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Archives for July 2019

Sawmill Market Rises in ABQ

July 15, 2019 by CARNM


In the early 20th century, Albuquerque’s vibrant timber industry was quartered in a neighborhood just north of Old Town, where lumber products were sourced and sold across the West.

Today, one of the largest remaining buildings from the district, a blue-and-white building on Bellamah that once housed Frank Paxton Lumber Co.’s Albuquerque operations, is surrounded by scaffolding, as it undergoes a massive transformation into Sawmill Market.

The market, expected to be New Mexico’s first food hall when it opens, announced its first four tenants. They are – Dr. Field Goods Kitchen, Plata Coffee, Eldora Chocolate, and a new concept titled Mercantile Cafe & Wine Bar – that eventually will be joined by around 20 other food and beverage producers at the new 34,000-square-foot market.

The $24 million project is a massive undertaking, but developer Jim Long told the Journal it has the potential to become not only the center of a planned mixed-use district north of Old Town, but also a community hub for the entire city.

Food hall concept


“I think markets are really community gathering spaces,” Long said. “They really provide a fantastic opportunity for socialization as well as entertainment.”
Food halls and markets may be new to Albuquerque, but they’re well established in other parts of the country and world.
Steve Carlin, an advisor on the Sawmill District who helped develop the Oxbow Public Market in Napa, California, said many American cities historically had terminal markets where produce from the surrounding area was centralized, making it possible for buyers to purchase a variety of produce without visiting each individual farm. Several of these legacy markets, including Seattle’s Pike Place Market and Philadelphia’s Reading Terminal Market, are still popular today.
Carlin added that a new generation of food halls, including the Denver Central Market and the Oxbow, have popped up in American cities in recent years. The newer food halls tend to feature a wide variety of prepared food.
Carlin characterized the Sawmill Market as a “hybrid” of the two approaches, acknowledging that legacy markets have developed over the course of decades, but adding that the vision for Sawmill Market will include community activities and local food.
“Markets tend to be the center of town, and they do tend to reflect the food of their local population,” Carlin said.

Long, who has developed a number of hotels and resorts across New Mexico, including the Hotel Chaco across the street from the building that will house Sawmill Market, said he’s been looking to add a unique food experience nearby for years. After visiting food halls in other parts of the country, he decided he wanted to bring one to Albuquerque.
“Every eatery and food experience will be unique and different,” Long said.
A ‘center’ development

Once completed, the market will be the center of the larger Sawmill District, the neighborhood directly north of Old Town. The neighborhood boundaries run roughly from Rio Grande Boulevard in the east to 20th Street in the west, north of the museum district. Long said he envisioned the district as a walkable area that would link with nearby neighborhoods. To that end, he brought in Stefanos Polyzoides, co-founder of the Pasadena, California-based urban planning firm Moule & Polyzoides. Polyzoides said having a market that celebrates Albuquerque’s local food culture would be a good way to build off the energy from Hotel Chaco.
Ultimately, Polyzoides said he hoped the market could anchor a walkable, urban neighborhood in central Albuquerque, one that could be a model for development in an auto-centric city.
“In every major city these days … there is just a very clear movement toward walkable, mixed-use town centers,” Polyzoides said.
Enlisting homegrown guidance

To help achieve the vision, Long also enlisted the help of Jason and Lauren Greene, the husband-and-wife team behind Grove Cafe & Market in East Downtown. Lauren Greene wrote in an email that she felt the same type of inspiration when she walked into Sawmill Market with Long that she originally felt when she saw the up-and-coming neighborhood that gave rise to Grove Cafe.
“It has always been our dream to impact the food scene in Albuquerque in a positive way, and to somehow be part of the bigger picture and upward movement among our local food community,” she wrote.
The mix of tenants that have joined the project so far offer a wide variety of food and drinks, but each are locally owned.
Steve Prickett, the founder of Eldora Chocolate, described his business as Albuquerque’s only bean-to-bar chocolate store. Prickett sources cacao beans from everywhere from Tanzania to Ecuador, selling unique chocolate varieties from his storefront on Edith Boulevard that vary widely in flavor.
Prickett said Long put his business through a rigorous test to determine if it was a good fit, but noted that he appreciated Long’s commitment to quality, as well as the craft-forward focus of the market.
Artisan, unique, non-chain

“It’s artisan, it’s unique, it’s non-chain stores,” Prickett said of Sawmill Market.
Where Eldora Chocolate will need to contract its offerings to fit in the market, Plata Coffee is planning to expand. The coffee counter was founded by Rose Kerkmans and Aaron Ketner last fall. Kerkmans said the coffee shop currently occupies just 150 square feet in the ground floor of a low-income housing development that Ketner, an intern architect, designed. She said the market provides an opportunity to expand while still maintaining its focus on local coffee.
“Our mission was to, as much as possible, only sell and collaborate with New Mexico brands,” Kerkmans said.
Long said Mercantile Cafe & Wine Bar will use a lot of locally sourced ingredients, while featuring a list of New Mexico wines. Santa Fe-based Dr. Field Goods will be selling freshly butchered meat at the market, according to founder Josh Gerwin.
“Having an actual butcher in the market is a great dynamic,” Long added.
Long said he expects Sawmill Market to be open by next February. Currently, builders are reconfiguring the vast interior space so tenants will be able to use it. While the development is the first of its kind in Albuquerque, he said he thinks Duke City is ready for an indoor market to call its own.
“Population-wise, I think we’re probably at the size now that we’ll see more variety,” Long said.
By: Stephen Hamway (ABQ Journal)
Click here to view source article.

Filed Under: All News

New and Revised NMAR Forms

July 15, 2019 by CARNM

NMAR has released new and revised NMAR forms. These forms will be released through the INSTANET Transaction Desk, ZipForms and DotLoop after July 15, 2019.

Below is a synopsis of the new or revised forms, as well additional supporting material to assist you. Please click on the links below to learn more:

  • Synopsis of New and Revised NMAR Forms
  • How to Disclose Licensed Transaction Coordinators When Using Revised Forms
  • Revocation of Offers in the Day and Age of Transaction Brokerage
  • Form 1725 – NEW Auctioneer Agreement
  • Form 2104 – Purchase Agreement Residential
  • Form 5106 – NEW Notice of Revocation of Offer – Counteroffer
  • Form 6107 – NEW Vendor Certification
Additional revised forms are:
  • Form 1106 – Listing Agreement
  • Form 1203 – Compensation to Broker Agreement/Unlisted Property
  • Form 1206 – Buyer Broker Agreement
  • Form 2100 – Broker Duties Supplemental Disclosure
  • Form 2301 – Property Disclosure Statement
  • Form 2503 – Buyer’s Contingency
  • Form 4600 – HOA Information Sheet
  • Form 4700 – HOA Document and Disclosure Certificate
  • Form 5105 – Termination Agreement
  • Form 5109 – Objection Resolution Waiver Notice and Agreement

If you have additional questions, please contact the NMAR Legal Hotline at 877-699-7266 or contact NMAR Membership Services at 505-982-2442.

Filed Under: All News

‘The Experiential Office’ is Here as Property Managers Take a Cue From the Hospitality Industry

July 11, 2019 by CARNM

Today’s tenants expect and deserve a workplace that enables them to deliver their best performance and be their best selves. As audience engagement experts, JLL is fusing the concepts of property management and hospitality together to create a new category of the workplace: ‘The Experiential Office.’

Megan Matthews, property management lead for JLL Mid-Atlantic, doesn’t need to see a single office suite to judge the quality of the building. Everything she needs to know she can get just from sitting in the lobby. “I judge an office’s lobby just like I would a hotel’s,” said Matthews, a 19-year veteran of JLL. “What kind of amenities are there signs for? Do the staff know their building inside and out? And most importantly, how comfortable and supported do tenants seem?”

To provide a tenant-first approach, property managers are taking a cue from the hospitality industry. The benefits of an office and its amenities aren’t effective unless they inspire meaningful relationships between people and places.

Earlier this year, JLL launched The JLL Curae Approach to Experience Management, a new service philosophy that fuses tenant-focused property management services, technology and the company’s robust platform into one holistic solution for office properties.

Matthews said tenants now demand “space as a service,” an amenity- and experience-rich approach to workplaces. By focusing on the tenant experience and offering superior client services, property managers improve tenant retention and acquisition efforts. Office buildings are adopting best practices that have long existed in the hospitality and retail sectors.

“Property managers’ roles have evolved tremendously over the past decade,” Matthews said. “As tenants look toward a more concierge-style experience, serving clients and their exceeding expectations is paramount. Property managers need to create an environment for the human experience to thrive, and JLL is committed to creating those environments for our tenants.”

The word curae is Latin for “I care for.” The people-centric JLL Curae Approach includes many services that engage employees and visitors in unique ways, including tenant engagement, amenity management, classic concierge and convenience services, and in-office service solutions. Think anything from on-demand spa services to nutrition counseling to office flu shots.

Not too long ago, such experiential initiatives would have been unheard of in commercial real estate. However, as the workplace continues to adapt to the demands of a more experience-seeking generation, property managers will continue to be on the front lines of driving tenant engagement.

“Just like the hospitality industry, at the core of property management is a desire to maintain the integrity of the building and deliver excellent client service at the same time,” Matthews said. “We interact with our customers every day, so delivering a truly positive experience in our assets is vital. Curae allows us to do just that.”

JLL appointed Matthews managing director of the Mid-Atlantic region last year, placing her in charge of over 40 million square feet of commercial and industrial space. Matthews hopes to implement the lessons she gleaned from the hospitality industry in every part of the space she and her team represent.

“Amenities and services need to be viewed as a big-picture initiative, creating an experience that begins when employees and visitors approach the office and stays with them long after they leave,” said Matthews. “Office experience can make or break a company’s culture, and companies today will benefit in the long run by investing in property management that inspires appeal across generations and departments.”

By: JLL
Click here to view source article

Filed Under: COVID-19

World Trade Center Mall Has a Plan to Get You to Stick Around

July 10, 2019 by CARNM

The mall’s owner, Unibail-Rodamco-Westfield, is adding more food and fitness options.
There are always crowds at the shopping mall inside the Oculus transit hub in lower Manhattan: commuters rushing to their trains, tourists wandering about after a stop at the nearby 9/11 Memorial & Museum or a photo shoot at the Statue of Liberty.
The mammoth, butterfly-shaped Oculus draws as many as 120 million visits each year — often people passing through on their way to somewhere else. Visitors spend just a little over a half hour on average at the mall, Westfield World Trade Center. Now, its operator has plans to get them to linger longer.

“I’m not sure we need more traffic,” Jean-Marie Tritant, U.S. president for Unibail-Rodamco-Westfield, said in an interview. “We were lacking this kind of offer where people can stay, hang around, have a good time together.”
Eager to remain relevant in the rapidly changing world of retail, URW is adding more food choices, seating, pop-up shops, health and wellness options and entertainment (think virtual reality). The French mall owner, which has 32 shopping centers in the U.S. and is Europe’s biggest commercial landlord, is also using loyalty perks and technology to learn more about customer preferences.
One category the company doesn’t want to expand? Fashion.

More Food, Less Fashion

Today, fashion makes up a little less than half of Westfield World Trade Center’s leasable area. URW’s goal is to whittle that down to closer to a third, while boosting other offerings, like eateries. Last month, it opened Market Lane, a food hall that includes a bakery, pizza counter and small grocery store. Upgraded dining options could make the Oculus a more-popular hangout for the neighborhood’s thousands of transit riders and workers, which collectively make up about 40% of the mall’s traffic.

Oculus transit hub

Another way to get people to stick around? Give them a place to exercise. Boxing studio Gloveworx opened in the Oculus at the beginning of the year, and Tritant said URW could bring in other niche fitness options, like CrossFit.
The landlord regularly freshens the mix at its properties. Among the top-performing businesses at Westfield World Trade Center, Tritant said, are mattress maker Casper and luxury purse reseller Rebag, newer companies that established themselves on the internet before opening bricks-and-mortar locations. Later this year, URW plans to start spotlighting other emerging and high-end brands by featuring three- to six-month pop-ups in the center of the Oculus.

Oculus Obstacles

The road ahead won’t be an easy one. Malls across the country have battled to survive amid the shift to online shopping, and operating an indoor center in New York City, where street shopping is so popular, comes with its own set of challenges. Plus, the Oculus has a shiny, new competitor — the $2 billion Shops at Hudson Yards that just opened on the far west side — and is across from Brookfield Place, an office complex with its own retail and dining concourse.
URW will need to reinvent the mall with “different stores, new graphics and more energy,” said Mitchell Moss, a professor of urban policy and planning at New York University. Opened in 2016 as a replacement for the original transit hub destroyed in the Sept. 11, 2001, terrorist attacks, Santiago Calatrava’s Oculus — with its soaring ceilings and winding walkways — wasn’t primarily designed as a shopping palace, and that’s part of the problem.
“A good mall has multiple opportunities for serendipity as the basis for shopping, and this mall undermines that principal, because you’re bumping into open space, not into another store,” Moss said. “It’s beautiful interior space, but it’s not really conducive to shopping.”

Birthday Bonuses

Many mall operators track location data on shoppers’ smartphones to determine what stores they’re going to and how long they’re staying. URW also seeks to engage more directly with visitors to learn about their preferences, Tritant said.
One way the company does this is through its loyalty program, which notifies frequent patrons about special offers, discounts and new merchants. Visitors to the landlord’s U.S. malls stop at 2.6 stores on average. Offering more perks, like deals on your birthday, could boost that rate and give URW more insight into how customers shop.
“We want to be able to be much more relevant in what we do for them,” Tritant said. “Everybody has a birthday.”
By: National Real Estate Investor
Click here to view source article.

Filed Under: All News

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