Take a Closer Look at Your Commercial Property Assessment

Contributing Author: Jay Verro, CCIM

After a long winter in our region, most folks are eager for nicer weather. Take advantage of the nicer weather by taking a trip to your local Town or City Assessor’s Office. While mundane sounding, the effort could be well worth it when you get your property tax bill.

There isn’t a fixed percentage at which a property must be assessed at in New York State. Many communities rely on the state to provide something called an “Equalization Rate”.  Each community determines its “Total Assessed Value” (AV) while the state determines the municipality’s “Total Market Value” (MV).

TOTAL  AV ÷ TOTAL  MV = EQUALIZATION RATE (ER) Continue reading Take a Closer Look at Your Commercial Property Assessment

Seattle, Washington goes to the Côte d’Azur / Seattle goes to MIPIM 2018

Contributing Author: Chad Gleason, CCIM

It is not often that the State of Washington attends international real estate conferences, but with the incredible growth of the Greater Seattle Area and growing interest from international investors, Washington State made its debut at MIPIM 2018.  MIPIM (Le Marché International des Professionnels de l’immobilier)is an international property, real estate development and investment event hosted annually in Cannes, France. From the official press release from MIPIM, there were over 26,000 real estate professionals, many city and political leaders, with well over 4,500 investors from over 100 countries, who came together for the 4-day event at the Palais des Festival, Cannes. They came to see, share and network with what the world has to offer in real estate investment and development. Continue reading Seattle, Washington goes to the Côte d’Azur / Seattle goes to MIPIM 2018

1Q18 Officially in the Books

Contributing Author: Nick Miner, CCIM

It is amazing how fast the first quarter of each year always seems to fly by.  It is a non-stop, press on the gas pedal type of quarter and 2018 was no different than 2017; well, maybe?

In looking back at total transaction velocity for Phoenix Metro in 2017, there was on average about 260 closings a month (office, retail, industrial, land, apartments, etc.).  When you look at 1Q18, that number is about 192 closings a month; a net drop of almost 26% just in transaction velocity. This is before a deep dive into any one product class; just the macro look at transaction velocity.

There are several reasons that could go into the drop in transaction velocity with one of the main issues being tax reform and the debates leading up to the final product.  The banter back and forth in Washington definitely had the investment markets captivated as to what would ultimately be passed. Continue reading 1Q18 Officially in the Books

The Lost Art of Due Diligence

Contributing Author: Jay Verro, CCIM

Today’s CRE investment transactions involve investors from around the globe, which can lead to pertinent due diligence items being over-looked. A significant percentage of larger property sellers and buyers rely on 3rd party vendors to provide items such as building size, acreage, ceiling height, etc. As an example, Leases that have missing Exhibits, such as site plans, building / space drawings should be a red flag that further “boots on the ground” verification is warranted. It is not uncommon for buyers to submit offers and even purchase properties sight unseen.

Engaging local experts is an excellent way for a buyer to hedge their bets for the future vs. simply buying for an acceptable return now. Continue reading The Lost Art of Due Diligence

LDCRE’s Roundtable Discussion on 2018 CRE State of the Market with Jeff Rowlett, Sean Lyons, and Nick Miner

Say I inherit $25,000,000 and it has to be invested in Commercial Real Estate before the close of 2018; where should I invest in Commercial Real Estate?

LDCRE conducts a Roundtable discussion on the commercial real estate state of the market with three leading commercial real estate brokers, all of whom are all in the trenches every day. Nick Miner,CCIM is Senior Vice President at ORION Investment Real Estate, Sean Lyons is a Founding Partner at Triad Real Estate Partners, and Jeff Rowlett is a leading Investment Advisor at Marcus & Millichap serving private capital investors in Chicago, Milwaukee and nationwide. Continue reading LDCRE’s Roundtable Discussion on 2018 CRE State of the Market with Jeff Rowlett, Sean Lyons, and Nick Miner

Spotlight Interview: Adam Tarantur, CCIM Principal at Podolsky Circle CORFAC International

Adam Tarantur is a Principal at Podolsky Circle CORFAC International and also sits on the firm’s Executive Committee. He began his career in commercial real estate upon graduating from the business school at the University of Wisconsin – Madison with a degree in Real Estate & Urban Land Economics. Adam’s commercial real estate expertise encompasses a wide range of disciplines, including investment sales; landlord representation; distressed property consulting; and tenant representation. His client base is similarly diverse, consisting of both global and local clients, as well as institutional and entrepreneurial owners. Adam has successfully completed the disposition of over 3.6 million square feet of industrial, office, flex and retail properties. He has also transacted countless leases, both representing tenants and working on behalf of ownership.

Continue reading Spotlight Interview: Adam Tarantur, CCIM Principal at Podolsky Circle CORFAC International

CCIM: What is it and what do they provide Commercial Real Estate Professionals?

4x6Leavitt Digital recently caught up with David Wilson, CCIM, who was recently elected into office as CCIM President for 2018 and asked Wilson to explain the CCIM Organization. If you are wondering what a CCIM is, you aren’t alone! Only six percent (6%) of all commercial real estate practitioners wear the prestigious CCIM pin and have gone through the extensive educational program to become a CCIM Designee. CCIM stands for Certified Commercial Investment Member. Based in Chicago, IL, the CCIM Institute is an affiliate of the National Association of REALTORS® and has approximately 13,000 members from 31 countries throughout the world.  CCIMs are trained experts who can analyze opportunities to help clients make confident, informed choices. Employing a data-driven approach to commercial real estate, CCIMs guide clients’ real estate decisions using financial and market analysis skills, combined with their own experience and knowledge of local and national markets. With a CCIM, clients have access to an educated, deliberate process. Continue reading CCIM: What is it and what do they provide Commercial Real Estate Professionals?

Spotlight Interview: Dave Wilson, CCIM / EVP, Lockard Companies Interview

Spotlight Interview: Dave Wilson, CCIM / EVP, Lockard Companies Interview

Leavitt Digital is conducting a number of “Spotlight Interviews” with industry leaders in the Commercial Real Estate Sector whom we feel lead by example. Leavitt Digital’s first interview is with Dave Wilson, CCIM / Executive Vice President of Development and Brokerage Manager at Lockard (Update: Dave Wilson is now at Ryan Companies)

LD: What career path did you want to take when you were in college?

DW: When I was in college, I was going to school for a Leisure Services degree.  I wanted to go work at a Christian camp and be an Executive Director of a camp someday.  Continue reading Spotlight Interview: Dave Wilson, CCIM / EVP, Lockard Companies Interview

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