Archives for November 2013

November 2013 Commercial Market Trends

November 14, 2013 by mcarristo

November 2013 Commercial Market Trends

View a New Mexico Market Trends Summary Report, which includes current statistics for various property types including industrial, office, retail, shopping center, vacant land, farm/ranch, hospitality and multi-family. This report includes total number of listings, asking lease rates, asking sales prices, days on the market and total square feet available.

Disclaimer: All statistics have been gathered from user-loaded listings and user-reported transactions. We have not verified accuracy and make no guarantees. By using the information, the user acknowledges that the data may contain errors or other nonconformities. Brokers should diligently and independently verify the specifics of the information you are using.

CARNM Names REALTOR® of the Year, Top Deals

November 13, 2013 by mcarristo

Dave Hill, an office real estate broker and director at NAI Maestas & Ward, was named REALTOR® of the Year, while Colliers International swept the marketing deals of the year awards, at the Commercial Association of Realtors New Mexico annual luncheon meeting on Tuesday.
Although well known in the commercial real estate community and active over the years in its various organizations, Hill also was recognized for his volunteer work in youth sports and church, as well as embodying the qualities of a “dedicated family man,” said Brian Anderson, who presented the award.
A poignant moment in the award presentation was congratulations delivered to Hill by video from his eldest son currently serving in the Navy. His wife and three other teenaged children were surprise guests at the luncheon.

Dave Hill is with the commercial real estate firm of NAI Maestas & Ward.
The commercial real estate affiliate of the Realtors Association of New Mexico, CARNM’s membership has held steady the past two years at 450, which is a small proportion of the roughly 5,700 Realtors statewide. Tom Franchini of Colliers is association president for 2014, replacing Dan Newman of CBRE.
The top marketing deal for more than $1 million was awarded to Franchini, Tim MacEachen and Bill Robertson for the sale of a 14,400-square-foot office and warehouse on Hardware Drive NE.
The top marketing deal of the year for less than $1 million was awarded to Keith Bandoni, John Ransom and Tim With of Colliers for the sale of the roughly 8,000-square-foot building at Otono Plaza near Jefferson and Alameda NE.
A requirement for the top deals awards is a verbal pitch at a monthly marketing meeting of the local chapter of Certified Commercial Investment Members, an unrelated commercial real estate group whose membership overlaps with CARNM’s. The awards recognize the marketing strategy and success of deals, not the size or scale of the properties.
By Richard Metcalf (Albuquerque Journal)
View Source Article here.

Commercial Real Estate Industrial Sector Poised for Growth

November 13, 2013 by mcarristo

The industrial sector is projected to lead commercial real estate in both investment and development potential in 2014, according to PWC/Urban Land Institute’s Emerging Trends in Real Estate 2014. The report aggregates perspectives from more than 1,000 commercial real estate industry professionals who participated in PWC/ULI’s annual survey
Healthy expansion of e-commerce distribution facilities will fuel growth in the warehouse subsector. Warehouses garnered the most interest from respondents with nearly 64 percent recommending to buy, and 27 percent recommending to hold these assets. Other subsectors such as self-storage, data centers, and research and development facilities are all expected to improve next year as well.
“Electronic retailing is impacting the whole distribution program,” says a logistics executive. “Facilities are being built to enable same-day delivery -– huge buildings, fulfillment centers in areas where we’ve never seen warehouses before.” (CCIM Institute) Full story

Uneven Recovery Causes Commercial Frustrations

November 11, 2013 by mcarristo

Commercial practitioners are right to be frustrated, NAR Chief Economist Lawrence Yun said at the REALTORS® Conference & Expo in San Franisco earlier this month.
“Commercial real estate was not the cause of the downturn,” Yun told attendees of the Commercial Economic Issues and Real Estate Trends Forum. “But it is commercial real estate that is suffering the collateral damage.”
Yun said most commercial sectors are recovering sluggishly, along with the overall economy. “The pace of expansion has been extremely frustrating,” he said. “We’ve created 7 million jobs in the past four years, but this is in the aftermath of 8 million job losses, so we are still in a hole.”
The unevenness of the recovery is not just geographic; there’s also a data disconnect. Yun said the middle class is not being included in the recovery, resulting in hard research that doesn’t match the feelings commonly expressed about the economy. “We have a very strange mind-set in America today. We have record high net worth, but most Americans will say things don’t feel right,” Yun said, adding that he sees those frustrations reflected in low consumer confidence.
That same malaise is affecting commercial real estate practitioners, too. Yun said that though transaction volume is up 27% year over year, he doesn’t see the data reflected in the 2013 Commercial Real Estate Lending Survey. Commercial deals topping $1 million began improving four years ago, while smaller transactions under the million-dollar mark just started turning around this year. (Daily Real Estate News) Full Story