking it to the next level and where they are saying, ‘We really want to grow that business,’” Sickles said.
The grant was available through $50 million allocated in the Small Business Jobs Act of 2010. The Michigan SBTDCs are among the first in the U.S. to receive the federal funding.
Read more at mlive.com.
By Mark Sanchez, Business Review West Michigan.
NAI West Michigan Commercial Real Estate Services, Worldwide welcomes Glenn Carlson as a Realtor Associate specializing in commercial, retail and office sales and leasing. Carlson has been actively involved in real estate for over ten years. Prior to NAI West Michigan, Glenn owned and operated a residential construction company.
Carlson holds a bachelor’s degree from Calvin College. He is a member of the Commercial Alliance of Realtors®, the Michigan Association of Realtors®, and the National Association of Realtors®. He is currently working toward acquiring the Certified Commercial Investment Member (CCIM) designation.
As a small business owner Carlson is familiar with NAI West Michigan’s background and shares their vision, core values statement, and commitment to providing the highest degree of consistent customer service. He joins a team of 26 commercial real estate advisors and staff at NAI West Michigan. Carlson is looking forward to being involved in the commercial real estate business climate and is optimistic of West Michigan future.